You're Now Twice As Likely To Achieve The 'American Dream' In Canada

Tyler Durden's picture

Authored by Mike Krieger via Liberty Blitzkrieg blog,

On the positive front, America is really good at dropping bombs on foreigners.

MarketWatch reports:

The American dream — the idea that anyone can own their own home and do better than the previous generation with the right amount of hard work — has been fading for years, with rising house prices and stagnant wages. Now, people who want to achieve it may be better off seeking it in Canada, the U.K. or Denmark according to a new study published by the Federal Reserve Bank of St. Louis.

At least the Fed is admitting its total failure.

The study, authored by Raj Chetty, professor of economics at Stanford University, defined the concept as the ability for children born in the bottom fifth of income distribution to reach the top fifth. In the U.S. the likelihood of that is 7.5%, whereas in Canada children born in that group are twice as likely to rise to the top — at 13.5%. In the U.K. the likelihood of achieving that move from the bottom fifth to the top fifth is 9% and in Denmark it is 11.7%.

 

Indeed, the rich do appear to be leaving the middle class behind. Most U.S. middle-income households (81%) had flat or falling income between 2004 and 2014, according to a U.S. Congressional Budget Office data analyzed by the McKinsey Global Institute, a global management company.

 

“Most people growing up in advanced economies since World War II have been able to assume they will be better off than their parents,” the report said. “Yet this overwhelmingly positive income trend has ended.”

This is primarily a function of our economy being dominated by rent-seeking parasites, who add no value to society but still somehow earn the most money. Until we shift to an economy that rewards creativity, production and innovation, the U.S. will never truly recover. Unfortunately, the Trump administration is not headed in that direction, as I outlined in my post earlier today: Donald Trump Works For Wall Street, Not Russia.

Meanwhile, Bloomberg News just published an article celebrating the reduced standards of living many Americans are facing as a result of decades of flat-to-declining wages, combined with soaring home prices in a piece titled, Now You Can Live in a Remodeled Shipping Container:

Startup Boxouse sells “portable, affordable, beautiful smart homes” made from shipping containers (the “deluxe” edition costs $49,000 and includes shipping). Chief Executive Officer Luke Iseman, a Wharton graduate who previously ran Y Combinator’s hardware program, concedes that “container houses aren’t perfect” but says they can help ease housing shortages. He shares one with co-founder Heather Stewart that’s set up in an Oakland warehouse. They’re partly financing the business by renting out two others on Airbnb.

Thanks for playin’ America.

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chunga's picture

"Murika leads the world in FRAUD.

Looney's picture

 

Startup Boxouse sells “portable, affordable, beautiful smart homes

A “smart home” is a smartphone you can live in.  ;-)

Looney

Douche McGoosh's picture
Douche McGoosh (not verified) Looney Mar 17, 2017 10:47 AM

We're nice and douchey up in Canaduh

https://localbitcoins.com

froze25's picture

Take a good look at Canada's immigration policy.

Logan 5's picture
Logan 5 (not verified) froze25 Mar 17, 2017 11:01 AM

So does that mean I get 2 bottles of Grape Drink instead of 1, or am I just twice as likely to get the one bottle of Grape?

The Juggernaut's picture

END THE FED!

 

Ron Paul 2020...

Handful of Dust's picture

But Soweeto bin Bama promises America is #1!

"If you want to keep your American Dream, you can keep your American Dream. I promise!"

~ Barrack Hussein bin Bama

Yukon Cornholius's picture

Are shipping container yards the new trailer park?

I'll get to work on the sitcom.

Luc X. Ifer's picture

The article title is BULLSHIT I can tell you that all top range performers in their field in Canada are looking to leave and move to US or Western Europe, only mediocre and low range performers love Canada because they can make it using the politically correct ladders to survive and climbe.

The Ram's picture

Well, maybe he should have been beaten for being so stupid!   Being naive can be very deadly in this world.  Americans have been very naive as a race.  Unfortunately, they believed all the liberal garbage that was given to them by the 'non-educational system.'  

The Ram's picture

Well, maybe he should have been beaten for being so stupid!   Being naive can be very deadly in this world.  Americans have been very naive as a race.  Unfortunately, they believed all the liberal garbage that was given to them by the 'non-educational system.'  

NidStyles's picture

No such thing as the "American Race".

 

The US is fine, and anyone that thinks they will get a better situation in Canada isn't paying attention to what is going on there. Unless you're a Muslim, which means you're on the dole anyways, you are not getting ahead in anything up there. The economy is utter garbage.

 

 

Logan 5's picture
Logan 5 (not verified) Rich Stoehner Mar 17, 2017 12:13 PM

"Isn't Canada in America?"

