Wednesday, July 18, 2012
Not sure what's wrong with Jon Kay ( whom I still like) of late. Has he been hanging out with über lefty John Moore or is he just being a contrarian. In any case Terence Corcoran refutes Jon's latest article in praise of grit socialism. Terence Corcoran: Not wealthy enough to gloat Terence Corcoran Jul 17, 2012 – 10:36 PM ET Comments Email Twitter inShare A new facteroid circling the media planet suggests Canada is sweeping ahead of the United States economically. Here it is: The average Canadian household had net worth of $363,202 at the end of last year, compared with $319,970 for the average American household. A surprising number and, in many respects, a heartening statistic to boost the economic confidence of Canadians. How much of a boost? That’s a bigger question. The bald calculation is simple enough: The average Canadian household now looks to be more than $40,000 richer than the average American household, according to data from Environics Analytics of Toronto. But before Canadians start counting the dollars and heading for the mall, a closer look at the data suggests there may not be as much wealth at hand as the raw numbers suggest. Also in question is whether this Canadian statistical achievement is enough firepower to justify a wave of ideological gloating.