MIDDLE CLASS ECONOMY

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Canada's Middle Class Shouldn't Celebrate

The New York Times reported that the Canadian middle class is now richer than America's. Given a decade of such U.S. stagnation, it's little wonder that the income gap between previously affluent middle-class Americans and their counterparts in other countries, like Canada, has narrowed. But there's not a lot of satisfaction to be found in our "catching up" mostly because our southern neighbours have fallen back. Celebrating such relative positioning is a bit hollow.