Canada's deficit to surge to $100 billion, National Bank's chief economist says

[CdnFox]

2 hours ago, eyeball said:

Even behind a paywall I know your story doesn't quote Carney using the word promise and $1 trillion dollars together in the same sentence.

Doesn't need to. If I say I will do this thing or this thing will happen then it's a commitment whether I use the word promise or not

And he did commit specifically if a deal is reached. "a trillion in the next five years if we get the agreement that we expect to get,”

So that is a promise.

I know that you think you can somehow lawyer your way out of this like some sort of child, like pretend he had his fingers crossed behind his back when he said it so it doesn't really count, but that's not how the adult world works.

Carney commented on the investment already made and stated that approximately this much more would be made if.... if they get a deal. Not just on its own or randomly. But specifically tied to the deal.

No matter how you want to slice it kiddo in the real world where adults live that is a commitment of a trillion dollars of our investment going to the united states at a time when very little is coming back across the border.

 

But what do you expect from a guy who moved his own company to the states already

 

[Gaétan]

Deficits don't matter to right-wing parties because it's money borrowed from the rich that other social classes will have to repay—not the rich themselves. 

Edited October 12, 2025 by Gaétan

[Queenmandy85]

I'm not sure why some of you are so excited by the deficit. First, it is nothing compared to the American deficit, but more importantly, in less than 3 years, it is going to be the American's problem. 

Nobody should be under any illusion that President Trump will permit any trade deal. His goal is to keep tightening the screws on Canada until we join the US. We all know that. What the Government is doing is trying and limit the damage. 

[Shady]

On 10/10/2025 at 1:49 PM, eyeball said:

What promise are you bozos going on about?

What on Earth has turned Canadian conservatives into such delicate little flakes?

Didn’t you watch their press conference?  Are you being purposely obtuse? 🤣

[CdnFox]

24 minutes ago, Queenmandy85 said:

I'm not sure why some of you are so excited by the deficit.

Then you're a fool. Do better. 

We are just about on the verge of a bond crisis.  We have a very little bit of road yet and then we'll be similar to greece.  We won't be able to borrow and we won't have the money to pay the bills and then it all comes to a crashing halt and we've got some hard choices to make 

Quote

First, it is nothing compared to the American deficit, but more importantly, in less than 3 years, it is going to be the American's problem. 

We are not an anchor currency, we can't get away with what they do. And they absolutely ARE running into problems with their deficit and debt

Quote

Nobody should be under any illusion that President Trump will permit any trade deal. His goal is to keep tightening the screws on Canada until we join the US. We all know that. What the Government is doing is trying and limit the damage. 

The gov't isn't doing ANYTHING to limit the damage. THey've given trump everything he wants without getting anything in return, they have completely screwed up their plan to remove interprovincial trade, their housing plan will just make Carney's friends richer and won't do a thing for housing and the major private players have already taken one look at his 'magic fairy land' project framework and said "You didn't cancel the tanker ban, you didn't get rid of the no pipeline law, you're not serious and we won't play"

Carney isn't delivering with trump and he's not delivering at home. 

Carney became prime minister on march 9, for a party that was already in power and had people in place to do things. It's not like he was a new gov't just taking over. 

now we're going into his 8th month and we still don't even have a budget, he's delivered nothing that he promised, and people are starting to look at their watches and tap the screens. 

 

[suds]

It could be that Carney was referring to many of Canada's pension plans. As of June 30, 2025, our CPP fund was worth $731.7 billion, 47% of which was invested in the U.S.  Then there's the Quebec pension plan with $473 billion in total holdings, public sector pension plans, things like the Ontario teacher's union pension plan, and it goes on and on and on with huge amounts of money invested in the U.S.  Consider that while the CPP invests 47% of its fund into the U.S., it sinks only 13% in Canada and 18% into Europe. It's likely those running these plans are doing terrific jobs and doing exactly what they were instructed to do, but with the situation today that's not the point.

[CdnFox]

2 minutes ago, suds said:

It could be that Carney was referring to many of Canada's pension plans. As of June 30, 2025, our CPP fund was worth $731.7 billion, 47% of which was invested in the U.S.  Then there's the Quebec pension plan with $473 billion in total holdings, public sector pension plans, things like the Ontario teacher's union pension plan, and it goes on and on and on with huge amounts of money invested in the U.S.  Consider that while the CPP invests 47% of its fund into the U.S., it sinks only 13% in Canada and 18% into Europe. It's likely those running these plans are doing terrific jobs and doing exactly what they were instructed to do, but with the situation today that's not the point.

