Canadian dollar now worth MORE than greenback

wow......

I had to exchange $2200 USD yesterday and I got like $2130 CAD.

It's ridiculous.

And what pisses me off is when you buy something online. IT'S NOT COSTING LESS

In fact, we are being charged like if it was 1.05$ versus 1.00$

We've taken a 60% "pay cut" from 6 years ago.

I think we made fun of it not because of its worth... but because of all the monopoly-esque colors used in its printing.

Paybacks are a bitch!

Why should have made 60% more?

Now that the shoe is on the other foot your crying like a baby. Get over it!!

All I've been reading about lately is how prices haven't gone down in Canada to make up for the stronger dollar. So basically they are taking advantage of the exchange rate to charge us 25% more for everything.

However Porsche Canada just announced that their 2008 models will be at least 10% cheaper than the 2007 models.

Fortunately I'm in the market for a new car.


Barry

Almost forgot.

LOL yes but now it's worth enough to buy Boardwalk and Park Place.


Barry

Long live US, long live Bush.

it's time for canadian and european to import cars for USA. contact me if you want car for the states ill do all the paper, border and inspect for you


english site is coming soon


[email protected]

icq : 3439321

big deal, you guys pay for everything with this anyway

Great for buying shit from the US online, not great because my cheques are in USD.

What is Canada's contribution to world economics?

... and yours to humanity ????

This is soooo sad
WG

its funny because the prices in canada are still at least 40-60% more

will be greath for US export!!

Maybe it's time to start selling my memberships in Canadian dollars.


Barry

Duh? The US has something to export??? Don't think so....

OK.. To be fair, the only two items which are exported with a postive trade balance is wheat and bombs - everything else has been a dismal failure for around 40 years.

Seriously - that is one sad scenario.

dayam ..

Low dollar means imports will decrease and exports will increase. One of the reason we had such a huge trade gap was because the dollar was so strong. This should even things out a bit.

could also mean inflation ....

So damn true

The data that came out shows that it really wasn't bad and thus the reason for the aggressive drop in interest rates. It's a 5 year low for inflation. I think Europe is in much worse shape when it comes to inflation.

Still, there is a chance we'll hit a recession by next year. Most experts are giving it a 1 in 3 chance.

Don't forget to also mess with them over having to listen to them calling our money "monopoly" money because of the colors...

http://en.wikipedia.org/wiki/United_...ve-dollar_bill

That big purple 5 on there is hillarious.

What is your level of education?

.

The theory sounds good pk, but reality is a little different. But, sure, there should be at least some increase in exports which will obviously help.

Reality is the 40ish year trade deficit and a reliance on imported product. Can't see that changing one bit other than an an upwards cost of imports (because they are gonna be paid by currently weak dollars). Imports grossly overwhelm any exports and it would take a total industrial revolution to begin to balance that scenario and have "exportable goods" to offer.

For good or bad - tho suspect more bad, - the dollar will continue to decline for... who knows, but possibly ten years ahead. There is nothing on the horizon to give any hope of otherwise and a serious debt problem where utterances from the Fed and ex-Fed reps suggest a problem even paying interest on the debt. This is total shit news and not helped by the stupid oil consumption which contributes to around at least 30%+ of the trade deficit. If that was reduced even fractionally - it would help a lot, but not likely to happen. The sooner "someone" addresses this problem, the better. It is being ignored by the current incompetent mob who obviously just don't care.

GreyWolf, what do you think about China's massive exports to the US and how it affects the US economy?

Later,

.

I'm just speaking objectionally from what a lot of economic analysts have said. You are just saying whatever would make the US looks bad. It's not a difference in reality, just which one of us has an agenda behind us.

I think a 10 year fall is impossible to predict. There are a ton of variables in place and we have never seen these circumstances before in economic history. I'm not sure I agree with what Bernanke did by lowering interest rates as I felt some of those industries needed to pay a price for their mistakes and the most important factor is inflation. But he feels liquidity is more important, and that then he can raise interest rates and strengthen the dollar again. It'll be interesting to see if he's right, I think he is a bright man.

Nonetheless, the US Dollar was overpriced at the beginning of the decade. Imports kept expanding while exports were negative. We're seeing that finally correct itself as imports are down and exports are up. But the dollar will continue to fall for awhile and I foresee it at $1.50 to the Euro by the end of the year. A recession would suck for everyone on the board, but might be best for the long term. I'm not horribly opposed to it in my current situation. Still, it's just part of the game and all we can do is ride the ups and downs like everyone else.

they need to much fuel!
and if money is no issue, you'll buy a European luxury car

All I know is that this is making me poorer every day.

stop spreading that line, that's what got you in this mess, by relying on that logic

the US imports too much for that to make a positive difference, also remember Bush has been giving subsidies to companies to relocate their manifacturing facilities abroad

Germany exports more than the US, Belgium (10 million people) exports 1/3 of what the US exports, you don't find American products in Europe, excepts maybe some cars.

thx good information)

nice one to canada

but what's the reason why USD is going down ??

Glad to be phasing out of adult and focusing on local mainstream market making my living in Canadian dollars

Bush's policies: economic policies (subsidising outsourcing, loaning so much from foreign countries like China), the Iraq War, corruption (allowing/enabling war profiteering by companies as Halliburton), ...

basically this administration has sold out the country and it's people, they should be condemned for treason

Oh come on. Blaming the entire fall of the dollar on Bush is a tad ignorant. The trade deficit started in the 90's before he was even in power. While Congress and himself haven't done much to help the problem, they are not the only ones to blame.

