loonie hits 1.02

[chubbdarter]

good.....bad....???

[Topwater]

As much as we like to save some money on our toys that are all imported, Canada is an exporting country and a weak US dollar is really hurting the rest of the country. Its offsetting strong commodities like oil and gas that we get paid for in US money. When the loonie is at 80cents is suppose to be the perfect balance.
Steve

[berjerkin]

As much as we like to save some money on our toys that are all imported, Canada is an exporting country and a weak US dollar is really hurting the rest of the country. Its offsetting strong commodities like oil and gas that we get paid for in US money. When the loonie is at 80cents is suppose to be the perfect balance.
Steve

x2

in the short run, awesome. in the long run, bad news.

[Walleyes]

A sign of things to come. The U.S. is broke and getting worse every day thanks to their Liberal Government and the mentality to spend their way out of debt. That country is in bad shape,, very bad shape,, they are tits up..

Canada on the other hand is probably one of the strongest countries financially speaking in the world right now if not the strongest. As far as an investment country there is no better. We are a peaceful nation, with stable governments and most importantly we have all things that the world needs. A countries wealth these days is built on its oil reserves and Canada is # 2 in the world on that. We have extensive gold, silver, diamonds minerals the list just goes on.

The weak green back in today's market will not affect us as much as it would have 20 years ago. Asia is one of our biggest traders and getting bigger every day.

I predict in the next 5 years a North American currency. The mericans will not be able to pay their debts and will make a deal with Canada and use our reserves to keep their debtors at bay. Heck they own us anyways its just a matter of some paper transfers.

Stay out of the stock market and put your money in commodities specifically gold, silver, diamonds things that can't go broke.. Its going to get bad very bad but there is going to be an opportunity to make some major cash if you do it right.

I am quite enjoying this scenario we are in,, its working out just fine for us and our investments..

[BallCoeff.435]

At par, the Cdn$ is hugely undervalued. It's got to go to 1.45 US in the next couple of years. Maybe stabilizing at 1.65

[herc]

A stronger currency is not all that bad.

Yes it hurts exports but only in the short term. Manufacturing companies will learn to deal with the higher loonie. The huge hit they took in the past few years is due to our "great" :rolleye2: liberal gov't keeping the loonie as low as possible to apease the manufacturing voters. Afterwards the loonie shot up instead of a gradual increase and left manufacturers scrambling. Couple that with the global recession and well we know how it turned out.....

A stronger currency makes us all "richer" in a sense and helps with standard of living. Imported goods will be cheaper and our dollar will go further.

Also a strong loonie will attract foreign investment. People want to invest in something that makes money.

Also don't forget that it makes those trips to Vegas oh so much cheaper! :sHa_shakeshout:

[SonnyJ]

A stronger currency is not all that bad.

Yes it hurts exports but only in the short term. Manufacturing companies will learn to deal with the higher loonie. The huge hit they took in the past few years is due to our "great" :rolleye2: liberal gov't keeping the loonie as low as possible to apease the manufacturing voters. Afterwards the loonie shot up instead of a gradual increase and left manufacturers scrambling. Couple that with the global recession and well we know how it turned out.....

A stronger currency makes us all "richer" in a sense and helps with standard of living. Imported goods will be cheaper and our dollar will go further.

Also a strong loonie will attract foreign investment. People want to invest in something that makes money.

Also don't forget that it makes those trips to Vegas oh so much cheaper! :sHa_shakeshout:

Please explain "short term"..to the folks who just got laid off because thier jobs just went south of the border where the labour is cheaper.

[herc]

Please explain "short term"..to the folks who just got laid off because thier jobs just went south of the border where the labour is cheaper.

I know some people that where laid off and by all means i hope that everybody lands back on their feet. If you or any others took my post as unsympathetic to those people then i apologize.

Unfortunately this is the effect of a "drastically rising loonie". Instead of a gradual increase which gives manufacturers the time to adjust, they need to cut costs to stay afloat and unfortunately that means jobs. With proper fiscal management, manufacturers should be able to regain their financial stabilitly and market share and start hiring again.

The US is also doing what they can to devalue their currency to bolster their exports and create jobs therefore stealing ours.

[SonnyJ]

I know some people that where laid off and by all means i hope that everybody lands back on their feet. If you or any others took my post as unsympathetic to those people then i apologize.

Unfortunately this is the effect of a "drastically rising loonie". Instead of a gradual increase which gives manufacturers the time to adjust, they need to cut costs to stay afloat and unfortunately that means jobs. With proper fiscal management, manufacturers should be able to regain their financial stabilitly and market share and start hiring again.

The US is also doing what they can to devalue their currency to bolster their exports and create jobs therefore stealing ours.


Paid for by the Liberal party of canada...lol

[Mountain Guy]

1.02 means par at the banks on exchange. Threw some more $$ in the Us acct.

[northerntrapper]

herc said:
The US is also doing what they can to devalue their currency to bolster their exports and create jobs therefore stealing ours.[/QUOTE]

In fact, the devaluation of the U.S. dollar is not done intentionally, but is a direct result of them printing more money to cover their deficits, with nothing to back it. It's a slippery slope that could collapse their economy. Right now, they are the 'reserve currency' in the world currency market, but are in danger of losing that status. When that happens, they are a broke country.

[North of Owlseye]

[QUOTE=Walleyes;846485]A sign of things to come. The U.S. is broke and getting worse every day thanks to their Liberal Government and the mentality to spend their way out of debt. That country is in bad shape,, very bad shape,, they are tits up..

Canada on the other hand is probably one of the strongest countries financially speaking in the world right now if not the strongest. As far as an investment country there is no better. We are a peaceful nation, with stable governments and most importantly we have all things that the world needs. A countries wealth these days is built on its oil reserves and Canada is # 2 in the world on that. We have extensive gold, silver, diamonds minerals the list just goes on.

The weak green back in today's market will not affect us as much as it would have 20 years ago. Asia is one of our biggest traders and getting bigger every day.

I predict in the next 5 years a North American currency. The mericans will not be able to pay their debts and will make a deal with Canada and use our reserves to keep their debtors at bay. Heck they own us anyways its just a matter of some paper transfers.

I am getting sick of everyone blaming the current economic times of the US on Obama. The Republcans started selling the 'obama recession' even before he was in office.Eight years of Bush and his very expensive war on terror and two forin wars and dereulation that allowed banks to lend to every bad risk in the country and on and on and the ship was nearly sunk when he left. Obama to try to pick up the peeces and somehow its all his fault in two years. Yeah he spent a lot in a standard move to go into deficit to stimulate a sick economy that he didnot creat. Heres a house that is 1/4 on fire when you get it, now in an hour you have done all the right things to save the house but it is still burning and is acutally more than 1/4 burnt when I come along and say what a terrible job you have done and allowed your house to burn up. Gimme a break.

Have to agree with you on other points tho walleyes - Canadas economy is very strong. And also agree the stong dollar affect us less now than in the past but it stillhas its ups and downs.

I can't see a north america currency like the Euro ever. Independence in the US is just too important - they will never go for it. Now that the euro is a so so currency there is even less reason to copy them.