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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Condor who wrote (56219)	11/21/2004 9:58:36 AM
From: Seeker of Truth	Read Replies (1) of 74559

I'm sorry that I don't have the exact figures but roughly in the last few years the US public debt has grown from about 30% of the GNP to 70% of the GNP. On the contrary Canada has done the opposite. The federal debt is now around 30% of the GNP and falling. Things were really bad around 1990 when the Wall Street Journal called Canada a basket case. Bob Rae was scared out of his wits by the interest rates that Ontario would have to pay for some of his never born projects. Those days are gone; I hope forever. IMHO the success of Canada can be attributed to the energy of immigrants plus the reluctance to fight wars. Americans are more hysterical; Canadians are calmer, hence somewhat more objective, not a lot maybe. When I get some time I will google Canada's public debt and GNP and report back to you. Anyway the numbers are good. I think the poster was remembering the situation of 1990 and our newspapers rarely print good news. Why? That's a matter for psychiatrists.

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