Canada Led the World in Anti-Trump | Only G7 Nation in a Recession

are so nominal they could be forecasted away and revised away.So aren't you jumping the gun a little bit, calling this a full -blown recession?

Right.So, I know that there's a lot of excuses being made for Mark Carney today.

Are they trying to cover this up?What exactly are they hiding here?Pierre Palliev went at it with reporters on Parliament Hill today.I'm Jasmine Lane.Like, share, subscribe, comment your thoughts down below.And the Bank of Canada has confirmed something.

Many of us were called all sorts of names for saying out loud.So, I guess...We were right.

activity.Real GDP has now declined for two consecutive quarters, which meets the definition of a technical recession, although the data paints a mixed picture.

If you're like me, you heard technical recession and immediately thought, hmm, are they trying to lessen the blow of this?Because every headline says technical recession, right?Turns out that's actually used specifically to describe a certain scenario, which is where there are two consecutive quarters that are defined by negative numbers.GDP growth.Some of the nuance in it as well is that it's backward looking, it's not a forward projection, right, whereas a real true recession you would have a forward projection, which at the stage we're currently at I would not be surprised if we hit in the next quarter.But there are a couple of things that the government could do right now immediately to completely change this outcome, and I'll tell you what those are in a bit, but I did want to

say that it's kind of ironic, the timing of this, because just yesterday...We're now on track to double that addressable market this year with new deals with India, the ASEAN countries, Mercosur, Thailand, and the Philippines.We're the only non -European member of SAFE, which is the Europeans' Defense Procurement Initiative.

Mark Carney was in Manhattan telling a whole bunch of investors that Canada has the strongest fiscal position in the G7, that we are this amazing paradise to invest in.

Mark Carney now says a strong Canada will, quote, help make America great again.In front of a crowd of New York investors and financiers, Carney touted Canada as a good place to do business, part of his push to bring in investment and to coax the Americans to the negotiating table.

So this new reality probably doesn't help the Prime Minister's pitch yesterday in New York.And therein lies the problem itself of this particular government.It is the highlighting of these cherry -picked little points.And let's not forget that the International Monetary Fund, the IMF, has said that Canada is in the strongest fiscal position of the G7 because they were assessing the government's balance sheet, not the daily economic reality of Canadians, or even the private sector, or households in general, right?And so,contradiction is just so loud in terms of how reliable some of those things are.

And that's not to say that they're always unreliable, but when you're focusing on the cherry -picked data of the large federal picture and not the reality on the ground, it's exactly why, you know, RBC, TD Bank, all of their projections for Canada's economy were substantially lower.But maybe, just maybe, It will help him remove the bad laws in place that have put us in this situation.

And being true to our values also means continuing to invest in global public goods, in climate finance and development finance, even as others are sharply pulling back.

Just kidding.I can't even fathom the fact that Mark Carney is there with all of these other investors, the people who he knows.These are his people, right?And some of them are people who pulled out of the Glasgow Financial Alliance for net zero to see him on stage.still talking about this thing, acknowledging that nobody else is doing it, because these are the outcomes of it.

In the G7, to have plunged his economy into recession.He's been prime minister for four quarters now.The economy has shrunk in three of those quarters.He's the only G7 leader who can say that.The economy is smaller today than when Mark Carney became prime minister a year ago.He's the only G7 leader

can say that.Mark Carney will like to make excuses today, but let me ask him a question.But before I do, I'm going to actually quote back to him something he said to one of you.Mark Carney said to one of the journalists, Rosie, look inside yourself.Well, I'm going to ask Mark Carney to look inside himself, and I'll ask him directly.Mr. Carney, If it really is global factors and tariffs that have given Canada the only recession in the G7, why have France, Italy, Japan, Germany, the United Kingdom, and the United States all avoided a recession?

They all have the same tariffs and same global factors, yet none of them, not one, is in recession.Only Mark Carney has the distinction of leading his country into a recession.

And I really don't want you to let them bury the headline with the technicalities, right?Because there is a real picture being painted for us if we're willing to look at it right now.And the qualifier for a technical recession is doing so much heavy lifting at the moment.Household spending grew.This is coming from CBC News, but was largely canceled out by a decline in business and government investment.meaning regular Canadians are still spending, but confidence at the business and government level has totally collapsed.

