In 1959, Michaud received a Canada Council grant to study journalism in France at the Université de Strasbourg. He then began a career as a journalist for the Clairon in Saint-Hyacinthe. He was later chief editor of La Patrie and also had a chronicle for the magazine 7 jours.
Member of the legislature
He joined the ranks of the Liberal Party of Quebec and was elected in the Gouin riding in the 1966 provincial election, which the Liberals lost. He became friends with fellow Liberals René Lévesque and Robert Bourassa, who would both later become Premiers of Quebec. In 1969, Michaud left the Liberal Party and sat as an Independent to protest against the passage of Bill 63, a controversial language legislation. He ran for re-election as a Liberal candidate in the 1970 election, but was defeated by 12 votes by Parti Québécois candidate Guy Joron.
Often called Robin des banques, Yves Michaud is known by the people of Quebec for his crusade against the practices of large corporations. In 1993, he founded the Association des petits épargnants et investisseurs du Québec, and won a number of victories in court.
In December 2000 Yves Michaud announced that he would seek the Parti Québécois nomination for a by-election in the district of Mercier. However, his candidacy was plagued with controversy, after he made sensitive comments about the Jewish community in a radio interview. One recollection of his comments, amongst other things, was that he stated that the Jewish people had suffered, but that other peoples had also endured great tragedies. However, as the affair went along, due notably to Michaud's open defence of Quebecker nationalism, he was increasingly portrayed by some as an anti-semite and denier of the Shoah, which he has always categorically said he was not. It culminated in a motion of censure from the National Assembly of Quebec. Lucien Bouchard is also said to have been influenced by the weight of the affair to resign as Premier of Quebecin 2001. Michaud still fights to this day for recognition of the motion of censure as an "anti-democratic mistake". Also, Bouchard announced that he would block Michaud's candidacy. Claudel Toussaint received the nomination. Michaud's faction ran its own candidate: Paul Cliche. Both sovereigntist candidates lost the by-election against Liberal nominee Nathalie Rochefort.
