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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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Great Reset

Canadian MP warns new WHO pandemic treaty may enshrine COVID-era freedom restrictions

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MP Colin Carrie

From LifeSiteNews

By Emily Mangiaracina

Colin Carrie recounted the freedom-throttling measures the Canadian government took during the COVID outbreak, warning that the WHO’s Pandemic Agreement may help make such measures permanent.

Canadian Member of Parliament (MP) Colin Carrie warned this week that proposed World Health Organization (WHO) agreements with a passing deadline of late May could “institutionalize” freedom-throttling COVID “pandemic mistakes.”

Carrie recounted the liberty-crushing COVID-era events that took place in Canada as well as around the world during the first-ever Sovereignty Summit held at the U.S. Capitol on Thursday, an event protesting the WHO’s pending threat to the sovereignty of its member nations, attended virtually by political leaders from around the world.

“Since COVID-19’s lockdowns and mandates, Canadians have seen our sovereignty, our charter rights and our civil liberties tested,” said Carrie, going on to point out that Canadian Prime Minister Justin Trudeau has  admitted that he admires the “basic dictatorship” of China.

It was under such a leader as Trudeau that “freedom of speech, freedom of movement, freedom of consent and freedom of medical treatment were all enthusiastically challenged” by the government through “COVID dictates centrally controlled and communicated by the WHO,” Carrie noted.

Trudeau, moreover, “intentionally created an identifiable minority group — anti-vaxxers — and gleefully used all the power of the Canadian government to marginalize, dehumanize and keep over 6 million Canadians from fully participating in Canadian society,” Carrie declared.

He recalled how the Emergencies Act was “used to freeze bank accounts” while “businesses were shattered, seniors and loved ones died alone,” “children’s education was compromised and churches were closed,” affirming that Canadians do not want to relive this scenario during another real or supposed health emergency according to the dictates of the WHO.

Carrie went on to question why the WHO is saying the new Pandemic Agreement is “non-binding” when, according to the MP, the term “non-binding” was removed from the definitions of the treaty.

“Why would any country sign on to a new treaty when we haven’t conducted a serious evaluation of the last pandemic policy response? Will this treaty institutionalize WHO’s COVID pandemic mistakes?”

In a March 20 press release, the WHO called for an “urgent agreement from international negotiators on a Pandemic Accord … to bolster the world’s collective preparedness and response to future pandemics.”

A growing number of public figures as well as U.S. states and elected officials have raised the alarm about the so-called Pandemic Agreement in recent months.

In a letter dated May 22, almost half the U.S. governors, all of them Republicans, signed a letter to President Joe Biden declaring that they will resist any efforts of the WHO to control public policy in America through its proposed “Pandemic Agreement” and amended International Health Regulations (IHRs).

Earlier this month, Sen. Ron Johnson of Wisconsin also rallied every Republican in the U.S. Senate to sign an open letter imploring the Biden administration to reject the pending agreements being considered at the World Health Assembly (WHA) in late May.

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Media

Trudeau’s Online News Act has crushed hundreds of local Canadian news outlets: study

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From LifeSiteNews

By Clare Marie Merkowsky

Trudeau’s Online News Act, framed as a way to support local media, has hurt small media outlets while giving massive payouts to legacy media, a study has found.

According to a new study, Prime Minister Justin Trudeau’s Online News Act has successfully crushed local media outlets while mainstream media has remained relatively unaffected.  

According to an April study from the Media Ecosystem Observatory, Trudeau’s Online News Act, also known as Bill C-18, has caused a 84 percent drop in engagement for local Canadian outlets, as Big Tech company Meta – the parent company of Facebook and Instagram – has refused to publish links to Canadian news outlets on their platforms.  

“We lost 70 per cent of our audience when that happened,” Iain Burns, the managing editor of Now Media Group, which manages news posts for outlets serving smaller communities, revealed. He further explained that he experienced a 50 percent loss in revenue following the move. 

“We’re not the only ones. Many, many outlets are in this situation,” Burns added.

The Online News Act, passed by the Senate in June 2023, mandates that Big Tech companies pay to publish Canadian content on their platforms. While the legislation promised to support local media, it has seemingly accomplished the opposite.  

While Meta has blocked all news on its platforms, devastating small publishers, Google agreed to pay Canadian legacy media outlets $100 million to publish their content online. 

The study, a collaboration between the University of Toronto and McGill University, examined the 987 Facebook pages of Canadian news outlets, 183 personal pages of politicians, commentators and advocacy groups, and 589 political and local community groups.  

“The ban undoubtedly had a major impact on Canadian news,” the study found.  

“Local news outlets have been particularly affected by the ban: while large, national news outlets were less reliant on Facebook for visibility and able to recoup some of their Facebook engagement regardless, hundreds of local news outlets have left the platform entirely, effectively gutting the visibility of local news content,” it explained.   

However, LifeSiteNews has been relatively unaffected by the ban as viewership on its official Facebook page has remained relatively the same, similar to its Instagram account since most views already came from the United States.  

Similarly unaffected was Meta: “We find little evidence that Facebook usage has been impacted by the ban.”  

“After the ban took effect, the collapse of Canadian news content production and engagement on Facebook did not appear to substantially affect users themselves,” the study said.  

While local media outlets’ viewership has declined thanks to Trudeau’s new legislation, larger media outlets have thrived due to increased payouts from the Trudeau government.  

Legacy media journalists are projected to have roughly half of their salaries paid by the Liberal government after the $100 million Google agreement and the subsidies outlined in the Fall Economic Statement.  

Mainstream Canadian media had already received massive federal payouts, but they have nearly doubled after Trudeau announced increased subsidies for legacy media outlets ahead of the 2025 election. The subsidies are expected to cost taxpayers $129 million over the next five years.   

However, just as government payouts increase, Canadians’ trust in mainstream media has decreased. Recent polling found that only one-third of Canadians consider mainstream media trustworthy and balanced.   

Similarly, a recent study by Canada’s Public Health Agency revealed that less than a third of Canadians displayed “high trust” in the federal government, with “large media organizations” as well as celebrities getting even lower scores.  

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