Kevin O'Leary sums up POS Turdo

[jazz]

Do a quick calculation just for Canada on oil, gas, uranium, potash etc. and you will quickly see we are sitting on trillions of dollars of natural resources. Apply $2000 per acre to all the farm land. The west holds all the cars. There is no other area in Canada or the world with our abundance. If AB-Sk-Mb formed their own country tomorrow it would be in the top 20 GDP.

[mustardman]

Jazz we have lots of resources yes, BUT they are Controlled by mostly Americans (some Chinese as well)
They pay us a few pennies for the right to take all the profits

What are you proposing? Nationalizing the resources companies??

[jazz]

Jazz we have lots of resources yes, BUT they are Controlled by mostly Americans (some Chinese as well)
They pay us a few pennies for the right to take all the profits

What are you proposing? Nationalizing the resources companies??

The reason we have foreigners in here is because they have the capital to exploit the resources. We may have capital her but its poorly allocated trying to prop up welfare provinces and socialist schemes. Canadians are also fearful investors and lack entrepreneurial talents and business acumen. Look at our north. Tons of resources and a couple hundred thousand people living there. look at Alaska, a million people live there.

No I don't want resources nationalized but govts can set policy so they get the investment they need both locally and from outside capital.

[grassfarmer]

... I am also interested in what you think O'Leary said in this video that was incorrect?

He claimed we have a 38 million population which we don't, he claimed we are the richest country by assets per capita in the world by a mile - which we are not - even using the corrected population figure for Canada the Saudis have more assets and less people. That was just in the first minute.

[grassfarmer]

Look at our north. Tons of resources and a couple hundred thousand people living there. look at Alaska, a million people live there.

Maybe just not as liveable place? Northwest Territories has a higher per capita GDP than Alaska so who is further ahead?

[Hamloc]

He claimed we have a 38 million population which we don't, he claimed we are the richest country by assets per capita in the world by a mile - which we are not - even using the corrected population figure for Canada the Saudis have more assets and less people. That was just in the first minute.

Canada's population as of May 1,2019 is 37.223 million so yes he rounded up. According to Investopedia Saudi Arabia is #2 at $34.4 trillion dollars. Canada #3 at $33.2 trillion dollars. China is #1. So yes you are right. But where would you rather live? In which country do you think the average citizen has a better chance to benefit from the development of these resources? Keep in mind Venezuela is number 7.

[grassfarmer]

...So yes you are right....

Thank you Hamloc. Proving O'Leary is a BSer.

[Hamloc]

Thank you Hamloc. Proving O'Leary is a BSer.

So yes Kevin O'Leary was slightly out on his numbers(less than 5%) but the content of his talk was certainly correct. Trudeau is driving foreign investment in our resource sector away from Canada and people like yourself refuse to see the forest for the trees because you don't like who is delivering the message. You attempt to belittle the intelligence of the rest of us which I find most on the left side of the spectrum tend to do doesn't change the fact that Trudeau is governing for Quebec not all of Canada. A new Angus Reid poll out today paints a grim picture for Trudeau as he is losing support in all regions of the country even Quebec. What is surprising is that his loss has been the Green Party's gain. All of Canada is finally waking up to the extreme incompetence of Justin Trudeau even though you are not. Enjoy your day.

[blackpowder]

Well if I were a fund manager right now I'd rather be a few places other than Canada. And that's not bs. Regulatory environment alone. Taxes, expenses. Labor attitude.

[AlbertaFarmer5]

Well if I were a fund manager right now I'd rather be a few places other than Canada. And that's not bs. Regulatory environment alone. Taxes, expenses. Labor attitude.

Add in indigenous issues, unlimited rights, extortion and land claims; separation, and the associated currency and political risks that go along with that.