The Munk Debates Podcast

The U.S. and Iran are locked in a long-term stalemate over the Strait of Hormuz. With the midterms looming, the Iranians view the next few weeks as the window of maximum leverage. If the strait stays closed into the summer months people will start to feel the pain in a very real way that could tip into a global recession. The consequences of this high stakes game of poker are getting much more serious as both parties are digging in. Who blinks first? In the second half of the show Rudyard and Janice turn to Mythos, a new AI model from Anthropic which allows users to find and exploit vulnerabilities in major operating systems. This new software will give malignant actors access to private information that could cripple our financial institutions. We did not learn our lesson from social media and the laissez faire attitude we have taken towards AI will lead to a very real and dangerous Y2K moment.
Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

Mark Carney has proposed a “Canada Strong Fund” which will launch with a C$25 billion endowment focused on domestic infrastructure, part of a broader effort to reduce Canada’s reliance on the United States after tariffs have strained the economy. Canadians would also be able to invest their own savings in the fund. But with productivity declining for decades, it’s unclear how this initiative meaningfully addresses the country’s deeper growth challenges. At a moment of real urgency, the question remains whether this represents a serious step toward fixing Canada’s underlying economic problems.

Rudyard and Janice open the show with news of the Spring 2026 Munk mainstage debate: Be it resolved, don't go hunting monsters. A timely debate on competing interventionist and restraint-based approaches to foreign policy now contending for dominance in the halls of power. Rudyard and Janice move on to the Iran war and the shaky ceasefire that Trump has extended despite Iran's attacks on vessels in the Strait of Hormuz. With the Strait now closed, this has become an economic war and an endurance test: which country can withstand the pain longer? This is the single largest energy shock the modern world has ever seen that will bring about significant inflation. How will inflation further radicalize populist movements and destabilize governments around the globe? In the back half of the show Rudyard and Janice turn to upcoming trade talks between Canada and the US. PM Carney is warning Canadians that there is a bumpy road ahead and concessions will need to be made that will likely yield a scaled down agreement with a narrower scope. Rudyard suggests that despite Trump's animosity towards our country, Canadians would be wise to accept that our economic interest lies in a better trade relationship with the U.S. over diversification overseas. Carney should consider delaying any concessions until the midterms and restart negotiations in November with a politically weakened president.

Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

The historic Israel-Lebanon ceasefire announced this week is the result of a direct conversation between the President of Lebanon and the Prime Minister of Israel. And yet, this deal was brokered by the U.S. against the wishes of Bibi Netanyahu as it has impeded Israel's ability to push Hezbollah back from its border. Coupled with the halting of the Iran war - and being excluded from that negotiating table - the events of the past few weeks have resulted in a political and strategic defeat for Israel. What effect will this have on Netanyahu’s standing ahead of the next election in Israel? And are these unfavourable outcomes the result of growing daylight between Washington and Jerusalem? In the second half of the show Rudyard and Janice turn to Canadian domestic politics and the Liberals securing a majority rule via floor crossings and by-elections. Why are we seeing an unprecedented exodus of MPs to the Liberals? Is there something more going on behind the scenes? And how will this growing collapse of party loyalty and the bonds of party affiliation weaken our democracy?
Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

Thanks to recent floor crossings and last night's by-election, the Liberal Party now has a majority government and a 15 point favourability lead that has unnerved and divided the Conservatives. Should MPs be able to cross the floor at their will? Andrew argues that public officials crossing over from the opposition to the governing body should seek permission from their constituents. What is the fate and future of the NDP and Conservatives in this new political environment? Meanwhile the Liberals now have time to rebuild the party and Mark Carney, with the confidence of the country, has the latitude to decide what direction he wants to go in. Will the PM use this new majority and political capital to finally address Canada's major crises - productivity, overregulation, lack of competition - that past leaders chose to ignore?