Written by Matt Morgan, Editor at the Daily Bell:

During his campaign, Mark Carney borrowed the Canadian hockey term, “Elbows Up!” to throw a few sharp ones at the neighbours to the south. It makes for fine theatre. The trouble is that the scoreboard doesn’t care how high your elbows go. For the past decade, the Liberal Federal leadership has plunged Canada deeper and deeper toward a third-world country.

Here are three examples to celebrate just how well our leftist dictatorship has served us Canadians.

The loonie took an elbow to the chin

While the flags come out, the Canadian dollar is quietly crawling toward 70 cents and just printed a “death cross,” the moment its 50-day average slips below its 200-day. Our publisher, Mark Jeftovic flagged the pattern. The market is voting, and it is not voting for the home team.

https://twitter.com/jeftovic/status/2071243922416763214

Two Economies, One Widening Gap

Look past the anthem and you find a lost decade. Since 2015, real output per American has climbed about 18 percent. Per Canadian, it is up roughly 2 percent, and 2024 actually came in below 2019. This is the result of capital herded into housing and the public payroll instead of the factories, pipelines, and mines that make a worker more productive. Population has grown. Prosperity has not. It has declined.

Someone has to pay for the party

The elbows-up state runs on borrowed money. General government gross debt now sits near 111 percent of GDP, up from 67 percent in 2007. A weaker loonie only makes the foreign-held portion heavier. Future Canadians are picking up the tab for today’s standing ovation.

Lower the elbows, raise the output

By all means wave the flag. Just know what you are bracing against. The cure for a sinking dollar and a stalled paycheck is not a louder anthem or a sharper elbow. It is sound money, a smaller government, and getting the state’s own elbows out of the economy so Canadians can get back to producing.

Happy Canada Day.