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Opinion

Canada’s Financial Freefall: When Rosy Rhetoric Meets Hard Reality

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This article is from The Opposition With Dan Knight substack.  

The Trudeau Government’s Economic Alchemy: Turning Gold Hopes Into Lead Numbers

Good morning, my fellow Canadians. It’s September 3, 2023, and if you’re expecting to wake up to a bright, financially secure Canada, well, I have some sobering news for you. The latest figures from Statistics Canada are in, and they confirm what many of us have suspected: the Canadian economy is not on the up-and-up. Despite the rosy pictures painted by Prime Minister Justin Trudeau and Finance Minster Chrystia Freeland, the real numbers don’t lie, and they point to an economic landscape in turmoil. Allow me to break it down for you.

The new Statistics Canada data is in, and it paints a rather bleak picture of the Canadian economy under the watchful eyes of the federal government and Justin Trudeau. Let’s delve into some numbers, shall we? A staggering $16.5 billion in debt was added by Canadian households in the first quarter of this year alone, with $11.2 billion being in mortgage debt. In an environment of 5% interest rates, a rate we haven’t seen for over a decade, this is a financial bomb waiting to explode.

And let’s not forget inflation. Since 2021, we’ve seen a cumulative inflation rate of around 16.5%. Now, remember, these aren’t just abstract numbers on a ledger somewhere; these are realities hitting your grocery bills, your gas prices, your rents, and slowly emptying your wallets. But it’s not just households feeling the pinch. The economy as a whole is stalling, with real GDP nearly unchanged in the second quarter of 2023, following a measly 0.6% rise in the first quarter.

Amidst all this, Justin Trudeau and the federal government seem content piling on debt like there’s no tomorrow. The Parliamentary Budget Officer’s March 2023 report shows Canada’s deficit is expected to rise to $43.1 billion in 2023-24, up from $36.5 billion in 2022-23. And let’s not forget that 1 out of every 5 dollars in this debt spree didn’t even exist pre-pandemic. Essentially, we’re spending money we don’t have, to solve problems we’re not solving, all while making new ones.

So, where has all this spending gone? Not into securing a robust future for Canadians, I can tell you that. Despite the monumental deficits and the reckless spending, housing investment fell 2.1% in the second quarter,marking its fifth consecutive quarterly decrease. Canadians are struggling to make ends meet, and the government’s financial imprudence is exacerbating, not alleviating, the situation.

But here’s a twist to the story: while investments in housing decline, Justin Trudeau decided it was prime time to open the floodgates of immigration. There’s an aspect of governance called planning, something that seems foreign to this administration. How does one justify allowing over a million immigrants into Canada without even hinting at a solution for housing them? The result is basic economics – demand outstrips supply, and prices soar.

Remember the days before Trudeau’s reign, when the average home in Canada cost around $400,000? Eight years under his watch and that figure has doubled. Trudeau’s policies seem like a cruel jest to young families, professionals, and, frankly, anyone aspiring to own a piece of the Canadian dream. It’s almost as if he expected the housing market to “balance itself”.

And before you think this is just a ‘rough patch,’ let me remind you that household spending is also slowing. So not only are Canadians going into debt, but they’re also cutting back on spending. They’re being hit from both sides, and there’s no end in sight. The government’s promises of prosperity seem increasingly hollow when we see that per capita household spending has declined in three of the last four quarters.

The Trudeau administration’s approach to governing appears to be in a parallel universe, one where debt is limitless, and financial responsibilities are for the next government or even the next generation to sort out. And don’t even get me started on the higher taxes lurking around the corner to pay off this bonanza of spending. This isn’t governance; it’s financial negligence.

When Canadians were told that this level of inflationary spending could turn our country into something akin to Venezuela, many scoffed at the idea. But let’s face it: the signs are becoming hard to ignore. The truth is, many Canadians have been led to believe they can have gold-plated social services without paying an ounce of gold in taxes. Prime Minister Justin Trudeau seemed more than happy to sell that narrative. He promised a utopia, a social safety net woven from dreams and aspirations. But what has that net caught? Rising costs, crippling debt, and a harder life for everyday Canadians.

Trudeau has turned out to be less a responsible steward of the economy and more of a Pied Piper, leading us all off a fiscal cliff while playing a cheerful tune. Or perhaps he’s more like the Cheshire Cat from “Alice in Wonderland,” grinning broadly as he disappears, leaving behind only his grin and a trail of false promises.

