Latest / Kvetch & Release / 610 CKTB| Carney's Double Defeat: High Priest of Project Fear Loses to Trump, Plunging Canada's Industrial Heartlands Into Crisis

Transcript

610 CKTB| Carney's Double Defeat: High Priest of Project Fear Loses to Trump, Plunging Canada's Industrial Heartlands Into Crisis · Kvetch & Release

• 0:00
  Speaker 1: It's Jeane Belitis on Niagara's News and Song six' ten C.
• 0:04
  Speaker 1: Ktv all, right it's A tuesday and you can get
• 0:08
  Speaker 1: a hold of me right. Now though our regular contributor
• 0:11
  Speaker 1: here on A tuesday, Morning John litkey is joining. Us,
• 0:15
  Speaker 1: John good, Morning.
• 0:16
  Speaker 2: Good, Morning.
• 0:17
  Speaker 1: Jean, hey great to have you. Here, wow the budget.
• 0:20
  Speaker 1: Passed and that, means As i've pointed out a number of,
• 0:24
  Speaker 1: times maybe too, often that When canada goes to bed
• 0:27
  Speaker 1: On saturday, night the amount of tax dollars to service
• 0:33
  Speaker 1: the debt is one billion. Dollars not just not on occasional,
• 0:38
  Speaker 1: weeks it's every Single saturday, night Because sunday starts the new.
• 0:41
  Speaker 1: WEEK a billion. Dollars that'll Happen saturday night Next, saturday billion,
• 0:45
  Speaker 1: DOLLARS a billion, dollars a billion. Dollars and this is
• 0:49
  Speaker 1: a budget That Mark carney, owns and it was a
• 0:53
  Speaker 1: passed last. Night, Now Mark, carney before he came back To,
• 0:56
  Speaker 1: canada was the governor of The bank Of, england and
• 1:00
  Speaker 1: he was the governor over in THE uk During, brexit
• 1:05
  Speaker 1: and we don't have a trade, deal and that was
• 1:08
  Speaker 1: a trade. Deal so if you take a look at
• 1:11
  Speaker 1: his experience With, brexit and if you take a look
• 1:14
  Speaker 1: at the fact that we don't have a trade deal
• 1:17
  Speaker 1: with The United, states how's this all going to? Unfold
• 1:20
  Speaker 1: and how do you see?
• 1:21
  Speaker 2: It you, know there are remarkable similarities here and it
• 1:25
  Speaker 2: should be remembered That Mark carney was referred to as
• 1:28
  Speaker 2: The High priest Of Project fear when he was The
• 1:31
  Speaker 2: governor of The bank Of england because of his dire
• 1:33
  Speaker 2: warnings that he made about economic damage and a recession
• 1:36
  Speaker 2: if THE uk were to leave THE. Eu and he's
• 1:39
  Speaker 2: doing really the same thing right now as framing our
• 1:42
  Speaker 2: massive deficit spending as A trump survival plan to prevent
• 1:46
  Speaker 2: a recession FROM Us. Harris, now things didn't work out
• 1:49
  Speaker 2: for him that well During brexit when he was The
• 1:51
  Speaker 2: governor of The bank Of, england the immediate recession didn't.
• 1:54
  Speaker 2: Materialize brexit supporters branded him AS i said The High
• 1:58
  Speaker 2: priest Of, fear said that he was politically biased here
• 2:01
  Speaker 2: though he has survived the confidence, vote but he's still
• 2:04
  Speaker 2: facing accusations of living in a fiscal fantasy. Land THE
• 2:08
  Speaker 2: pbo has said that an over alliance on capital spending
• 2:12
  Speaker 2: is being. Redefined but you, know in his, defense in both,
• 2:16
  Speaker 2: instances he argued that he was performing his duty to
• 2:20
  Speaker 2: warn of the risks to financial stability in THE uk
• 2:23
  Speaker 2: and economic stability. Here he seems to have a lot
• 2:27
  Speaker 2: of rope right now still in the marketplace of. Ideas
• 2:31
  Speaker 2: it really comes down, to, though If canadians tire Of Donald,
• 2:35
  Speaker 2: trump how long Is Mark carning going to be able
• 2:38
  Speaker 2: to frame this as an existential dire threat and not
• 2:41
  Speaker 2: his own.
