Kevin Carmichael
@kevincarmichael.bsky.social
Economics Columnist, The Logic
Canadians ought to be observing Trump's attacks on the Fed with a mix of dismay and relief. Imagine if we had two strongman leaders attempting to fire central bankers at the same time? My latest:
Carmichael: There's upside for Canada in Trump's attack on the Fed - The Logic
The U.S. president's penchant for self-harm offers opportunity for stable democracies—if their leaders don't waste it
thelogic.co
September 2, 2025 at 1:14 PM
Canadians ought to be observing Trump's attacks on the Fed with a mix of dismay and relief. Imagine if we had two strongman leaders attempting to fire central bankers at the same time? My latest:
My latest is on the danger of binary thinking.
Carmichael: Mark Carney has to play Trump like a chess master, not a hockey player settling scores - The Logic
Carney must deal with a U.S. president who plays by the rules of professional wrestling, where narrative arcs decide outcomes.
thelogic.co
August 27, 2025 at 1:33 PM
My latest is on the danger of binary thinking.
There are two stories unfolding in Canada's hiring numbers. One is resilience. There other, sacrifice. My latest: thelogic.co/comment/carm...
Carmichael: Canada's young workers are getting crushed - The Logic
Youth and long-term unemployment are at a near 30-year peak. Those scars won’t heal easily.
thelogic.co
August 11, 2025 at 8:06 PM
There are two stories unfolding in Canada's hiring numbers. One is resilience. There other, sacrifice. My latest: thelogic.co/comment/carm...
Climate change is being crowded out of the conversation. We might need to learn to cope with more than one existential threat at a time. My latest: thelogic.co/comment/carm...
Carmichael: We don’t have time for a climate finance slowdown - The Logic
The politics have gotten more complicated, but the threat of climate change still makes everything else seem small.
thelogic.co
June 23, 2025 at 12:35 PM
Climate change is being crowded out of the conversation. We might need to learn to cope with more than one existential threat at a time. My latest: thelogic.co/comment/carm...
The Logic went west last week to talk about the productivity crisis. In Calgary, the conversation was dominated by politics. It wasn't a waste. Productivity and politics are inextricably linked. My latest:
Carmichael: Carney can’t fix Canada without mending ties with Alberta - The Logic
The country’s stagnant productivity might confound economists and decision-makers because they spend too little time thinking about the dynamics of power
thelogic.co
May 22, 2025 at 3:27 PM
The Logic went west last week to talk about the productivity crisis. In Calgary, the conversation was dominated by politics. It wasn't a waste. Productivity and politics are inextricably linked. My latest:
Canada's economic immune system is weak. That means the next few years will be hard. But there's a newfound resolve to get in shape and that's kind of exciting. My latest:
Carmichael: What Mark Carney must do next - The Logic
The hard times have already begun. There isn’t a moment to waste
thelogic.co
May 5, 2025 at 1:26 PM
Canada's economic immune system is weak. That means the next few years will be hard. But there's a newfound resolve to get in shape and that's kind of exciting. My latest:
Expertise mounts a comeback. My latest: thelogic.co/comment/carm...
Carmichael: Mark Carney’s win shows anti-elitism has its limits - The Logic
With Canada under threat, most of its voters rushed to back the candidate with the flashiest CV.
thelogic.co
April 30, 2025 at 1:31 PM
Expertise mounts a comeback. My latest: thelogic.co/comment/carm...
I've been receiving angry emails about this one. Please read beyond the headline.
Kevin Carmichael: Canada is alone. It has only itself to blame - The Logic
This country has long gotten a free ride. The rest of the world has noticed.
thelogic.co
April 28, 2025 at 12:38 PM
I've been receiving angry emails about this one. Please read beyond the headline.
Why solving the Canadian economy's productivity crisis starts with home building. My latest: thelogic.co/news/special...
Canada can’t fix its productivity crisis without fixing housing first - The Logic
The construction industry accounts for about seven per cent of Canada’s GDP. It might also be the country’s least productive industry.
thelogic.co
April 22, 2025 at 12:51 PM
Why solving the Canadian economy's productivity crisis starts with home building. My latest: thelogic.co/news/special...
What's scarier than tariffs? My latest:
Carmichael: The ‘Liberation Day’ fallout has seized the Bank of Canada’s attention - The Logic
If the U.S. dollar stops being the world’s reserve currency, the ripples will be felt everywhere
thelogic.co
April 21, 2025 at 1:10 PM
What's scarier than tariffs? My latest:
My take on the latest from the Bank of Canada:
Bank of Canada holds key interest rate steady at 2.75% - The Logic
Trump’s aggressive trade moves could cause recession, Macklem warns
thelogic.co
April 16, 2025 at 2:12 PM
My take on the latest from the Bank of Canada:
Emergency column on the Great Repricing. Enjoy the relief rallies, but don't get drunk on them. The adjustment is going to hurt, pretty sure.
Carmichael: The Trump shock marks the end of global finance as we’ve known it - The Logic
The world will adjust, but the commercial relationships that have created much of the world’s wealth are over.
thelogic.co
April 10, 2025 at 10:24 PM
Emergency column on the Great Repricing. Enjoy the relief rallies, but don't get drunk on them. The adjustment is going to hurt, pretty sure.
