Canada's Currency Crash 📉
Where news meets rational thinking
Good morning, It’s Thursday, December 19th. In today’s news, Canada’s dollar crashes to its lowest point since the pandemic, Liberal MP calls on Chrystia Freeland to run for Party leadership, a Highway 401 tragedy exposes justice system failures, Alberta Vows Legal Challenge Despite Ottawa Shifting Net-zero Timeline to 2050, and much more.
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Canada’s Dollar Crashes to Pandemic Low Amid Fiscal Chaos
The Canadian dollar has dipped below $0.70 USD for the first time since March 2020, when the economy was shaken by pandemic uncertainty. This decline reflects deeper issues plaguing Canada’s economy. Just one year ago, the loonie stood at $0.75 USD, and since January, it has dropped 7.46% in value.
This downturn coincides with the sudden resignation of Finance Minister Chrystia Freeland, mere hours before she was to deliver the fall economic statement. The update revealed a staggering $62 billion deficit for the 2023-2024 fiscal year, far exceeding Freeland’s earlier “guardrail” of $40 billion. Such fiscal unpredictability has spooked international investors, with experts like Jack Mintz attributing the loonie’s fall to political instability, rising debt, and shrinking international capital inflows.
Canada’s lower interest rates compared to the U.S. exacerbate the issue, driving investors to U.S. assets. Additionally, global declines in oil prices—a cornerstone of Canada’s exports—have added pressure to the loonie.
While exporters may see short-term benefits, importers and consumers face higher costs, with supply chain pressures compounding the challenges. Canadians traveling internationally or purchasing imported goods will undoubtedly feel the pinch as their purchasing power erodes.
The loonie’s decline should serve as a wake-up call for Canadian leaders to embrace fiscal responsibility and prioritize policies that restore confidence in the economy. Source.
Liberal MP Calls for Chrystia Freeland to Run for Party Leadership
Chrystia Freeland’s resignation as finance minister has sparked debate within the Liberal Party, with MP Sean Casey endorsing her as a potential leader despite mounting criticism. Freeland’s abrupt departure—just hours before delivering the Fall Economic Statement—was framed as a principled stand against Prime Minister Justin Trudeau’s economic policies, which she called "costly political gimmicks." However, her critics see it as an indictment of her complicity in Trudeau's leadership and a reflection of the deeper issues plaguing the Liberal Party.
Freeland’s tenure has been marred by controversies, from her role in freezing Canadian bank accounts during the Freedom Convoy to her massive mishandling of Canada’s economy. Her critics argue that she shares responsibility for Trudeau’s policies, which have alienated Canadians and pushed the party further down an unpopular path. Her intellectual reputation within the caucus, praised by Casey, does little to overshadow her alignment with Trudeau’s direction, which many feel has eroded public trust in the Liberals.
The Liberal Party, already reeling from internal dissent and a lack of inspiring leadership, faces a crossroads. Freeland’s potential leadership bid is unlikely to address the need for fresh blood and new ideas—qualities desperately needed to reinvigorate the party. Polls indicate a public appetite for change, with former Bank of Canada Governor Mark Carney topping the list of preferred Liberal leaders, though even he garners limited support. Notably, 26 percent of Canadians favoured “none of the above,” highlighting widespread disillusionment.
As the Liberals grapple with Freeland’s departure and Trudeau’s persistent hold on leadership, calls for reform are growing louder. Many argue that the party’s survival hinges on embracing ambitious, service-oriented leaders who prioritize Canadians’ needs over political theatrics—leaders who, at this time, seem conspicuously absent. Without such a shift, the Liberals risk further alienation from the public and an uncertain future.
Highway 401 Tragedy Exposes Justice System Failures
A robbery at a Clarington liquor store spiraled into chaos, culminating in a fiery wrong-way crash on Highway 401 that claimed the lives of four people, including a three-month-old infant and his grandparents. The suspect driver of the van, Gagandeep Singh, was killed in the crash, but his accomplice, Manpreet Gill, who acted as a lookout during the robbery, survived. Despite the gravity of the crimes and their devastating consequences, Gill has walked away with little more than a slap on the wrist.
Gill faced 13 charges, including robbery, after the April 29 incident, but he wasn’t held accountable for the deaths or the reckless police chase that triggered the tragedy. Instead, he pleaded guilty to lesser charges, including theft under $5,000, and received a 5.5-month jail sentence—already served—and two years' probation. This lenient outcome underscores a justice system that appears woefully unprepared to address the seriousness of cascading crimes.
Gill’s history of breaching probation and struggling with opioid addiction paints a broader picture of systemic failure. The court acknowledged his addiction and the potential for immigration consequences, yet the sentencing does little to reflect the severity of his involvement in events leading to the deaths of innocent people.
As Ontario’s police watchdog continues its investigation into the officers’ role in the pursuit, Canadians are left questioning whether anyone will be held truly accountable. Four lives have been lost, yet justice remains elusive. The lack of repercussions for those involved in such a catastrophic chain of events sends a chilling message: devastating outcomes can result from reckless behavior, but the justice system may simply look the other way. Source.
Alberta Vows Legal Challenge Despite Ottawa Shifting Net-zero Timeline to 2050
Alberta has criticized the federal government’s Clean Electricity Regulations, calling them unconstitutional despite the federal shift from a 2035 net-zero power grid target to 2050. Premier Danielle Smith and provincial ministers argue the regulations infringe on provincial jurisdiction and would raise electricity costs for families. Alberta plans to challenge the regulations in court, citing concerns over affordability, investment loss, and grid reliability.
