“At a certain point you’ve made enough money.” Canada now richer than us.
“Over the past five years, net worth per Canadian household has exceeded net worth per American household (total combined value of liquid and real estate assets minus debt) for the first time,” the Toronto Globe and Mail reports.
“Currently, the average Canadian household is more than $40,000 richer than the average American household.”
The paper adds: “And these are not 60-cent dollars, but Canadian dollars more or less at par with the U.S. greenback. Furthermore, these figures ignore public-sector (government) debt that presumably people on both sides of the border or their children will some day have to pay. Such debt is higher in the U.S. as a percentage of GDP than it is in Canada.”
How did we get there?
A Republican-and-Democrat engineered recession, followed by:
“At a certain point you’ve made enough money.”
“The private sector is doing fine.”
“If you’ve got a business, you didn’t build that. Somebody else made that happen.”
