Whohoooooooooooooooo (and climbing!)
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ICQ: 298-523-037 -
ICQ: 298-523-037 -
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Damn! Looks like all us Canucks are getting raises this month!!Comment
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PS: Can anyone explain why this is happening. Especially with everything going on right now in the US economy (bailout, lowered interest rates, etc etc)ICQ: 298-523-037Comment
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The same thing is happening to the Canadian economy, we're just better equipped to deal with it... our banks and such, that is. Our economy is tanking with the rest of the world (just look at the TSX as an example), we're just not hitting rock bottom as fast.
So our dollar is falling... which is bad for big business but great for those of us who get a USD paycheck.Comment
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hoping for a pay raise like the old days...1 USD = 1.6 CAD
hehComment
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Here's a good article that sheds some light on what's happening to the CND....
http://www.bloomberg.com/apps/news?p...s&refer=canadaComment
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its a glitch, watch it next weekDon't let greediness blur your vision | You gotta let some shit slide
icq - 441-456-888Comment
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If we haven't had any negative growth how has our economy tanked? I guess if you hear enough talking heads say it then you believe it. Just last night I saw multiple newscast discussing the great depression and how people lived through it and what you can do to get through this crisis. As if we are in anything close to the great depression in Canada. They all left out the fact that economies shrank by 20%+ during the depression. Thats a hell of a lot different then the stock markets losing 20%+.
One of the main reasons for the Canadian dollar dropping in value can be summed up in two words, commodity prices.Last edited by yys; 10-09-2008, 08:14 AM.Comment
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I am also curious. That really doesn't make any sense.Comment
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amazing , last time u saw this was in 07Comment
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I didn't say it did tank, I said it's tanking. They are all over the world. The stocks dropping is just an example to demonstrate that it is.
Based on previous threads, I'm quite positive you wouldn't understand.
"weeker" huh? Making up words is awesome.Comment
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Right now here in mexico we are at 1$ = 12.28 pesos.PornGuy skype me pornguy_epic
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Canadian economy is expected to post modest growth in '09
Canadian retail sales expected to grow in '09
Housing starts up on a year over year basis in '08
Federal government is running a surplus.
Pension system(CPP) is fully funded unlike most developed countries. Can you image either McCain or Obama telling Americans about the real and hard choices that need to be made to fix their pension system?
etc...
Over the past 15 years Canadian governments have made hard choices and managed our finances quite well and this has left us the envy of many a world government.
Well the Canadian economy is not immune to what is going on in the world we are in a much better position to deal it then most of the developed and developing world.Last edited by yys; 10-09-2008, 08:36 AM.Comment
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Yes, that's exactly what I'm saying in other words. Pure genius that you can translate something totally different from what I actually said, but just to appease your all mighty inability to read, here's some more to read wrong:
http://www.thestar.com/News/Canada/article/514250
http://www.guardian.co.uk/business/feedarticle/7845337
http://canadianpress.google.com/arti...cmStIB6MqclTcQ
And yvs further proves it in his latest post... but to combat a portion of it, we are on the brink of a recession, that doesn't mean it's tanked, it means we're in danger.
http://www.financialpost.com/small_b...html?id=863854Comment
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I fuckin looovvveee it
Skype: hazegsmComment
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The initial presumption was that the US would be first into recession and have more problems than everyone else.There was even much discussion about decoupling. That maybe the US could go into a recession without dragging other countries in.
Now it is clear that there are systemic issues in many countries. Not just the US. For multiple reasons banks are distressed all over the world. I think once that became clear the dollar started to rise. Gaining back some of the earlier losses.
As far as Canada i do agree that Canada is a fundamentally strong economy compared to many others. However 33% of Canada's GDP is exports and 80% of those exports are to the US. So you are looking at roughly 1/4 of Canada's entire GDP being exports to the US. It is unclear how much exports to the US will suffer in a US slowdown.
skype = "adultdatelink"Comment
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Canada and actually Europe too will enter recession and stay in it longer than the USA. Mark my words.
So now do you have some opinion pieces to show us that support your claim that a falling dollar is bad for big business? When it becomes cheaper for people from other countries to do business with Canadians, that somehow hurts Canadian business???Last edited by WarChild; 10-09-2008, 08:58 AM..Comment
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For reference.
US Recessions
1980/82. US - 2.9%. Canada -3.3%
1991 US -1.5% Canada -3%
2001 US -.6% Canada +.1%
skype = "adultdatelink"Comment
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Sweet! :DICQ: 91139591Comment
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I agree that it is unclear how much the slowdown in the U.S. market will affect our economy by depressing demand for our manufactured products. I'd say if you work in a manufacturing plant that is reliant on the U.S. market, you're in for a shitty few years. I certainly wouldn't want to be an auto worker or parts maker right now.
However something like 40%-50% of our total exports to the U.S. are made up of commodities; I don't see a huge decline in those. Oil makes up a large percentage of these exports and the amount shipped each year continues to grow. Oil and other commodities are dropping in price but the falling Canadian dollar will help take a bit of the sting out of that. So now we are down to about 12.5% of our GDP that is tied to exports to the U.S.A. that could be severely effected. How much of that slack the Canadian consumer can pick up will be the key.Last edited by yys; 10-09-2008, 09:16 AM.Comment
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relax and enjoy
i see reversal now(one week) i see it'll grow upupup lets wait and see
p.s full time yen trader now
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Weaker Cad$ is going to help exporters and those who are paid in USD yet live in Canada.