• 2:42
  Speaker 1: Actions, yeah you, KNOW i like to use real world,
• 2:45
  Speaker 1: examples and you know In West NI i grew. Up
• 2:49
  Speaker 1: we Have, Hamilton ontario home With stelco and a number
• 2:52
  Speaker 1: of other companies that produce steel and steel related. Materials
• 2:56
  Speaker 1: by not having this trade deal in effect with THE
• 2:59
  Speaker 1: us house It, so how's it going to affect the
• 3:01
  Speaker 1: steel industry that this whole region relies.
• 3:04
  Speaker 2: On, yeah no, kidding, Right we Saw National steel car
• 3:07
  Speaker 2: is expected to see mass layoffs just before Come. Christmas how.
• 3:10
  Speaker 2: Terrible they haven't had any new orders since the tariffs
• 3:13
  Speaker 2: came in on steel imports in the. SPRING a third
• 3:16
  Speaker 2: or our national income comes from our. Exports more than
• 3:19
  Speaker 2: seventy percent of that goes straight to THE. Us and
• 3:22
  Speaker 2: while a majority of our goods are still protected under
• 3:25
  Speaker 2: the UF's Mca trade. Agreement these sector specific tariffs are
• 3:29
  Speaker 2: really hurting, us the steel and, aluminum the car, tariffs
• 3:32
  Speaker 2: the energy. TERRAFFS i mean we're talking right There, Starnia, Hamilton,
• 3:38
  Speaker 2: brampton windsor the industrial heartlands that we have in this country,
• 3:42
  Speaker 2: here and we can't really make it that much longer
• 3:46
  Speaker 2: if these tariffs don't get removed or a resolution doesn't.
• 3:49
  Speaker 2: Come and then the real concern is If Donald, trump
• 3:51
  Speaker 2: we've got the renegotiation of THE usmca trade agreement coming,
• 3:55
  Speaker 2: up he could use that to really just start whipping
• 3:58
  Speaker 2: us all over the. Place and you know, what maybe
• 4:00
  Speaker 2: we just tear the whole thing up and everything gets
• 4:02
  Speaker 2: put under. Tariffs so this is a really precarious.
• 4:05
  Speaker 1: Situation, yeah you, know it's interesting you bring up the
• 4:08
  Speaker 1: example of a national steel. Car as soon as the
• 4:11
  Speaker 1: tariffs went into, place like everybody just stopped ordering from.
• 4:15
  Speaker 1: THEM i, mean everything just.
• 4:16
  Speaker 2: Disappeared, well you, know we saw that as well here DURING.
• 4:21
  Speaker 2: Covid when there are interruption to supply, chains when there
• 4:24
  Speaker 2: is uncertainty in, industries in, finance and people don't want
• 4:29
  Speaker 2: to you, know get their feet, wet capital dries, up
• 4:32
  Speaker 2: people get conservative with their, money they put it into
• 4:34
  Speaker 2: places where that they feel is more. Comfortable and if that,
• 4:38
  Speaker 2: means you, know procuring your product in The United, states
• 4:42
  Speaker 2: that's one way to do, it to beat the. Tariffs
• 4:44
  Speaker 2: and if it means not investing in other, jurisdictions that's another.
• 4:47
  Speaker 2: WAY i just saw YESTERDAY gm gave most of their
• 4:51
  Speaker 2: suppliers until twenty twenty seven to remove their entire supply
• 4:55
  Speaker 2: chains From. China so we're watching a major de coupling
• 4:59
  Speaker 2: of The United states from the global trade system that
• 5:02
  Speaker 2: we've come to know over the past you, know sixty.
• 5:04
  Speaker 1: Years, yeah you, know here's SOMETHING i can't figure. Out you,
• 5:07
  Speaker 1: know here in The niagara, region Specifically niagara on The.