As we approach the pivotal year of 2025, don’t forget who sold you this bill of goods. Remember the skyrocketing costs of living, the unmanageable debt, and the empty words that were supposed to make everything better. I, for one, certainly won’t forget. And I suspect, come election time, neither will you.

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Dan McTeague

Carney launches his crusade against the oilpatch

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Well, he finally did it.

After literally years of rumours that he was preparing to run for parliament and being groomed as Justin Trudeau’s successor.

After he, reportedly, agreed to take over Chrystia Freeland’s job as Finance Minister in December, only to then, reportedly, pull back once her very public and pointed resignation made the job too toxic for someone with his ambitions.

After he even began telegraphing, through surrogates, an openness to joining a Conservative government, likely hoping to preserve some of his beloved environmentalist achievements if and when Pierre Poilievre leads his party into government.

After all that, Mark Carney has finally thrown his hat into the ring for the position of Liberal leader and prime minister of our beloved and beleaguered country.

And, as I’ve been predicting, the whole gang of Trudeau apologists are out in force, jumping for joy and saying this is the best thing since sliced bread. Carney is a breath of fresh air, a man who can finally turn the page on a difficult era in our history, a fighter, and — of all things! — an outsider.

Hogwash!

This narrative conveniently ignores the fact that Carney has been a key Trudeau confidant for years. As Pierre Poilievre pointed out on Twitter/X, he remains listed on the Liberal Party’s website as an advisor to the Prime Minister. He’s godfather to Chrystia Freeland’s son, for heaven’s sake!

Outsider?! This man is an insider’s insider.

But, more importantly, Carney has been a passionate supporter and promoter of the Trudeau government’s agenda, with the job-killing, economy-hobbling Net Zero program right at its heart. The Carbon Tax? He was for it before he was against it, which is to say, before it was clear the popular opposition to it isn’t going away, especially now that we all see what a bite it’s taken out of our household budgets.

Even his course correction was half-hearted. In Carney’s words, the Carbon Tax “served a purpose up until now.” What on earth does that even mean?

Meanwhile, EV mandates, Emission Caps, the War on Pipelines, tax dollars for so-called renewables, and all of the other policies designed to stifle our natural resources imposed on us by the activists in the Trudeau government? They’re right up Carney’s ally.

Plus his record at the Banks of Canada and England, his role as the U.N.’s Special Envoy for Climate Action and Finance, and his passion projects like the Global Financial Alliance for Net Zero (GFANZ), and its subgroup the Net Zero Banking Alliance (NZBA), point to a concerning willingness to achieve his ideological goals by even the most sneaky, underhanded routes.

Take, for instance, the question of whether we need to “phase out” Canada’s oil and gas industry. Politicians who want real power can’t just come out and endorse that position without experiencing major blowback, as Justin Trudeau found out back in 2017. Despite years of activist propaganda, Canadians still recognize that hydrocarbon energy is the backbone of our economy.

But what if oil and gas companies started having trouble getting loans or attracting investment, no matter how profitable they are? Over time they, and the jobs and other economic benefits they provide, would simply disappear.

That is, in essence, the goal of GFANZ. It’s what they mean when they require their members – including Canadian banks like BMO, TD, CIBC, Scotiabank and RBC – to commit to “align[ing] their lending and investment portfolios with net-zero carbon emissions by mid-century or sooner.”

And Mark Carney is their founder and chairman. GFANZ is Mark Carney’s baby.

In truth, Mark Carney is less an outsider than he is the man behind the curtain, the man pulling the strings and poking the levers of power. Not that he will put it this way, but his campaign pitch can be boiled down to, “Trudeau, but without the scandals or baggage.” Well, relatively speaking.

But the thing is, it wasn’t those scandals – as much of an embarrassment as they were — which has brought an unceremonious end to Justin Trudeau’s political career. What laid him low, in the end, was bad policy and governmental mismanagement.

To choose Mark Carney would be to ask for more of the same. Thanks, but no thanks.

Dan McTeague is President of Canadians for Affordable Energy.

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Daily Caller

Opinion: Trump Making ‘Sex’ Great Again On Day One Of Presidency

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From the Daily Caller News Foundation

By Megan Brock

One day into his presidency, Trump has taken significant executive action to preserve the integrity of the sexes and root out gender ideology from the federal government.

Throughout his 2024 presidential campaign, Trump promised to affirm the unique distinctions of the two sexes, male and female, and reverse the spread of gender ideology that was pushed during the Biden administration. Trump kept that promise Monday by signing an executive order (EO) titled “Defending Women From Gender Ideology Extremism And Restoring Biological Truth To The Federal Government,” which defends the integrity of the sexes by mandating the federal government apply “clear and accurate language” that includes requiring the use of the term “sex” over “gender.”

