Canadians are now richer than Americans!

Discussion in 'Economy' started by kiwiman127, Jul 18, 2012.

  1. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    Canada has now surpassed America regarding the average wealth of the average citizen. How they did it was a mixture of fiscal conservatism and socialism. Canada wasn't as hurt and most other countries because in the face of calls for less regulations, the Canadian government tighten regulations for banks. At the same time, Canada cut back on social programs.
    This all goes to show that there isn't just one way to avoid/solve/address potential and real problems. Both liberals and conservatives can point to something that helped Canada emerge economically sound.
    Of course that concept will never work in the US because both the left and the right refuse to approach problems in a bipartisan manner. Nope, the right and left would rather that the US flounder and fail than to act like real folks that love their country more than their failed ideologies.
    There's a real life lesson to be learned, but alas, the hard core right and left will continue to be more polarized than ever and let America fail.

    Hardheaded Socialism Makes Canada Richer Than U.S.
    Hardheaded Socialism Makes Canada Richer Than U.S. - Bloomberg
     
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    Last edited: Jul 18, 2012
  2. Moonglow
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    Moonglow Diamond Member

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    Oh No!! Not another socialist nation enjoying a better standard of living than the USA.
    It can't be true.
     
  3. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    Of course Canada isn't a socialistic country. They like other capitalistic countries, may use social programs and they may regulate businesses, but that ain't socialism. But tell that to most far righties and they won't believe you,,they are just too scared that communism is next!
    Also, Canada also implemented cuts to their social programs which is a conservative concept. Canada's success isn't a victory for either liberalism or conservatism but it is a good outcome for the country of Canada. Again, it shows that a mix of liberalism and conservatism can yield very good things.
     
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  4. Moonglow
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    Moonglow Diamond Member

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    yes indeed.
     
  5. Dante
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    Dante On leave Supporting Member

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    but they still have smaller penises
     
  6. Widdekind
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    Widdekind Member

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    In the 1990s, Canadian Finance Minister Paul Martin:
    • regulated bank lending
    • cut social programs
    • cut corporate taxes
    With lower private-sector taxes, lower public-sector spending, and less easy-credit-speculation-on-real-estate, Canada's economy has grown, without suffering speculative "bubbles". Canadians have higher net worths (by about $50K), due to the wealth wasted, in the US housing bubble. Canada's economy is more "legitimate", being based more on earning money, less on borrowing credit.
     
  7. editec
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    editec Mr. Forgot-it-All

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    Sadly, it's not like Canadian have advanced, of course.

    Americans are just falling behind.
     
  8. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    And that is happening because US policy has become more politicized, right versus left. In the 90s the conservative and liberal elements became less prone to bipartisanship and became more about party than country. Meanwhile, Canada put together financial stop-gates thinking forward that were a combo of liberal and conservative trains of thought that worked a decade later. The escalating closed-minded political polarization is killing this country.
     
  9. Toro
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    Toro Diamond Member

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    A big part of it is simply because commodity prices are so high.

    But Canada has been a better run country than the US over the past 15-20 years.
     
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  10. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Canada's banking regulations are enviable to fiscal "conservatives"..like myself.
     

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