Serious food for thought
The Toronto Globe & Mail cites a report from Environics Analytics finding that the average household net worth in Canada in 2011 was $363,202, while the figure for American households was $319,970. The difference is in real estate holdings, $140,000 in favor of Canadian households. The author of the report cites Canadian fiscal conservatism, avoidance of our subprime disaster, and Canadian rejection of the income tax deductibility of mortgage interest. The Canadian unemployment rate is lower than ours as well.
What havoc has been wrought by Fannie, Freddie, Barney Frank, Chris Dodd, and the whole crew of pandering, vote-buying politicos of all stripes responsible for the recent economic crash and the nosedive in our national net worth.