Discussion about this post

User's avatar
TomA's avatar

What happens in Canada will take a back seat to events in Europe coming this year. The Bank of England (and other EU central banks) were relying on the rape of Ukraine to remain solvent. They needed that mineral wealth to backstop their lack of collateral; the latter of which is necessary to support sovereign bond sales and exchange foreign currencies. A financial crisis is coming to the European Continent and Carney's job is to try to substitute Canadian assets for Ukrainian. As a consequence, things could get dicey up north if Alberta actually asserts its independence. Trump may take a page from Putin's playbook. Four oblasts in Ukraine voted to join Russia and were then absorbed. If that happens here with Alberta and Saskatchewan, Quebec will also secede and Canada will fracture completely. Can US fracturing be far behind? Time will tell.

Expand full comment
Russtovich's avatar

Canadian here, living in British Columbia (Vancouver Island). Here's my 2 cents:

"Who knew the former governor of the BoE would play Pied Piper to Canexit?"

Don't forget that Carney was the governor of the Bank of Canada before he was the governor of the Bank of England... and he screwed up both. ;)

"I'm half convinced the Trump admin preferred Carney, everything will stay unstable, and exploitable."

I concur. Trump played the Eastern Canadians like a fiddle. :)

As for certain provinces separating, I can definitely see that happening. Eastern Canada (Ontario and Quebec, the two biggest provinces population-wise) have always looked down on the 'redneck rubes' of Western Canada (Alberta and Saskatchewan mainly, not so much for our west-coast liberals in BC (British Columbia). In Canada we have what is called equalization payments by the Federal Government.

Basically, the Feds take money from one provinces making too much money and gives it to those that don't make as much.

https://en.wikipedia.org/wiki/Equalization_payments_in_Canada#Equalization_formula

Scroll down a bit and take at look at Table A. Then see which provinces get zero; all the ones with oil and minerals.

This has been going on forever. See the link below for a cartoon from 1915:

https://www.smalldeadanimals.com/wordpress/wp-content/uploads/2025/04/The-Canadian-Milch-Cow-600x403.jpg

BC is slowly going conservative. My federal riding voted Conservative this past Monday for the first time in forever. I only hope that when Alberta decides to go its own way, BC (or at least northern BC and Vancouver Island) go along as well.

Cheers

Expand full comment
18 more comments...

No posts