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Bawney Fwanks thought that home prices would go up forever and had no problem with GSE's. He was a flat worlder IMO. Chris Dodd, likewise. They were both Democrat flat worlders.
The narrative that Barney Frank, who was in the minority, is the villain in the housing crisis has been long debunked.
That's what happens when you avoid making laws based on emotion or religion. Your country runs better.
Sorry but it has nothing to do with that. The Canadian banking system is simply much more conservative and therefore on sounder footing than the U.S. banking system. The result is less speculative gambits like mortgage backed securities and credit default swaps. The overall result is less of an incentive for banks to write mortgages purely to securitize them and sell them and more of an incentive for good old fashion prudent mortgage underwriting. That's why there wasn't the speculative housing bubble in Canada compared to the United States and they haven't had near the losses related to declining housing values.
Most of the gain in wealth is simply that Canadians haven't seen the declines in home values that the United States has.
I haven't seen much from either place that I'd care to import.
Chances if you are driving an American made car some of the sub-assemblies were manufactured in Canada and then installed in the United States.
The United States also gets a significant amount of timber, petroleum and natural gas, auto parts and wheat corn, beef and other exports from Canada.
In fact, as quiet as it's kept Canada is the United States #1 trading partner. There is about 2.5 MORE TRADE between Canada in the United States then between China and the United States.
Chances if you are driving an American made car some of the sub-assemblies were manufactured in Canada and then installed in the United States.
The United States also gets a significant amount of timber, petroleum and natural gas, auto parts and wheat corn, beef and other exports from Canada.
In fact, as quiet as it's kept Canada is the United States #1 trading partner. There is about 2.5 MORE TRADE between Canada in the United States then between China and the United States.
Oh my, the irony. Isn't that attitude one of the main things that Canadians have criticized Americans for, for so long?
Aw now come on, for years Canadians have had to sit back and quietly listen to Americans use Canadians as the butt-end of their arguments (most of them false) in pointing out the 'evils' of Canadian 'socialism' vis-a-vis American-style capitalism. Canadians didn't complain; they just sat back quietly knowing all the while how utterly false these fantasies were and amongst each other quietly acknowledged the sources.
And so there you have it: vindication coming from the presses of a Rupert Murdoch-owned New York Daily News. Rather than getting defensive about it, maybe Americans could, I don't know, actually shut up and try to learn something from their northern neighbors. Of course, that would require humility, which is short supply I reckon.
If Obama was the Prime Minister of Canada -------- Canada would start to lose it's status very quickly.
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