@7:40 - slight correction, she wasn't offered another position in cabinet, she was offered a made up position with no staff, no authority, and no budget. She was being fired in everything but name.
Politicians bailing suggests things are far worse than we are being told. We are not talking about a recession but a worldwide depression. The government mismanagement is seen in many countries around the world. Zero easy fixes. A lot of pain coming for everyone. Revenue set to drop next year.
Appreciate all the discussion on the energy sector. People need to understand how how important having access to low cost power / energy is to our prosperity. It was also quietly announced this week the Federal gov’t backed away from its “Net Zero Grid by 2035” initiative, as it was basically an impossible target. Exactly what Alberta and other governments have been saying since they announced it!!
"People need to understand how important having access to low cost power / energy is to our prosperity" I completely agree, but there's no point of having prosperity if the world is on fire. Cheap energy should also be sustainable which is why we need to invest in nuclear. Even though China may use a lot of coal it doesn't change the fact that they're making long-term investments in clean energy. Hell, a quick google search shows the very same IEA stating that coal demand is peaking and will plateau to eventually decline.
It is a sad situation when the hard working good people of Canada are being held hostage by a part time incompetent drama teacher and his selfish minions. What a sick Christmas story 😢
Steve - BC exports metallurgical coal for the most part. That's the carbon that goes into carbon steel. Thermal coal isn't generally worth enough to ship long distance. They're separate commodities which don't overlap with each other.
@@saretsky That would appear to be American coal that's going through the port. There might be a little bit of thermal mixed in with the met mines, but it's not really much of a factor in BC's economy. I agree about then LNG though.
36:45 look up the USD milkshake theory- US will suck up more liquidity/ capitol- best thing to do is put all cash in USD, and only buy US stocks to get the forex play in addition to the growth/ dividends
You know the top of his chart is gold right? Why not skip all the extra steps and go straight to the best asset? Especially since the more the USD devalues the more expensive gold gets.
Appreciate your comments. Perhaps at some point you could discuss what be the consequences of Trump politicizes the Federal Reserve. I’m thinking that the US could see an infusion of capital into corporate markets, lower borrowing costs, but an uncheck rise in inflation.
We all know that many politicians that are not caught in being corrupted actually may do well front running some of the things before the are told to the Canadian public
Ministers don’t need to be subject matter experts in their department, . They are the political spokesperson for the ministry. It is the deputy minister and assistant deputy minister in each department that are the subject matter experts. The most famous example of this was John Snobelen who was the education minister in Ontario for Premier, Mike Harris. Snobelen - the education minister was a high school dropout. Premier Mike Harris famously was a golf pro.
I agree that ministers don’t have to be subject matter experts but it helps in critical portfolios like finance and attorney general. At the very least they should have a basic understanding so that they have a critical opinion of what their deputies are proposing.
This is the reason I respect this podcast so much. Probably one of the fewest pods in western world that is saying the BRICS currency is not going to happen. It's just a stupid bargaining chip. India will never participate in anything like this. They're just waiting for the US regime change to happen. The world will set to lose with a USD alternative and it will definitely impact India's growth.
How much of the debt budget is from added hiring of government employees under Trudeau? And where would the real labour numbers be if it wasn't for new govt hires?
Carney is close friends with Freeland - I don’t think he’d ever run her over in this way. He’s the god-parent to her children 😂 Not sure how Trudeau was so crazy to think either of them was going to follow his plan.
You guys should reach out to Kevin O'Leary. I wonder if he would come on? He is pitching a $70 billion project in Alberta due to access to cheap natural gas. He would be absolutely raging against the current federal government though. lol... An interesting account to watch is Bill Ackman. I think he has a bit of a man crush on Pierre. He keeps on reposting videos of Pierre and swooning over him. Pierre is another person that would be interesting to get on even though I know Steve tries to avoid making the show too political. There could be a way to just convince Pierre to do it in such a way that its not just him going off about Trudeau and instead just talk about the issues and have a discussion about how some of them can be fixed.
@@saretsky nice... I'll have a listen. While scrolling through I saw you had O'Toole on as well. I think with Pierre if you can just get him to focus on what needs to be done it could be a great conversation. I think all three of you could provide some good input. Canada has a lot of potential. We just need proper leadership that will focus on the right things.
