Canada is doing that well?

This is my response to this article.

Is Canada doing well, very much in some ways, but less so in other ways.

Yes, the economy is doing quite well like in other regions with natural resources. Canada also have a lot of land available and this combined with one of the largest reserve of fresh water in the world. Also, a good sign of the well-being is the fact that a number of hard-working people from all around the world are wanting to make Canada their home.

But, many trends are worrying. They are different that the article mentioned but all have a massive effect on the day to day of many Canadians.

First of all there is an housing bubble which have the possibility of being a bigger one then the one that had burst in the United States in 2008. This is why I believe that this  »regulation » argument have no sense, especially that mortgages in Canada are owned directly or indirectly by the state. When this housing bubble will burst, watch out for the consequences!

Secondly, Canada is one of the countries in the world with the highest debt per capita. In other words, many Canadians are not living within their means even more so then Americans.

Third of all, the healthcare system in Canada will have to be reformed in the future. It’s not about the  »if » anymore, it’s about the  »when ». With the fact that the population is becoming older and older and this with less people who are in the labour market, this will the end of the pseudo-free healthcare utopia. And again, by comparing Canada to other industrialized countries, the healthcare system have big problems whatever in the cost effectiveness ratio or in the waiting times.

In conclusion, I found it despising that many so-called  »experts » do not look at these factors. They are all seeming to be thinking that everything will be at the status quo forever.


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