Bush and co made it spiral out of control

+ it's not only the trade deficit! Who started the Iraq War? who is in charge of outsourcing the war to private firms? who is loaning all these billions? who has doubled the national debt in his presidency?

answer: Bush Bush Bush Bush

he is a traitor to his country and a war criminal to the rest of the world

We also have a Congress that approves these things. A Congress that feels it's important to spend money on Creationist Museums and Shrimp Boat Marketing. They spent 2 million dollars on a Teapot Museum this year and millions on an airport in Chicago that doesn't exist. They signed a Medicare deal that would make you throw up.

Bush is responsible for a lot of the spending, but so is an out of control Congress.

a Congress that was under his party's control, a Congress that did everything he wanted, face it:
the Republicans caused this, this is what you get when you
a) make it legal for corporations to donate to candidates (in Europe and probably most of the world this is illegal and called bribery/corruption)
b) elect a party that hates government, they will run it, so it indeed will not work, don't you people wonder why a lot of stuff (health care, pensions, ...) run by government does work in so many countries
c) have an electorate that is so stupid that it gets bend out of shape over a fucking blowjob

Bush's Medicare deal is a clear example of this corruption: big pharma wrote that bill! Saw this docu about it, made me wanna puke.

PS: don't forget what fascism is really about: forget the racism, that's to make the medicine go down, just like "family values", the true core is economical: it's a system where government and business are in bed together on the expense of the general populace.

We've got room for you up here in Canada!


Barry
P.S. Hope to see you soon

You can start with their percentage of oil, and work from there..

It's called raw material to China chief.

Very nice

I Get Money I-i Get Money

Won't be long until the aussie is worth more as well....

it couldn't be :P .

I am doing the same thing PK - looking at a series of financial data and trends over the years. This has nothing to do with "making the US look bad" - economically it is astoundingly bad and there is no point in glossing that under the carpet. If anything, I feel fucking angry that this situation was allowed to roll on in a credit card lala land with building debt and increasingly supported by other nations. Who pays the bill for this debt in the end??? Future generations - they will not be thanking anyone for their neglect. In addition, apart from US folks - this idiot behavior will cause ripples elsewhere and again, there will be no thanks for that.

Sure, a ten year fall in the dollar is kinda speculative and was a suggested possibility more based on a lack of ability to generate a sustainable economic future in the short term. This situation does not exist at this time and it takes a considerable volume of money and work over a series of years to begin to turn that around and it sure won't happen like magic in eg a five year term.

The US is in a situation not dissimiliar to most "western countries" in that there is a global economic shift away from these nations and rising economies elsewhere, particularly in Asia. That may be fine for western nations who currently operate balanced economies, where they have more chance of managing that change. If a western country is deep in debt and not productive to the level where it can not keep it's trade balance under control - it's going to be much harder to compete and be sustainable while economic global shifts are happening. These shifts are already happening now.

Totally agree on liquidity - even the largest corp can go bust without it. However, playing games with liquidity in a volatile and possibily unsustainable market can be like throwing good money into the air and watching it dribble down a drain. In effect, depending on whether there is control and where that liquidity is directed , - it's another unsustainable fantasy and short-lived. Unforunately that has been the past track record - not only sqaundering that actual injection, but shooting ahead and borrowing even more and using assets to support further borrowings. It's a totally unreal economic fantasy and no hope in hell of being sustainable.

Have you actually looked at the US balance sheet lately? Last time I took time out to read it all was 2005. This was fine on the summary first page - it showed a deficit, but nothing which would frighten anyone. However, there were extensive numbered commented notes on page one and that where the problem starts. When you looked at what had been swept under the carpet and not included in the main statement - it was a damned horror story and showed a nation deep in debt and in a totally unfit state to pay it's bills. I can't say, but would question even the ability to pay interest on these levels of debt and can see govt failing to even meet it's commitments to it's own citizens at some shortish future time.

Gotta say PK, I have no confidence that govt or whoever will, or even has the ability, to start on a viable path to a stable economy - it involves more than just govt. It is a massive task and is certainly in the league of decades as oppose to a few years. This lack of confidence is strengthen by the fact that govt elects to ignore it's own treasury findings and recommendations. In 2002 (or maybe 2003), the US Treasury finally published the most extensive report ever on the economy (took em 15 years). Within the week this was wiped under the carpet, a common habit, and followed up by fantasy policies of how the economy is wonderful blah. The content of the report was damning and simply showed the effects of a prolonged ineffective fiscal policy over decades and a tendency to borrow more than was prudent. Simplified examples - 94% of all homes and contents was actually debt (and sure is hell that is now well over 100%). Solutions were also recommended - but they were a horror story which no govt would like to deliver to it's electorate - so it was ignored.

It's hard to predict actual recession - that can happen thru even small external ripples, especially when around 46% of debt is in external control. If the dollar keeps declining, any action OPEC may take to cut their petro-dollar losses would have dramatic, and possibly permanent, effects on the dollar. Internally, there is a severe lack of an industrial base - this is probably one of the strongest areas as a shelter from recession - plus it obviously generates wealth internally and can help with international trading etc.

Believe me - it will be more than this board where there is a problem if the dollar continues to decline, forget any possible recession. This board will be less than a grain of sand in the overall scenario.

Na.. contrary to what you think - this is not crap about making countries look bad. It's about probably the biggest international debt problem on the planet and having mechanisms in place to begin to repay that debt and while currency remains under pressure - it's more serious than just country bullshit and can seriously affect millions of US people (who never played a role in this) and others elsewhere. OK, enough - I'm staying well clear