The federal government claims the regulations will lower bills, create jobs, and reduce emissions, aligning with G7 net-zero commitments. Alberta previously invoked its Sovereignty Act to resist federal mandates, warning of blackouts without natural gas baseload power. A Canada Electricity Advisory Council report deemed the 2035 target unrealistic, estimating transition costs of $1.1-$2 trillion and recommending 2050 instead. In response, the Liberal government is offering $35 billion in clean energy tax credits and $60 billion for grid upgrades to support the transition. More
One of Assad’s Mass Graves in Syria Found With as Many as 100,000 Bodies
On the outskirts of al-Qutayfa, near Damascus, lies a mass grave believed to be one of the largest from Bashar al-Assad's regime. For over a decade, Assad’s forces used this site to bury thousands of victims of torture and execution during Syria's civil war. Locals describe late-night arrivals of trucks carrying bodies and the grim task of digging ever-deeper graves. Residents, paralyzed by fear, stayed silent as the regime sought to cover its tracks, exhuming and relocating remains. Estimates suggest over 100,000 people may be buried there, but no forensic investigation has been conducted yet. Families of the missing desperately seek answers, haunted by the atrocities committed in their town. More
Netanyahu Says Israeli Troops Will Occupy Buffer Zone Inside Syria for Foreseeable Future - More
House Foreign Affairs Chair Says Drones Flying Over US Bases Likely From ‘Communist China’ - More
Trump Again Floats Idea of Making Canada the '51st State': 'They Would Save Massively' - More
Palestinians Sue Blinken Over Continued US Military Aid to Israel Despite Rights Abuses - More
Derek Chauvin Allowed to Test George Floyd’s Heart Tissue to See if it Was a Health Condition, Not Officer’s Knee, that Killed Him - More
FDA Warns Online Vendors Selling Unapproved Weight-Loss Drugs
The FDA has issued warning letters to four companies—Xcel Peptides, Swisschems, Summit Research, and Prime Peptides—for selling unapproved versions of GLP-1 drugs, including semaglutide and tirzepatide, marketed as diabetes and weight-loss treatments. Despite labelling their products as "research use only," the FDA found evidence they were intended for human use. Another company, Veronvy, was warned for misbranding oral GLP-1 products, falsely implying FDA approval. The companies must respond within 15 business days or face legal consequences, including seizures or injunctions. More
Police to Seize £2.7 Million From Andrew and Tristan Tate Over Unpaid Tax Claims - More
Restaurants Who Charge Tax During Holiday Break Could Get Investigated by CRA: Industry Expert - More
Grubhub to Pay $25 Million Settlement for Allegedly Harming Diners - More
Flat-Earthers Travel to Antarctica to Test Their Theories
A group of Flat Earthers and “globe Earthers” travelled to Antarctica as part of "The Final Experiment," led by Pastor Will Duffy, to observe the midnight Sun and resolve the debate over Earth's shape. The midnight Sun—continuous daylight during summer at the poles—is a phenomenon possible only on a tilted, rotating sphere, as the axial tilt positions the South Pole toward the Sun for 24 hours. This observation directly contradicts flat Earth theories, which cannot account for such an occurrence.
Participants, including well-known Flat Earther Jeran Campanella, witnessed the midnight Sun and acknowledged its implications. Campanella admitted it disproves the azimuthal equidistant (AE) map often used in flat Earth models, saying, “I honestly now believe there is [a 24-hour Sun].” While he accepted the evidence, others, like Austin Whitsitt, claimed additional data might still align with flat Earth theories.
The trip also debunked the Flat Earth community’s claim that the 1959 Antarctic Treaty prevents civilian visits, a belief often cited as part of a global conspiracy to hide Earth’s shape. While the expedition cost $31,495 per person, the midnight Sun serves as accessible, observable proof of Earth's spherical nature, alongside other evidence like circumnavigation, satellite imagery, and gravitational physics. More
California Squirrels Are Eating Other Rodent for the First Time - More
China Says Astronauts Completed Nine-hour Spacewalk, Breaking US Record - More
Netflix Announces College Football Series Following the SEC's 2024 Season
The SEC announced a Netflix docuseries covering the 2024 football season, set to release next summer with eight 45-minute episodes. The series will feature 10 SEC programs, including Arkansas, Auburn, Florida, and LSU, but notably excludes top teams like Alabama, Georgia, and Texas. Produced by Box to Box Films, known for Drive to Survive, the series will follow players and coaches on and off the field. While it won’t capture marquee games like the SEC Championship, it will showcase key moments, such as Vanderbilt’s upset over Alabama. Netflix continues to expand its sports programming with similar behind-the-scenes series. More
Real Madrid, Brazil Forward Vinicius Junior and Barcelona Midfielder Aitana Bonmati Claim Top FIFA Best Awards - More
Disney Axed Transgender Storyline from Pixar Show Win or Lose - Disney's official statement: "When it comes to animated content for a younger audience, we recognize that many parents would prefer to discuss certain subjects with their children on their own terms and timeline." More
Scientists Develop Tiny Implantable Sensors That Help Broken Bones Heal in Weeks Rather Than Months
Odd 2024: The 10 Oddest Guinness World Records of the Year - My favourite: Most items identified by a parrot in three minutes
On This Day in 1971, Stanley Kubrick's film and cult classic "A Clockwork Orange" based on the book by Anthony Burgess and starring Malcolm McDowell premieres
Where is the world’s outrage over the discovery of the mass grave in Syria? Where are the protests calling for Assad, the murderer, be held accountable and brought to justice? Where are the genocide hashtags? What blatant hypocrisy from our virtue signalers. Don’t bother taking your cues from these people. They will be responsible when the West falls.