Jim Balsillie
speaker
218 appearances
1 recordings
1 series
first heard Mar 2025
last heard Mar 2025
Jim Balsillie’s voice in public audio — every appearance, attributed to the second.
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Appearances
I don't have a public policy that supports me there. But I'm sure not going to turn my dollar into 10 cents. Now, the public investments have always turned 10. a dollar into 10 cents, but that's taxpayer money. But if a businessman does that, they're quickly bankrupt and out of the business.
So his articulation and framing of, we just have to spend more money longer, which is Einstein's definition of insanity, I think is misplaced because he's not resolving the core issue, which is what creates a good investment opportunity in an era of intangibles.
And so I look at his prescriptions and you have to, it's important to understand this for people is that he's a macroeconomist and a central banker. And that's a very narrow function, right? Your responsibility is price stability of the money systems, banking stability in the regulatory, compliance of the payment systems. You operate in a narrow but important realm.
But your involvement with the firm and the productivity, that's a very distant part. It seems similar. Right.
Well, the metaphor I can say is it's like he's a leading dermatologist. Yeah. He's a doctor. Yeah. And he said, well, I'm a doctor. I'm going to do a neurosurgery because that's a doctor and the brain is very close to the face, which has got skin. So I can do this. And in fact, these are very, very different realms that have very different levels of expertise.
But there seems to be a comfort and a cavalierness way into realms that... have Canada's performed poorly. He has been part of a scene that's performed, an architect of a scene that's performed poorly. And he has no expertise in this realm and no experience. He didn't need to have it as central banker, but he's availing as if he does.
And it makes me nervous because his thinking to me is just a more efficient Trudeau. Yes, much more efficient. More professional.
Yeah, but I think efficient in this direction, given what's happened to Canada.
And we're last place already. What's below last place?
He's a dermatologist, and we need a neurosurgeon. And they're both on the head, but they're different, and they're really different.
Well, when I wrote that piece about we're all economic nationalists now, that was really a word to the neocons, that if you're a Friedmanite, then be a Friedmanite. Adjust to the facts on the ground. I've recently heard some things that are encouraging that seem like the emergence of, and Mr. Polyev does not owe us a full campaign yet because the campaign has not started.
So my fulsome evaluation is to be done. But I think Carney's played his cards because he's in a campaign, right? He's written a book and he's done a campaign. So I assume that's his playbook and Mr. Polyev is imminent. if there's an election imminent, which I think there is. And so, but he's done some green shoots, which intrigued me. He recently said, we need to take back control of our economy.
We need to be sovereign, secure and prosperous or something like that. But the fact that the government has a role of taking back control of our destiny and our security and our sovereignty and our prosperity and our economic entity, not as protectionism, but to make us strong for a dangerous world and to make our company strong going out to the world. Well, that's interesting.
He's introducing the second leg. And then what I've heard for the first time in 30 years, he has an industry critic named Rick Perkins who has said, we need to own our ideas. We need to control our data to build our companies. And nobody has said that. It was an interview about a month ago. And I'm like, well, where'd that come from? And then he's had... So where did it come from?
I think they're thinking. I think they're trying to think. They're trying to realize that there's two legs here. His trade critic, Ryan Williams, has been calling for updated trade strategies where we actually figure out how to project Canadian interests in these games where there's strategic behavior by nation states, which is encouraging because we should have had it 30 years ago.
Nice to start now. Michelle Rempel's been talking about updated competition strategies where you don't just throw it as one bucket. You need to compete in domestic services more, but you need to support our global traders more. So one is supporting them into the world. One is to compete away monopoly rents that hurt consumers. Again, that distinction has not been done for 30 years.
And I've heard Michelle Rempel and Adam Chambers talk about helping Canadian companies grow for the benefit and building more capacity in the civil service to deal with this change. So I see these as green shoots in what seems to be a loosely emerging industry. poly of doctrine. We see the Kearney doctrine. We know the Kearney doctrine.
A two-legged race. And if we don't have a two-legged strategy, we will be subordinated Puerto Rico without a passport. If we do have it, then the question is, are we effective in the capacity building of the political class and the civil service to actually perform into it while we've been atrophied in this realm for the better part of 30 years?
He's rooted... He's got bad economics. It's rude in the 1970s economics. It's poor economics. For a doctor, it's poor surgery.
With no strategies to resolve that dichotomy. Okay, so that's Mr. Carney. And then Moralize is that says we got to spend more money longer doing the things we did before because that's the key because people don't see the pot of gold of just opening up your wallets more, despite the fact we've been opening up our wallets for decades at enormous amounts. It's just about more and longer.
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