Weaker Cad$ is going to hurt cross border shoppers ;)
I'm laughing all the way to the bank however...Comment
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Look, you originally stated that Canada is "better equipped to deal with it" and that a falling Canadian dollar is bad for big business.
I'm asking you why _you_ think Canada is better equipped to deal with recession than the US is? Iinstead what you've posted is some other people's oppinion pieces and now you're calling it research.
Canada will enter recession faster and stay in it longer than the US. Some of the big members of the EU are technically about to enter recession already. They'll also stay in it longer than the US. We'll all be able to look back at this post in a few years and remark how I was right, once again.Last edited by WarChild; 10-09-2008, 09:33 AM..Comment
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Bam, and more news that the situation in Canada is nothing like what is going on in the U.S. or some E.U. countries. Next time you hear someone repeat chicken little Dion or Layton talking points mention this.
Has anyone else wanted to reach through the T.V. and smack these two for the shrill panic they have been trying to incite for political gain this past week. If you listened to either Dion or Layton over the past week you would have thought our banking system was about to collapse.Canadian banks the soundest in the world: report
Updated Thu. Oct. 9 2008 1:19 PM ET
CTV.ca News Staff
In the midst of a global market crisis, a survey by the World Economic Forum has proclaimed Canada to have the world's soundest banking system.
Placing just behind were Sweden, Luxembourg, Australia and Denmark in the World Economic Forum's Global Competitiveness Report, released on Wednesday in Switzerland.
Corporate executives around the world were interviewed on a number of questions and ranked banks around the world on a scale of one to seven -- one being insolvent and possibly in need of government assistance and seven being entirely healthy.
Canada was given a rating of 6.8, the best ranking of any banking system in the world.
The top 10 soundest banking countries are as follows:
* Canada (6.8)
* Sweden (6.7)
* Luxembourg (6.7)
* Australia (6.7)
* Denmark (6.7)
* Netherlands (6.7)
* Belgium (6.6)
* New Zealand (6.6)
* Ireland (6.6)
* Malta (6.6)
The report was cited by Prime Minister Stephen Harper on Thursday as proof that Canada's banks are the strongest in the world and need no government help.
Harper and Finance Minister Jim Flaherty have ruled out any form of bailout package for Canadian banks.
The BNN's Michael Kane told CTV Newsnet that the results were remarkable in light of the fact that the United States (4.0) and Germany (3.9) fell to the level that banks in very depressed parts of the world sit.
"This is a real feather in the cap of Canadian banks and this sort of buttresses what the government and also what the Bank of Canada has been saying about our system here," Kane said. "We are in relatively good shape."
Kane said Canadian banks are well capitalized and there has never been any threat to the dividend.
"People have not felt bad about putting their money into bank accounts on the retail side or dealing with banks on the small business side. It's very positive."
The report also placed Canada tenth in overall global competitiveness; a list which was topped by the United States.
them
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I knew Canada's banks were sound, I didn't know they rated that high. They're a fucking pain to deal with though.Bam, and more news that the situation in Canada is nothing like what is going on in the U.S. or some E.U. countries. Next time you hear someone repeat chicken little Dion or Layton talking points mention this.
Has anyone else wanted to reach through the T.V. and smack these two for the shrill panic they have been trying to incite for political gain this past week. If you listened to either Dion or Layton over the past week you would have thought our banking system was about to collapse. them
At least there'll be credit available in the coming recession..Comment
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Uhmm... the US is in a recession, Canada isn't. How will Canada enter it faster?
And interestingly enough, people form opinions based on information from other sources. I read, I get an opinion. I posted my opinion, you asked how I came to it, I showed you.
Why am I talking to you again? My 10 month old makes more sense than you do. Best of luck arguing with me, since you only seem interested in doing that. I could say anything and you'll argue it just for the sake of arguing with me. Rather pointless. But you feel free to continue if that's what works for you.Comment
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Do you even know what a recession is generally characterized by?
I'll help you out. The answer is two consecutive quarters of falling real gross national product.
So, is the USA tecnically in a recession? No. In fact there has actually been growth in the last two quarters. They may well be HEADING for a recession though.
4 of the big EU countries are about to post their second consecutive quarterly decrease in GNP however.Last edited by WarChild; 10-09-2008, 09:54 AM..Comment
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Help me out? By telling me something I already know? Thanks. More points for you arguing for the sake of arguing.
http://www.bloomberg.com/apps/news?p...9bo&refer=home
And with that, I'll add you to my ignore list because your time may be better spent arguing for no reason, my isn't. Ciao
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14 points over par, very nice. Let's hope the trend continues. I don't want the Canadian dollar to dwindle in value, I just want the USD to get stronger. Hey it's not MY fault we and pretty much every country of the world measure's the worth of it's currency by comparing it to the US dollar. And who really cares why it's happening. It means more money in your pocket, the end.
I see no need to over-analyze it. :DPromote Wildmatch, ImLive, Sexier.com, and more!!
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Oh no, Stuart's going to ignore me now. I guess I'll have one less idiot to pick on. Woes me..Comment
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I hope it stays at that rate or better.Comment
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we needs to raise your rent canada
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holy shit make that 1.1866ICQ: 298-523-037Comment
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Well, you sure showed me.
http://money.cnn.com/2008/12/01/news...ion=2008120112
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .Comment
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