The Inequality of Equalization | Jonathan Wellum on The Marc Patrone Show (04.20.26)

Canada's economic situation is bleak. As a nation, we seem more interested in redistributing a shrinking pie than growing ours. No surprise we have chased over $1 trillion in capital out of the country.You cannot grow productivity without investment. You cannot grow GDP without investment. And you cannot attract investment with high taxes, slow permitting, and a government that slow-walks every resource project it touches.Jonathan Wellum, CEO and CIO of Rocklinc Investment Partners, joins Marc Patrone on NewsTalk Sauga 960 to break down the numbers behind Canada's fiscal imbalance — and what it means for your portfolio.In this episode:(00:00) Rocklinc ETF Ad(00:53) Market Rebound Outlook(01:47) Valuations and Volatility Tips(04:06) War Risk and Market Mood(05:01) Ontario Becomes a Have-Not Province(06:18) Equalization Numbers Shock — $200B over 10 years, $100B+ to Quebec(09:12) If Alberta Leaves Canada — What Happens to the Dollar?(10:54) Protecting Your Portfolio From Canadian Concentration Risk(12:30) Capital Flight, Productivity, and the $1 Trillion Exit(16:03) Ontario and Trade Deal Risks — CUSMA, Auto Sector, Toyota(17:07) The Multiplier Effect of Losing Private Sector Jobs(18:33) How to Reach RocklincKey numbers discussed:$200 billion in equalization payments over the last 10 yearsOver $100 billion to Quebec aloneAlberta net negative $244 billion over 15 yearsCanada has chased $1 trillion+ in capital out of the country (RBC)Equalization payments now running at $25 billion per yearLearn more about Rocklinc Investment Partners: rocklinc.comROCKLINC Principled Equity ETF (TSX: RKLC): rocklinc.com/etfFree portfolio review: bit.ly/4anVNzdEmail: [email protected]: 905.631.5462Follow Rocklinc:X (Twitter): x.com/RocklincIPLinkedIn: linkedin.com/company/rocklinc-investment-partners-inc-Facebook: facebook.com/rocklincYouTube: youtube.com/@RockLincPartnersPlease see rocklinc.com for further information. This content is for informational purposes only.Copyright 2026 ROCKLINC Investment Partners Inc. All rights reserved.