Category: Canada’s Bolsheviks

The Backfiring Sparky Car

Many more such incidents resulting in “lost value” and there will be no economy left capable of generating any value at all.

The Legault government has poured $270 million in Swedish parent company Northvolt AB, and Fréchette confirmed this sum “has lost its value.” The Caisse de dépôt et placement du Québec has also invested $200 million in the company.

Quebec granted Northvolt a further $240 million for the purchase of land in the Montérégie region. This sum is secured by collateral on the land and assets of Northvolt’s North America subsidiary, Fréchette said.

Boondoggle Opportunities

I’m surprised that there was no mention of high speed rail as a domestic “investment” gambit for Canadian pension funds.

The policy statement was issued following a request by former Bank of Canada governor Stephen Poloz, who was given a broad mandate by the government last year to find ways to persuade Canada’s large pension funds to deploy more of their billions in investment dollars in Canada.

Team “Canada”

Government of Canada- Government of Canada plans to issue US-dollar global bond

March 10, 2025 – Ottawa, Ontario – Department of Finance Canada

In Budget 2024, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product.

To support this commitment, the Government of Canada today announced its intention to launch a US-dollar-denominated global bond tomorrow, March 11, subject to market conditions.

Suicide Nation

Not surprisingly, the Canadian Labour Congress is proposing national bankruptcy as a way to deal with Trump. That should only take about a week to play out.

Cutting off U.S. access to critical Canadian resources—including electricity, lumber, critical minerals, oil, and gas—until the tariffs are lifted.

Naturally, it includes a plea for another pandemic style spending spree:

The federal government has taken a first step by considering income supports for affected workers—an approach that helped stabilize our economy during the pandemic.

Heading For The Exits

I’m pretty sure that berating a company for leaving Canada not only confirms their belief that it was the right decision, but likely encourages others to consider doing the same.

Montreal-based TFI said it has decided to change its legal domicile to the U.S. because about 70 per cent of its operations are based there. The announcement annoyed the Caisse de Depot et Placement du Quebec, a public pension manager that has long fought to prevent companies from leaving the French-speaking province.

“The company has not informed us of its intentions, and we will express our dissatisfaction,” CDPQ spokesperson Kate Monfette in an emailed statement.

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