... Mark Carney launched GFANZ to unite global finance around net-zero; when the big banks quietly quit, he walked away too. Now he's rebranded as Canada's nationalist bulwark against Trump - e.g. his Davos conference bravado. 🤨

Sam Slick always had a new clock to sell.

#CanadianPolitics #MarkCarney #SamSlick #cdnpoli

🇨🇦 Sam Slick: Canada is getting a sovereign wealth fund. What are they and how might this one work?
https://www.cbc.ca/news/business/canada-sovereign-wealth-fund-explainer-9.7179217

Sovereign wealth funds are state-owned investment accounts, usually started with a country's extra money

Extra money, meh! Huge economy (9th globally, with under 42M population) yet "austerity budgets." Underfunded social programs, infrastructure, services; overpriced goods. Capitalist utopia.
...

... In Abu Dhabi recently, Carney met with UAE business executives, including the leadership of sovereign wealth funds, focusing on critical minerals, energy, ports, and AI. Canada welcomed the UAE's decision to invest $70 billion (CAD, ~US$50B) in Canada.

A sovereign wealth fund uses government surplus reserves to invest in financial assets like stocks and bonds but is independently managed. Textbook examples are Norway's Government Pension Fund Global (now $2T+) and the Gulf states.
...

... Sam Slick: 🇨🇦 sovereign fund funded by *borrowed* money 🤨

Last fall's federal budget forecast a $78B deficit in 2025–26 and a $65B deficit for 2026–27.

When asked directly where the $25 billion comes from, Finance Minister Champagne did not answer directly but said the government's rel. strong fiscal standing internationally would allow it to borrow at favorable rates. 🤨

Wealth <--> protects <--> power

#capitalism #billionaires #inequality
v.
#DemocraticSocialism #equality #sustainability

🇨🇦 #SamSlick, er: Mark Carney - New “sovereign wealth fund” Canada Strong Fund not what it seems
https://www.policyalternatives.ca/news-research/canadas-new-sovereign-wealth-fund-is-not-exactly-what-it-seems
https://mastodon.social/@persagen/116485426041730443

confusing announcement; worrying signals about how it will be used

Wealth <--> protects <--> power

#capitalism #billionaires #inequality #IndustrialComplexes
v.
#DemocraticSocialism #equality #sustainability

Asset management
| • Asset recycling << convert public good into private asset
| | • Canada Infrastructure Bank
| | • Canada Strong Fund

🇨🇦 Mark Carney #SamSlick - On windfalls and ["sovereign"] wealth funds 🤨
https://www.policyalternatives.ca/news-research/on-windfalls-and-wealth-funds/

tldr good for wealthy elite, corporations - not so, average Canadians

🇨🇦 #SamSlick Claims Fossil Fuel Expansion Is ‘Canada Strong.’ U.S. Investors Get the Profits
https://mastodon.social/@persagen/115750438649688909

🇨🇦 Prime Minister Mark Carney. I call him Sam Slick
https://mastodon.social/@persagen/116485390273041023

Wealth <--> protects <--> power

#capitalism
vs.
#DemocraticSocialism #equality #sustainability

Capitalism + fossil fuels = climate change

🇨🇦 Mark Carney #SamSlick -- Fed gov't prioritizing Canada’s pharma company profits
https://www.policyalternatives.ca/news-research/the-federal-government-is-prioritizing-canadas-pharma-company-profits

* health minister's speech to pharmaceutical industry’s most imp't association

* bodes poorly for public health

* > 2/3drugs fed gov't wants approved more rapidly are at best, minor therapeutic advances over existing products

* main beneficiaries: companies making them, not the patients taking them - another point the health minister didn't mention

#capitalism vs. #DemocraticSocialism

Companies invariably incentivize greed / profit - not the public / common good - regardless of front-facing statements and policies.

Capitalism is the cancer destroying societies / planet Earth.

