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Miville Tremblay

@miville.bsky.social
2K followers 445 following 159 posts

Fellow invité CIRANO, ex central banker, ex financial reporter, regular op-ed contributor in La Presse and Sage Substack. www.linkedin.com/in/miville-trembla…

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Reposted by Miville Tremblay
Economic thought @economicthought.bsky.social · 22/09/2026
Podcast: a new episode of Smith and Marx Walk Into a Bar is now available. It features Professor Maxime Desmarais-Tremblay (University of Lorraine) discussing his work on the intersection of economic methodology and the history of economic thought. hetpodcast.libsyn.com/episode-103-...
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Miville Tremblay @miville.bsky.social · 17/09/2026
AI models tested at OpenAI plotted, broke out, and hacked Hugging Face to steal answers they couldn't work out. The genie isn't going back in the bottle. The question is who holds the leash — and for now, the ones holding it are the ones wearing it.
substack.com
Who Will Hold AI’s Leash? For Now, the Ones Wearing It.
Miville Tremblay has over 35 years of experience in economics and finance, including at the Bank of Canada and La Caisse.
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Miville Tremblay @miville.bsky.social · 17/09/2026
Une règlementation de l’IA s’impose, mais les techs bros n’en parlent que du bout des lèvres, tandis que Trump s’y oppose dans presque tous les cas. Il faut un régulateur avec des dents, mais c’est politiquement compliqué.
plus.lapresse.ca
Course à la superintelligence | L’important, c’est qui tient la laisse
Si je demande une tasse de café, un adjoint ira acheter la Colombie, se serait vanté dans les années 1970 Harold Geneen, PDG d’ITT, alors le plus grand conglomérat du monde, qui a avalé 350 entreprise...
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Miville Tremblay @miville.bsky.social · 14/09/2026
Les zinvestisseurs zinstitutionnels - les zinzins - viennent visiter le verger canadien des projets d’investissement, dont beaucoup de fruits ont besoin de mûrir.
plus.lapresse.ca
Sommet canadien de l’investissement | Les zinzins débarquent
À l’invitation de Mark Carney, les grands zinzins du monde arrivent à Toronto pour identifier des occasions d’investir au Canada, qui ne sont peut-être pas encore mûres à leur goût.
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Miville Tremblay @miville.bsky.social · 14/09/2026
An interview I gave to the BBC, with others.
bbc.com
How Carney plans to sell Canada to the world's biggest investors
In the midst of a trade war with the US, the prime minister leveraged his connections in global finance to invite some of the world's biggest investors to Canada.
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Miville Tremblay @miville.bsky.social · 13/09/2026
The Orchard Visit Ottawa wants $500 billion in private investment. The organizers of this week's summit are not expecting many announcements. My piece in Sage.
sagecanada.substack.com
The Orchard Visit
The Canada Investment Summit opens in Toronto on Monday. Most of what Canada has to show is not yet ripe.
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Miville Tremblay @miville.bsky.social · 04/09/2026
Le Canada a bâti son industrie sur la présomption d'un accès au marché américain. Cette présomption vient de mourir — et un président démocrate ne la ressuscitera pas.
lapresse.ca
Guerre commerciale | Courage, lui dit sa mère
Courage, lui dit sa mère. Et sa mère avait raison. Nous aurons besoin de nous répéter cet encouragement, souvenir d’une pièce de Bertolt Brecht vue il y a longtemps, pour affronter l’agression du prés...
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Reposted by Miville Tremblay
The Atlantic @theatlantic.com · 02/09/2026
All of the dizzying AI-enabled disorientations of today add up to something bigger: Whatever the AI future is, we’re in it right now, @matteowong.bsky.social and @cwarzel.bsky.social argue:
bit.ly
A Technological Reckoning With No Great Answers
Whatever the AI future is, we’re in it right now.
