For decades, Canada was perfectly capable of building things here... and somehow kept sending the work somewhere else. That thinking is starting to change.
Trump breaking the status quo was the wake up call Canada needed. The US is going to spend years sorting out and paying for the messes he's made. Canada seems poised to become a world leader.
PM Carney is the single best “change agent” we have had in my lifetime! This, and everything he’s done in the last 20 months is the foundation of my belief! And he’s a really good, genuine man, that is the foundation for everything he does so well. Thank you Fred for providing yet more evidence that Mark Carney has become the leader of the free world. And he’s has rightfully earned that title - something, I might add, Poilievre has absolutely NO conception of whatsoever. Just my opinion. 👏👏👏🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦
Patricia, I think what you’re responding to is the change in direction more than any single announcement.
Carney has pushed Canada to think differently about...
trade,
industry,
energy,
defence
and our dependence on the U.S.
and that shift is real.
I’m probably a little more cautious than you on “leader of the free world.
” That’s a mighty big crown to hand anybody. 😂
But I will say this...
I haven’t seen a Canadian prime minister in my lifetime arrive at a moment quite like this and move this aggressively to redefine where the country is headed.
And yes, that’s a big reason I keep writing about what’s actually being built instead of just repeating the daily political screaming match.
Thank you Fred! I think why I so wholeheartedly see him as the leader of the free world is because of this huge paradigm shift he’s brought. It is just earth shatteringly change. And other tha Zelenskyy, there really is not another leader of any country who can even meet these two at that level. But I do appreciate your words of caution, as I do all your feedback! Cheers my friend!
Patricia, and THAT explanation I understand completely.
I think “paradigm shift” gets right to what you’re seeing.
Whether I’m ready to hand Carney the “leader of the free world” crown or not 😂, I absolutely agree that he’s asking Canada to think about itself differently...
our independence, our alliances, what we build here, where we trade and what kind of country we want to become.
And maybe that’s why this feels so much bigger than normal politics.
We can disagree a little on how high to build the pedestal and still be standing in pretty much the same place looking at what’s happening. 😂
The only thing that would be even more fabulous to me would be a renewal of the capacity to build in Atlantic Canada. Amherst NS used to be one of the leading builders of railcars in Canada. In two years (1893-1895) the firm of Rhodes Curry built 1200 freight cars and 15 passenger cars for the Intercolonial Railway.
Things like that really add to local and national pride as well. My grandmother and mother both told me about them, though they were long gone by the time I arrived on the planet. The passenger cars were, I m told, things of beauty and elegance. Wonder if any survived.
Also I m having some interesting conversations with a few die hard locals who are still ferocious conservatives who think that “that Carney” is a self serving monster like the rest of them politicians but they falter a bit when I ask them what they think of the big money investments coming our way for a change. It really feels like the 50s and 60s to me again. I just leave the question on the table but hope is a lovely thing to see returned. We ve been waiting for this it seems.
Thanks so much, Fred. I havent had time to get into it yet but just searched and found there s a site and this quote:The Nova Scotia Railway Heritage Society’s quest to restore the historic railway car “Alexandra” – once the traveling home of a Canadian Governor General and of Prime Ministers – continues. The car was built in 1905 by Rhodes Curry at Amherst, Nova Scotia. I ll leave to you find the link; I use the duck search engine.
I voted against Mulroney's push for free trade 35 years ago. Now, we have to fix three a half decades of learned helplessness fostered by the US corporate cabal running that country.
It's going to be tough. We are in for some lean years, and we all have to do our part to help Canadian households that are caught in the transition.
But we are a tough, determined kind of folks. And if any country on earth can manage this enormous economic pivot, we can.
We just have to have faith in ourselves, and each other.
The next 10 years in this country are going to be the most exciting decade since Confederation.
Thank you, Donald Trump, for galvanizing our country in such an unprecedented way. The Major Projects Office is embarking on a series of long-overdue ventures. Kudos to Mark Carney for seizing this opportunity. And Fred, thanks for such an uplifting article!
I manage the small RRIFs and TFSAs for my wife and me. If one doesn't look "under the hood" at the various investment options, the purchase of various Canadian ETFs, for example, may unintentionally involve holding US equities.
In the spirit of "elbows up", investing in the US economy is a non-starter for me. Besides, because of Trump's chaotic and unpredictable so-called policies, the US economy is sputtering while the Canadian markets are performing better. Furthermore, Trump's blatant corruption and manipulation of stock markets through his Truth Social postings are reprehensible. Well-heeled investors can even pay for early access to his posts that move the market in seconds. Truly disgusting!