“My Administration will defend women’s rights and protect freedom of conscience by using clear and accurate language and policies that recognize women are biologically female, and men are biologically male,” the EO states.

“When administering or enforcing sex-based distinctions, every agency and all Federal employees acting in an official capacity on behalf of their agency shall use the term ‘sex’ and not ‘gender’ in all applicable Federal policies and documents.”

Trump’s order defines male and female as “immutable biological” classifications, noting that “sex” is not synonymous with the term “gender identity.”

“‘Sex’ shall refer to an individual’s immutable biological classification as either male or female. ‘Sex’ is not a synonym for and does not include the concept of ‘gender identity’,” the EO states.

“Gender Identity” is a term used by transgender activists to describe an individual’s imagined sex. Transgender activists believe a person’s imagined sex is as real as their physical sex, and should hold equal weight in society and law.

For example, in April 2024 the Biden administration expanded Title IX regulations, which prohibit discrimination on the basis of sex, to include “gender identity,” giving men claiming to have a female “gender identity” full legal access to women’s sports and private spaces. A federal judge recently struck down the expanded Title IX regulations in a lawsuit filed against the Biden administration by six states, including Tennessee.

Jordanne Kemper, campaign director for Independent Women, praised Trump for protecting women by correctly defining the terms “gender identity” and “sex.”
“Words must have meaning. The radical view that ‘gender identity’ means the same things as ‘sex’ proved that when words aren’t defined, women pay the price,” said Kemper.
“President Trump’s executive order recognizes the erosion of women’s rights and denounces the conflation of ‘gender identity’ and ‘sex’. Now the government and our courts can’t misconstrue laws intended for women and girls. The American people asked for this clarity and President Trump delivered,” Kemper added.

Transgender activists often use the terms “gender” and “gender identity” interchangeably.

The World Professional Association for Transgender Health (WPATH) described how these terms are used synonymously in their gender medical guidance, called the Standards of Care version 8 (SOC 8), which is routinely used by medical associations, governments, and insurance companies in the U.S. and abroad to create policy driven by gender ideology.

“Depending on the context, gender may reference gender identity, gender expression, and/or social gender role, including understandings and expectations culturally tied to people who were assigned male or female at birth,” the SOC 8 states.

“Gender identities other than those of men and women (who can be either cisgender or transgender) include transgender, nonbinary, genderqueer, gender neutral, agender, gender fluid, and “third” gender, among others; many other genders are recognized around the world.”

This muddying of language is found throughout medical institutions including The National Institutes of Health who define gender as “A multidimensional construct that encompasses gender identity and expression, as well as social and cultural expectations about status, characteristics, and behavior as they are associated with certain sex traits.”

The Trump administration acknowledged how the corruption of language by transgender activists has had an “corrosive impact” on American society, stating: “The erasure of sex in language and policy has a corrosive impact not just on women but on the validity of the entire American system,” in the EO. “Basing Federal policy on truth is critical to scientific inquiry, public safety, morale, and trust in government itself.”

The term “gender identity” was popularized in the 1960s by controversial sexologist John Money, whose most high-profile experiment involved advising parents of a boy whose penis was damaged in a botched circumcision to cut the rest of it off and raise him as a girl. At age 15, the boy — who was raised as “Brenda” — discovered the truth and rejected further hormone treatments. He eventually committed suicide at age 38.

Gender ideology believes a person’s sex can differ from their “gender identity,” rejecting the long-established scientific understanding of biology that there are only two sexes based on the fact there are only two types of reproductive cells — sperm and ova.

The very concept of “gender identity” creates the possibility of changing one’s sex — a biological impossibility — through medical interventions, therefore creating a demand for medical sex reassignment interventions.

WPATH defines “gender identity” in the SOC 8 as “a person’s deeply felt, internal, intrinsic sense of their own gender,” whereas the Trump administration defines it as “A fully internal and subjective sense of self, disconnected from biological reality.”

The EO further explains that because “gender identity” is wholly subjective to the individual, it cannot be used to replace the objective reality of sex.

“‘Gender identity’ reflects a fully internal and subjective sense of self, disconnected from biological reality and sex and existing on an infinite continuum, that does not provide a meaningful basis for identification and cannot be recognized as a replacement for sex,” Trump’s EO states.

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