Comment 81329

By A Smith (anonymous) | Posted September 30, 2012 at 18:31:34 in reply to Comment 81325

>> These acts are largely contributing factors in why our financial house is in relative order compared to the drunken sailor spending that has occurred in Europe for the last 30 years.

Is that why our dollar now trades at $1,741/ounce of gold, rather than the $500 it averaged between 1981-2005?

If our economy is so great/productive, why is auto production down from 2.9M in 2000, to 2.1M in 2011? Why are exports flat over the last decade, while they doubled in the nineties? Manufacturing shipments grew over 9%/yr in the nineties, but remained flat in the 00's.

Even the oil industry has not performed as strong as we have been led to believe. From 1990-2000, oil production growth averaged 2.14%/yr (by volume). In the most recent decade, they are up by only 3.27%/yr. While prices have climbed for oil, our productive capacity has only increased marginally.

Then look at the cost to buy a house. From 1990-2000, Canadian house prices fell from 5.73X GDP/capita, to 5.11X. If that trend continued, eventually people could buy a house without any mortgage at all.

But the thing that matters the least, our "paper" public debts, have indeed fell. But since were not running out of trees, why does this matter at all?

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