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Canada For The Win - Economically


Wetcoaster

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No surprise provinces like ours (Ontario) are also going into debt rather quickly so I don't necessarily look at that graph and think "how wonderful". Going into debt like this to artificially keep productivity high is stupid. Canada needs to avoid becoming such a high consumption country like the US, it's not something we can sustain.

Exactly.

Before the housing crisis in the US everything was the standard "housing prices always go up."

Yet looking at long term studies (Amsterdam Heerengeschect(?) which looks at 300 years of data and Case Schiller which is about 100 years) one can see that type of growth was unsustainable or would in the long term defy the "rule".

Somehow Canada has scraped through a disaster relatively unscathed, which effected pretty much every other country. Doesnt add up especially when you look at the stats regarding housing market growth and interest rates and personal debt levels.

Im pretty sure Harper is eager to get the resources based growth going to offset reduction in growth from the housing market.

If it works it may be great. If not then a whole heap of trouble.

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