How Canada Lost its Own Identity

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Canada just had its worst Winter Olympics in over 20 years. Both hockey teams lost gold in overtime. The bobsled team got shut out for the first time in 24 years. The country finished 8th in total medals.

But this is not a hockey story. This is a story about what happens when a country with more natural resource wealth than almost anywhere on earth chooses to spend it all instead of saving it. Norway, a country one-seventh Canada's size, built a $2.2 trillion sovereign wealth fund and the greatest winter sports system in Olympic history. Alberta created its savings fund 14 years earlier, and today it is worth 80x less.

We trace how hockey went from Canada's defining sport to a $5,000/year luxury that excludes nearly half the population. How youth registration dropped 35% in 14 years. How Canada spends $8 per citizen on sport while France spends $950. How the country's Olympic athletes live below the poverty line while the government allocates zero new funding. How outdoor rinks are melting, indoor arenas are crumbling, and the Calgary bobsled track was just demolished. And how Norway's model, built on the same resource wealth Canada squandered, shows exactly what was possible.

00:00 - Intro
01:29 - The Price Tag
06:12 - Pay to Play
10:42 - The Identity Problem
13:17 - The Norwegian Answer

Includes music by Tom Fox – tomfox.site