Business capital investment has now fallen for five straight months.quarters.That is not a blip.That is a very concerning trend.Businesses don't invest when they don't trust the environment.The Bank of Canada chief economist, Douglas Porter, also said that it is quite possible this could be a statistical mirage.

But what I don't think is a debate is that we've basically seen the next to no growth over the past year.And that, of course, continued in the first quarter of this year.

And the United States all avoided a recession.They all have the same tariffs and the same global factors, yet none of them, not one, is in recession.Only Mark Carney has the distinction of leading his country into a recession.

The part that I don't quite understand about the narrative here is that this same chief economist, Mr. Porter, said, he told CBC, the past year of weakness can be pinned mostly on the trade war.is the government's escape hatch, right?And the media is just handing it to them.But the numbers do not support that as the primary cause in the slightest.And allow me to prove that for you in Mark Carney and Francois -Philippe Champagne's own words.It is literally in the introduction of the Canada Strong 2025 budget book.

I know that there is like a new one coming out, but this number still applies.That 85 % of Canada -US trade is tariff -free.Canadian exporters have the lowest average tariff of any country, although some sectors remain deeply impacted.Very true that that is accurate.It also says here that Canada has the best deal of any U .S.

trading partner.The sectoral tariffs are real.Canada's counter tariffs are also real and making things more expensive for Canadians right now.I know this because Redken, which is my hair care products, also all increased in price astronomically due to Canada's counter tariffs on the brand.That's my own little girly story for that but you know the pain in Ontario and Quebec manufacturing is real and we're not dismissing that in the slightest.What I am saying though is that every single other G7 country faces U .

S.tariff pressure right now.Some of them around the same amount as us and some of them much higher than ours.None of them are in recession.Canada walked into this trade war with five quarters straight of lower investment.in the business sector and whatever already in the books.

Per capita GDP was at 2017 levels.The Bank of Canada called Canada's productivity levels a national emergency way before Donald Trump ever signed that executive order.The trade war did not create our fragile economy.It certainly exposed it a bit more.The government wants this to be a Trump story.Of course they do, because then it's out of their control and they're just a victim of Donald Trump again.

But it's not that.It's so much deeper than that.The trade war was the storm, but liberal economic policy was what built the house of cards for the storm to go and blow over.Because if Canada's industrial base wasn't already weakened by a decade of underinvestment, regulatory uncertainty, and capital flight, these sectoral tariffs would have stung, of course.but they wouldn't have broken us, right?So that is something to really consider that, gosh, the media should do a far better job of really trying to poke some holes in and just being honest.

And you know what?If you want to make this a Trump tariff trade war, woe is me, we're such victims story.Did you know that in the 2025 election, the Conservative Party of Canada won more than 50 % of the ridings most severely exposed to US trade tariffs.In fact, In these trade exposed industrial ridings, the conservative vote share outperformed the party's national average by 2 .9%.That should tell you something.

Now, we know that there will be a lot of excuses today, but excuses will not put food on the dinner table of the 2 .2 million people relying on food banks.Excuses will not get the jobs back for the 120 ,000 people who've lost them as Canada has the second highest unemployment in the G7.Excuses will not allow a young couple to buy a home as Mark Carney has given Canada the worst housing costs in the G7.Excuses will not help the mother who is tossing and turning in bed at night wondering how she will make her mortgage payment as Mark Carney has made Canada the most indebted household, given Canada the most indebted households anywhere in the G7.And by the way, Mark Carney will claim that this is just technical.There's nothing technical about having an empty stomach because you can't afford paying the worst food inflation in the G7.

There's nothing technical about coming home from work and telling your kids that you no longer have a job and that they're going to have to sell the house because Canada has the second highest unemployment in the G7.That is not technical.It is real.This is a full -blown liberal recession.And it's not just one or two little data points that cause this, my friends.It is one of many data points that we see today.

