Quotulatiousness

October 4, 2026

Mark Carney’s … complicated … relationship with America

Filed under: Business, Cancon, USA — Tags: , , , , — Nicholas @ 05:00

On her Substack, Melanie in Saskatchewan wonders what is going on in Mark Carney’s world whenever the United States comes up. At times, you would assume he hates the US, yet the vast majority of his personal wealth is invested there. His family members live there. It’s a paradox:

AI-generated image from Melanie in Saskatchewan

I’m starting to think Mark Carney has a passionate, personal hatred of America.

And I don’t mean Donald Trump. Plenty of people hate Donald Trump. I mean America itself, or at least the enormous role America has played in Canada’s economy for generations. Because the longer I listen to Carney talk about where he wants Canada to go, the more I wonder whether Trump caused this economic divorce at all … or whether he was simply the spectacular act of infidelity Carney needed to finally file the papers.

Maybe hate is too strong. Maybe geopolitical jealousy has stages too: irritation, resentment, righteous indignation and finally whatever stage comes after, “I’d love to go out sometime, but unfortunately I’ll be washing my hair indefinitely”. Whatever stage Carney has reached, I’m increasingly convinced this is about considerably more than Donald Trump.

Because we can document Carney publicly talking about a changing world order more than fifteen years ago. How long he had been developing those ideas before putting them into speeches, I have no idea. We don’t need to invent an origin story. The public record is interesting enough.

I can’t prove Carney hates America. Maybe he loves it. Maybe there’s a Louisville Slugger sticking out of a Davos swag bag somewhere between six conference lanyards, a King Charles commemorative tea towel and a couple of those luxury Normandy butter cups that apparently require their own travel arrangements. But if Mark Carney loves America, somebody should probably tell America the relationship is still on.

He certainly never seemed troubled by American money. His disclosed investments included hundreds of companies, many of them American. And I don’t begrudge him that. If American companies offered a good return, invest away. What makes it interesting is that while his money was quite comfortable in America, Carney had already spent years publicly describing a world becoming considerably less centred on American economic power. Donald Trump didn’t inspire that. He came crashing through the front door years later, apparently oblivious to the fact that Carney had already furnished the room.

Canadians have since been handed a wonderfully tidy explanation for everything happening now. Trump returned. Trump threatened tariffs. Trump called Canada the 51st state. Trump made governor jokes. CBC, our publicly funded national broadcaster, and a Canadian media industry operating alongside various government support programs amplified every provocation until everybody knew exactly which Trumpism could send Canada through the ceiling.

He said “51st state”. Canada erupted, so he said it again. Trump noticed. The media noticed. And I have a very hard time believing Liberal strategists somehow failed to notice the political value of an issue resonating that powerfully with Canadians.

But heaven forbid an opposition MP or ordinary Canadian asks to see where our money went. Suddenly negotiations, contracts and records disappear behind confidentiality, redactions and “national security”. Apparently telling Canadians what our own government is doing requires security clearance, but advertising precisely which Trump taunts are working required something closer to a neon sign: YES, DONALD. RIGHT THERE. THAT BUTTON!

Why not circle the red button, write DO NOT PRESS across it and explain exactly what happens when he does? Because if humanity has established anything about a big red button labelled DO NOT PRESS, it’s that nobody has ever wanted to press that bastard more.

From MG 34 to MG 42: Building Hitler’s Buzzsaw – Nazi Rearmament 08

Filed under: Germany, History, Military, Weapons, WW2 — Tags: , , , — Nicholas @ 04:00

World War Two
Published 3 Oct 2026

The MG 34 pioneered the modern general-purpose machine gun. The MG 42 preserved that battlefield versatility while cutting manufacturing labor roughly in half and producing the terrifying sound remembered as “Hitler’s Buzzsaw”.

In this Nazi Rearmament episode, Spartacus traces the development of the MG 34 and MG 42 from clandestine German weapons programs during the 1930s through mass production and combat in World War II.

We examine how one basic weapon could accompany an infantry squad, deliver sustained long-range fire, engage low-flying aircraft, and serve inside tanks and fortifications. We also explore why the beautifully machined MG 34 became an industrial problem, and how stamped steel, roller locking, rapid barrel changes, and a cyclic rate reaching 1,500 rounds per minute transformed its successor.

But this is more than the story of two famous German machine guns. It is also a study of Nazi Germany’s war economy: technically ambitious and capable of remarkable innovation, yet ultimately unable to overcome the manpower and industrial resources of the coalition it chose to fight.

Finally, we follow the weapons beyond 1945, from the continued foreign service of the MG 34 to the MG 42’s postwar descendants, the MG 1, MG 2, and MG 3.

