Simon Belanger

But, and I don't, I don't know, like, am I being too bearish?

Like, or just trying to be too cynical and like, and to, and to, I don't know what the word is, but contrarian in my take on, or, or is it like, it's kind of hard to ignore that.

Like the consumer is not doing well.

Like, yeah, the U S feels like it's ripping just on AI and CapEx and the stock market and whatever, but the consumer economy, Canada and the U S both don't feel like they're doing exceptionally well right now.

I mean, like, so then what's the objective here?

Like, what are the incentives that they're trying to create?

Is it to lower capital controls or, like, lower the...

like credit contraction or liquidity contraction that's happening because banks are like just- They're trying to stimulate credit.

Yeah.

Which is funny.

So that's like basically fiscal side trying to do the job.

I mean, Cardi's basically playing central banker then if you think it's coming from the PM's office.

I like it.

I think it's interesting.

We've said for a while, when Carney got in, are we going to enter an era where you'll have two central bankers basically trying to play Canada's economy and you'll get into an era of stronger fiscal dominance where it doesn't really matter what the Bank of Canada does if

Carney's spending all this money to try and keep the economy stimulated.

Is the Bank of Canada less relevant?

I mean, very much so, I would say, if they're not really doing anything on the monetary side.

And so, Carney's just going to go fiscal side and stimulate the economy and play.

You have basically two central banks kind of trying to game the credit environment now, spending to create jobs and economic growth and private savings.