The True Value of Canada: Beyond Economic Measures
When considering the cost and value of Canada, it is important to look beyond the traditional financial measures often used. In this article, we will explore how the country's diverse resources contribute to its true value. We will also discuss the current economic value of Canada and the challenges it faces in the global financial system.
Economic Measures and Beyond
According to the Bank of Canada's Balance Sheet a couple of years ago, the total assets and liabilities amounted to 22 trillion. With an annual GDP of about 2 trillion, the Federal Budget close to 600 billion, and a Federal debt of 2 trillion, these figures represent merely our financial worth. However, when we evaluate the nation's resources—human, physical, informational, technological, and financial—the true value far exceeds these monetary figures.
Given the effective economic status as an American colony, the United States values the Canadian currency around 70% of the U.S. dollar, making Canada worth approximately 15.4 trillion U.S. dollars. My estimate puts the total value of Canada's five resources at over 100 trillion Canadian dollars. Comparatively, the value of the United States' resources, adjusted per capita, is estimated to be around 800 trillion dollars. This suggests a higher quality and quantity of resources in Canada, making it significantly more valuable on a per capita basis.
Debt Capitalism and the Future of Value
Until recently, the value of money was tied to gold or land under a gold or land-backed monetary system. With the current debt capitalist system, the value of everything is highly variable. The U.S.-based monetary system is technically bankrupt, as it is primarily debt-based rather than rooted in intrinsic values like gold or land.
To return to solvency, economies must base currency values on gold, land, or total resources for intrinsic valuation. Until this occurs, we will not achieve solvency under an equity capitalist framework. Achieving this is unlikely without altering the current wealth distribution, detaxing middle classes, and moving towards a more equitable distribution of wealth from GDP growth. This will create a more competitive market environment, leading to the development of new products, services, and markets, and the reduction of global oligopolies.
Cost of Living and Travel Expenses
Beyond the economic value, understanding the cost of living in different parts of Canada is essential. Cities like Toronto and Vancouver have a high cost of living, particularly due to high housing expenses. In contrast, smaller cities and rural areas tend to be more affordable. Travel expenses in Canada also vary depending on your location, the season, and the duration of your stay. Airfare, accommodation, food, and activities are major expenses to consider.
The nominal GDP of Canada in 2022 was approximately 2.14 trillion U.S. dollars, making it one of the largest economies in the world. However, the true value of Canada surpasses these figures when considering its diverse and high-quality resources. It is crucial to recognize that while economic measures are essential, they do not fully capture the true essence of a nation like Canada.
In conclusion, the value of Canada extends far beyond its financial measures. The nation's resources contribute significantly to its true worth, making it a valuable asset not just economically but in many other dimensions as well.