How to get over in the age of Trump. My latest:
Carmichael: Economics can’t explain Trump. Professional wrestling can - The Logic
Like the WWE, the U.S. president is a master of directing the power of the crowd.
thelogic.co
April 7, 2025 at 12:17 PM
How to get over in the age of Trump. My latest:
The stakes have rarely been higher. The promises in Canada's election campaign, so far, don't meet the moment. My latest:
Carmichael: Carney and Poilievre's tax-cut promises are a major election distraction - The Logic
The cost of living is an issue, but it's no longer a crisis. Canadians must remain focused on the real emergency.
thelogic.co
March 31, 2025 at 12:37 PM
The stakes have rarely been higher. The promises in Canada's election campaign, so far, don't meet the moment. My latest:
It's the uncertainty, stupid. My latest:
Carmichael: The looming election plunges Canada’s businesses deeper into uncertainty - The Logic
thelogic.co
March 24, 2025 at 12:20 PM
It's the uncertainty, stupid. My latest:
In lieu of a unity government, there's a way Mark Carney and Pierre Poilievre could start work on fixing the economy immediately. My latest:
Carmichael: In the battle of Carney and Poilievre, there's more at stake than who wins - The Logic
Canadian society has begun to corrode. Rebuilding trust will be a key part of rebuilding the economy.
thelogic.co
March 17, 2025 at 1:04 PM
In lieu of a unity government, there's a way Mark Carney and Pierre Poilievre could start work on fixing the economy immediately. My latest:
No Canadian central bank governor has had to make more consequential decisions than Tiff Macklem. They keep getting harder. My latest: thelogic.co/comment/kevi...
Carmichael: The Bank of Canada’s interest rate decision just got a lot more complicated - The Logic
The trade war could throw a wrench into the central bank’s plans
thelogic.co
March 10, 2025 at 1:06 PM
No Canadian central bank governor has had to make more consequential decisions than Tiff Macklem. They keep getting harder. My latest: thelogic.co/comment/kevi...
Perhaps the most shocking event of the past 24 hours.
StatsCan reports a big jump in productivity in Q4, and the revised data for over the past year puts productivity in the positive after years of gloomy data.
This is going to shock/thrill @kevincarmichael.bsky.social.
This is going to shock/thrill @kevincarmichael.bsky.social.
March 5, 2025 at 2:20 PM
Perhaps the most shocking event of the past 24 hours.
Life is about to get a little difficult for Canada. Maybe that's just what we needed. My latest: thelogic.co/comment/kevi...
Carmichael: To survive Trump, Canada needs to rebuild its east-west ties - The Logic
U.S. trade agreements have made Canada richer, but less reliant on ourselves. That needs to change.
thelogic.co
March 5, 2025 at 2:16 PM
Life is about to get a little difficult for Canada. Maybe that's just what we needed. My latest: thelogic.co/comment/kevi...
Canada's governments are putting their bazookas on the table. Hope those things come with guidance systems. My latest:
Carmichael: Canada's premiers are ready to splash the cash to survive a trade war - The Logic
Nobody’s in the mood for austerity this budget season.
thelogic.co
March 3, 2025 at 2:10 PM
Canada's governments are putting their bazookas on the table. Hope those things come with guidance systems. My latest:
On Canada's housing crisis. My latest:
Carmichael: We have a chance to be bold on housing. Let’s get creative - The Logic
Maybe it’s time to rethink the economic model that’s created one of Canada’s biggest problems.
thelogic.co
February 24, 2025 at 2:28 PM
On Canada's housing crisis. My latest:
The Bank of Canada won't be coming to the rescue this time. My latest:
Carmichael: There’s no easy way to fight inflation in a trade war - The Logic
Don’t expect the Bank of Canada or the country’s CEOs to ride to the rescue, either
thelogic.co
February 19, 2025 at 2:10 PM
The Bank of Canada won't be coming to the rescue this time. My latest:
In professional wrestling, "jobbers" are there to make the stars look good. But sometimes, when they perform their roles exceptionally well, the stars lose control of the narrative and the audience sides with the jobbers. My latest:
Carmichael: Trump defies the laws of economics because he doesn’t believe in them - The Logic
In early January, when Donald Trump was building his chaos machine like a child with a Meccano set, Canadian venture investor Chris Neumann noticed the then president-elect was choosing some unusual p...
thelogic.co
February 10, 2025 at 2:01 PM
In professional wrestling, "jobbers" are there to make the stars look good. But sometimes, when they perform their roles exceptionally well, the stars lose control of the narrative and the audience sides with the jobbers. My latest:
How to win a trade war. My latest:
Carmichael: Canada still faces a crisis. We can’t afford to waste it - The Logic
Our prospects depend on our leaders abandoning business as usual
thelogic.co
February 4, 2025 at 7:01 PM
How to win a trade war. My latest:
My take on the latest from the Bank of Canada: thelogic.co/news/bank-of...
The Bank of Canada cuts its key interest rate as tariffs loom - The Logic
Quarter-point cut comes with a warning that a trade war would test the ‘resilience of Canada’s economy’
thelogic.co
January 29, 2025 at 3:05 PM
My take on the latest from the Bank of Canada: thelogic.co/news/bank-of...