In anticipation of President Obama's visit to Canada, The Invisible Hand sent reporter Lex Rex to our neighbor to the North CANADA. Yes I am here in Quebec City, Canada, I have learned five things that the USA can learn from:
1. No Canada Banks have failed. Canada banks are very strong, in fact Canada requires only a 15-1 reserve ratio, while USA operates on 26-1, and Europe 66-1. Canada banks need no bailout and none have failed.
2. Home ownership is strong and equal to the percentage in USA. 68% own homes and prices have only dropped around half of the price drop if USA housing. Also, a note if interest, Mortgage interest is not deductible for Canadiens on their taxes.
3. Canada's Health Care System is broken. No suprise about socialized medicine.
4. Many USA highly educated foreign students (India, Asian etc.) are moving to Canada to live and work after graduate school. Why? The USA kicks them out because student Visa has expired.
5. When shopping in Quebec it is easy to find things made in Canada. Clothes, boots, furs, toys, and syrup. In fact I had no trouble buying Canada in Canada.
Canada is a great place to visit and to learn some ideas, but nothing beats the USA, unless the newly passed Succubus destroys the USA, then maybe our refuge maybe Canada.
-Lex Rex, reporting from Quebec City, Canada.
oh Canada, soon to be stronger than socialist USA.
Posted by: Michel | February 15, 2009 at 09:41 PM