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Old 10-11-2011, 12:25 PM
 
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OH wait that's right, it's because they refused to deregulate their financial system at the request of big banks....
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Old 10-11-2011, 12:26 PM
 
12,997 posts, read 13,644,862 times
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Originally Posted by fibonacci View Post
OH wait that's right, it's because they refused to deregulate their financial system at the request of big banks....

But they're socialists! Socialism never works!
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Old 10-11-2011, 12:29 PM
 
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Why did Canada resist much of the global financial meltdown?

Because they have a dearth of people stupid enough to buy houses they could not afford.
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Old 10-11-2011, 12:33 PM
 
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They didn't leverage themselves like we did. RP
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Old 10-11-2011, 12:38 PM
 
1,459 posts, read 3,298,528 times
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Originally Posted by Moth View Post
Why did Canada resist much of the global financial meltdown?

Because they have a dearth of people stupid enough to buy houses they could not afford.

have you seen the prices of houses in Vancouver? Housing Bubble part deux.


And who says Canada is not going to have a financial meltdown. Their dollar is down almost 10 cents from last month.
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Old 10-11-2011, 12:40 PM
 
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The Chinese are causing the bubble in Van. $860K for the average house. That bubble WILL burst. RP
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Old 10-11-2011, 12:49 PM
 
Location: Salisbury,NC
16,759 posts, read 8,214,152 times
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I believe their mortage system is largely different from ours. They also are getting a lot of oil out of the ground.
I believe there mor. are not as leveraged as ours and require larger down payments.

And they have that National health care system which must save them a boatload of cash.
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Old 10-11-2011, 12:53 PM
 
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I would add that Barney Frank and Chris Dodd are not MPs in the Canadian Parliament.
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Old 10-11-2011, 12:54 PM
 
1,459 posts, read 3,298,528 times
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Quote:
Originally Posted by Boss View Post
I believe their mortage system is largely different from ours. They also are getting a lot of oil out of the ground.
I believe there mor. are not as leveraged as ours and require larger down payments.

And they have that National health care system which must save them a boatload of cash.
"Canada’s government-monopoly health insurance system is the sixth most expensive among 28 OECD countries but ranks far below average when it comes to providing medical resources and services, according to a new report from the Fraser Institute, Canada’s leading public policy think-tank."

they are not getting a lot of oil out of the ground....yet. Getting oil from Shale is expensive.

You should have just mentioned that Canada doesn't have a huge defense budget like we do.
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Old 10-11-2011, 12:57 PM
 
Location: Victoria, BC.
33,536 posts, read 37,140,220 times
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First, our financial system have been rated best in the world for the last few years.

The number of low-income people in Canada ranges from 3.2 million to 4.4 million, or 9.6 per cent to 13.3 per cent, depending on how it’s defined.
Certain groups tend to be at risk for low-income living, including single-parent families, Aboriginal people, people with disabilities, recent immigrants and seniors.

This means that close to 90% of the population will be paying income taxes in 2011.

In the US the forecast for 2011, is that 47% will pay no income tax at all...I believe this is up from 44% last year.
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