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Miville Tremblay @miville.bsky.social · 19/08/2026
Ma 100e chronique dans La Presse. Le deuxième choc pose un dilemme au Canada : s’intégrer à la Forteresse Amérique du Nord, en se soumettant aux diktats américains, ou s’allier à l’Europe et aux pays asiatiques, qui résistent tant bien que mal aux deux superpuissances ?
plus.lapresse.ca
Production industrielle | Le tapis roulant de Pékin
Sur la vente d’une voiture de 20 800 $, on ne tire qu’un maigre profit de 312 $, déplorait récemment Chen Shihua, secrétaire général adjoint de l’Association des constructeurs automobiles chinois, cit...
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Miville Tremblay @miville.bsky.social · 13/08/2026
Each local government has subsidized the same sectors. 169 car manufacturers fight so hard that, on a $20 800 car, the profit is only $312 - the price of a tire. It has huge consequences for the world and for Canada's industrial strategy. Read my piece in Sage.
sagecanada.substack.com
The Beijing Treadmill
China has a word for running faster and faster to stay in the same place. Canada’s industrial strategy could earn it.
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Miville Tremblay @miville.bsky.social · 22/07/2026
The abatement category for the CDN taxonomy is politically skilful: it protects the transition category from the oil and gas lobby, that otherwise would try to squeeze in. Since it will be dicey to implement with the Alberta pipeline deal, it deserves closer scrutiny.
open.substack.com
The Fifty Shades of Grey in Canada’s Taxonomy
Miville Tremblay has over 35 years experience in economics and finance, including at the Bank of Canada and La Caisse.
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Miville Tremblay @miville.bsky.social · 10/07/2026
The great promise of the post-war era was that growth and fairness could advance together. It's breaking down (...) because the nature of growth has changed. The knowledge economy that is generating extraordinary growth requires fewer people to create it and concentrates its rewards in fewer hands.
open.substack.com
When Efficiency Eclipses Equality
John Hancock
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Miville Tremblay @miville.bsky.social · 30/06/2026
Even if there is no fiscal emergency, growth alone is unlikely to bring us back into the green zone of prudence. To invest in our infrastructure, strengthen our defence and preserve our social safety net, we will need a courageous plan: trimming lower-priority spending and raising revenues.
open.substack.com
Long-Term Interest Rates Flash a Big Yellow Light
Miville Tremblay has over 35 years experience in economics and finance, including at the Bank of Canada and La Caisse.
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Reposted by Miville Tremblay
Peter Baker @peterbakernyt.bsky.social · 27/06/2026
The average life expectancy of a new Russian recruit—from arrival at a training ground to death in a combat zone—lies somewhere between 10 days and three weeks. Once sent onto the battlefield, they survive an average of 20 to 35 minutes. @peterfrankopan.bsky.social foreignpolicy.com/2026/06/25/r...
foreignpolicy.com
As the Tide Turns Against Putin, Beware the Drowning Man
Like a struggling swimmer, he may take desperate measures to stay afloat.
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Miville Tremblay @miville.bsky.social · 23/06/2026
La montée des taux d’intérêt à long terme dans le monde allume un feu jaune, signe qu’une combinaison d’inflation, d’endettement public et de risque politique pourrait provoquer un sérieux accident, si l’on n’y prend pas garde.
plus.lapresse.ca
Taux d’intérêt | Le feu jaune des taux longs
La montée des taux d’intérêt à long terme dans le monde allume un feu jaune, signe qu’une combinaison d’inflation, d’endettement public et de risque politique pourrait provoquer un sérieux accident, s...
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Reposted by Miville Tremblay
Politico @politico.com · 22/06/2026
This week's POLITICO Magazine cover story: How Mark Carney mastered the ugly art of Canadian politics. The Canadian PM's first year in office has transformed him into a ruthless — and effective — party boss. 🔗 politi.co/4uL9lNG 📷 Markian Lozowchuk/Redux Also in this issue 🧵👇
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Miville Tremblay @miville.bsky.social · 21/06/2026
I had the pleasure to discuss the G7 meeting with two former Deputy Minister of Foreign Affairs, Senator Peter Harder and Marta Morgan, in a podcast hosted by Allan Gregg, a former pollster. We’re part of a group of not that old policy wonks that share its wisdom for free on the Sage Substack.
open.substack.com
Sage Podcast: Trump Got Managed. China Got Warned. Ukraine Got Respected. AI Got Too Big to Ignore
The G7 was built for a different world, but this year’s gathering showed it’s far from dead yet.