Presently, it's a win-win situation for small retail investors in Canada. Showing confidence in Canada by investing in Canadian companies and ETFs that hold these Canadian enterprises is, in my view, a financially prudent and patriotic objective at this critical juncture in our nation's history.
I think part of the delay problem is lack of track capacity. I took the Ocean from Moncton to Ottawa this past spring, and we had a couple of delays, because it appeared the freight traffic was always prioritized over the Via service. Maybe we should be looking at doubling our coast to coast track lines to handle the projected industrial growth we're trying to build.
Trump breaking the status quo was the wake up call Canada needed. The US is going to spend years sorting out and paying for the messes he's made. Canada seems poised to become a world leader.
Eric, I think “wake-up call” is exactly right.
For decades, Canada got comfortable with the status quo because it mostly worked.
Trump showed us just how vulnerable that comfort had made us.
What I find encouraging now isn’t that Canada suddenly has everything figured out.
We sure as hell don’t.
It’s that we’re finally asking different questions...
What can we build here?
What can we process here?
Who else can we trade with?
And how do we make sure no single country ever has this much leverage over us again?
Whether Canada becomes a world leader remains to be seen.
But for the first time in a long time, I think we’re starting to behave like a country that intends to find out.
PM Carney is the single best “change agent” we have had in my lifetime! This, and everything he’s done in the last 20 months is the foundation of my belief! And he’s a really good, genuine man, that is the foundation for everything he does so well. Thank you Fred for providing yet more evidence that Mark Carney has become the leader of the free world. And he’s has rightfully earned that title - something, I might add, Poilievre has absolutely NO conception of whatsoever. Just my opinion. 👏👏👏🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦
CANADA 🇨🇦 strong. It just keeps getting better and better.
Patricia, I think what you’re responding to is the change in direction more than any single announcement.
Carney has pushed Canada to think differently about...
trade,
industry,
energy,
defence
and our dependence on the U.S.
and that shift is real.
I’m probably a little more cautious than you on “leader of the free world.
” That’s a mighty big crown to hand anybody. 😂
But I will say this...
I haven’t seen a Canadian prime minister in my lifetime arrive at a moment quite like this and move this aggressively to redefine where the country is headed.
And yes, that’s a big reason I keep writing about what’s actually being built instead of just repeating the daily political screaming match.
Thanks, Patricia.
Thank you Fred! I think why I so wholeheartedly see him as the leader of the free world is because of this huge paradigm shift he’s brought. It is just earth shatteringly change. And other tha Zelenskyy, there really is not another leader of any country who can even meet these two at that level. But I do appreciate your words of caution, as I do all your feedback! Cheers my friend!
Patricia, and THAT explanation I understand completely.
I think “paradigm shift” gets right to what you’re seeing.
Whether I’m ready to hand Carney the “leader of the free world” crown or not 😂, I absolutely agree that he’s asking Canada to think about itself differently...
our independence, our alliances, what we build here, where we trade and what kind of country we want to become.
And maybe that’s why this feels so much bigger than normal politics.
We can disagree a little on how high to build the pedestal and still be standing in pretty much the same place looking at what’s happening. 😂
I appreciate these conversations too, Patricia.
Cheers, my friend. 🇨🇦❤️
Thank you SO much, Fred! Coming from you, that means so much! Big cheers back! 🫶
Frederick, that last question is the interesting one.
I think Carney’s global role will depend on whether he can turn what he’s saying into lasting relationships and results.
Canada isn’t going to replace the United States as the dominant Western power...
nor should we pretend it can.
But I do think there’s an opening for Canada to become something different...
a stable, reliable middle power that can work with Europe, Asia and the developing world without demanding everybody choose sides.
Carney seems to understand that the old world order is changing and Canada needs more friends, more markets and more options.
If he can actually build those relationships while strengthening Canada at home, *that* could be his legacy.
Not “leader of the free world.”
**Leader of a Canada that finally learned how to stand on its own feet.** I’d take that.
As I said, Fred, I will always appreciate your feedback and your words of caution! 🫶🇨🇦
Wonderful news, that is a long time coming
It sure is, Audrey.
That’s what struck me too.
We’ve had the workers, the skills and the resources all along.
Maybe the biggest change is that we’re finally asking why the hell we aren’t building more of what Canada needs right here in Canada.
