07-16-2012, 04:06 PM
For the first time in recent history, the average Canadian is wealthier than the average American.
http://www.bloomberg.com/news/2012-07-15...-u-s-.html
I think avoiding those two costly wars and investing at home must play a role in this too.
And bank regulation. Wow, if only we'd done this:
"Alone among finance ministers in the Group of Eight nations, he “resisted the siren call of deregulation,” in his words, and insisted that the banks tighten their loan-loss and reserve requirements. He also made a courageous decision not to allow Canadian banks to merge, even though their chief executives claimed they would never be globally competitive unless they did. The stability of Canadian banks and the concomitant stability in the housing market provide the clearest explanation for why Canadians are richer than Americans today."
http://www.bloomberg.com/news/2012-07-15...-u-s-.html
I think avoiding those two costly wars and investing at home must play a role in this too.
And bank regulation. Wow, if only we'd done this:
"Alone among finance ministers in the Group of Eight nations, he “resisted the siren call of deregulation,” in his words, and insisted that the banks tighten their loan-loss and reserve requirements. He also made a courageous decision not to allow Canadian banks to merge, even though their chief executives claimed they would never be globally competitive unless they did. The stability of Canadian banks and the concomitant stability in the housing market provide the clearest explanation for why Canadians are richer than Americans today."