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Reposted by Miville Tremblay
Canadian Climate Institute @climateinstitute.bsky.social · 17/06/2026
⚡ NEW REPORT⚡ Clean power can give Canada a competitive edge in the global race for investment in major industrial projects—but only if the country transforms how it plans and builds its electricity systems. ⬇️🧵 climateinstitute.ca/reports/powe...
climateinstitute.ca
Powering industrial growth with clean electricity grids
Power Play points to four areas the federal government can take action on to help Canada gain competitive advantage in the race for ...
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Miville Tremblay @miville.bsky.social · 15/06/2026
The “electricity fairy,” which dazzled visitors at the 1900 Paris World’s Fair, still holds the power to counter global warming. Decarbonizing the economy, after all, requires electrifying it at scale.
open.substack.com
The Electricity Fairy Can Still Save the World
Carney’s new climate bargain: more electricity, more growth — and one very uncomfortable pipeline.
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Reposted by Miville Tremblay
Akshat Rathi @akshatrathi.bsky.social · 04/06/2026
What happens when energy security is threatened? In the 2020s, it means speeding up deployment of renewables and electric devices. 🎁🔗 www.bloomberg.com/graphics/202...
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Reposted by Miville Tremblay
Max Fawcett @maxfawcett.bsky.social · 02/06/2026
With Steven Guilbeault leaving the Liberal Party, the Justin Trudeau era is officially over. We should probably leave its climate politics in the past as well — and embrace something more effective. #cdnpoli www.nationalobserver.com/2026/06/02/o...
nationalobserver.com
With Guilbeault gone, the Justin Trudeau era is now officially over
Steven Guilbeault's resignation from the Liberal caucus marks the end of a certain approach to doing climate politics. That's not necessarily a bad thing, either.
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Reposted by Miville Tremblay
Jared Wesley @jaredwesley.ca · 23/05/2026
"Danielle Smith's latest move — a referendum on whether to have another referendum — amounts to less of a detour than a reduced speed zone. It doesn't stop or change the direction of traffic. If anything, it gives separatists another set of advantages." My latest. open.substack.com/pub/drjaredw...
open.substack.com
This is Danielle Smith's referendum.
It's her vote to lose. And ours to win.
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Miville Tremblay @miville.bsky.social · 07/05/2026
The Three-Body Problem states that you cannot predict the future when geopolitics, climate and AI influence each other, as they do. A complex challenge for Canada. Suscribe to Sage on Substack for expert policy analysis; it’s free!
open.substack.com
The Three-Body Problem: Geopolitics, Climate Change and AI
Miville Tremblay has over 35 years of experience in economics and finance, including at the Bank of Canada and CPA.
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Reposted by Miville Tremblay
Aaron Rupar @atrupar.com · 10/04/2026
Buttigieg: "For the leader of this country to make a nakedly genocidal threat against another civilization as if the US was a death star that was going around blowing up civilizations, of course that is a new low ... the whole country is being judged just for tolerating that kind of thing at the WH"
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Martin Coiteux @martin-coiteux.bsky.social · 05/04/2026
La normalité perdue martincoiteux.com/2026/04/05/l...
martincoiteux.com
La normalité perdue
C’est quoi un pays normal? Voilà peut-être une étrange question. S’il est une chose que la vie finit par nous apprendre, c’est à quel point il est difficile de faire entrer les personnes et les sit…
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Reposted by Miville Tremblay
Canadian Climate Institute @climateinstitute.bsky.social · 19/03/2026
Electric vehicles helped avoid 2.3 million barrels per day in global oil demand last year, according to BloombergNEF. That number is projected to increase to 5.25 million barrels by 2030. ⚡📉 www.bloomberg.com/news/article...