Manufacturing wages in Canada average $21.60 in USD after the CAD conversion. In the USA the same worker - $28.30. One would think with such low wage parity US businesses would be ramping up in Canada but they aren't.
I supported the carbon tax initially. Then, after it all went to General revenue, and the only sector of the economy that grew massively recently is the government… I now don’t support it and I especially don’t support the increase that’s coming through. Also, someone recently mentioned that given the land and the amount of trees that we have we are carbon neutral, or even negative. I would really enjoy a discussion on this topic.
While it's partially true that Canada's land and forests act as a carbon sink, with the recent forest fire phenomenon all the carbon they sucked up is being released back into atmosphere PLUS all the additional organic matter which is buring. It takes a quick google search to see this. There's no point of being prosperous if the world is on fire.
Randy Strong-Eagle-Man up should have taken the Finance Minister job…Was his chance to make amends for all the other clown shows he was apart of. Oh, Randy.
Merry Christmas, everyone! I can’t wait to see the look on everyone’s face glaze over as I start talking about the episode at Christmas dinner tonight!
THANK YOU Keith for mentioning that most if not all currencies are down to the USD. Im tearing my hair out on Twitter/X about the DXY. Its absurd the amount of people who think this is a Canadian only issue.
No need to beat a dead horse. The Liberals are gone for 20 years. We need intelligent policy from those about to set it. Focus on where the power is and get in their ear.
miss direction...wait for the book to come out how it was all staged aka drama teacher story's for the simple sheep the drama teacher said he will Shepard us into future
The DEBT hangover..... which devoid of massive debasement based inflation ? or DEBT servicing wage growth expansion derivable from equally DEBT expansion reliant gdp ..... will be serious and affect everything into recession until the deleveraging cycle entrenches to far lower stds of living.
am i hearing a bullish side to steve here on Canada? damnnn bro . 100% agree! you cant go lower then we are right now...buy canadas dip ! wait till pierre comes in next year its game over bro . we;ll never be america but we can go back to being Canada again. Im bullish on canadas next 3-5 years.
The rats in parliament are running away from the sinking ship
Great show guys. Hats off to you Steve for being the only one to say Merry Christmas.
I have never looked forward to an eposide like I have for this one. Crazy week. Enjoy Christmas boys!
Merry Christmas !
The baby sitter is still doing political baby sitting. LOL. 😮
Starts @ 5:54
@7:40 - slight correction, she wasn't offered another position in cabinet, she was offered a made up position with no staff, no authority, and no budget. She was being fired in everything but name.
drain the swamp!!!! Steve for PM!!!!!
Politicians bailing suggests things are far worse than we are being told. We are not talking about a recession but a worldwide depression. The government mismanagement is seen in many countries around the world. Zero easy fixes. A lot of pain coming for everyone. Revenue set to drop next year.
Happy Holidays boys and Merry Christmas 🎄
Appreciate all the discussion on the energy sector. People need to understand how how important having access to low cost power / energy is to our prosperity. It was also quietly announced this week the Federal gov’t backed away from its “Net Zero Grid by 2035” initiative, as it was basically an impossible target. Exactly what Alberta and other governments have been saying since they announced it!!
"People need to understand how important having access to low cost power / energy is to our prosperity" I completely agree, but there's no point of having prosperity if the world is on fire. Cheap energy should also be sustainable which is why we need to invest in nuclear. Even though China may use a lot of coal it doesn't change the fact that they're making long-term investments in clean energy. Hell, a quick google search shows the very same IEA stating that coal demand is peaking and will plateau to eventually decline.
I wonder if Freeland viewed the offered demotion as just a vibe?
Happy Holidays boys!! Thanks for all you do!
Merry Christmas
It is a sad situation when the hard working good people of Canada are being held hostage by a part time incompetent drama teacher and his selfish minions.
What a sick Christmas story 😢
MERRY CHRISTMAS 🎄 🎉!!!
Steve - BC exports metallurgical coal for the most part. That's the carbon that goes into carbon steel. Thermal coal isn't generally worth enough to ship long distance.
