Over the past five years, the net worth of the average Canadian has crept up, overtaking the average American’s wealth for the first time. These days, Canadian households are about $40,000 richer than American ones.
Interesting article about how Canada has weathered the economic mess better than we have. Aside from Canadians' relative lack of personal debt, there's one key factor that stuck out:
On a national level, assets like the Alberta tar sands certainly help, but, Marche proposes, it was a policy of "hard-headed socialism" that allowed the banks and the housing market to stay stable and weather the global economic crisis.
It may also be that Canadians still believe a middle class has some value in a democratic society.
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