Why shouldn't Canada be a great country? They live under the umbrella of freedom that America provides and pays for them.

this article has a stupifying amount of ignorance towards Canadian economic policy of the last 3.5 years. While the points raised up until 2007 are largely true, there is no mention of Canada's current economic and fiscal policy, we made a paradigm shift when we went Conservative in 2006. Today Canada is a ship of fools blissfully heading towards disaster. Mr Harper knows this, and can't wait. The global corporate state may seem to be stemming from America, but it is Canada that will be the model. Look at the $1.2 billion being spent on security for the 36hr G8/G20 in Toronto this weekend for evidence.

The authors' point about reducing the Canadian deficit is somewhat valid. However, the authors did not mention that Canada's economy is far more dependent on commodities than the rest of the G7, and this decade's increase in commodity prices helped the Canadian economy. The US economy is not as dependent on natural resources, so this is something the US will not be able to imitate.

Compare with 10-12 years ago:
7-14x increase: oil at ~$10/barrel then, vs. ~$140 in 2008 and $70-80 now
4x increase: gold at ~$300/oz then, vs. ~$1200 now

High commodity prices resulted in higher profits for businesses in that sector, and gave them an incentive to increase investment. This created jobs in that sector and expanded the government's tax base.

Higher commodity prices also means more commodity tax revenue for the federal and provincial provincial governments, especially the resource-rich provinces of Alberta and Saskatchewan.

As well, secondary effects on the financial services and housing sectors:

In contrast to US banks, Canadian banks are more regulated and concentrated, and behave more like oligopolies, and have more conservative lending practices. They benefited from record low interest rates and the surplus money from the commodities sector. Admittedly, the Americans can learn something from Canada's banking industry.

However, there is reward and risk: note the over-concentration of Canadian equity markets in commodities and financial services:

commodities:
Currently, 47% of the market cap of Canada's main stock exchange the TSX –energy at 26.5% and materials 20.5%.
Contrast to just 14% of the US's S&P 500—energy at 10.7% and materials at 3.5%

financial services sector
represents 30% of the TSX,
contrast to 16% in the S&P 500

So the aggregate of financial services and commodities represents 77% of the TSX vs. 30% in the S&P500

The performance (excluding dividends) from exactly 10 years ago:
S&P 500: -22%,
TSX: +16% (and would have been higher if excluded the demise of Nortel)

Housing prices are currently holding up in Canada. Combined with the higher performance of the Canadian stock market over this past decade, this means the typical Canadian did not suffer as much financial loss as Americans. Which of course helps the tax base and economic confidence.

Now should the prices of commodities drop and/or interest rates rise, the 77% over-concentration of Canadian financial markets in financial services and commodities would have negative effects on the economy.

Also the authors, do not mention the enormous gap in military spending in the US vs. Canada

Canada did not have the financial drain of up to $1 trillion dollars to occupy Iraq

Canada's military spending as a percentage of GDP is only 1%, vs US at 4%

People who espouse the view that we need to cut back government sector spending in a time of record unemployment are ignorant. This article tries to make that case that deficit reduction is good for America now because it was good for Canada back in the 90's is just dumb. This isn't 1990 and the people who wrote this article act is if there isn't 10% unemployment in America. These are the same people who urged Roosevelt to cut back on his government works programs during the great depression because of huge deficits. And we all know that we got out of the great depression because of the biggest government works program in history, World War II.

Long term fiscal discipline is a good thing, and that is what we should be aiming for long term. Long term we need to be running surpluses, not deficits.

What this article is really about is the Have and the Have-nots. The people that have money are supporting the view that we need to cut back deficit spending now while the unemployment rate is at or above 10% (in actuality its higher then 10%) because they're afraid that inflation will eat up the money they have in the bank. One would just need to look at the consumer price index to see that there is no significant signs of inflation. It's kind of stupid to think there would be any significant inflation now since consumer demand is down due to lots of people not having any JOBS. This article should be deleted of the internet.

I'm sorry Aurangzeb but Canada has been independant since 1867, unlike Pakistan which is basically a peasant filled nation used as a "virtual state" by the ISI and Pakistani Army.

Now, even though there is a good deal of anti-Americanism (read, inferiority complex) in Canada, I wish it nothing but the best always. But we have to be serious here, there will never be anything close to a "Canadian century." A "Canadian few days", or "Canadian week" here and there maybe, but thats about it. Whilst Canada is no doubt amongst the top tier countries, the fact that it is still nonetheless a small country will never allow it to gain such influence. Of course I know that Canada is the second largest country in the world by total area and fourth largest by land area, but as far a population goes it is not large, and this fact will always keep it securely in America's shadow. By 2100 America's population is projected to be anywhere from 600,000,000~1,000,000,000 (census.gov) Canada's might reach 60 million. Now, I'm not saying either or is good, but looking at that math alone, makes it unlikely.

The author overlooks the single most important factor in Canada's economic improvement. Canada has efficiently exploited its vast energy and materials resources. The article references business investment, a most all of which has been related to hydrocarbon and mineral extraction. I applaud Canada's fiscal discipline, which is something the US could and should emulate. And while the US lacks the resource base of Canada, it does possess vast reserves of hydrocarbons that it steadfastly resfuses to exploit. Until the US is governed by grown-ups, its policies will continue to be based upon adolescent idealism.

Canada has vast quantities of commodities that are currently in great demand and that has resulted in a huge tax windfall for the state.I commend the country for its current , new-found fiscal responsibility. Canada, however, is no world power and never will be. Canada is a European state.It has a cradle to grave welfare state. It has high taxes. It has a small, weak military. It views the world through a pacifist prosepective that comes from the United States military being the de facto national defense of Canada.

Canada, unlike America, does not provide it's citizens freedom of speech. As such, speech that the state does not agree with can be banned. As in America, the left does the speech banning, so leftist topics are fine, dissent, however, is hate speech. Combine a lack of a unifying language or history, official state policy of Balkanization (see. e.g. nunuvat), massive, uncontrolled immigration (much of it Muslim) and provide the state with the power to prosecute inidividuals for state deemed offensive speech, and you have the makings of Canada. Let's hope it isn't the Canadian century.

http://www.cigionline.org/publications/2009/9/prorgram-review-government-canadas-experience-eliminating-deficit-1994-99-canadi

Canada should join the US. A very large % already want to (though it is decidedly less than 50%). We could remove the pointless border between our nations and their input in our presidential elections would be a nice moderating influence. I am sure we could give them some enticements that could persuade them to say yes.

A country with high levels of social welfare. sikis porno film sex izle

America should become like Canada in the sense of discovering vast resources of exportable energy. That wil help.

Canada has favorable demographics (no 600+ million in poverty like India or China), geographical security in North America, abundant resources, and a free society. That's a really good start, and more than most of the over-hyped "potential superpowers" have at present.

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