Long overdue indeed.
Thanks, Audrey.
The only thing that would be even more fabulous to me would be a renewal of the capacity to build in Atlantic Canada. Amherst NS used to be one of the leading builders of railcars in Canada. In two years (1893-1895) the firm of Rhodes Curry built 1200 freight cars and 15 passenger cars for the Intercolonial Railway.
Bev, now THAT is the kind of Canadian history I love learning from these comments.
I had no idea Amherst once had that kind of railcar manufacturing capacity.
And your point is bigger than nostalgia.
If communities across Canada built these things once, the question shouldn’t just be, “Isn’t it a shame we don’t anymore?”
It should be...
**What would it take to build that capacity again?**
Thunder Bay is a start.
I’d love to see the same conversation happening in Atlantic Canada, Quebec, the Prairies and out West.
Not because everything has to be made everywhere...
but because a country that wants economic independence needs the ability to make a hell of a lot more of its own stuff.
Thanks for adding that piece of history, Bev.
I learned something.
Things like that really add to local and national pride as well. My grandmother and mother both told me about them, though they were long gone by the time I arrived on the planet. The passenger cars were, I m told, things of beauty and elegance. Wonder if any survived.
Also I m having some interesting conversations with a few die hard locals who are still ferocious conservatives who think that “that Carney” is a self serving monster like the rest of them politicians but they falter a bit when I ask them what they think of the big money investments coming our way for a change. It really feels like the 50s and 60s to me again. I just leave the question on the table but hope is a lovely thing to see returned. We ve been waiting for this it seems.
Bev, there’s a lot in this comment I love.
First, I’d love to know whether any of those old Amherst passenger cars survived too.
If they were as beautiful as your mother and grandmother remembered, I hope somebody had the good sense to preserve one.
But your conversations with those die-hard Conservatives may be the more interesting part.
You’re doing exactly what I think works best.
Don’t tell them they have to like Carney.
Don’t tell them they have to change parties.
Just put the question on the table...
**What do you think about what’s actually being built and invested in?**
Then leave it there.
People can dislike a politician and still recognize something good happening in their community or their country.
And Bev, your last line really got me...
**“Hope is a lovely thing to see returned.”**
Maybe that’s part of what I’ve been feeling too.
Not blind optimism.
Not pretending everything is wonderful.
Just the feeling that Canada might be entering a period where we build things again, attempt big things again and...
maybe most importantly... **believe in ourselves again.**
If that reminds you of the Canada of the 50s and 60s, I can understand why.
We’ve been waiting a long time for that feeling to come back.
Thanks so much, Fred. I havent had time to get into it yet but just searched and found there s a site and this quote:The Nova Scotia Railway Heritage Society’s quest to restore the historic railway car “Alexandra” – once the traveling home of a Canadian Governor General and of Prime Ministers – continues. The car was built in 1905 by Rhodes Curry at Amherst, Nova Scotia. I ll leave to you find the link; I use the duck search engine.
I voted against Mulroney's push for free trade 35 years ago. Now, we have to fix three a half decades of learned helplessness fostered by the US corporate cabal running that country.
It's going to be tough. We are in for some lean years, and we all have to do our part to help Canadian households that are caught in the transition.
But we are a tough, determined kind of folks. And if any country on earth can manage this enormous economic pivot, we can.
We just have to have faith in ourselves, and each other.
The next 10 years in this country are going to be the most exciting decade since Confederation.
I can't wait to see what we can do!
Northshore, I love this comment... especially because you didn’t skip over the hard part.
There WILL be costs to changing an economic relationship we spent 35 years building around the United States.
Some Canadians will feel those costs a hell of a lot more than others, and we can’t just wave a flag and tell them to suck it up.
We have to bring them along.
But your last point is where I land too.
**Have some faith in ourselves.**
Canada has the resources.
We have the workers.
We have the education, technology and ingenuity.
We have countries around the world that want to do business with us.
What we’ve been short of is the belief that we could actually do things differently.
Maybe that’s changing.
I’m 74.
I have no idea how much of the next ten years I’ll get to watch. 😂
But I’ll tell you something...
**I haven’t been this interested in where Canada is going in a very long time.**
Let’s see what the hell we can build.
Thank you, Donald Trump, for galvanizing our country in such an unprecedented way. The Major Projects Office is embarking on a series of long-overdue ventures. Kudos to Mark Carney for seizing this opportunity. And Fred, thanks for such an uplifting article!
