Carney Crisis 🎪

Where news meets rational thinking

Good morning, It’s Friday, February 14th. In today’s news, Mark Carney wants emergency powers to fix the crisis he helped create, NDP and Conservatives told to expect election call as early as March 10th, Trump’s latest Canadian targets include digital taxes and the auto industry, RFK Jr. confirmed by Senate as HHS Secretary, and much more.

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Mark Carney Wants Emergency Powers to Fix the Crisis He Helped Create

Mark Carney, the former central banker and financial elite who has been shaping Canada’s economic policy under Justin Trudeau, now says he needs emergency powers to address the country’s economic crisis. Speaking at a campaign event, Carney, the presumed next leader of the Liberal Party, declared that his government would use “all of the powers of the federal government, including emergency powers” to respond to an economic war with the United States and revive Canada’s struggling economy. But let’s be clear: Carney helped create this crisis in the first place.

Since becoming Trudeau’s top economic adviser in 2020, Carney has been instrumental in shaping the reckless fiscal policies that have driven Canada’s economy into the ground. His influence led to record-breaking deficit spending, skyrocketing government debt, and a misguided push for ESG-driven economic policies that crippled industry and increased costs for ordinary Canadians. The consequences have been catastrophic. Interest payments on federal debt have soared to $52.9 billion annually—more than the total health transfers to provinces. The Trudeau government, under Carney’s guidance, has racked up so much debt that servicing it now costs more than funding healthcare. And now, rather than acknowledging his role in creating this disaster, Carney is demanding even more power to fix it.

This is the same Mark Carney who defended Trudeau’s use of the Emergencies Act in 2022 to freeze bank accounts and crush peaceful dissent during the Freedom Convoy. Now, he’s floating the idea of using emergency powers again—this time under the vague justification of an economic crisis. Carney isn’t a solution—he’s the problem. And if given more power, he’ll only make it worse.

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NDP and Conservatives Told to Expect Election Call as Early as March 10th

Mark Carney, the frontrunner in the Liberal leadership race, has signaled he may call a snap election immediately after the party selects its new leader on March 9th, rather than waiting to return to Parliament. While he claims the decision will depend on circumstances in mid-March, many see this as a strategic move to capitalize on recent polling that suggests a slight Liberal rebound. The NDP and Conservatives are already bracing for an early election, with the NDP calling for Parliament’s immediate return to address the looming threat of US tariffs under President Trump.

Carney has presented himself as the economic leader Canada needs in uncertain times, pledging to balance the budget within three years, cut middle-class taxes, and reduce spending (please see the graph above one more time haha). However, critics note he has provided little detail on how he would achieve these goals.

The Conservatives are already hammering him for vague language, accusing him of trying to mislead Canadians by using phrases like “spending budget” rather than committing to true fiscal balance. They also warn that his recent comments about cutting “transfers to individuals and provinces” could mean slashing key programs like childcare benefits and healthcare.

While Carney presents himself as a steady hand in uncertain times, his proposals seem more like a reckless gamble. Between vague economic promises, potential cuts to social programs, and now a willingness to wield emergency powers for political gain, his leadership could usher in a dangerous new era of government overreach—and that’s saying a lot after the last ten years.

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Trump’s Latest Canadian Targets: Digital Taxes and the Auto Industry

President Donald Trump is once again putting Canada in his crosshairs, this time singling out Trudeau’s digital services tax and threatening massive tariffs on Canada’s auto sector. With a new executive order authorizing reciprocal tariffs, the White House has named Canada’s three percent digital tax as an “unfair” policy that specifically targets American companies.

The tax, implemented over the summer, forces large tech corporations to pay on revenue earned from engaging Canadian users. While Ottawa insists the tax ensures tech giants contribute their fair share, the policy has drawn the ire of U.S. business groups, with the Business Council of Canada warning it would invite retaliation. Now, with Trump’s latest order, retaliation is exactly what’s coming.

In addition to targeting digital taxes, Trump has threatened up to a 100% tariff on Canada’s auto sector, putting the long-standing North American auto supply chain in jeopardy. “Canada has a very big car industry. They stole it from us,” Trump declared in a recent Fox News interview. “If we don’t make a deal, we’re going to put a big tariff on cars. Could be 50 or 100 percent.”

Canada and the U.S. have shared an integrated auto sector since the 1965 Auto Pact, later replaced by NAFTA and now the USMCA (or CUSMA). The industry depends on cross-border supply chains, with parts often crossing multiple times during production. Yet, as Trump settles into office, economic nationalism is back in full force.

Trudeau’s government has vowed to negotiate, but history suggests Trump will not back down easily. With a 2026 renegotiation of CUSMA looming, Canada is facing a storm of economic pressure that could reshape the trade relationship entirely.

'We Never Agreed That Canada Would Not Be the 51st State'

After a meeting with US officials at the White House, BC Premier David Eby made it clear that Canada would not become the 51st state. While Eby and other premiers stressed their opposition to the idea, Trump’s deputy chief of staff, James Blair, responded bluntly: “We never agreed that Canada would not be the 51st state.”