Good point. On the other hand he moved his own business into the united states just recently so maybe he's talking about continuing oppressive tax regimes which will drive investment south of the border. Enbridge has said that they can't invest in Canada given the current regulatory environment and are moving forward with investments in the US

[Queenmandy85]

4 hours ago, CdnFox said:

Carney isn't delivering with trump and he's not delivering at home. 

That is the point you appear to be missing. Nobody can stop Trump from economically crushing us in order to annex us. He will annex us. Then our debt will be his problem.

We cannot stop the Americans from moving in. 80 hears of neglect for our defence by Liberal, Conservative and CPC (Socialist Credit) governments and cheapskate voters have made sure of that. But just because they come in, doesn't mean we have to make them feel welcome. 

[CdnFox]

1 hour ago, Queenmandy85 said:

That is the point you appear to be missing. Nobody can stop Trump from economically crushing us in order to annex us. He will annex us. Then our debt will be his problem.

 

Well, that's not quite true actually. The fact is Canada is still America's largest trading partner and if America starts to crash financially it has a massive impact on the united states.

And at that point we start looking at all kinds of interesting other options. Maybe china will let us build cars here under their brands if it means more money. Maybe we should be closer with Russia. Maybe we should be part of the European Union, rather than america.

And of course it forces us to start doing more things for ourselves and importing less from America. And already america is feeling a serious financial pitch from the fact that we're not buying their products or visiting their country. That can intensify.

If things get really bad it forces us to look at other markets, get serious about stripping inter provincial trade and mobility barriers, etc etc.  Just as we saw with the formation of the european union. 

So there's only so far he can push us, and we'll never be part of the us.  That just won't happen.  No matter how hard carney tries  

It WILL mean that we're going to have some difficult times and that means we have to cut the deficit down to next to nothing. Debt growth must be trailing GDP growth at the very least. And i mean by a fair amount, not just barely. 

Currently we're looking at the liberals delivering the largest deficit ever in our history by miles, and no plan to return to balance or even modest deficits.  And their "investments" won't do a positive thing for canada and will likely put inflationary pressure on the economy again. 

[eyeball]

7 hours ago, Shady said:

Didn’t you watch their press conference?  Are you being purposely obtuse?

Yes I did watch it. You're saying you heard Carney promise Trump that he would invest a trillion dollars in the US?

Bullshit you did.

[eyeball]

17 hours ago, CdnFox said:

"a trillion in the next five years if we get the agreement that we expect to get,”

So that is a promise.

Ah, I see. This explains why you people don't know what a lie is either.

 

[CdnFox]

7 hours ago, eyeball said:

Yes I did watch it. You're saying you heard Carney promise Trump that he would invest a trillion dollars in the US?

Bullshit you did.

Sorry but he did say canada would be investing that.  You're trying to play a cheezy little game because he didn't use the word promise but normal adults don't relate to your preschool debate tactics.    

6 hours ago, eyeball said:

Ah, I see. This explains why you people don't know what a lie is either.

 

Sure i do, i've got endless examples from you  

And i caught you in this one as well. 

Carney has said that canada will be investing a trillion more if they get a deal.  While the ferocity with which you defend your heroes is always impressive the bottom line is that's what he's stating will happen. 

[eyeball]

8 hours ago, CdnFox said:

Carney has said that canada will be investing a trillion more if they get a deal.

Put that way it sounds like he's promising there'll be no investing if we don't get a deal.

See how reading between the lines works?

[Shady]

26 minutes ago, eyeball said:

Put that way it sounds like he's promising there'll be no investing if we don't get a deal.

See how reading between the lines works?

He can’t control private sector investment which is already one sided towards the United States thanks to 10 years of Liberal/NDP rule.

[LinkSoul60]

5 minutes ago, Shady said:

He can’t control private sector investment which is already one sided towards the United States thanks to 10 years of Liberal/NDP rule.

Sure, either that or private money investing in equities that are in the world's largest economy.  What does that have to do with Liberals, NDP or Cons?  You are aware that CPP (your money) has 47% of their portfolio in the US right... and was even investing there back in the old days when we had a Conservative government. 

