Site Search:
 
TEFL International Supports Dave's ESL Cafe
TEFL Courses, TESOL Course, English Teaching Jobs - TEFL International
Korean Job Discussion Forums Forum Index Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Why Canadians are Richer than Americans
Goto page 1, 2, 3 ... 14, 15, 16  Next
 
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Current Events Forum
View previous topic :: View next topic  
Author Message
Unposter



Joined: 04 Jun 2006

PostPosted: Tue Jan 01, 2013 5:56 am    Post subject: Why Canadians are Richer than Americans Reply with quote

Any thoughts?

http://www.thefiscaltimes.com/Articles/2012/07/18/Why-Canadians-Are-Richer-Than-Americans.aspx#page1

By STAFF, TheWeek.com
July 18, 2012

Canadian households held a net worth of $363,202 in 2011, according to Environics Analytics WealthScapes' recently released data, while U.S. households had $319,970. Canada's unemployment rate also ticked down to 7.2 percent, versus the stagnant 8.2 percent in the U.S.

How did Canada come to beat the U.S. in wealth? Here, four theories:

1. Canada practices a "fiscally conservative form of socialism"
American liberals and conservatives have both looked toward Canada for proof that their pet policies work liberals point to stricter regulation and universal state-run health care, for example, while conservatives tout its lower public debt and "brutal cuts" to social programs in the 1990s, says Bloomberg View's Marche. But "the truth is that both sides are right." For the past 20 years, largely thanks to former finance minister, and former prime minister, Paul Martin, "Canada has pursued a hardheaded (even ruthless), fiscally conservative form of socialism." It's not liberal or conservative, "it just works."

2. Americans lost a big chunk of wealth in housing
The main reason for Canada's new lead in household wealth "is pretty obvious," says Clive Crook at The Atlantic: Between 2007 and 2010 American families lost almost 40 percent of their median net worth (15 percent of mean net worth) due to the collapse in housing prices.

"Canada hasn't had a house price collapse," at least not yet. The real estate held by Canadians is now "worth over $140,000 more on average" than that held by Americans, says Michael Adams at Canada's Globe and Mail. And Canadians hold more than twice as much real estate, with more equity. Otherwise, "Americans' liquid (non-real estate) assets are still greater than Canadians'."

3. Canada's banking system

3. Canada's banking system is more risk-averse
As Marche notes, while the rest of the G8 countries were reducing regulations on banks, Paul Martin led Canada to, in his words, "resist the siren call of deregulation," says Reihan Salam at National Review.

But "Canada never had a Glass-Steagall-style wall of separation between commercial and investment banking," so in some regards there was less regulation to cut. Still, from banking to mortgage rules, "Canadians have traditionally been the cautious, fiscally conservative society, watching American economic dynamism from a safe remove," says The Globe and Mail's Adams. It was only after U.S. banks turned from "dynamic to dangerous" in 2008 that "the risk-averse Canadian tortoise" at least temporarily overtook "the risk-taking American hare."

4. Credit the luck of the Canadians
"Good politics do not account entirely for recent economic triumphs," says Bloomberg View's Marche. "Luck has played a major part," too.

Canada is rich in natural resources at a time when such commodities are fetching good prices. There's softwood lumber, potash, and various metals, but the biggest new windfall is the Alberta tar sands, the No. 3 oil reservers in the world. They're "an environmental catastrophe in waiting," but "if America is too squeamish to buy our filthy energy, there's always China."


Read more at http://www.thefiscaltimes.com/Articles/2012/07/18/Why-Canadians-Are-Richer-Than-Americans.aspx#2KA1CSxFe5LSFure.99

Read more at http://www.thefiscaltimes.com/Articles/2012/07/18/Why-Canadians-Are-Richer-Than-Americans.aspx#2KA1CSxFe5LSFure.99


Read more at http://www.thefiscaltimes.com/Articles/2012/07/18/Why-Canadians-Are-Richer-Than-Americans.aspx#2KA1CSxFe5LSFure.99
Back to top
View user's profile Send private message
rollo



Joined: 10 May 2006
Location: China

PostPosted: Tue Jan 01, 2013 7:06 am    Post subject: Reply with quote

More Canadian chest thumping!!! What about taxes. that article is nonsense. Sew another maple leaf on your backpack.
Back to top
View user's profile Send private message
recessiontime



Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha

PostPosted: Tue Jan 01, 2013 7:27 am    Post subject: Reply with quote

Ah yes, this article explains why there are so many of us living abroad in Korea just to secure full-time work. I guess conservative socialism works afterall...

