Many Canadians Pessimistic About Future

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37% Think Next Generation Will Be Worse Off

An article in the Globe and Mail quotes a Nanos Research poll in which 37% of 1,000 respondents felt the next generation will be worse off than Canadians are today, just 25% said they believed the next generation will be in better shape.

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Are We Really Better Off 

Or Just More Delusional? 

A lot of what allowed us baby boomers to enjoy a 'better' living standard was the fact we allowed ourselves to have 'stuff' without paying for it and the ensuing credit generation kept a lot of people busy making 'stuff' we could indulge ourselves with, without having to actually earn the money to pay for it.

The same philosophy has applied to much of our infrastructure and safety nets, in that we have indulged ourselves with them today without actually having paid for them. Again, we have put them on the national credit card in the form of provincial and federal deficits.

We have 'make believe' real estate wealth that has little basis in reality with 'bubbles' bursting here and there all the time. This make-believe wealth has allowed us to lever this phantom wealth making it possible to indulge ourselves even further.

So, will the next generation be worse off than we were? That might depend on how many creative ways they can invent to support their standard of living without having to pay for it either!