Thoughtful Money with Adam Taggart · Tuesday, September 22, 2026
Jonathan Wellum attributes Canada's low GDP growth to government policies that have made it difficult to invest in natural resource development, citing restrictive legislation and carbon taxes. He contrasts this with the country's abundant resources like potash and uranium, which are primarily exported to the U.S.
“The wealth, the material wealth and prosperity of the country, which is almost second to none. You take one of our provinces like Saskatchewan, where you have the potash, they also have 100 years plus, plus, plus of some of the best uranium in the world. And 90% of that goes to the US.”
“So last time I was on the podcast here, on your show, I was talking about a site I went up to see in the Northwest Territories called Prairie Creek and a very interesting mine. But there's a honey badger mine, right?”
“So some of this is changing. And I think that's good because it's always better. The United States is better off if we're stronger and we're also more competitive. I think you're always better to deal with a stronger partner, not a weak partner.”
“So very little capital has come into the country to develop these resources and so that's why you've stagnated the gdp because you just haven't had the money being invested productivity has not gone up and then you flooded the country with a lot of people and so on a per capita basis there's been basically no economic growth.”