/sarcasm
Back to top
View user's profile Send private message
Titus



Joined: 19 May 2012

PostPosted: Tue Jan 01, 2013 9:57 am    Post subject: Reply with quote

Because the Canadians house bubble, like the Australian, has not popped yet. Also, Canada didn't import 20 million poor as hell Mexicans and didn't have slavery. Lots of things factor in. Canadian triumphalism is premature. The Canadian economy is benefiting from Chinese demand for commodities and rock-bottom interest rates.

http://www.bloomberg.com/news/2010-12-14/canadians-with-more-debt-than-u-s-spark-policy-makers-warning.html
Back to top
View user's profile Send private message
Fox



Joined: 04 Mar 2009

PostPosted: Tue Jan 01, 2013 4:21 pm    Post subject: Reply with quote

Current measures of "wealth," both at the individual and societal level, seem almost absurd to me. Stock market wealth especially: when House Republicans being dicks about basic governance can cause a "wealth-destroying" fluctuation over night, that ought to be a clue that the standard upon which you are measuring your "wealth" is at least somewhat illusory.
Back to top
View user's profile Send private message
Steelrails



Joined: 12 Mar 2009
Location: Earth, Solar System

PostPosted: Tue Jan 01, 2013 4:54 pm    Post subject: Reply with quote

Comparing Canada to the US makes about as much sense as comparing Singapore or even Norway to Canada. Complete Apples and Oranges.
Back to top
View user's profile Send private message
visitorq



Joined: 11 Jan 2008

PostPosted: Tue Jan 01, 2013 5:41 pm    Post subject: Reply with quote

Steelrails wrote:
Comparing Canada to the US makes about as much sense as comparing Singapore or even Norway to Canada. Complete Apples and Oranges.

Yep. The notion that the US should become more like Canada is just absurd... Doesn't Canada export like 80% of its products to the US? With most of that being resources like petroleum/lumber/minerals etc.? How is the US supposed to emulate that?
Back to top
View user's profile Send private message
TheUrbanMyth



Joined: 28 Jan 2003
Location: It's not a superiority complex when you really are superior

PostPosted: Tue Jan 01, 2013 5:41 pm    Post subject: Reply with quote

recessiontime wrote:
Ah yes, this article explains why there are so many of us living abroad in Korea just to secure full-time work. I guess conservative socialism works afterall...

/sarcasm


Compare the number of Canadians here to the number of Canadians living in Canada. We are a tiny amount not even one percent.

We are the exception and not the rule. So to measure conservative socialism by that standard doesn't work.

Which is not to say that conservative socialism is a raging success.
Back to top
View user's profile Send private message
No_hite_pls



Joined: 05 Mar 2007
Location: Don't hate me because I'm right

PostPosted: Tue Jan 01, 2013 6:10 pm    Post subject: Reply with quote

If we were to look at median and not average than Canadians would almost double Americans in Net worth.

Anyway it's a great article and right on the money. Ha Ha
Back to top
View user's profile Send private message
recessiontime



Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha

PostPosted: Tue Jan 01, 2013 6:38 pm    Post subject: Reply with quote

TheUrbanMyth wrote:
recessiontime wrote:
Ah yes, this article explains why there are so many of us living abroad in Korea just to secure full-time work. I guess conservative socialism works afterall...

/sarcasm


Compare the number of Canadians here to the number of Canadians living in Canada. We are a tiny amount not even one percent.

We are the exception and not the rule. So to measure conservative socialism by that standard doesn't work.

Which is not to say that conservative socialism is a raging

success.



Oh yeah? Try comparing the number of USA citizens to Canadians teachings in Korea. I remember at my EPIK orientation Canadians outnumbered Americans 6 to 1, not bad since the entire canuck population fits into the state of California! Again, I have to question why you work overseas on a visa instead of finding a nice career job in your homeland paying taxes to your beloved Canadian government. Go on, tell me that you have ample opportunities at home but you rather enjoy the cultural niceties of Korea.
Back to top
View user's profile Send private message
TheUrbanMyth



Joined: 28 Jan 2003
Location: It's not a superiority complex when you really are superior

PostPosted: Tue Jan 01, 2013 6:48 pm    Post subject: Reply with quote

recessiontime wrote:
TheUrbanMyth wrote:
recessiontime wrote:
Ah yes, this article explains why there are so many of us living abroad in Korea just to secure full-time work. I guess conservative socialism works afterall...

