We fight so much amongst ourselves that one would think that life in America is terrible. True, inflation hits the most vulnerable the hardest and many of our neighbors are needlessly suffering. Yet, we are doing much better than our northern neighbor. I still have friends in Canada and continue to follow the Canadian political situation. Recently, the minister of finance and deputy prime minister of Canada, Chystia Freeland, resigned her posts very publicly on X. Why is simple.
Canada has seriously fallen behind the United States economically. At the end of 2011, gross domestic product (GDP) in Canada was slightly greater than in the US. By the end of last year, our great nation produced $84,237/person while Canada only produced $53,371/person. * We must be doing something right. The chart below paints the ugly picture for our Canadian friends.
Yes, Canada is producing no more per person than it did 12 years previously, even though inflation has been punishing there. Our productivity and economic growth provide the opportunity for us to fix our problems, including the debt, if only we can summon the will. We need to if we are to maintain the domestic stock premium and provide a future for our children and grandchildren.
*Source: YCharts