Most Canadians Are Now Better Off Than Most Americans

#1

Post by pseudolus » Fri, Aug 30, 2019, 4:43 PM UTC

Most Canadians Are Now Better Off Than Most Americans
bloomberg.com

Re: Most Canadians Are Now Better Off Than Most Americans

#2

Post by YinglingLight » Fri, Aug 30, 2019, 5:16 PM UTC

Post in-store prices and this madness will end.

Re: Most Canadians Are Now Better Off Than Most Americans

#3

Post by product50 » Fri, Aug 30, 2019, 5:17 PM UTC

And then you realize that the population of Canada is 10% of US. Canada should be compared to the Nordic countries vs. US in terms of quality of life etc.

Re: Most Canadians Are Now Better Off Than Most Americans

#4

Post by refurb » Fri, Aug 30, 2019, 5:17 PM UTC

Canadians have been gorging themselves on debt for the past decade. Far higher than other OCED countries. That's left them in a very precarious situation.[1]

[1]https://www.cnbc.com/2017/11/24/canadas-household-debt-level...

Re: Most Canadians Are Now Better Off Than Most Americans

#5

Post by lostgame » Fri, Aug 30, 2019, 5:20 PM UTC

[flagged]

Re: Most Canadians Are Now Better Off Than Most Americans

#6

Post by ghobs91 » Fri, Aug 30, 2019, 5:21 PM UTC

and yet when clicking the link, the headline says "Canada’s household debt levels higher than any other country, report says"

Re: Most Canadians Are Now Better Off Than Most Americans

#7

Post by anaphor » Fri, Aug 30, 2019, 5:22 PM UTC

refurb wrote: post #4

Canadians have been gorging themselves on debt for the past decade. Far higher than other OCED countries. That's left them in a very precarious situation.[1] [1] https://www.cnbc.com/2017/11/24/canadas-household-debt-level...

A huge chunk of our economy is real-estate and finance[1], so that's not too surprising. Everyone thinks the path to getting rich is to buy houses / condos. They're in for a nasty surprise I think. It's never a good idea to go crazy leveraging debt. When you combine that with all of the insane student loan debt people go into (I know someone on their 4th university degree!), then it's a recipe for disaster.

https://www.investorsfriend.com/canadian-GDP-canadian-import...

Re: Most Canadians Are Now Better Off Than Most Americans

#8

Post by hackbinary » Fri, Aug 30, 2019, 5:23 PM UTC

refurb wrote: post #4

Canadians have been gorging themselves on debt for the past decade. Far higher than other OCED countries. That's left them in a very precarious situation.[1] [1] https://www.cnbc.com/2017/11/24/canadas-household-debt-level...

Well spotted. And that is mostly due to Harper and the Conservatives giving huge tax breaks to the very wealthy, and the super ridiculously wealthy.

Re: Most Canadians Are Now Better Off Than Most Americans

#9

Post by ska » Fri, Aug 30, 2019, 5:24 PM UTC

product50 wrote: post #3

And then you realize that the population of Canada is 10% of US. Canada should be compared to the Nordic countries vs. US in terms of quality of life etc.

It's not that simple, really. Although for some comparisons you are probably correct, in other ways they are a very natural pairing.

For all their differences, in many other ways Canada and the USA are much more like each other than either are like any other country.

Re: Most Canadians Are Now Better Off Than Most Americans

#10

Post by dmix » Fri, Aug 30, 2019, 5:24 PM UTC

lostgame wrote: post #5

[flagged]

California and Vancouver has more homelessness because you can survive in the streets with the weather there far easier than Toronto.

It also has a network effect, their friends are out there so they want to go. More homeless people the more community they have and less hassle from the police. Same with drug users, the more junkies around the more drug dealers there will be to serve them. Most of those westcoast homeless areas turn into open drug markets which you wouldn't find in Toronto. A lot of the opioid stuff is coming from Asia so it's possible being closer to the west coast shipping ports attracts more users.