They're separate commodities which don't overlap with each other.
30% of it is still thermal coal. Second largest export is natural gas. My point stands
@@saretsky That would appear to be American coal that's going through the port.
There might be a little bit of thermal mixed in with the met mines, but it's not really much of a factor in BC's economy.
I agree about then LNG though.
We're stuck with Trudeau for at least another month.
Singh just posted a letter saying the NDP will vote non confidence and this liberal government is done.
This Singh is liar . Don’t trust him.
@@GoodCitizen-eh1id very true. But he has typed it up on official parliament letterhead and posted it on X, Freeland style. So we got receipts.
@@steveshideler1333 he is good at ripping agreements
@@GoodCitizen-eh1id don’t disagree. Here’s me hoping for a Christmas miracle!
36:45 look up the USD milkshake theory- US will suck up more liquidity/ capitol- best thing to do is put all cash in USD, and only buy US stocks to get the forex play in addition to the growth/ dividends
You know the top of his chart is gold right?
Why not skip all the extra steps and go straight to the best asset? Especially since the more the USD devalues the more expensive gold gets.
Orange coin gud
Merry Christmas you guys. Keeping it real as always, cheers, Richard
Thanks, man.
Appreciate your comments. Perhaps at some point you could discuss what be the consequences of Trump politicizes the Federal Reserve. I’m thinking that the US could see an infusion of capital into corporate markets, lower borrowing costs, but an uncheck rise in inflation.
How is Jagmeet Singh worth $75-ish million on his salary? Hmm........yet the working class view him as their leader, LOL
We all know that many politicians that are not caught in being corrupted actually may do well front running some of the things before the are told to the Canadian public
Simple. Same as Joey B. Official stealing. 😅
I’m afraid to admit, Bitcoin isn’t going away. I want to get a 5% position and I will dollar cost average into it
Just move to Alberta Steve. BC has become a brothel - visit, play, pay and get out.
Covid was not free time to pay the bill
Ministers don’t need to be subject matter experts in their department, . They are the political spokesperson for the ministry. It is the deputy minister and assistant deputy minister in each department that are the subject matter experts. The most famous example of this was John Snobelen who was the education minister in Ontario for Premier, Mike Harris. Snobelen - the education minister was a high school dropout. Premier Mike Harris famously was a golf pro.
I agree that ministers don’t have to be subject matter experts but it helps in critical portfolios like finance and attorney general. At the very least they should have a basic understanding so that they have a critical opinion of what their deputies are proposing.
Popcorn is not my goto leading up to Christmas but this past week of theatre begs for it 🍿.
BC coal is for steel production, not for power plants btw
Both.
Low growth but high inflation? How tf does that work?
Totally agree about the data centres! Labrador could be a major player for that.
BC Hydro also exports hydro power - Sooo my question is how do they manage to import it also? Quite the quagmire it appears
They do both. But on net they have imported more power in 5 of the last 9 years.
@@saretsky 👍
This is the reason I respect this podcast so much. Probably one of the fewest pods in western world that is saying the BRICS currency is not going to happen. It's just a stupid bargaining chip. India will never participate in anything like this. They're just waiting for the US regime change to happen. The world will set to lose with a USD alternative and it will definitely impact India's growth.
14:43 im Peru, and everyone is asking me if Canada is ok 😂
Trudeau's ego will not let himself resign.
How much of the debt budget is from added hiring of government employees under Trudeau? And where would the real labour numbers be if it wasn't for new govt hires?
this is nothing short of a dereliction of duty
The bond market is crazy
Carney is close friends with Freeland - I don’t think he’d ever run her over in this way. He’s the god-parent to her children 😂
Not sure how Trudeau was so crazy to think either of them was going to follow his plan.
I love how people cry about 60 billion deficit....USA deficit 2 trillion LMAO. just let that hit. let it hit baby!!!
BCHydro exports power when it's expensive and imports when power is cheap.
And Net net still imports more power in 5 of the past 9 years.
Let me guess. Crystia Freeland is your big surprise 2025 guest. 😂
That would be hilarious
Office Party Christmas too offensive for the boomer, lol.