I manage the small RRIFs and TFSAs for my wife and me. If one doesn't look "under the hood" at the various investment options, the purchase of various Canadian ETFs, for example, may unintentionally involve holding US equities.
In the spirit of "elbows up", investing in the US economy is a non-starter for me. Besides, because of Trump's chaotic and unpredictable so-called policies, the US economy is sputtering while the Canadian markets are performing better. Furthermore, Trump's blatant corruption and manipulation of stock markets through his Truth Social postings are reprehensible. Well-heeled investors can even pay for early access to his posts that move the market in seconds. Truly disgusting!
Presently, it's a win-win situation for small retail investors in Canada. Showing confidence in Canada by investing in Canadian companies and ETFs that hold these Canadian enterprises is, in my view, a financially prudent and patriotic objective at this critical juncture in our nation's history.
Jerry, you’ve raised something here I suspect a lot of Canadians haven’t thought about.
We can check the label on our tomatoes, avoid the American booze and look for Canadian-made products...
but how many of us have ever looked under the hood of our investments to see where our money is actually going?
I certainly haven’t thought about “Buy Canadian” quite that way.
And I like the distinction you’re making.
This isn’t about blindly buying something because there’s a maple leaf stuck on it.
You’re still looking for sound investments...
you’re simply asking whether Canadian companies can provide them before automatically sending your investment dollars south.
That’s an interesting extension of this whole conversation.
**If we want more Canadian companies building, processing and manufacturing here, somebody has to provide the capital too.**
Governments have a role.
Pension funds have a role.
Institutional investors have a role.
And apparently the guy sitting at his kitchen table managing two RRIFs and TFSAs has a role as well. 😂
Thanks, Jerry.
You gave this old geezer something else to think about.
I like that strategy of investing. It is helpful for people who are not investing savvy.
Thank you.
Carol-Ann, that’s what caught my attention too.
I’m certainly no investment expert, but Jerry made me realize there’s another question we can ask...
**Where is my money actually invested?**
You don’t have to become Warren Buffett overnight. 😂
Sometimes just knowing what you own and where the money goes is a pretty good place to start.
Jerry gave all of us something worth thinking about.
Great newsletter Fred! Thank you for always pointing out the positive things when the whole world is shaking! That's the time to dance :)
Patsy, I LOVE that...
**“when the whole world is shaking, that’s the time to dance.”** 😂❤️
There’s enough bad news flying at us every day without me adding another bucket of misery just for the hell of it.
When Canada screws up, I’ll say so.
But when we’re building something, creating jobs, finding new markets or simply doing something that makes me think...
**“Yep, we’re going to be okay,”** I’m going to write about that too.
So save me a spot on the dance floor, Patsy.
This old geezer may be a little slow, but I can still shuffle. 😂
Likewise, you to me!
I’m not convinced that will help with the service problems… every train I’ve been on lately has been delayed.
Subylus, fair point.
New equipment can improve reliability and comfort, but it won’t magically fix every service problem.
If trains are being delayed because of scheduling, track access, congestion or operating issues, shiny new rail cars won’t solve that by themselves.
So I see this as one piece of the puzzle...
replacing equipment that’s decades overdue for retirement and rebuilding some Canadian manufacturing capacity at the same time.
But yes, passengers are still going to judge VIA by one very simple standard...
**Does the damn train arrive when it’s supposed to?** 😂
I think part of the delay problem is lack of track capacity. I took the Ocean from Moncton to Ottawa this past spring, and we had a couple of delays, because it appeared the freight traffic was always prioritized over the Via service. Maybe we should be looking at doubling our coast to coast track lines to handle the projected industrial growth we're trying to build.
Northshore, now you’re getting to the bigger infrastructure question.
We can build 313 beautiful new passenger cars, but if they’re sitting behind freight trains waiting for track, we haven’t solved the whole problem. 😂
I don’t know whether doubling the tracks coast to coast is the right answer...
that’s way above this old geezer’s engineering pay grade...
but increasing rail capacity sure seems like a conversation Canada should be having.
Especially if we’re serious about building new mines, ports, energy projects and manufacturing.
All that new production has to move somehow.
Maybe the question shouldn’t just be...
**What does Canada need to build today?**
Maybe it should be...
**What infrastructure will Canada need for the country we’re trying to build 10 and 20 years from now?**
That’s a much bigger conversation.
Thanks, Northshore.
You’ve got me thinking again.