{"id":116989,"date":"2026-07-05T11:09:10","date_gmt":"2026-07-05T11:09:10","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/116989\/"},"modified":"2026-07-05T11:09:10","modified_gmt":"2026-07-05T11:09:10","slug":"marty-york-mark-carney-is-a-failed-economic-wizard","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/116989\/","title":{"rendered":"Marty York: Mark Carney is a failed economic wizard"},"content":{"rendered":"

The consensus in Canada is clear to most of us \u2014 even irrefutable \u2014 that Prime Minister Mark Carney has done very little if anything to make Jewish people in this country feel safer or more content. His contributions to rising antisemitism and divisive behaviour haven\u2019t bothered most of his supporters, however, judging by the popularity polls.\u00a0<\/a><\/p>\n

These supporters don\u2019t seem to care a great deal about the violence and hate aimed at Canadian Jews during Carney\u2019s administration. Sure, some are not wild about the documented attacks on Jewish schools, businesses, and communities and synagogues because they know these acts of vile violence tear at the very fabric of society in general. And some are\u00a0 aware that history has demonstrated repeatedly that mass chaos and turmoil starting with Jew-hate eventually tend to spread to other groups.<\/p>\n

Yet many of Carney\u2019s supporters stand by him because they have a perception, unfounded, that he is an economic guru. He\u2019s not. The supporters rave about Carney\u2019s economic prowess but the truth is that, under him, the Canadian dollar sunk in recent days to the lowest it\u2019s been in a year.<\/a> What\u2019s more, we are in a technical recession.\u00a0<\/a><\/p>\n

And, while Carney travels on Canadian tax dollars to watch soccer with his wife, shakes hands in front of cameras with other global leaders, makes \u201cimportant\u201d and costly decisions (about $150-million) to enter Canada in the Eurovision Song Contest and feeds the Hamas-connected United Nations Relief and Works Agency (UNWRA) millions and millions of our tax dollars, he is letting down Canadians on multiple economic fronts.<\/p>\n

He had sold voters a budget based on assumptions and wishful thinking, even though former PM Stephen Harper tried to warn us about him. In March, 2025, before Carney was elected, Harper accused<\/a> him of taking excessive credit for helping guide Canada\u2019s response to the 2008 global financial crisis. Carney\u2019s history of leading the Bank of Canada from 2008 to 2013, before moving to the Bank of England, was the backbone of his campaign. He described himself as someone who would bring a steady hand to the economy.<\/p>\n

\u201cI have listened, with increasing disbelief, to Mark Carney\u2019s attempts to take credit for things he had little or nothing to do with back then,\u201d Harper wrote in a letter to fundraisers at the time. \u201cHe has been doing this at the expense of the late Jim Flaherty (former Canadian Minister of Finance), who sadly is not here to defend his record.\u00a0 But let me be very clear \u2013 the hard calls during the 2008-09 global financial crisis were made by Jim.\u201d<\/p>\n

So has Carney been the economic wizard he promised to be? Nope.<\/p>\n

Poilievre \u2014 granted, not unbiased \u2014 noted recently<\/a> that Canada is \u201cthe only G7 country in a recession.\u201d<\/a> He added: \u201cCanadians are starving, losing their jobs and missing mortgage payments. And Mark Carney is hiding from accountability.\u201d<\/p>\n

Canadians lost <\/a>112,000 jobs in the first quarter of 2026<\/a> and have the worst per-capita number of job losses in the. Business investments have declined for five consecutive quarters. Canada has the worst investments per capita in the G7. Canada has the worst household debt in the G7.<\/p>\n

Poilievre also cited Food Banks Canada statistics showing rising food insecurity. But he is not the only\u00a0one noticing Carney\u2019s shortcomings economically.<\/p>\n

Annette Ryan, Canada\u2019s new independent Parliamentary Budget Officer, recently acknowledged<\/a> in a response to Conservative MP Tamara Jansen that Carney\u2019s budget has a 99 per cent chance of missing its targets.<\/p>\n

\u201cI think that is a fair statement,\u201d Ryan said, adding:\u00a0 \u201cOur forecast saw a lot of revenue weakness, especially in personal income taxes.\u201d<\/p>\n

And what about Carney\u2019s vow to stand up to, and reach a deal with, U.S. President Donald Trump? Well, that\u2019s gone nowhere. Trump has declined to renew the Canada U.S. Mexico Agreement and economists say more obstacles with this will further unsettle Canada\u2019s financial problems.<\/p>\n

And Carney\u2019s plans to accelerate homebuilding by giving $5-billion of tax money to B.C.\u2019s infrastructure? Yep, many questions here, too. According to a recent commentary at the Fraser Institute web site, the plan to buy 2,200 vacant condos in B.C., and convert them into affordable homes, is deeply flawed.\u00a0<\/p>\n

\u201cUsing taxpayer dollars to buy existing condos will not increase the housing supply,\u201d the Fraser Institute said. \u201cInstead, it could undermine the competition that\u2019s desperately needed to improve housing affordability in the province. Government should stay out of the condo market.\u201d<\/p>\n

Carney justified his economy in early June by saying the recession is part of a \u201csettling-in\u201d period.\u00a0<\/a><\/p>\n

But while the \u201csettling-in\u201d period takes place, many Canadians are hurting. More and more.<\/p>\n

Marty York is renowned as a national columnist, associate editor and television personality in Canada. He spent the past decade as chief media officer and communications director for a Canadian Jewish human rights organization.<\/p>\n