Replies

The key to Canada's lack of financial trouble is just that. They did just the opposite of what the USA did in regards to scams like Fannie May and Freddie Mack. They tightened up on their lending and left the banks to handle their own funding of the loans they made. “Sub-Prime” loans were not allowed and a substantial down payment and investment from the borrower was required to secure all loans made.

This IS the key to a healthy financial system. The stronger economic system they enjoy, follows as a result.

In addition to that, Canada has always had the USA to defend this Continent and has spent very little of their tax revenues on their military.

Another major difference is Canada's urban structure. The country is mostly rural and smaller towns and communities. These communities are supported by stable industries like logging, oil, manufacturing, trucking, agriculture and small business. They also do not have to deal with the out of control welfare system or millions of illegal immigrants. And, smaller rural communities tend to have a stronger sense of accountability and national pride.

Not only that, Canada's Welfare system requires accountability and repayment to anyone resorting to it. So, most Canadians only use it as a last ditch option and they have very few generational/professional welfare recipients.

Good points except your comments on the welfare system. It is very generous in Canada and there are entire towns with generational welfare recipients. The canadian mindset is far more socialist and govt has a far bigger role in life and there is very little opposition to that from the people.

Another major difference is Canada's urban structure. The country is mostly rural and smaller towns and communities.

This is an interesting point. Most of Canada's land mass is rural, but most of its population lives in urban areas. I did a quick calculation using some figures available online, and based on this information it looks like about half of Canada's entire population lives in its ten largest metropolitan areas. These include the following:

Toronto (5 million)
Montreal (4 million)
Vancouver (2 million)
Ottawa (1 million)
Calgary (1 million)
Edmonton (1 million)
Quebec (700,000)
Winnipeg (700,000)
Hamilton (700,000)
London (500,000)

That total comes to more than 16.5 million people -- out of a total population of around 33-34 million.