• 5:10
  Speaker 1: Lake last week THE g seven foreign ministers met and
• 5:14
  Speaker 1: it was hosted by our foreign, Minister Anita anand now
• 5:17
  Speaker 1: she met up With Marco, rubio THE Us State, secretary
• 5:21
  Speaker 1: on three different. Occasions and she was asked by a, reporter,
• 5:25
  Speaker 1: well did you bring up the subject of getting the
• 5:28
  Speaker 1: trade talks going? Again and she said, no basically saying,
• 5:33
  Speaker 1: well without actually saying, it she, said, well it's not my,
• 5:36
  Speaker 1: job and she was leaving it up to another, Minister
• 5:40
  Speaker 1: BUT i, mean come, on you have the golden, Opportunity,
• 5:42
  Speaker 1: marco let's get these talks. Going and she said. No
• 5:45
  Speaker 1: and in her comment she was going on about The haitian. Dispord,
• 5:50
  Speaker 1: oh it was a word, salad not even worthy of
• 5:53
  Speaker 1: being called a. Salad did she not miss a golden? Opportunity, John,
• 5:57
  Speaker 1: oh she absolutely.
• 5:58
  Speaker 2: DID i, mean this is This you use every opportunity
• 6:01
  Speaker 2: that you. Have do a pull, aside do a grip and,
• 6:03
  Speaker 2: grin whisper in his. Ear for gosh, sake can just
• 6:06
  Speaker 2: say can we get over this? Please you know that
• 6:08
  Speaker 2: this is hurting you guys. Too we don't want to
• 6:11
  Speaker 2: have this fractious. Relationship but when you look at our
• 6:14
  Speaker 2: allies right, now you has secured a, Deal china has
• 6:19
  Speaker 2: even received like a daytime for a. Year And. Mexico
• 6:23
  Speaker 2: the day After trump ripped up our trade agreement, negotiations
• 6:26
  Speaker 2: The mexican President, steinbaum she came out and, said you, know,
• 6:29
  Speaker 2: hey our talks with THE us is going really really.
• 6:32
  Speaker 2: Well and it was, almost you, know just sort of
• 6:33
  Speaker 2: a spit in our. Face so we missed an opportunity
• 6:37
  Speaker 2: there with our foreign. MINISTER i don't know what it
• 6:39
  Speaker 2: is that we're. DOING i thought maybe the strategy was
• 6:42
  Speaker 2: they were waiting to secure a majority government so that
• 6:44
  Speaker 2: they actually would have that kind of you, know credence
• 6:48
  Speaker 2: to walk Into Donald trump and, say, Look i'm an
• 6:50
  Speaker 2: equivalent to, you but we're not having an election, Now
• 6:53
  Speaker 2: so what are we waiting.
• 6:54
  Speaker 1: For, well that's a very good. Question AND i think
• 6:57
  Speaker 1: Our prime, minister because he lived over, there wants to
• 7:01
  Speaker 1: get closer to The. Europeans but there is no way
• 7:03
  Speaker 1: on earth we could possibly do the amount of volume
• 7:07
  Speaker 1: and trade that we do Between canada and THE. Us
• 7:10
  Speaker 1: SO i don't know why he's looking At.
• 7:12
  Speaker 2: Europe you, Know diversification is it's really, smart it's. Good
• 7:17
  Speaker 2: we've seen what happens with an over alliance of all
• 7:19
  Speaker 2: your eggs in one. Basket BUT i got to agree
• 7:22
  Speaker 2: with you on, That and one of the main reasons
• 7:24
  Speaker 2: is transportation. Costs for gosh, Sake i'm getting something across
• 7:27
  Speaker 2: an ocean versus the integrated rail and road system that
• 7:31
  Speaker 2: we already have here In North. America so we've got
• 7:33
  Speaker 2: to fix this. Relationship and what we really need to
• 7:35
  Speaker 2: do is make sure that whatever the next administration is
• 7:39
  Speaker 2: doesn't continue these policies because they see the benefits for them,
• 7:43
  Speaker 2: domestically because otherwise we could end up in a multi
• 7:46
  Speaker 2: generational situation.
