Skip to comments.Canadians Richer Than Americans For First Time In History
Posted on 07/16/2012 10:47:06 PM PDT by tsowellfan
Americans may enjoy teasing and taunting their neighbours to the north but now the jokes on them.
For the first time in recent history, the average Canadian is richer than the average American.
The net worth of the average Canadian household in 2011 was $363,202 compared to the average American households $319,970 worth, according to data published in Canada's Globe and Mail last month...
(Excerpt) Read more at dailymail.co.uk ...
Teasing and taunting? Stop projecting, and keep dreaming, UK. You must overcome that jealousy issue. You folks in the UK have more important things to worry about.
Thank you Lord Obama.
Good for them, thanks Obama!
Much of that net worth is in overvalued residential real estate. Oil at $90 then boosts the CAN/US exchange rate. Camadian oil exports to the U.S. will double over the next eight years. On the other hand, oil could go to $40 fast in a recession. These are the variables.
They have Harper, we have Obama. Not that complicated to understand.
The next step down in the Americas will put us under some Latin American country (whichever one that would be). I wonder how long it will take Obama to reach that objective.
Oh, so socialism gets the credit according to this Marche guy.
Do you think we could work a trade?
Energy Revolution 2: A Post Post-American Post (Important!)
Kneel before me!
Canadians use to be 15% of my sales. Because of the massive shrinkage of our US sales and the giant increase from Canadian accounts they are now over 60%. I thank God everyday for Canada and so do my employees.
Maybe all our illegals will move to Canada.
What do you sell?
“Do you think we could work a trade”
And penalize the people of Canada who had the good sense NOT to elect a leftist last time around (unlike the USSA)?
Amazing, considering the population of Canada is 10% of ours.
There is a silver lining to this. Now when other nations say the rich nations should spend more to solve the worlds problems, they won’t be talking about us.
and there you have a benchmark that Americans can understand. First time ever and it happened under BHO’s leadership.
If Barry gets a second term, Mexico will pass us.
That works both ways. In fact, I'd suggest that the average "net worth" of someone here in the U.S. has been over-estimated for years.
One big difference between the U.S. and Canada is that the banking system up north isn't very conducive to the kind of real estate bubble driven by idiotic lending standards like we've had here in the U.S. Lending requirements were always tighter up there, and have actually gotten even tighter in recent months under some changes in Canadian banking regulations.
The real issue here is that the U.S. dollar has declined considerably against the Canadian dollar in recent years. Ironically, the "net worth" of your average American is being suppressed by his/her own government's fiscal policy.
One-third of my sales are from a distributor who sells into Canada. While the sales figures have been steady for a couple of years, they are still below 2007. I sell to the sewing notions industry.
How do you like filling out the NAFTA disclosure forms? I know it makes me nervous to have to vouch for my suppliers’ statements of country of origin. I have no idea if they are being honest.
However, I question the US net worth of $319k. In the past few years I have seen figures for American net worth of $150k to the most recent of $77k. How is the figure derived? If real estate forms the largest amount of net worth, perhaps it is easier to sell property in Canada? As someone with a low personal debt, I am also amazed to read of the average American holding consumer debt in excess of $20k. Perhaps Canadians do not have as much consumer debt?
I also question the *disparity* of under $44k. Right now the Canadian Dollar is 2% below the USD. It has varied from that to up to 2% above over the past few years.
There is also a population discrepancy between the two countries and, IIRC, a real estate boom in British Columbia that is attributed in some analyses to Chinese buyers.
I would also appreciate someone explaining why Canada is not taken to task in the media for exploiting its own mineral commodities, while we are prevented from exploiting ours.
The only person that my knee bends for is CHRIST.
Four more years of Obama and Mexicans will be richer than Americans.
Maybe the Daily Mail considers us worth courting too. More likely, they're under the impression that Americans are thin-skinned re. relative wealth. You Americans can do your part to disappoint the Brits by yawning or (even worse for them) by being gracious :)
Kneel before me!
"All right, you know I'm just kidding around."
C'mawn, c'mawn...you know you want to say it...
After obama gets through with America, Hatiians will be richer than Americans.
Although it makes some of my fellow Canadians' teeth grate, resource extraction has been a large and important part of Canada's economy for at least a century. Its importance is like manufacturing to the States.
I know that American manufacturing has been hobbled by American governments; the same is true re. resources in Canada. But, the American liberals are canny enough to know that they can't openly flay American manufacturing. Analagously, resource extraction isn't openly flayed in Canada.
Say brother, can you spare a Canadian dime? : )
He credits Paul Martin? Paul Martin? Oh yeah, there was some dynamic leadership. His nickname was “Dithers”.
