“He’s going to have a hell of a time getting a budget done if he keeps telling everybody we’re going to ram down carbon taxes on every business in Canada,” says Kevin O’Leary, aka Mr. Wonderful, in an exclusive interview with Daniela Cambone following the Canada election. He warns of serious challenges ahead for Mark Carney in his effort to “rebuild” the Canadian economy. Unless Carney repeals elements of the Liberal legacy—such as Bill C-69 and carbon taxes—it will remain a struggle to attract investment back to Canada. O’Leary also describes Carney’s win as “historic,” but attributes much of the victory to Trump’s antagonism toward Canada. “A unique opportunity for Carney… let’s forget about the Liberals’ track record and let’s focus on the enemy within North America, and that was Trump.” Finally, O’Leary highlights the fragility of Carney’s position, noting that minority governments in Canada typically last only 18 to 24 months. Watch the video to hear O’Leary’s full analysis.

Key Facts:

– O’Leary called Mark Carney’s victory “historic.”

– Carney faces a tough road ahead.

– Past Liberal policies damaged Canada’s economy.

– Pierre Poilievre “will probably be an effective opposition leader.”

– What does the future hold for Canada under Carney?

Kevin O’Leary on the Canadian Elections, the Dollar Decline, and What Comes Next for the Economy

The recent Canadian elections have set off shockwaves across the financial and political spectrum. In what many are calling a historic upset, Mark Carney led the Liberal Party to a surprising victory, staving off a conservative surge and reshaping the conversation about Canada’s economic future. To break it all down, Kevin O’Leary joined Daniela Cambone for a candid and urgent post-election analysis.

At ITM Trading, we’re not interested in political hype. We focus on what matters: protecting wealth, identifying systemic risks, and helping our clients prepare for what’s next. And as Kevin O’Leary laid out, the road ahead could be treacherous for Canada—and instructive for investors everywhere.

A “Historic” Election With Deep Economic Implications

O’Leary called the outcome “historic”—not because of policy breakthroughs or economic strength, but because of voter fatigue and distraction. He argues that Carney skillfully deflected from the Liberal Party’s weak track record by invoking Donald Trump as a threat to Canadian values.

“Let’s forget about the Liberal track record and focus on the enemy within—Trump,” O’Leary said, explaining how Carney used the narrative to pull voters back from the brink of abandoning the party altogether.

This, O’Leary warns, masks the real issue: Canada’s economy is stagnating, its investment climate is toxic, and its currency is in decline.

Capital Is Fleeing Canada—and Not Quietly

One of the most urgent warnings from the conversation centered on Canada’s inability to attract capital. O’Leary didn’t hold back:

“Canada is not investable. C-69 and the carbon tax killed off any chance of getting projects done.”

He pointed to billions of dollars flowing into U.S. states like Texas, Florida, and Tennessee while Canada’s own pension funds refuse to invest domestically. The message is clear: if you can’t compete for capital, you can’t grow wealth.

This economic abandonment isn’t just a national problem—it’s a personal one for anyone trying to preserve the purchasing power of their savings in a weakening dollar environment.

The Canadian Dollar: A Bellwether for Decline

While some celebrated the Canadian dollar’s temporary stabilization post-election, O’Leary cautions that it’s nothing more than a pause in a longer downward trend.

“We have no GDP growth. We have no income. We just have debt spending. The more we pile on, the more the Canadian dollar goes down.”

For our audience at ITM Trading—especially those who remember when a dollar could actually buy something of value—this is the exact kind of red flag that justifies moving into tangible assets like gold and silver.

Could Canada Fragment?

Perhaps most concerning was the growing sentiment that Canada itself could fragment, with provinces like Alberta or Quebec reviving separatist movements in response to a lack of representation or economic opportunity.

“That’s a real risk,” O’Leary said. “Carney has to prove he can rebuild the country—fast—or he’ll preside over its unraveling.”

And if a Western nation like Canada can’t hold itself together under economic pressure, what does that say about broader global stability?

What Needs to Happen Next?

O’Leary lays out a blunt checklist for Carney:

• Repeal Bill C-69: This legislation has made infrastructure and resource development almost impossible.

• Pause carbon taxes: If Canada wants to compete with U.S. states offering tax-free environments, it must stop punishing investment.

• Clean house: O’Leary didn’t shy away from naming names—specifically, Chrystia Freeland, whom he called “Canada’s worst finance minister ever.”

“Canada has the richest resources per capita on the planet. Unfortunately, it’s been historically run by idiots.”

Only by reversing these policies, O’Leary argues, can Carney attract investment, rebuild industry, and restore economic sovereignty.

What This Means for Your Wealth

The takeaway from this conversation isn’t limited to Canada. The symptoms O’Leary described—capital flight, inflation, debt spending, and a declining currency—are present in many Western economies, including the U.S.

At ITM Trading, we help clients turn these warning signs into proactive strategies. That means:

• Diversifying out of fiat currencies.

• Protecting savings with physical gold and silver.

• Preparing for inflation, market volatility, and political instability.

Whether you live in Canada, the U.S., or beyond, the principles remain the same: don’t wait for permission to protect your wealth. Get ahead of the collapse—before the reset begins.

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