• 7:47
  Speaker 1: Here, now you, Know President trump was not a fan
• 7:51
  Speaker 1: Of Katy perry's boyfriend and they didn't get. Along and
• 7:55
  Speaker 1: because of that, tension you, Know Doug, ford Before Mark
• 8:00
  Speaker 1: karney got, Elected Doug ford was really the spokesperson For
• 8:04
  Speaker 1: canada and then he ran that commercial and that Got crump.
• 8:07
  Speaker 1: Upset do you Think carney is just kind of Blaming
• 8:10
  Speaker 1: ford for all the problems and is just sitting back
• 8:13
  Speaker 1: and waiting for the right time to get this thing.
• 8:15
  Speaker 1: GOING i don't know what he's waiting, for, though.
• 8:17
  Speaker 2: Killing and that's the, question. RIGHT i, mean it seemed
• 8:21
  Speaker 2: like they were doing a good cop bad cop. Thing
• 8:23
  Speaker 2: Doug ford was able to come out and brash his
• 8:25
  Speaker 2: stomach and be the eight hundred pound gorilla that he
• 8:27
  Speaker 2: always talked. About and then we presume That Mark karney
• 8:30
  Speaker 2: behind closed doors was being the smart column, technocratic diplomatic.
• 8:35
  Speaker 2: Politician but, again the key question is what are these
• 8:39
  Speaker 2: people waiting? For because these industries in our industrial heartland
• 8:42
  Speaker 2: can't afford to keep on. Waiting and while this budget
• 8:46
  Speaker 2: does provide relief in certain, circumstances it's all still administrative
• 8:51
  Speaker 2: and being able to pay WORKERS ei isn't really the
• 8:55
  Speaker 2: best thing when you're looking to revive industries keep them. Going,
• 9:00
  Speaker 2: yeah that's a band.
• 9:01
  Speaker 1: Aid and the interesting thing is nobody's flying off to
• 9:04
  Speaker 1: The United states this. Week in, fact The Prime minister
• 9:07
  Speaker 1: is heading off to The United Arab emirates and then
• 9:10
  Speaker 1: To South. Africa since this guy was, elected just in
• 9:15
  Speaker 1: terms of, travel he has circumvented The earth four. Times
• 9:19
  Speaker 1: that's how much how much time he's put in on.
• 9:23
  Speaker 1: Airplanes so we're not dealing with THE. Us he's off
• 9:26
  Speaker 1: to The Middle. EAST i don't. Know it doesn't make
• 9:28
  Speaker 1: sense to, Me, John it doesn't.
• 9:30
  Speaker 2: Make sense to. ME i don't get paid the big
• 9:32
  Speaker 2: bucks to sit in THE tmo and make the decisions or.
• 9:34
  Speaker 2: Advised but IF i could be suggesting one, thing it's
• 9:37
  Speaker 2: yet this major trading relationship that we have with the
• 9:40
  Speaker 2: best friend that we have on this planet back in.
• 9:42
  Speaker 2: Order we're going through a bad relationship right, Now but
• 9:45
  Speaker 2: like all, relationships there's, nups there's. Downs we might have
• 9:48
  Speaker 2: to make some concessions here or. There but if we
• 9:50
  Speaker 2: just keep putting our feet in the sand and refusing
• 9:53
  Speaker 2: to even engage in negotiations on. Things i'm not saying
• 9:56
  Speaker 2: that hold your cards, entirely but we've got to at
• 9:59
  Speaker 2: least play the game a little. Bit it doesn't even
• 10:01
  Speaker 2: seem like we're sitting at the. Table it seems like
• 10:02
  Speaker 2: we're outside of the.
• 10:03
  Speaker 1: Casino, yeah no, Kidding, john thanks so much for this.
• 10:06
  Speaker 1: Today we'll talk to you Next. Tuesday thanks. You, okay
• 10:09
  Speaker 1: there he Goes John, lidkey always giving us his perspective
• 10:13
  Speaker 1: on world. Affairs