/sarcasm


Compare the number of Canadians here to the number of Canadians living in Canada. We are a tiny amount not even one percent.

We are the exception and not the rule. So to measure conservative socialism by that standard doesn't work.

Which is not to say that conservative socialism is a raging

success.



Oh yeah? Try comparing the number of USA citizens to Canadians teachings in Korea. I remember at my EPIK orientation Canadians outnumbered Americans 6 to 1, not bad since the entire canuck population fits into the state of California! Again, I have to question why you work overseas on a visa instead of finding a nice career job in your homeland paying taxes to your beloved Canadian government. Go on, tell me that you have ample opportunities at home but you rather enjoy the cultural niceties of Korea.



Actually according to ttompatz there are now more Americans teaching English in Korean then Canadians. There is a list somewhere dividing the number of E-2 teachers by nationality and Americans top it by far.
And that's been true since at least 2008 (here is a link that provides the numbers for said year and 2009)

http://forums.eslcafe.com/korea/viewtopic.php?t=208808

If you want to find the more up to date numbers the website for those is also included in the above link.




As for a career in my homeland...been there done that. As for the cultural niceties of Korea...the opportunities to make money and pay low taxes are the main factors for me. We aren't all stuck in a hakwon earning 2 million a month.
Back to top
View user's profile Send private message
bucheon bum



Joined: 16 Jan 2003
Location: DC area

PostPosted: Tue Jan 01, 2013 7:25 pm    Post subject: Reply with quote

TUM is probably more pro-American (and less "ra ra" Canadian) than a lot of Americans on this board. Kinda funny that recessiontime is focusing on his comments...
Back to top
View user's profile Send private message
recessiontime



Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha

PostPosted: Tue Jan 01, 2013 10:04 pm    Post subject: Reply with quote

Tim, check out your own link. It clearly shows a disproportionate number of Canadians compared to Americans. In 2008 there were 8980 Americans and roughly 4800 Canadians. Keep in mind that the US has 10x the population of Canada. There should roughly only be 900-1000 Canadians proportionally but instead we see almost 5000 ! How can you account for this huge discrepancy?
Back to top
View user's profile Send private message
No_hite_pls



Joined: 05 Mar 2007
Location: Don't hate me because I'm right

PostPosted: Tue Jan 01, 2013 10:31 pm    Post subject: Reply with quote

recessiontime wrote:
Tim, check out your own link. It clearly shows a disproportionate number of Canadians compared to Americans. In 2008 there were 8980 Americans and roughly 4800 Canadians. Keep in mind that the US has 10x the population of Canada. There should roughly only be 900-1000 Canadians proportionally but instead we see almost 5000 ! How can you account for this huge discrepancy?


Many Americans are afraid to travel, and believe that America is the greatest country on earth as fax news tells them. I personally know many people like this back home. They can not fathom that there can be opportunities outside the US. Canadians are less likely to be taught that they are the greatest country in world.

Come on, I can't believe you actually asked why there is a huge discrepancy.
Back to top
View user's profile Send private message
comm



Joined: 22 Jun 2010

PostPosted: Tue Jan 01, 2013 10:46 pm    Post subject: Reply with quote

No_hite_pls wrote:
Many Americans are afraid to travel, and believe that America is the greatest country on earth as fax news tells them. I personally know many people like this back home. Canadians are less likely to be taught that they are the greatest country in world.

Come on, I can't believe you actually asked why there is a huge discrepancy.

To be fair, I don't think that's true of the college educated Americans which would be eligible to teach in Korea. On the other hand, Canada has more than twice the rate of degree completion of the U.S., which in itself accounts for most of the discrepancy.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Current Events Forum All times are GMT - 8 Hours
Goto page 1, 2, 3 ... 14, 15, 16  Next
Page 1 of 16

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2013 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group

TEFL International Supports Dave's ESL Cafe
TEFL Courses, TESOL Course, English Teaching Jobs - TEFL International