The meeting, held as part of ongoing talks about Trump’s proposed tariffs on Canadian exports, included discussions on trade, border security, and fentanyl. While both sides described the talks as “constructive,” the tension over Trump's tariff threats and Canada’s economic future remains high.

With looming tariffs of up to 25% on Canadian goods, Eby urged the federal government to prepare to retaliate if necessary, stating, “We didn’t ask for this fight, but we shouldn’t shy away from it.” More

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RFK Jr. Confirmed by Senate as HHS Secretary

Robert F. Kennedy Jr. was confirmed as Secretary of Health and Human Services (HHS) in a 52–48 Senate vote and was sworn in at the Oval Office later that day. Despite facing strong opposition from Democrats and concerns from some Republicans, Kennedy secured enough support to take charge of the department overseeing the CDC, FDA, and NIH.

Under his “Make America Healthy Again” (MAHA) initiative, Kennedy aims to combat chronic disease, reduce corporate influence in federal health agencies, and eliminate harmful chemicals from the food supply. He has pledged to overhaul the NIH, push for greater vaccine safety transparency, and reassess pharmaceutical advertising regulations.

Trump has assured Kennedy full authority to investigate the potential links between vaccines and autism, a stance that has fueled controversy but aligns with his broader mission to challenge corporate dominance in public health. More

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At least 28 Hurt as Asylum Seeker Plows Into Demonstration in Germany - The suspect, a 24-year-old Afghan asylum seeker, was arrested. Bavaria's state interior minister said he was known to authorities. More

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Trump Says He Will Pursue Military Spending Cuts, Denuclearization With Russia, China - Trump tried to reach a nuclear arms control deal with Russia and China in his first presidential term and remains interested in mutual arms reductions. More

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European Powers Push for Role in Ukraine Peace Deal Negotiations -The continent’s ministers have responded after being blindsided by the announcement from Washington that the two heads of state were set to meet soon. More

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Trudeau Congratulates Syrian Interim Leader Ahmed al-Sharaa Despite Being Listed as a Terrorist - More

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China Tops List of Countries Trying to Silence Exiled Dissidents Over the Past Decade - More

76 Percent of Canadians Fear Insufficient Retirement Savings

A new BMO survey reveals that 76% of Canadians fear they won’t have enough money for retirement due to rising inflation. On average, respondents estimate they’ll need $1.54 million to retire comfortably, but 63% say inflation has hurt their ability to save. Many are cutting expenses, reducing retirement contributions, or planning to work longer. Despite concerns, RRSP contributions have risen 14% year-over-year. A separate CPP poll found 67% of Canadians fear running out of money in retirement, with anxiety about financial decisions growing. More

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Japanese Automakers Honda, Nissan and Mitsubishi End Talks on Merger, $60 Billion Plans Dropped - More

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Reddit Shares Plunge After Google Algorithm Change Contributes to Miss in User Numbers - More

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Igloo Recalls More Than 1 Million Coolers After Handle Hazard Causes Fingertip Amputations - More

Astronomers Discover Nearby Alien World That May Sustain Life

Astronomers have confirmed the existence of HD 20794 d, a possible habitable exoplanet just 20 light-years away. This super-Earth, with at least 5.82 times Earth's mass, orbits a Sun-like star within the habitable zone, where liquid water could exist. However, its elliptical orbit means it only spends part of its journey in this region, raising questions about its ability to support life. Scientists are eager for further research to determine if it’s a rocky world or a gaseous mini-Neptune. Its close proximity offers hope for future space missions to capture direct images and unlock its secrets. More

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43% of Patients at Death’s Door are Cancer-free After Trial Treatment; Canadian-based Program to be Expanded - More

New Season, New Hope: After Last-Place Finish, Blue Jays Look to Rebound in 2025

Toronto Blue Jays manager John Schneider believes the team is stronger on paper this year, with players motivated to bounce back from last season’s disappointing 74-88 finish. Speaking on the first official day of spring training, Schneider emphasized the team’s determination.

Notable offseason acquisitions include slugger Anthony Santander, ace Max Scherzer, and reliever Jeff Hoffman. Meanwhile, contract extension talks with Vladimir Guerrero Jr. remain a key storyline, with GM Ross Atkins expected to address the issue later today. More

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Chiefs Give Travis Kelce March 14 Deadline to Decide Playing Future - Kelce is due a $12.5 million roster bonus on March 15. More

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Red Sox Sign Free Agent Third Baseman Bregman to Three-year, $120M Deal - More

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Aaron Rodgers Won't Return to Jets in 2025 as Team Decides to 'Move in a Different Direction' - More

Humpback Whale Swallows and Then Spits Out Kayaker off Chile Coast

Valentine’s Day began as St. Valentine’s Day a liturgical celebration of one or more early Christian saints named Valentinus. February 14th first became associated with romantic love during the High Middle Ages as the tradition of courtly love was then flourishing. During 18th century England, this day evolved into an occasion in which lovers expressed their love for each other by presenting flowers, offering confectionery, and sending Valentine cards.

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