Henry Hazlitt warned us in 1946:
“There is no more persistent and influential faith in the world today than the faith in government spending.”
Canada’s ballooning deficits and endless spending programs prove he was right.
#AustrianEconomics#GovernmentSpending#FiscalInsanity
“Building BC” sounds good on paper, but when it means taxpayer-funded bailouts for condo developers, $1B+ special loan guarantees, and endless subsidies while ignoring root causes, it’s not real building — it’s distortion and cronyism.
Genuine building happens when governments slash the massive DCCs, restrictive zoning, and red tape that have inflated costs and created gluts for years. Let markets respond to actual demand through competition and price signals instead of propping up failure with public money.
Canadians want results, not more intervention that makes housing less affordable long-term.
You’re right, it is incredibly shameful.
Government intervention is a major reason why these condos were unaffordable in the first place. Over regulation, DCCs, restrictive zoning, and red tape all played a part in distorting the market by artificially hiking prices on development.
As a result, malinvestment by the developers created condos that didn’t actually meet market needs. So the condos sat empty.
In a free market, the developers would have to sell at a loss and let the market clear. But we don’t have a free market.
We have a crony market where the government will step in and socialize losses and privatize gains for those who they play favourites with. It’s despicable.
Carney has demonstrated that he will pick corporate players and central banks over Canadian citizens. We should all be engaged by this decision and hold him to account.
I have written multiple posts on this issue if anyone wants to learn more, head to my main page.
$2.8 million in bonuses for executives on a ghost train with no route, no financing, no permits, and no start date.
This is what happens when government, not markets, allocates capital. No real price signals, no skin in the game, and zero accountability — just taxpayer money flowing to the connected few while real infrastructure projects languish.
Carney and the Liberals excel at this: rewarding failure and cronyism with other people’s money. Canadians deserve better than bureaucratic make-work and golden parachutes for non-existent projects. So tired of this.
🚨$3.2B Bailout 🚨
People who can't afford these condos..
Are now paying taxes to bail out the people who made them unaffordable in the first place.
The Canadian Dream. 🙃
Let me see if I understand this...
👨👩👧👦 A family that makes a bad investment loses money.
👨🌾 A farmer that makes a bad investment loses money.
🏪 A small business that makes a bad investment loses money.
🏢 A condo developer makes a bad investment... and taxpayers are expected to cover the loss?
Funny how "free markets" suddenly become government-funded emotional support programs whenever wealthy insiders are involved.
#CatherineSwift takes a wrecking ball to the logic behind #MarkCarney's $3.2 billion developer bailout.
🔗Link https://t.co/bMkivIkvrE
@WorkingCdns@gregorrobertson@PierrePoilievre
#cdnpoli #HousingCrisis #CorporateWelfare #Canada
Exactly, Pierre. 👌
Carney is doing exactly that. It’s textbook crony capitalism.
Governments first created this mess with massive DCCs, restrictive zoning, and red tape — inflating costs and encouraging overbuilding. Now they’re forcing taxpayers to socialize the losses and prop up prices rather than letting the market correct.
This isn’t helping first-time buyers or young Canadians. It’s cronyism that rewards failure and makes housing less affordable long-term.
Cut the regulations. Let prices adjust. Let competition work.
@distress_call@yonkojohn I didn’t claim you were. Your comment doesn’t actually add any value to the subject at hand, though. It entirely derails it. That’s all and take care.
@distress_call@yonkojohn Bringing Trump into a discussion about Carney’s condo bailout in BC is a deflection. The issue is government intervention distorting markets and using taxpayer money to socialize losses; regardless of party. Stick to the topic.
I've read both The Communist Manifesto and Das Kapital, and the trajectory Canada is on is uncanny.
@Reil76, you're right that Canada hasn't abolished private property outright or installed a pure command economy. But your narrow, textbook definition is a convenient dodge.
Marx and Engels never promised the revolution would arrive in one dramatic leap.
They described a patient, incremental process: progressive taxation to redistribute wealth, state centralization of credit and communications, restrictions on inheritance and property rights, public direction of key industries, and universal schooling to reshape the next generation.
Canada is checking nearly every box in practice
It’s a classic case of aligned incentives. We have a central banker in charge of the country who will ally himself with the central banks and developers at the expense of the Canadian taxpayer.