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Max Fawcett @maxfawcett.bsky.social · 10/03/2026
My latest newsletter: the deadline for a deal between Ottawa and Alberta on industrial carbon pricing is just weeks away. The oil and gas companies and their political proxies are already trying to tilt the table in their direction — and fudge the facts. www.nationalobserver.com/newsletters/...
nationalobserver.com
The oil companies are lying again
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Reposted by Miville Tremblay
Financial Times @financialtimes.com · 02/03/2026
Opinion: In moments of extreme uncertainty, investors usually rush to the safety of US government bonds. But not this time. ft.trib.al/oguIqBN
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Max Fawcett @maxfawcett.bsky.social · 20/02/2026
My latest: because one national unity crisis wasn't enough, Danielle Smith has decided to provoke another one —all, of course, in the name of placating the separatists that run her party. www.nationalobserver.com/2026/02/20/o...
nationalobserver.com
Danielle Smith keeps feeding the beast
If there’s a Pandora’s Box that Alberta's premier hasn’t opened yet, it’s not for a lack of trying.
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Miville Tremblay @miville.bsky.social · 18/02/2026
Mounted on the back of the American tiger, Carney must deliver on his three prongs strategy without being eaten alive, and us along with him. My first contribution to the Sage Substack, published by senior Canadian policy experts. Subscribe to Sage; it’s free. open.substack.com/pub/sagecana...
open.substack.com
The fangs of the American tiger
By Miville Tremblay
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Miville Tremblay @miville.bsky.social · 17/02/2026
The Munich Conference showed the enshittification of American power.
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Miville Tremblay @miville.bsky.social · 17/02/2026
plus.lapresse.ca/screens/a705... Carney est monté sur le dos du tigre à Davos. Il doit maintenant maintenant éviter d’être dévoré (et nous avec!) dans l’exécution périlleuse des trois axes de son plan.
plus.lapresse.ca
Relations Canada–États-Unis | Les crocs du tigre américain
« Une fois monté sur le tigre, il est difficile d’en descendre », enseigne un proverbe chinois. Sans se faire dévorer, il va sans dire.
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Reposted by Miville Tremblay
Max Boot @maxboot.bsky.social · 09/02/2026
Trump has imposed sanctions on 8 ICC judges and 3 prosecutors. “The sanctioned ICC staff,” Reuters noted, “now sit on the U.S. Treasury Department’s Specially Designated Nationals list, alongside suspected al Qaeda terrorists, Mexican drug traffickers and North Korean arms dealers.” wapo.st/3MsWi3c
wapo.st
Opinion | Trump has a strongman’s contempt for international law
The president’s indifference to domestic legal constraints is reflected in his actions outside the U.S.
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Martin Coiteux @martin-coiteux.bsky.social · 24/01/2026
Pourquoi Friedman n’est pas mon mentor intellectuel martincoiteux.com/2026/01/23/p...
martincoiteux.com
Pourquoi Friedman n’est pas mon mentor intellectuel
Photo by Boys in Bristol Photography on Pexels.com À l’époque où j’étais au doctorat, je me souviens d’avoir eu une conversation avec un collègue au sujet du Chili. Le général Augusto Pinochet avai…
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Daniel Thibault @danielthibault.bsky.social · 23/01/2026
Et si les Américains tentent la même manoeuvre avec le Québec, les Péquistes applaudiront-ils? Tout laisse croire que oui. Je suis souverainiste. Mais les temps changent. À ce moment de l'histoire, comment un Québec souverain pourrait-il résister aux assauts impérialistes de nos voisins débridés?
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Miville Tremblay @miville.bsky.social · 21/01/2026
La stabilité du système financier est à risque si la commercialisation de l’IA progresse plus lentement qu’anticipé par la poussée fulgurante des actions. Une correction brutale pourrait entraîner le marché du crédit privé, lui aussi très étiré.
plus.lapresse.ca
L’IA, entre miracle et mirage
On dirait de l’argent de Monopoly, tellement les sommes sont faramineuses. Les investissements dans l’IA sont à la mesure du miracle espéré, mais au risque d’un mirage éloigné.
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Mark Carney @mark-carney.bsky.social · 20/01/2026
À une époque marquée par la rivalité entre les grandes puissances, le Canada choisit d'être pragmatique et fidèle à ses principes. Il choisit de nommer la réalité, d'agir en collaboration et de bâtir ce en quoi nous affirmons croire.
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Rebecca Solnit @rebeccasolnit.bsky.social · 18/01/2026
Córy Doctorow with another verbal bullseye: pluralistic.net/2026/01/13/n...