[Shady]

3 minutes ago, LinkSoul60 said:

Sure, either that or private money investing in equities that are in the world's largest economy.  What does that have to do with Liberals, NDP or Cons?  You are aware that CPP (your money) has 47% of their portfolio in the US right... and was even investing there back in the old days when we had a Conservative government. 

Investment didn’t used to be so one sided.  But as soon as you people took office which your anti economic growth policies, investment shifted dramatically.  It’s funny because you people think that you’re making Canada stronger and better.  It’s Orwellian. 🤣

[LinkSoul60]

7 minutes ago, Shady said:

Investment didn’t used to be so one sided.  But as soon as you people took office which your anti economic growth policies, investment shifted dramatically.  It’s funny because you people think that you’re making Canada stronger and better.  It’s Orwellian. 🤣

Investment has always been weighted to the US markets.  Maybe you should CPP a note saying you'll forfeit a percentage of your benefit as a show of support?...for what I'm not sure.  Poilievre had investments there until Trump started his rhetoric...  was that different?

[CdnFox]

1 hour ago, eyeball said:

Put that way it sounds like he's promising there'll be no investing if we don't get a deal.

 

No it doesn't. That's the kind of stupid thing you say when you know you're losing an argument. Setting aside your reductio ad absurdum, The last thing you want to do is give the impression that the united states is a better place to invest in your own country. You just don't say that over the next few years canada will be investing trillions into the united states.

He said it to appease trump and make it look like trump is winning and getting all of our money. Presumably heat was trying to butter trump up which is basically all he did during his entire trip and didn't actually get any kind of deal for it yet again.

But an experienced politician would realize that that sends a message to our own investors and our own businesses and people looking to invest in Canada and it says clearly the united states is better.

Carney is basically committing to the idea that the united states will be able to draw trillions of dollars out of Canada and that is not what you want your prime minister to commit to

Quote

See how reading between the lines works?

Kid you can't even read in front of the lines.  

You're not reading any lines. You're making up logical fallacies because once again you realize that you're arguing based on your feelings and not on facts and you're desperately trying to recover

Edited October 13, 2025 by CdnFox

[CdnFox]

I see little @ExFlyer  just woke up and the very first thing he has to do every morning is rush here to start putting down arrows on the posters he hates and fears the most   LOLOL     

Awww little guy, couldn't even wait for breakfast? You're so obsessed    Every morning like clockwork  

[eyeball]

8 minutes ago, CdnFox said:

He said it to appease trump

So it was a lie. 

[CdnFox]

2 minutes ago, eyeball said:

So it was a lie. 

Probably. But the problem is business people and investors won't see it that way. They'll see it as a prime minister who is focused on keeping trump happy even if it means losing Trillions in investment and it will make them cautious about Canada.

So whether it's true or not it still costs us tremendously. 

[Shady]

35 minutes ago, LinkSoul60 said:

Investment has always been weighted to the US markets.  Maybe you should CPP a note saying you'll forfeit a percentage of your benefit as a show of support?...for what I'm not sure.  Poilievre had investments there until Trump started his rhetoric...  was that different?

No it hasn’t been.  I even provided a graph for you people.

 

[CdnFox]

1 minute ago, Shady said:

No it hasn’t been.  I even provided a graph for you people.

 

True.  @LinkSoul60  is quite wrong. THis is the first time in our entire history where more investment money is leaving canada than arriving. 

He likes to make up fake facts he can't substantiate and just ignores the truth when you post it. In other words, he's a leftie   

[eyeball]

3 minutes ago, CdnFox said:

But the problem is business people and investors won't see it that way. 

Of course not, they don't give a shit one way or another about Trump, Carney, Canada or the US. All they care about is making money.

And with a crooked tax evader in charge of the US and a tax avoider in charge up here...

Viva Las Vegas!

[LinkSoul60]

14 minutes ago, Shady said:

No it hasn’t been.  I even provided a graph for you people.

 

 

17 minutes ago, Shady said:

No it hasn’t been.  I even provided a graph for you people.

 

All this shows is the wealth creation and more investment from the US to Canada and Canadian's investing more in equities in the world's largest economy.  

Your point is what?  If we had a conservative government less people would be investing in US equities... not likely.