For example, in the last few weeks alone, we have Fact after fact showing that the liberal economy is collapsing.I'm going to quote from Equifax.Insolvency volumes have increased to levels not seen since 2009, up 19 % year over year.Delinquency rates climbed 32 % year over year.In the first quarter of this year, insolvency volumes hit a 17 -year high, partly due to escalating financial strain on mortgage holders, and 1 in 1 .5 million Canadians missed a minimum debt payment in the first three months of this year alone.Then there's the investment numbers, which came out just yesterday.

They show that in the first four quarters under this Liberal Prime Minister,Canada saw $1 .9 billion of investment flee.That's $20 billion more than entered our country.That's a net $20 billion leaving our country to build pipelines, mines, homes, bridges, technology in other countries for foreign businesses and foreign workers.Again, we cannot blame foreign factors for that because the other countries to which that investment fled are facing the same foreign factors.So no more excuses please.

And isn't it kind of weird that if you go on to the news, you can go on to CTV or CBC, I'll include the pages right here.that the technical recession isn't the breaking news.It's actually not even on the homepage of CTV as I am writing this right now, despite it being a very big deal.Actually, Trump, the block on the Strait of Hormuz now being lifted, that is the breaking news in Canada.

In Q3 2025, the economy grew at an annualized rate by 2 .6%.We have economists saying that today's numbers are so nominal they could be forecasted away and revised away.So aren't you jumping the gun a little bit, calling this a full -blown recession?

Right.So I know that there's a lot of excuses being made for Mark Carney today, and I'm not surprised.By the way, which outlet are you with?

Is 2 .6 % economy growth an excuse?Or is that just the numbers?

is the case.There's now been an entire year of Mark Carney that is recorded in economic data and the GDP is smaller today than when he took office.That is only true of Canada among G7 countries.And now there are two back -to -back quarters where the economy shrunk, which is the literal definition of a recession.Canada, and by the way, it's not just that our economy is shrinking quarter after quarter, it's that we have the second highest unemployment in the G7.You think that the 120 ,000 people that lost their jobs since the beginning of this year call this just a technical recession?

No, they call this real job loss.And then you have the delinquency rate that is up 32 % year over year at 17 -year highs.We have the highest household debt of any country in the G7, the worst housing costs of any country in the G7 for most of the last year.the worst food price inflation of any country in the G7.So yes, you are making excuses and trying to hide from the reality that Mark Carney has given Canada the worst economy in the G7.And it's time to stop making excuses, not for political reasons, it's time to stop making those excuses because this is people's lives.

Behind these statistics are empty stomachs, empty fridges, and empty bank accounts.Behind these numbers are 120 ,000 people who have come home to their kids saying, we can't have you registered for hockey this year, we have to sell our home, I don't know what we're going to do.That is the reality of Mark Carney's economy, and it's trying to stop covering it up with illusions.

I am quite sure I know who that reporter was who asked that question, and he is liberal to my knowledge.And I genuinely like him.He's a really good person.So we can have those political differences, and it is what it is.So this isn't an indictment on him.This is an indictment on media as a whole, that the media's job

was to provide Carney's political cover by almost making this about semantics, right?That seems to be the go -to.The real story though is that the government is managing this narrative.

of the headwinds facing the global economy, trade wars, actual wars in the Middle East and in Europe.This government has a plan, a plan for infrastructure, for major projects, for investing in people and skilled trades workers, giving our young people an opportunity.But I think what Canadians are troubled by is the enthusiasm, the glee that they witness when the Conservatives parade on in here this morning and trumpet bad news in terms of these headwinds for the Canadian economy.It's time for the Conservatives to stop celebrating the challenges that we face and get on board.

Confirmed that Canadians are not doing well, that we are losing jobs.And the Bank of Canada, actually, this came out just a couple of days ago.Here's what the Bank of Canada had to say about youth unemployment and how it ties back to Liberal policy.

How can we explain this situation?The cyclical interpretation of high youth unemployment is quite simple.They are more likely to work in sectors sensitive to economic fluctuations, such as retail, culture, or leisure.Thus, when the economy slows down, youth unemployment tends to rise more than in other age groups.That said, the scale of the rise in youth unemployment suggests other factors are at play.Let us consider demographics, for example, specifically the massive influx of young foreigners between 2022 and 2024.