Which small arm should we cover next: the MP 40, FG 42, or StG 44?

Jaguar – a case study in brand suicide

Filed under: Britain, Business, India, Media, Politics — Tags: , , , , — Nicholas @ 03:00

The Jaguar E-type was, in my opinion, the best-looking car of the 20th century. It was all downhill from that point, sadly:

Jaguar killed itself. No villain required, no recession to blame, no supply chain disruption to hide behind. Tata Motors bought a fading but salvageable brand in 2008 for $2.3 billion and spent the next fifteen years turning it into a case study in how to destroy capital.

The rebranding campaign of late 2024 was the public execution. Jaguar dropped its leaping cat logo, fired its entire existing customer demographic via press release, and replaced a century of racing heritage with a pastel-colored advertisement featuring zero cars. The marketing team apparently decided the path to profitability ran directly through alienating the people who actually bought Jaguars. Brilliant.

The rebrand was just the visible wound. The rot started earlier. Jaguar spent years producing vehicles with reliability ratings that made Land Rover look like a Swiss watch, while charging Mercedes money for the privilege. The F-Pace, the E-Pace, the I-Pace: each one a beautiful object that dealers apologized for in advance. You bought the badge and got a subscription to your mechanic’s vacation fund.

The pivot to an all-electric lineup, announced with great fanfare in 2021, then delayed, then sort-of-delayed-again, captured everything wrong with a company led by government subsidy chasers rather than engineers. Jaguar chased EV tax credits and green virtue points instead of fixing the fundamental problem. Nobody trusted the cars.

Markets are merciless precisely because they are honest. Customers stopped buying, and no amount of rebranding or regulatory coddling reversed that verdict. Capital allocated to a brand that cannot hold a customer is capital destroyed. Tata learned this lesson expensively. You, having never bought the car, learned it for free.

The ad campaign is just a sign on the door that reads, “This company is woke trash”. The real rot lies beneath the surface. Firing the marketing agency won’t change that.

Why the Allies Lost the Battle of Gallipoli 1915

The Great War
Published 8 May 2026

On April 25, 1915 Australian, British, New Zealand and French forces landed at the mouth of the Dardanelles to capture the Gallipoli peninsular and march on Constantinople. But the Ottoman defenders, including legendary officer Mustafa Kemal, held firm and the Battle of Gallipoli would last for 7 bloody months.
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QotD: Auditors and the taxation system

Filed under: Bureaucracy, Business, Government, Quotations, USA — Tags: , , — Nicholas @ 01:00

Is it plausible that a billionaire paid no taxes for a period of several years? Yep. Totally. See all that stuff I wrote above about the complicated tax code and how it is an accountant’s sacred duty to take advantage of all the stupid laws congress has passed to save their client’s money? Pretty much that. It has happened many times before, and it will happen many times again.

One thing that’s really unfair about our tax system is that it is rigged in favor of people who have more resources. Government meddling makes it more costly to conduct business. The more complicated the regulatory burden, the more smaller companies can’t compete. Make the laws complicated enough and the only companies that stay in business are the ones who can afford to pay for twenty guys like me. (my last regular accounting job paid extremely well, and nearly everything I did was jump through government mandated hoops, filling out government mandated paperwork which nobody in the government would probably ever read)

Trump has those resources. I bet he’s got a room full of accountants, and their leader is probably a grizzled old CPA with an eye patch and a raven who sits on his shoulder. The raven also has an eye patch and an accounting degree. This man has wrestled bears, and he’s going to take advantage of every tax break in the US Code for his client, and do so gleefully, knowing that many of those laws were signed by Barack Obama and Bill Clinton.

On the other side, you know damned good and well that the IRS has sent their most fearsome auditor against him. This man sold his soul to the devil, and then fined the devil for failing to list that soul as a depreciable asset. When he shows up to audit your company, he appears a flash of fire and brimstone, as a Finnish death metal band plays his theme song. He is an auditor bereft of mercy, compassion, or pity, and beneath his leathery wings serve a legion of IRS goblins, who will crawl into every nook and cranny of the Trump Corporation’s P&L looking for errors, and if a mouse so much as shits a turd large enough to unbalance that ledger, there will be hell to pay.

Is it unfair that rich guys can employ Gandalf level CPAs and take advantage of more complicated tax laws, while regular people use TurboTax? Yep. But in the meantime, as long as those tax laws are there, the rich guys would be utter fools not to take advantage of them.

Larry Correia, “No, You Idiots. That’s Not How Taxes Work – An Accountant’s Guide To Why You Are A Gullible Moron”, Monster Hunter Nation, 2020-09-28.

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