I'm sorry. As a technology writer, I'm supposed to be telling you that this bet will some day pay off, because one day we will have shoveled so many words into the word-guessing program that it wakes up and learns how to actually do the jobs it is failing spectacularly at today. This is a proposition akin to the idea that if we keep breeding horses to run faster and faster, one of them will give birth to a locomotive. Humans possess intelligence, and machines do not. The difference between a human and a word-guessing program isn't how many words the human knows.

I'm sorry. I know that when we talk about "digital sovereignty," we're obliged to talk about how we can build more data-centres that we can fill up with money-losing chips from American silicon monopolists in the hopes of destroying as many jobs as possible while blowing through our clean energy goals and enshittifying as much of our potable water as possible.
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Gerald Butts @gmbutts.bsky.social · 05/01/2026
This our 20th annual #TopRisks report at Eurasia Group. It is a bumper crop in 2026 — the most complex and potentially consequential risk environment in memory. It informs leaders around the world in every sector. We hope it helps you make sense of things. www.eurasiagroup.net/issues/Top-R...
eurasiagroup.net
Eurasia Group | The Top Risks of 2026
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Dave Kaufman @davekaufman.bsky.social · 03/01/2026
If Canada was the 51st State this would be our Vichy Gov’s official statement:
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David Coletto @davidcoletto.bsky.social · 29/12/2025
Mark Carney will not stumble because he lacks intelligence or seriousness. He risks stumbling if he grows impatient with the need to explain himself to the public and earn permission in plain language. My latest: open.substack.com/pub/davidco...
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Miville Tremblay @miville.bsky.social · 22/12/2025
L’économie canadienne a évité le pire en 2025, mais devra faire des concessions unilatérales en 2026 lors de la révision de l’ACEUM.
plus.lapresse.ca
La grande frousse
Malgré la grande frousse provoquée par l’anarchie tarifaire du président Donald Trump, l’économie canadienne ne s’en tire pas si mal jusqu’à présent. Mais allez-y mollo sur le champagne au jour de l’A...
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Jared Wesley @jaredwesley.ca · 07/12/2025
Use your memberships and money. Join organizations that defend democratic norms. Cancel business with those that openly attack them. Even small donations to local media, NGOs, and community groups matter. Subscribe to news organizations that are investigating the backsliding.
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The Economist @economist.com · 02/12/2025
“The international system has been ruptured,” writes the Canadian prime minister. In a guest essay for The World Ahead, he outlines why purpose-built alliances will proliferate in 2026 econ.st/4ap4hYB Illustration: Iris Legendre
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Miville Tremblay @miville.bsky.social · 28/11/2025
🤞Hope @maxfawcett.bsky.social is right!
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Miville Tremblay @miville.bsky.social · 04/11/2025
Climate expert view on federal budget: steps in the right direction, but details will matter.
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Simon Jodoin @simonjodoin.ca · 02/11/2025
Sur les élections municipales, une pensée m'habite. Une piste cyclable, ce n'est pas de gauche. C'est le fun. Vouloir démanteler une piste cyclable, ce n'est pas de droite. C'est épais. Voilà. Utilisons le bon lexique, ça nous économisera des soucis inutiles.
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Akshat Rathi @akshatrathi.bsky.social · 01/11/2025
Do not miss this stunning investigation that reveals how a Koch-funded machine and Silicon Valley's new found interest is behind the dangerous advanced nuclear hype in the US. 🎁🔗 www.bloomberg.com/news/feature...
bloomberg.com
The Risky Movement to Make America Nuclear Again
A Silicon Valley startup called Oklo is leading the charge to bring nuclear power back to the US with small reactors. Its backers have wealth and political connections that could undermine nuclear saf...
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richardhetu.bsky.social @richardhetu.bsky.social · 14/10/2025
Les jeunes républicains, encore plus racistes que leurs aînés ? richardhetu.com/2025/10/14/l...
richardhetu.com
Les jeunes républicains, encore plus racistes que leurs aînés ?
Les jeunes républicains sont peut-être encore plus racistes que leurs aînés. C’est du moins ce qu’on peut penser en prenant connaissance d’un article du site d’information P…
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