This situation has intensified competition in Canada forlow skilled jobs and other entry -level positions.

So I guess we weren't IS and FOBES for noticing that.I also don't think it's a very strong tell of your economy if you have various employers who are actively seeking low -wage, low -skill, temporary foreign workers so that they don't have to pay Canadians what Canadians are actually worth at all.That's not a good signal, right?But we can actually change the trajectory of the next quarter.We could do this today.We could do it tomorrow.

because the current economic status is technical recession.So scenario A, with a baseline, is we don't change anything at all.We just keep blaming it on everybody else.And well, you're going to have continued decline in investment, continued inflation, continued stagnated GDP.Or you could do the policy pivot.Scenario B, maybe you repeal all of those bad laws that are hurting us.

Maybe you offer tax relief for citizens.And guess what we would see?Well, we would have a rebound of GDP estimated at approximately 1 .8%, which is substantially better than what it's currently projected at.You could have business investment start to return to Canada and regain trust in Canada.And you could have long -term productivity spurred as a result of this predictability and this competitiveness.I wonder which one the Liberal government is going to choose to act on.

I have completely sidestepped that message.There's absolutely no agitation of financial markets on this front.But what I can say is that the Canadian economy is directly impacted by the trade war, directly impacted by the war in the Middle East.The costs of fuel are very high.Investment is down because of the uncertainty.

I understand the political incentive to lead with your best number.I get it.When GDP is growing, you say so, even if...It's by this tiny little thing, might be kind of manipulated, definitely doesn't tell the whole story.That's not unique to any one government or political party, but there is a very meaningful difference in putting your best foot forward and actively ignoring the reality for your people.So sure, GDP was growing largely because the population was growing at a historic pace.

GDP per capita, labor productivity, housing capacity, infrastructure actually being built, all of that has been quietly deteriorating long before Donald Trump came along.These were not obscure metrics in the slightest.They were all flagged repeatedly by independent economists, by parliamentary budget officers, and Canada's own statistical agencies.So the failure here wasn't completely just ignorance.It was the inaction they chose to take while bragging about those cherry -picked success data points, the same data points recycled in the exact same speeches while the structural erosion compounded beneath them.And maybe they thought that avoiding it could buy them a little bit more time, but I doubt that.

Because at the very least, if you're trying to buy yourself more time, you should be working double time in the background to fix the issues causing all of this.And you know, you can forgive a government for wanting to look good, but you cannot forgive a government for confusing the appearance of good governance with the practice of it.

Of course not.He won't do anything to make Beijing unhappy.A year after Mark Carney said that China was the single biggest risk to Canada, he claimed that we were going to have a full rupture with the United States in favor of a strategic partnership for a new world order.with the dictatorship in Beijing.Of course, Mr. Carney is in a terrible conflict of interest.He went and got a $200 million loan for his company from a state -backed Chinese bank while he was the economic advisor to Justin Trudeau.

That loan is still owed, my understanding is, by Brookfield, which the Prime Minister continues to be invested in.He allowed Brookfield to be at the table for discussions.So Mr. Carney has got to be clear that he should represent Canada's interests, not his corporation's interests.And maybe one of the reasons why Canada is the only G7 country in recession right now is because he is miscalculating on trade just like everything else.He's been wrong on every economic question over the last decade, and Canadians are paying the price.He was wrong on carbon taxes, wrong on keeping half our oil on the ground, wrong to oppose a pipeline to the Pacific, wrong to support money printing inflation, and now he's wrong in his trade priorities.

We trade We sell 20 times more to the United States than we sell to China.That's just a mathematical fact.And Mark Carney's Brookfield interests in China won't say it won't change that.We need a prime minister who's fighting for our workers in this country.We should have the best economy in the G7, not the worst.

I'm Jasmine Lane.Thank you so much for watching.Be sure to like this video.Comment your thoughts down below.I'm really curious what you think about all of this and what direction you anticipate the liberals will take seeing as how Mark Carney is flippy floppy like nobody's business lately.I honestly don't know.

I really don't have a prediction for myself.Subscribe, like, share, all that fun stuff, and I will talk to you very soon.