The Toronto stock exchange has punched through the 15,000 level for the first time in its history. The TSX has gained 23 per cent since January; The Dow Jones has dropped 18 per cent in the same period. Which inspired one Bay street capitalist to exult: “Canada is probably one of the best places to be in the world.” I expect that sentence would be true even if you were to omit the word “probably.”
Look at Canada’s record. Low unemployment, low inflation, low interest rates. We have a whopping trade surplus; the U.S. has a whopping trade deficit and is in hock to China for billions. We have a health care system that covers everybody; American politicians are debating the fine points while 47 million of their countrymen are not covered. The credit crunch that is pulling down the American economy, is much less prevalent in Canada.
Every government in Canada – federal and provincial – is showing a surplus. Washington is trillions of dollars in debt. Unlike the States, there is no abortion debate in Canada that amounts to anything and same sex marriage is legally protected.
The Canadian federal system – open and flexible – is the envy of the world.
Canada stalwartly stayed out of the American quagmire in Iraq. But we are making a major military effort in Afghanistan where the real terrorist threat is.
Other than to follow a job, is it likely any Canadian would want to move to the States?
Is there a better place to be than Canada?
I should add that some American politicians are making noises about opening up and renegotiating the Can-US free trade agreement, NAFTA. Hold on folks. If the USers monkey with NAFTA Canada will recalibrate the energy supplies we pour every day into the States. By the by, how many Americans do you think know that Canada supplies more energy to the U.S. than any other country on the face of the other. If you upset us we can cut you off.
Here are the astonishing facts: Canada provides 100 per cent of U.S. el4ectricity imports, about 35 per cent of its natural gas, 17 per cent of oil and that does not count uranium and other metals. Canada has not overtaken Saudi Arabia as the main supplier of oil to the U.S. I wonder how many Americans know that?