Friday, October 07, 2011

More Canadian Pudding

It's deja vu all over again as Canada smokes the USA in job creation. Canada added 60,900 jobs in September. Obviously, since Canada has a tenth of our population and equivalently small economy, their 60,900 jobs is akin to the US adding 609,000 jobs. Alas we added 103,000 jobs (and that 103K is not really 103K), a pretty poor performance. Serves us right though, we are doing everything wrong and Canada is mostly doing things right:
Doubtless due to alot of factors, but it is worth noting that Canada a) had no such crazed policy of promoting home ownership at nearly any cost and thus no Fannie Mae or Freddie and thus no reationary, job-killing, regulating of their banks into the ground, b) Canada is loosening the government's grip on healthcare, moving in a more market-friendly direction, c) they have a strong currency, d) Canada is drilling, drilling, drilling, unshamed to explore for and develop wondrous hydrocarbons, and e) they are signing free trade agreements. Pretty much the exact opposite of what the US is doing in terms of economic policy. The proof in the pudding my friends.
Hope and change America. You bought it, enjoy it.

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