 

America isn't even in America anymore

ebear's picture

In 1965 our family drove to Disneyland in a car with Alberta plates.  Guy in a gas station in Nevada asked us where the state of Alberta was.  LOL!

political_proxy's picture

Legal, they are prewired by the Gov 24/7 spy, er, observation unit. Smart boxes, smart phones more alike than most care to know.

Raffie's picture

America Dream in KanaDuh? hehe

 

nuubee's picture

There's always the government cheese option, which doesn't just help you reproduce at whim, it subsidizes your single-parent terrors.

Countrybunkererd's picture

Just F**ing shoot me.  I am not living in the real world anymore.  Nothing about Canada, but a smart box as a house?  I painted these rocks in gold metallic paint, they weigh 20 ounces and i will sell them for "100 meelion dollars"  i signed my name on them!  and they are chipped for CIA convenience and YOUR security.

aloha_snakbar's picture

The zoning Nazis in places where they want to drop their boxes will NEVER let that happen...

CPL's picture

Considering up north you can get 20-50 acres uncleared for 35k next to hunting grounds somewhere.  50k is a lot of money for a shipping container.

Oldrepublic's picture

$1800/5000 for one, could be as low as $800

taketheredpill's picture

 

 

Bought 160 acres for $24k (CAD) 6 years ago. 

mary mary's picture

Canada is not on the FED dollar, the 600-pound Thief in the middle of the room that MSM never talks about.

political_proxy's picture

They do have a Rothschild central bank. That much is obvious, otherwise the US would have declared they have WMDs, invaded, deposed (ie: killed) their leader and run off leaving the remains to implode.

mary mary's picture

I know.  Just pounding it in every chance I get.   :-)

Rich Stoehner's picture

Are they not subservient to the BOE?

mary mary's picture

Yes, and BOE is Rothschild.  Ever since Waterloo.

TRM's picture

No no no. They sell oil for ONLY US dollars. They are safe as long as they do that.

Northern Flicker's picture

The Bank of Canada is technically owned by Canadians, but has been "loaned-out" to the Rothschild Banking System since 1974.  Before 1974, Canada was basically a "debt-free" country.

HRClinton's picture

Guess who was the Canadian PM in 1974?

Could it have been Trudeau Sr?

TRM's picture

Any profit from the Bank of Canada (their central bank) goes back to the finance minister's portfolio (i.e. general revenues) for the government to squander some other way.

taketheredpill's picture

 

 

We will build a Great Wall on the 49th Parallel...

Mimir's picture

Who is supposed to pay that now ?? 

mary mary's picture

In the South, we just rent a U-Haul trailer and take it out into the woods, and then it sinks into a swamp or something, and the alligators push it around and make a nest out of it, and noone can ever find it, but you're welcome to try.

(Just kidding. :*)

DosZap's picture

Wonder if ALL the wetbacks headed that way have called ahead.Canada hasn't a clue whats headed their wait.Bye Bye Socialistic Services.

mary mary's picture

Chicagoans need to do an Exodus to Canada.  Their trail of tears.  Their million-EBT-march.  Their lonely trek over the snowswept plains and across the mighty lakes to the promised land in the north, the land of Northern Lights and Healthcare and Subsidies and Love for all...  CANADA HERE THEY COME!

taketheredpill's picture

 

 

Is it the GINI Index that measures potential for Upward Mobility?  Last time I looked the US was near the bottom AND the UK was right next to it.

 

Philo Beddoe's picture

I was born in the bottom fifth and migrated to the top fifth as have a shitload of ZHers it seems. That is the furstration...knowing that it is more difficult to do this with every passing year.  

That said, I sure do enjoy watching people in the top fifth falling down the ladder especially when they have been carried to the top. 

Ignatius's picture

I already have a "smart toilet."

It just sits there with what the Brits term, "a stiff upper lip," never complains, sometimes prefers a hat, and knows that this is life, you're gonna eat some shit, and it is not going to get any better.  Deal with it, and it does.

unsafe-space-time's picture

I need a militia to take over Canada and create a new country.

CRM114's picture

You tried that once - you got the White House burned down for your troubles ;)

Cardinal Fang's picture

No you can't.

It's a cold bitch up there.

Remember, it's all North of Fucking Minnesota.

DieSocialJusticeWankers's picture

Toronto is way south of Minnesota

TheVillageIdiot's picture

Until they get rewritten by Gurgle or Dikipedia...

CRM114's picture

Typical of an academic economist to equate progress purely to income.

Progress is about independence, and freedom from want, and the pursuit of happiness (now where have I heard that before?;) ).

As it happens, I think the US is behind on that too now.

As for homes, the problem is the corrupt restrictions put on owner builders by Government at the behest oftheir construction company sponsors.