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Massive online petition to remove Trudeau is the largest ever in Canada

A groundswell of discontent is sweeping across Canada as citizens express their frustration with Prime Minister Justin Trudeau’s leadership, with over 286,000 Canadians signing petition e-4701 as of this writing. 

The petition, sponsored by Conservative Member of the Parliament Michelle Ferreri who represents the district of Peterborough-Kawartha, calls for a vote of non-confidence to be brought at the House of Commons. And if won, the petition asks for a snap federal election within 45 days. 

The petition says that the current government is not acting in the best interests of its citizens, and that “the policies of this government aren’t aligning with the crisis Canada is facing: housing costs, infringement of civil liberties, highest inflation in history, unbalanced immigration policies, taxation to the point of poverty, weakening of our economy by importing natural resources that Canada already has and under-utilizes.”

You can read more on the matter here.

What’s going on?

• Elon Musk’s Starlink Is Starting To Lose Subsidies (theDeepDive)

• Turkish Minister Suffers Heart Attack While Condemning Israel (theDeepDive)

• Disgraced George Santos Accuses Fellow Representative of Insider Trading (theDeepDive)

• U.S. and China race to shield secrets from quantum computers (Reuters)

• Trudeau Gets Push Back After Calling for Ceasefire In Israel-Hamas War (theDeepDive)

• Trudeau’s Green Slush Fund: Former Employee Alleges ‘Gross Mismanagement’ of Funds, Former Chair Walks Away from Committee (theDeepDive)

• Milei Moves to Limit Protests Against Argentina Austerity Plan (Bloomberg)

• Kevin O’Leary Has Given Up on X, Says It’s ‘A Cesspool’ (theDeepDive)

• El Salvador’s Nayib Bukele Seeks Reelection Despite Constitution Banning It (theDeepDive)

• House Speaker Greg Fergus avoids majority resignation call, asked to pay a fine, apologize again (CTV)

What’s the latest?

• Quebec Reduces Student Price Hike: Quebec's three English-language universities will implement a French-language requirement for out-of-province students starting from the 2025-26 academic year. These students will need to demonstrate a level-five oral proficiency in French by the end of their undergraduate studies. In the 2024-25 academic year, Canadian students from outside Quebec will see their tuition fees rise to a minimum of $12,000, up from the current $8,992, but lower than the initially proposed $17,000.

• Home Sales Decline: In November, Canadian home sales declined 0.9% compared to the same month last year and also decreased by 0.9% from October this year on a seasonally adjusted basis. Concurrently, new listings dropped by 1.8% month-over-month. The national average home price in November was $646,134, marking a 2% increase from November 2022.

• Manufacturing Decline: Canadian manufacturing sales declined by 2.8% in October, amounting to $71.0 billion, primarily driven by decreases in the petroleum and coal products subsector, as well as in machinery and computer and electronic product subsectors. Total sales in constant dollars, indicating the volume of goods sold, decreased by 2.2% in October.

• US Retail Sales Jump: U.S. retail sales rose unexpectedly by 0.3% in November, suggesting strong consumer resilience and potentially moderating recession fears. This increase contrasts with forecasts of a slight decline and comes amid a series of deep discounts by retailers and lower gasoline prices. The Federal Reserve, acknowledging this economic strength, held interest rates steady and indicated a potential for lower borrowing costs in 2024.

• Starbucks Union Busting: The National Labor Relations Board (NLRB) has filed a complaint against Starbucks Corp, demanding the reopening of 23 stores closed amid a union campaign. The NLRB claims these closures were unlawful, particularly targeting stores that had successfully unionized. The agency is seeking Starbucks to rehire employees, engage in negotiations with unions, and compensate affected workers.

2024 investing trends: bitcoin + gold

The stock market and stuff

• Empire Continues To Grow Margins Despite Food Inflation (theDeepDive)

• Starbucks closed 23 US stores to deter unionizing, agency claims (Reuters)

• Pembina Pipeline to Acquire Certain Enbridge Assets for $3.1 Billion (theDeepDive)

• The Arena Group CEO Ousted Following Sports Illustrated AI Scandal (theDeepDive)

• Scotiabank increasing North American focus, could exit some foreign markets (BNN)

In the juniors

• LNG Energy Sees New Well Test At Up To 2.5 MMcf/d Of Gas, 80 bbl/d Oil (theDeepDive)

• Vista Gold Announces $20 Million Royalty with Wheaton Precious Metals on Mt Todd (JMN)

• Core Assets Identifies Two Large Porphyry Targets At Silver Lime Project (theDeepDive)

FULL DISCLOSURE: First Lithium Minerals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Lithium Minerals. The author has been compensated to cover First Lithium Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.