Wednesday, December 06, 2006

Oh, Canada - Spare Me A Million?

"Canadians are among the richest two per cent of the global population who control more than half of the world's wealth, a United Nations study released Tuesday has found."

Canada was ranked in at number 11 in the wealthiest countries in the world study.

"Building up wealth in the form of your house, (for example), is very important, but that's very difficult to do in a lot of countries." Canadians are very lucky to be able to easily buy properties, obtain mortgages and hold assets.

"The World Institute for Development Economics Research of the United Nations University, the UN agency that undertook the study, said it's the first time that household wealth - rather than just income - has been measured in a global study."

With house prices appreciating in many parts of Canada, many Canadians are house rich.

"If you hit a recession, or a drought, your income disappears, but if you have assets, savings and so on, you're in a much better position......."

Canada is a stable G7 country, it has a strong economy and a great social system and infrastructure.

"Still, there are many countries in the world where you can't depend on the bank on the corner - maybe it's not going to be there next year."

We are lucky to live, be born or to become Canadian. Now we have to start giving back or tithing our wealth back to those who are in the other 98%


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