We Must Not Abandon Capitalism For Socialism | Jonathan Wellum

September 22, 2026

AI Summary

5 min read

In the 20th century, somewhere between eighty and a hundred million people died in communist countries. That stark figure, offered by Jonathan Wellum early in the conversation, is not a rhetorical flourish but the anchor for his entire worldview. For Wellum, the CEO of Rockhaven Investment Partners, the difference between a system that works and one that kills on a mass scale comes down to a single question: who holds power, and how is it distributed? In a wide-ranging discussion with Adam Taggart on Thoughtful Money, Wellum applies this lens to US-Canada trade friction, the promise of a Western Hemisphere trading bloc, the crisis in Canadian healthcare, and the investing strategy he uses to navigate it all.

The Tariff Theater and the Real North American Opportunity

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What you'll learn

1 (01:04) **Why Collectivism Fails** - Jonathan opens with a stark historical warning about communist regimes, framing the entire conversation around the dangers of top-down power.
2 (03:12) **Potash, Tariffs, and U.S.-Canada Tensions** - The discussion begins with a specific trade issue before broadening into the overall relationship between the two countries.
3 (09:14) **The Opportunity of a "United Americas" Trading Bloc** - Adam introduces the concept of a Western Hemisphere trading bloc for resilience and security, moving away from hyper-efficient but fragile global supply chains.
4 (13:15) **Canada's Internal Political Bifurcation** - The conversation shifts to domestic Canadian sentiment, revealing a deep split between those happy with the status quo and those demanding change.
5 (15:06) **Top-Down Investment vs. Free Markets** - A key distinction is made between crony capitalism and true free-market capitalism, using Canada's current investment strategy as a case study.
6 (16:11) **The Core Thesis: Don't Abandon Capitalism for Socialism** - Adam states his personal bias, arguing that the historical evidence is clear that socialism fails, and the solution is to fix capitalism's flaws, not replace it.
7 (19:51) **The Strategic Importance of the Arctic** - The discussion returns to geopolitics, focusing on the Arctic's growing importance and Canada's inability to defend it.

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Guests on this episode

Adam Taggart

Show Notes

LOCK IN YOUR EARLY BIRD PRICE DISCOUNT FOR THOUGHTFUL MONEY'S FALL ONLINE CONFERENCE (OCT 17TH) at https://www.thoughtfulmoney.com/conferenceMore & more Western voters are feeling the pull towards socialist -- even downright communist -- candidates today.History clearly warns this is a fatal path to go down.In today's discussion with Jonathan Wellum, founder of Canadian financial advisory firm ROCKLINC Investment partners, we discuss the importance of fighting to repair capitalism vs abandoning it for models with a know 100% failure rate.#capitalism #socialism #democraticsocialism _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance.All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video.Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/disclosureThoughtful Money Agreement: https://thoughtfulmoney.com/agreementIMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.