🇺🇲 🇬🇧 #Christofascism #whiteNationalism #theocracy #tyranny
🇨🇦 #Trumpism

Wealth <--> protects <--> power

#capitalism #billionaires #IndustrialComplexes : military, prison, poverty ...
vs.
#DemocraticSocialism #equality #sustainability

Capitalism + fossil fuels lobby = anthropogenic climate change

🇺🇲 U.S. military machine destroying our planet
https://therealnews.com/abby-martin-the-us-military-machine-is-destroying-our-planet

“It’s time for you guys to wake up, because we don’t want our planet destroyed [by] your out-of-control government and military empire.” << 100x this

🇺🇲 🇬🇧 #Christofascism #whiteNationalism #theocracy #tyranny
🇨🇦 #Trumpism

Wealth <--> protects <--> power

#capitalism #billionaires #IndustrialComplexes : military, prison, poverty ...
vs.
#DemocraticSocialism #equality #sustainability

🇨🇦 #SamSlick (Mark Carney) - Canada’s most expensive election promise was climate inaction
https://www.policyalternatives.ca/news-research/canadas-most-expensive-election-promise-was-climate-inaction

Extreme weather events caused $8.5B damages in 🇨🇦 in 2024
https://www.ibc.ca/news-insights/news/2024-shatters-record-for-costliest-year-for-severe-weather-related-losses-in-canadian-history-at-8-5-billion

We're on track for $100B per year in damages by 2050; $1 trillion by 2100

m/w Sam Slick promotes fossil fuels industry

#capitalism #billionaires #IndustrialComplexes : military, prison, poverty ...
vs.
#DemocraticSocialism #equality #sustainability

Capitalism + fossil fuels lobby = climate change

🇨🇦 Mark Carney #SamSlick - Bill C-30: Privatizing airports & letting oil companies profit off Iran war
https://www.policyalternatives.ca/news-research/bill-c-30-privatizing-airports-and-letting-oil-companies-profit-off-the-iran-war

Capitalist gov't at work

* airport privatization
* lack of an excess profits tax on oil & gas companies during the Iran war
* ongoing program of federal public sector cuts

Capitalism 💰️️- The cancer consuming society & the planet 🌎️️
https://mastodon.social/@persagen/116704428152871254

Wealth <-> protects <-> power

#capitalism #IndustrialComplexes
v.
#DemocraticSocialism #equality #sustainability

🇨🇦 Mark Carney aka #SamSlick hard at work: Ottawa Is Plotting New Ways To Contain Worker Power
https://www.readthemaple.com/ottawa-is-plotting-new-ways-to-contain-worker-power

"“Building Canada Strong for All – Powered by Canada’s Workers 🤔

Consultation on Labour Code changes an attempt to reduce labor disruption at behest of employers.

Protecting 's elites ...

Capitalism: Cancer consuming society, planet
https://mastodon.social/@persagen/116704428152871254

Wealth <-> protects <-> power

#capitalism #IndustrialComplexes
vs.
#DemocraticSocialism #equality #sustainability

🇨🇦 #SamSlick - Mark Carney Adviser Says AI Data Centres ‘Provide Markets’ for Gas
https://thetyee.ca/News/2026/06/11/Mark-Carney-Adviser-AI-Data-Centres

Boosting energy production: one of top "public policy benefits to Canada" of data centres, says internal government document.

Profits (elites) over people, planet.

💰️ Capitalism: Malignant by Design
https://mastodon.social/@persagen/116704428152871254

Wealth <--> protects <--> power

#capitalism #billionaires #inequality #IndustrialComplexes
vs.
#DemocraticSocialism #equality #sustainability

Power to the people! ✊️

🇨🇦 #SamSlick aka Mark Carney eliminating watchdog overseeing companies operating abroad
https://www.cbc.ca/news/politics/carney-eliminating-canadian-ombudperson-for-responsible-enterprise-9.7232539

Critics said the office created under Trudeau lacked teeth << so, just abandon the effort? 🤨

* eliminating watchdog position responsible for investigating allegations of human rights violations committed by Canadian companies operating abroad >> e.g. Israeli genocide of Palestinians

💰️ Capitalism: Malignant by Design
https://mastodon.social/@persagen/116704428152871254

Wealth <--> protects <--> power
#capitalism