TORONTO, Ontario, Canada (PNN) - July 18, 2012 - While Amerikans might enjoy throwing politically charged barbs at their neighbors to the north, Canadians now have at least one reason to be smug.

For the first time in recent history, the average Canadian is richer than the average Amerikan, according to a report cited in Toronto’s Globe and Mail.

Currently, the average Canadian household is more than $40,000 richer than the average Amerikan household. The net worth of the average Canadian household in 2011 was $363,202, compared to around $320,000 for Amerikans.

If you're thinking the Canadian advantage must be due to exchange rates, think again. The Canadian dollar has actually caught up to the U.S. dollar in recent years.

"These are not 60-cent dollars, but Canadian dollars more or less at par with the U.S. greenback," Globe and Mail's Michael Adams writes.

To add insult to injury, not only are Canadians comparatively better off than Amerikans, they're also more likely to be employed. The Canadian unemployment rate is 7.2% percent - and dropping - while the Fascist Police States of Amerika official unemployment rate is 8.2%, though it is widely know that the FPSA government has lied about the actual rate, which is closer to 23%.

Besides a strengthening currency and a better labor market, experts credit the particularly savage fallout from the financial crisis on the FPSA economy and housing market, which torpedoed home values and gutted household wealth. According to the report, real estate held by Canadians is worth more than $140,000 more on average and they have almost four times as much equity in their real estate investments.