Germany also had nordstream pioelibe blow up. Resulting in rhem paying 5x dor nat gas
You guys should reach out to Kevin O'Leary. I wonder if he would come on? He is pitching a $70 billion project in Alberta due to access to cheap natural gas. He would be absolutely raging against the current federal government though. lol... An interesting account to watch is Bill Ackman. I think he has a bit of a man crush on Pierre. He keeps on reposting videos of Pierre and swooning over him.
Pierre is another person that would be interesting to get on even though I know Steve tries to avoid making the show too political. There could be a way to just convince Pierre to do it in such a way that its not just him going off about Trudeau and instead just talk about the issues and have a discussion about how some of them can be fixed.
Pierre was on my show a few years ago. Working on getting him back
@@saretsky nice... I'll have a listen. While scrolling through I saw you had O'Toole on as well. I think with Pierre if you can just get him to focus on what needs to be done it could be a great conversation. I think all three of you could provide some good input. Canada has a lot of potential. We just need proper leadership that will focus on the right things.
Manufacturing wages in Canada average $21.60 in USD after the CAD conversion. In the USA the same worker - $28.30. One would think with such low wage parity US businesses would be ramping up in Canada but they aren't.
Bc of high corporate tax rate.
Diehard every Christmas baby!! 🤘
#1!
I supported the carbon tax initially. Then, after it all went to General revenue, and the only sector of the economy that grew massively recently is the government… I now don’t support it and I especially don’t support the increase that’s coming through. Also, someone recently mentioned that given the land and the amount of trees that we have we are carbon neutral, or even negative. I would really enjoy a discussion on this topic.
While it's partially true that Canada's land and forests act as a carbon sink, with the recent forest fire phenomenon all the carbon they sucked up is being released back into atmosphere PLUS all the additional organic matter which is buring. It takes a quick google search to see this. There's no point of being prosperous if the world is on fire.
Randy Strong-Eagle-Man up should have taken the Finance Minister job…Was his chance to make amends for all the other clown shows he was apart of.
Oh, Randy.
😂
Relax, it's only Canada.
Merry Christmas, everyone! I can’t wait to see the look on everyone’s face glaze over as I start talking about the episode at Christmas dinner tonight!
what time does it start?
Yes!!
Watch It’s Always Sunny in Philadelphia’s Christmas Special, boomer. Freaking amazing! Either that or Bad Santa 2. Classics.
Keith, is there no snow out East? Or do you secretly live in North Carolina?
No snow. Major hit tonight. About a foot expected.
@@shelterskelter is right.
THANK YOU Keith for mentioning that most if not all currencies are down to the USD. Im tearing my hair out on Twitter/X about the DXY. Its absurd the amount of people who think this is a Canadian only issue.
Agreed 100%
Been thinking - Pierre has been spouting that off for some time
Coopers Camera & Trailer Park Boys Christmas are Christmas Classic movies
No need to beat a dead horse. The Liberals are gone for 20 years. We need intelligent policy from those about to set it. Focus on where the power is and get in their ear.
Never count these doorknobs out. They were decimated after chretian or martin to what, 5 seats, and abt 10 or so yrs later huuuuuuge majority
miss direction...wait for the book to come out how it was all staged aka drama teacher story's for the simple sheep the drama teacher said he will Shepard us into future
Boring!! 😮 The primary word you all use is "basically"...ho hum. Merry f ing Christmas 🎄.
Why would you step-down voluntarily when you have backdoor channels that are siphon money in directions that people don't know about! 😂
The DEBT hangover..... which devoid of massive debasement based inflation ? or DEBT servicing wage growth expansion derivable from equally DEBT expansion reliant gdp ..... will be serious and affect everything into recession until the deleveraging cycle entrenches to far lower stds of living.
am i hearing a bullish side to steve here on Canada? damnnn bro . 100% agree! you cant go lower then we are right now...buy canadas dip ! wait till pierre comes in next year its game over bro . we;ll never be america but we can go back to being Canada again. Im bullish on canadas next 3-5 years.
First 😂
ooops
@@ar6888 🤣👍
Yet you wasted it.