In Carney’s case: His first priority is to keep the financial system “stable” and mitigate system shocks. In his mind it will look better politically if he doesn’t have any “crashes” on record and it buys him favour from developers and donors who heavily borrowed while rates were low.
In the banks case: They have high exposure to the
to the real estate market. A large portion of their loan books consist of mortgages and developer financing. If prices correct sharply, many of those loans will go underwater and they will see a rise in defaults. Big hits to the banks.
This bailout protects the banks. The government purchase of these unsold units, at inflated prices, is effectively a backdoor bank rescue.
They rebrand it as “helping housing” to sell it to the masses. And while it will preserve “stability” in the short term - it perpetuates the problem and will have massive consequences long term.
It creates moral hazard - the banks and developers know they will be bailed out by government, and will operate as such - taking risking loans, overbuilding, etc.
It prevents necessary correction. Prices need to fall so supply meets real demand and young Canadians can afford a home.
It socializes the losses and privatizes the gains. Taxpayers lose.
It entrenches cronyism. Insiders and favourites benefit while smaller players and buyers suffer and are forced out.
It creates inflation and debt risks.
From an Austrian lens, this is a perfect example of the interventionist spiral. Interventions distort the market, malinvestment occurs, crisis arises, intervention is “needed” again - repeat.
If government actually wanted to help, they would admit their mistakes, abandon the bailout, and work towards cutting the various interventions that distort the market and create these problems in the first place. Let the market work.
Parents should decide what is best for their children, not politicians in Ottawa.
Protecting kids matters. But using children as an excuse to expand state control over the internet, social media, AI, and family life should concern every Canadian.
The government does not know your child better than you do.
Parents need tools, responsibility, and freedom. They do not need Ottawa stepping in as the national parent.
The podcast I created is now six years old.
In 2020, I had an idea to start a podcast. I was raised by a single mother with FASD, never met my father, and spent a lot of my life looking for role models, mentors, and voices I could learn from.
That was the beginning of The Bigger Than Me Podcast - a show focused on interviewing people who thought beyond themselves. With the support of my lovely wife Rebecca Pete, we started something unique.
Over time, I realized my passion was moving more and more toward ideas. Ideas shape people. Good ideas can build businesses, strengthen economies, lift people out of poverty, and improve the world around us. Bad ideas can fuel division, greed, inequality, economic decline, and real harm.
So in 2025, I renamed the show Nuanced with Aaron Pete. - a place to explore important ideas, ask difficult questions, and have serious conversations without losing our humanity.
It has now been nearly a year under the new name, and six years since I first started hosting this show. We have grown to nearly 13,000 subscribers on YouTube and now average around 5,000 views per episode. I have had the privilege of speaking with Premiers, Ministers, Members of Parliament, journalists, judges, lawyers, scientists, academics, and community leaders.
We cover some of the toughest issues facing Canada, but we try to do it with nuance, curiosity, and kindness. We assume good faith. We debate ideas without reducing people to insults. We try to make space for complexity in a time when so much of our public conversation rewards outrage and certainty.
We have come a long way since 2020, and I am deeply grateful to everyone who has supported.
Subscribe to Nuanced here:
https://t.co/Ycb8fQkX4h
@ClydeDoSomethin The infinite beauty of its landscape. The beautiful and bountiful bodies of fresh water. My friends, and sharing in the Canadian experience of collectively making fun of Quebec. That’s the only form of collectivism I accept 😂
Based and true, as usual, Keegan.
It’s a uni-party of the socialist-lite. The entire establishment consensus is more intervention, regulation, subsidies, and bailout. They just busy themselves arguing over which favourites to pick and we are forced to pay them to do it.
We need to break the cycle with real limited government and free markets, not just swap the stationery.
Ludicrous. This is the knowledge problem in action - central planners in Ottawa have no clue what’s needed on the ground in the North. Instead of cutting red tape so projects can actually get built, they shuffle paperwork between offices and call it “progress.”
Bureaucratic busywork does not build nations. What does is: secure property rights, competitive markets, and minimal government intervention. Canadians are SO tired of watching decade-long project delays while government creates busywork for itself and tries to sell it off as “progress.”
It’s time to slash regulations and let real work happen.