Posts Tagged ‘Canada’
Oh Canada!
Having largely sidestepped the Great Recession, Canada is starting to look slightly shaky. House prices rose for the 19th straight month in October (been there) and household debt/GDP is 90% in Hockey Country while here it’s 77% after topping 90% in 2008. Worse, GDP in Q3 is almost at a crawl and their top-notch central…
Read MorePenniless Canadians
The Friday File: Earlier this month Canada minted its last penny. The move will save taxpayers $11 million/year and financial institutions about $20 million/year in transportation and storage costs. In parliamentary hearings, no one opposed the idea. Canada follows Australia, Denmark, Finland, France, Israel, the Netherlands, New Zealand, Norway, Spain, South Africa, Sweden and Switzerland…
Read MoreUnfunded Liabilities
Advanced economies with aging populations have made lavish spending promises that are unafforadable absent huge tax increases. In Canada the “unfunded” amount is 7 times GDP. In Korea it is 6.8, in Spain it is 6.5, here in the USA it’s 5, in Australia it’s 4.8, in the UK 3.3, in Germany 2.8. France 2.7,…
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