This sounds really good, Fred ,like extremely good. My only concern and I think it’s legitimate is that we have been reading so much about the people with the private capital often referred to as “Epstein class“ and many of those people are the same ones who support Trump‘s whack a doodle initiatives and are interested in autocracy building.
How do we invite the capital in without opening Canada’s financial underbelly to the jaws of the oligarchy?
It seems to me that there are going to have to be tough decisions in terms of ethics, and full sovereign control of how that money gets spent in Canada. For example, not contributing to write wing conservative, hate mongering, etc.
I’ve been reading elsewhere that Canada is a very disturbing concept to the people who support Putin and Victor Orban and other dictators because we are a functioning democracy and we are doing well right now. That means we’re also at target.
So not to be a wet blanket, but I think that proactive caution is warranted. I’d be interested in your view.
That fits my gut reaction, but when you see how American companies have operated within Canada and the kind of influence they have had over the decades I think this is a legitimate concern. I entirely hope you are correct. And the move to attract investment is definitely a step forward.
And Norway should be both an encouragement and a warning. At the start of the oil age in the North Sea we invited foreign capital, but with strong guard rails ready. It worked. Also, our sovereign wealth fund was started on time, all parties agreed.
The last six years are a warning. A group of central political broilers from what were the two dominant parties have filled admin positions with "their" people. They are siphoning off wealth to themselves. They are weakening the guard rails. They are imposing sudden changes in taxation scaring off foreign capital. They are securing cooperation of "friendly" billionaires through wasteful subsidies, the rest are escaping. They are purposefully weakening the NOK through selling off in unnecessary timing and volumes. That empowerishes ordinary leople and small/medium businesses. Then interest is hiked although the key factors to inflation is imported through energy prices and weakened NOK.
Public spending is balooning but mainly in bureaucracy and subsidising of areas where we have no strengths.
What do you think about Canada aggressively pursuing a partnership with Ukraine on developing drone technology? It seems we have an opportunity here for new generation military buildout that will cost less but deliver more security and start to decouple ourselves from US industrial- military clutches. But the opportunity won't stay open for long.
Whatever happens, these investments must stay in Canadian hands, I’m tired of us giving our resources away, therefore the control and the profits. We also need to have laws regarding the processing of the resources in Canada, no raw resources can be exported.
One of the next big ones will be Ontarios Ring of Fire. It’s gonna take a lot of infrastructure to get that up and going, but all of it must be owned by Canadians, not foreign corporations or governments.
True. But that’s what governments are for, they can invest in the projects and as we own them they can recoup their investment. I’m confident under Carney stuff like this can be done properly and not just flittered away as we’re used to.
This sounds really good, Fred ,like extremely good. My only concern and I think it’s legitimate is that we have been reading so much about the people with the private capital often referred to as “Epstein class“ and many of those people are the same ones who support Trump‘s whack a doodle initiatives and are interested in autocracy building.
How do we invite the capital in without opening Canada’s financial underbelly to the jaws of the oligarchy?
It seems to me that there are going to have to be tough decisions in terms of ethics, and full sovereign control of how that money gets spent in Canada. For example, not contributing to write wing conservative, hate mongering, etc.
I’ve been reading elsewhere that Canada is a very disturbing concept to the people who support Putin and Victor Orban and other dictators because we are a functioning democracy and we are doing well right now. That means we’re also at target.
So not to be a wet blanket, but I think that proactive caution is warranted. I’d be interested in your view.
You’re not wrong Carrick... capital isn’t neutral.
It always comes with interests attached.
The goal isn’t to keep money out… it’s to set the rules so it can’t buy the house after it walks in.
Canada’s edge has always been this...
strong institutions, transparent regulation, and the ability to say “yes... but on our terms.”
If we get lazy or desperate, that’s when influence creeps in.
If we stay disciplined, we take the investment without handing over control.
This isn’t about trusting investors.
It’s about trusting our guardrails.
That fits my gut reaction, but when you see how American companies have operated within Canada and the kind of influence they have had over the decades I think this is a legitimate concern. I entirely hope you are correct. And the move to attract investment is definitely a step forward.
Well put indeed.
And Norway should be both an encouragement and a warning. At the start of the oil age in the North Sea we invited foreign capital, but with strong guard rails ready. It worked. Also, our sovereign wealth fund was started on time, all parties agreed.
The last six years are a warning. A group of central political broilers from what were the two dominant parties have filled admin positions with "their" people. They are siphoning off wealth to themselves. They are weakening the guard rails. They are imposing sudden changes in taxation scaring off foreign capital. They are securing cooperation of "friendly" billionaires through wasteful subsidies, the rest are escaping. They are purposefully weakening the NOK through selling off in unnecessary timing and volumes. That empowerishes ordinary leople and small/medium businesses. Then interest is hiked although the key factors to inflation is imported through energy prices and weakened NOK.
Public spending is balooning but mainly in bureaucracy and subsidising of areas where we have no strengths.
Appreciate you laying that out peter... that’s not theory, that’s lived experience.
It reinforces the point...
attracting capital is step one…
protecting the system from drift is the long game.
Excellent Fred
Appreciate it, Hans... now we’ll see if Canada follows through or lets the opportunity slip.
I trust the pilot. Not about the passengers.
Was that not your excellent line?
Such an exciting time for Canada!
It is exciting Heather… but now comes the part where we either execute or waste the opportunity.
Thanks for this awesome update Fred, it is encouraging to say the LEAST!!! :) A'Ho!
Thanks Patsy... feels like Canada finally has a real shot here if we don’t get in our own way.
"Get into our own way" haha. I'm quite sure it happens daily!
What do you think about Canada aggressively pursuing a partnership with Ukraine on developing drone technology? It seems we have an opportunity here for new generation military buildout that will cost less but deliver more security and start to decouple ourselves from US industrial- military clutches. But the opportunity won't stay open for long.
There’s something there for sure Maria.
Ukraine has basically turned into a real-time lab for next-gen drone warfare...
fast, cheap, adaptable.
The question isn’t should we look at it…
It’s can Canada move fast enough to matter?
Because if we don’t, someone else will lock in those partnerships first.
Whatever happens, these investments must stay in Canadian hands, I’m tired of us giving our resources away, therefore the control and the profits. We also need to have laws regarding the processing of the resources in Canada, no raw resources can be exported.
One of the next big ones will be Ontarios Ring of Fire. It’s gonna take a lot of infrastructure to get that up and going, but all of it must be owned by Canadians, not foreign corporations or governments.
Ownership matters Richard... but without capital, nothing gets built.
The win is keeping control and getting it funded.
True. But that’s what governments are for, they can invest in the projects and as we own them they can recoup their investment. I’m confident under Carney stuff like this can be done properly and not just flittered away as we’re used to.
Great review Fred
Appreciate it, John... feels like a big opportunity if Canada plays this right.
You sound level headed and someone i would love to know in person.
That’s kind of you to say, Shirley...
I appreciate that more than you know.