Sharing a land border with only one nation...an undefended border at that,that nation being both peaceful and civilized as well as being the most prosperous ever known to man....being a huge,essentially unpopulated nation awash with resources(oil,gas,coal,timber,etc)that pays basically nothing for its own defense.Add that all together and what do you get?
Good! Tax them instead, O!
Update: In spite of a lot of opposition that I don't understand, the bridge is going to be built, with a lot of Canadian dimes and none from the US.
American statists simply resort to backdoor controls on American manufacturing via unions, EPA and other regulations.
After all, manufacturing is one of those industrial niches where no one has been successful on their own. Therefore, everyone is complicit. In order to avoid coerced, second-hand complicity, statists go all out to destroy evil, polluting, free-riding manufacturing.
Canada was born on third base and thought they hit a triple. A country as large as the US with as much as the US in natural resources but with a population size of 10 percent that of the US population sharing the resources and virtually no minority issues.
Private sector unions are on their death bed. Privates sector union participation rate is 6.5% and falling. The manufacturing job you export to a slave kingdom has a 93% chance of making a non union fellow American worker unemployed.
They sound a lot like the teachers who made everyone stay after class when one of the kids pulls something. Such teachers, after all, insisted that said policy was for the children['s own good].
How that type got in charge, I don't know.
Romney’s people need an ad stating first under Obama Canada passes America and how much longer until Mexico is richer than we are?
Let’s all go to Canada!
10 million of us will be flooding your borders in short order. We demand “free” housing,food,home heating, medical services.. oh and cash.
Don’t call us names like illegals... On the contrary we will call you names and march around carrying the US Flag.
I wouldn't gloat so soon. Obama is at this moment reading this report and devising ways he can tax foreigners. And what is worse for you, after King Barack The Grand Redistributor is done, YOU WILL NOT BE ALLOWED TO PUT GRAVY ON YOUR FRENCHFRIES!!! So enjoy your momentary economic edge. Just because we're sliding into Marxist/economic oblivion, and you're not is no reason to lord it over us. Or maybe it is. Besides, Canadian oppressor, I'M CRUSHING YOUR HEAD!!!
Hopefully people know I am kidding. :)
What goes up, because of good governance can easily come down. It wouldn’t take much for a liberal government to get back in power and undo all the good Harper has done.
“Oh, so socialism gets the credit according to this Marche guy.”
If you are implementing a bad idea less forcefully than a competitor, you’re going to lead.
They also have a more homogenous (white) population than the US - so they are on average more productive.
They are not as litigious.
Their banks are not as dishonest as ours
They don’t have the EPA
They have a stable (even if high) predictable tax structure
Among other things.
Gotta give them credit - they went from fiscal deficit basket case in the mid 90’s to paying off debt.
We should aspire to be like them in achieving a fiscal awareness amongst the population that is aware that “deficits matter”. Instead we bitch and moan about our federal benefits that we “paid for”.
“Much of that net worth is in overvalued residential real estate.”
There is a great likelihood that US real estate is still significantly overvalued, so I’d call that a wash.
Canadians know that when there is a fiscal deficit that they can expect cuts in government. In the US we complain that someone ELSE has more than us and expect them to pay. We ARE more socialist than them.
The biggest threat to Canadians prosperity is the US government, so we’ve got that in common.
Surely you jest, but if the SHTF, I’m expecting some refugees. We had three waves of refugees in the past, but they were all political refugees.
You can walk around waving your flag though . We will call you names . But they will be in French so you won't have a clue what we're saying.
Not long ago I made inquiries regarding the possibility of being granted "permanent residency" status in Australia.Not as a refugee (political or economic) but simply because I love the country and people.I had no intention of renouncing my US citizenship at all.It had nothing to do with dissatisfaction with my homeland.
Anyway,I was told that under the "points system" they use to determine eligibility I didn't even come *close* to qualifying basically for two reasons 1)I got zero points for "age"...they want kids in their 20's and 30's...and 2)I didn't have a skill that was in short supply there.If I had been a nurse or physician I *might* have had a chance.Was I disappointed? Yup.Was I angry...did I feel cheated? Nope.Australia was being selective,wanting those who would "contribute" to the nation for a long time and who wouldn't take a job that could be filled by "real" Australians.
It would be fully reasonable for Canada to take the same basic attitude toward potential immigrants from the US (and elsewhere).Too bad *we* didn't take that attitude.
actually it is not amazing.
We have more people to raise up to that level than they do. And they have very fussy immigration laws and a mandate to exploit their energy holdings.
I grew up across the street from a French family and one of the kids was my best friend.I also live below an older woman originally from France.I know *all* the words you're thinking about.Why,earlier this year I stopped for directions in Quebec saying to a woman "Je cherce le Autoroute dix".Of course I didn't understand the answer....
Remember the old USA that had those... instead we've become the Netherlands.