link here to article
This article contains several interesting graphs which show the differences between US and Canadian household balance sheets and how they were impacted by the Great Recession. The innovations in US banking, triggered by deregulation which enabled innovation, by getting government out of their way, did not have the predicted result. Canada, which avoided deregulation and banking innovation, looks a whole lot better than the US. They have a better healthcare system, and a more solid banking system, but the Bruins won the Stanley Cup.
On a more serious note. Per capita home equity in the US is back to where it was in 1978!! Our balance sheet recession will impact the US economy for some time. Canada's primary concern will probably be slower growth in their export market to the US.
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