In Conversation with David Frum: Canada and U.S.'s diverging economies & Mike Harris's legacy
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- Опубліковано 2 жов 2024
- This is the forty-fifth episode of The Hub's bi-weekly series featuring Sean Speer in conversation with leading author, journalist, and thinker David Frum. The two cover the growing divergence between the United States's fast-growing economy and Canada’s slow-growing economy and what the differences might tell us about policy and politics in the two countries. They also discuss a new book about former Ontario Premier Mike Harris’s own policy and political legacy.
The Hub Dialogues feature The Hub's editor-at-large, Sean Speer, in conversation with leading entrepreneurs, policymakers, scholars, and thinkers on the issues and challenges that will shape Canada's future at home and abroad. The episodes are generously supported by The Ira Gluskin And Maxine Granovsky Gluskin Charitable Foundation.
If you like what you are hearing on Hub Dialogues consider subscribing to The Hub's free weekly email newsletter featuring our insights and analysis on public policy issues. Sign up here: thehub.ca/free....
Thanks for bringing David Frum to us again. I am genuinely appreciative of his explanations. I don't always agree but value the way he manages to outline what has and will be happening.
Thanks for once again getting David's comprehensive insights out into the Canadian political discourse. I'm politically left of center but I find David's broad grasp of the international zeitgeist and right of center outlook keeps me grounded. I am hoping to see your podcast grow because I find it relevant. Thanks again for bringing this to us.
I couldn't agree more but Sean wins the bookshelf award not to mention the thoughtful questions.
David points out some interesting differences between Canada and the US that contribute to our divergent economic numbers. However, he was remiss in not mentioning historically low foreign investment levels based on excessive government regulation and an unwillingness to leverage our key advantages in the resource sector. In other words, who in their right mind would want to invest in Canada with this government at the helm? Some would argue we've already squandered $250B in resource development under the Libs. Australia, with one third fewer people than Canada is about to overtake us in GDP. I realize you may have been trying to keep the interview from being too overtly political, but thanks to the Trudeau government, these are some hard core facts. Bottom line is, our future prosperity is at risk thanks to these economically illiterate clowns.
We don't need to make a dying Industry a larger part of the current GDP.
@@sandorski56 Congratulations! You just won stupid comment of the day!
The COVID deaths in Canada were more closely with its percentage of the world population than the U.S which has 7% of the world population but 20% of the deaths. As for the diverging economies, the US is Canada's largest trading partner. When the US leadership goes on about applying Tariffs based on alternative facts, it discourages American companies from purchasing Canadian goods. Which is why it would be wise for Canada to be able to diversify its trade partners by increasing trade with the British Commonwealth, the European Union and Asian allies.
Canada has developed technology which can produce synthetic fuels compatible with gasoline engines and jet fuels which can compete with oil at 100$ USD a barrel. So when oil reaches that price, the producers of these fuels go online and this puts a cap the profits that big oil can gain when this happens. Occidental has a spinoff working on a plant to produce fuels using this tech developed in Squamish.
I find that when people have to resort to insults such as "economically illiterate clowns" they tend to do this to mask their own incompetence on a subject.
@HepCatJack while still alot higher, my math says about 17.5 percent. Where did covid deaths come from anyway?
Hundred of thousands of dollars on tax preparation? By what measurement? An average American isn't spending that on tax preparation in their entire lifetime. Admittedly, I've so far in my life had pretty basic taxes, but I've been able to easily file them myself with the free version of turbotax.. takes me about an hour. Even a family with more deductions or complex taxes that pay to have their taxes done isn't even spending $1,000 to have them completed and filed.
I'm sure some business owners or rich people might spend that much, but if they are, they're doing it for a reason. Probably to benefit from tax breaks/loopholes..
I doubt most small businesses are even spending that much over the life of their business.
David in 1982 was obviously not in Alberta when tens of thousands of Albertans were foreclosed out of their homes. We bought a house in 1981 with $35,000 down (probably 200,000 in today’s dollars). 4 years later it was gone and my wife and kids were in a one bedroom apartment and I’m sleeping on a mattress in a back room of my office working most hours of the week. This was not an isolated case. Like I said tens of thousands of Albertans
Why, what happened exactly? Thanx.
@davidfrum
1. What was the spending JTrideau did that ended up fueling asset bubbles such as housing? What's the specific name of the program or the line item,
2. How was getting rid of Toronto rent control good? Sounds to me like that was a major cause to housing inflation.
Rent control is not practical unless it is accompanied with property tax control. When taxes based on property market evaluation go higher than a property owner can pay because of rent control limits income, the property starts to decay because it no longer maintained and eventually the keys must be handed back to the mortgage owner. The property investor will instead to invest in industrial, cell tower, data center properties, hotel properties instead.
Sean, I can show you how to support your bookshelves properly, if you like. David's taken a different approach.
Housing analysis is dead on.
Why did no one talk about ridiculous home prices in Canada until only in the last year or so?
Montreal, Quebec
We have to get rid of the part of the financial economy which aims to extract so much wealth from countries and individuals.
I woulld drop the leading and the thinker deal. 14 years of 13% increases in PET reign of terror and debt. Harris was a great Premier who took over a huge mess.
We get upset when our expectations change.
I wonder if David Frum has ever considered running for the PC leadership. His communication skills would go a long way towards helping Canadians understand the bitter medicine that is sometimes needed here. Combined with his deep understanding of economics and politics I think he'd prove himself worthy.
Nah, he makes too much sense for most pin head Canadian voters 😔
Yes, Canada is heavily dependant on trade, and Mortgage debt is crushing here-very true- funny in the 60's/70's Canadians had tons of savings compared to Americans.
So true what he says about perceived improvement around 13...I recently showed some of my adult kids, using Google Earth, the first homes of my parents and grandparents, and in the case of my grandparents, my kids were shocked (at the homes tiny size) , even more so when I pointed out in all three cases, none owned a home until they were in their 50's. Eyes open.
Chrétien and Martin got the benefit of the GST and the rapidly rising oil revenue
‼EVERYONE unhappy with Trudeau & Singh Coalition! PLEASE ****** SIGN & SHARE Fed Petition e-4701 to call a NON CONF VOTe !⚠ ⚠
Canada has abandoned mining towns that could be used to house immigrants as they wait to go through the red tape. When saw mill towns and mining towns become abandoned, the properties should be maintained by a REIT and when the government needs housing for immigrants, it could contact the REIT which would supply the housing. Access to the internet would make it possible for Canada immigration to be able to interview the people remotely. Once the immigrants have a right to work in Canada, and they find a job (the govt can facilitate this with Internet access and devices in these towns then they can move to where the job (unless they are able to find a work from home job) the govt could transport them from the remote area to the city of employment. Similarly, the downtown areas of the larger cities have empty office space some of which could be managed and converted to residential by the REIT).
Treaudu must Go now very soon ASAP