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Devanchya
Smile
Premium
join:2003-12-09
Ajax, ON | Re: Loonie keeps going DOWN! :p This is due to North American worries over the credit issues.
*yawn* | |
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Phorkster
Premium
join:2004-06-27
Windsor, ON | Bring in the Amero ! BTW There are no credit worries in Canada, not like in the US, so this shouldn't be a factor. | |
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Devanchya
Smile
Premium
join:2003-12-09
Ajax, ON | Re: Loonie keeps going DOWN! :p It's a north american currency thing... trade, stuff like that. | |
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Happyrat
Google Is Your Best Friend
Premium
join:2002-07-01
Disneyland
2 edits | Part of the cause is the sub prime mortgage fiasco in the US, but the other cause is rising commodity prices and $100 a barrel oil.
These are all the factors that are pushing us up against the US dollar...
[EDIT]
The trillion dollar a year black hole that the Americans are shovelling money into in Iraq doesn't exactly help their case either... Gov't spending is a key cause of inflation and military spending generally is one of the worst...
[EDIT]
Plus I almost forgot America's $6 trillion trade deficit with China...
America: She in deep doodoo...
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So... WHEN exactly does Hell freeze over anyway? »fuzzyrat.com | |
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Devanchya
Smile
Premium
join:2003-12-09
Ajax, ON | Re: Loonie keeps going DOWN! :p so sad.
Had to buy US cash today for a trip I'm making (no optional), and spent 6 extra on the US cash.
Banks have us under par again... | |
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capdjq
Carpe Diem
Premium
join:2000-11-01
Vancouver
| A good thing for us Consumers not a good thing for the Export economy, in the long run. 60%-70% of our trade is with the US. The Lumber industry has already had massive layoffs in BC, with mills shutting down. The movie industry has received massive subsidies from our Province to keep it competitive.
About the only good news for Industry is they can upgrade their aging equipment cheaper to be more competitive and increase productivity.
The US will soon gain by the lower US dollar. Foreign Companies will find it cheaper to open manufacturing plants in the US and IT companies can soon relocate from India as their costs rise in those countries.
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Good judgement comes from experience, and experience comes from bad judgement. | |
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dirtyjeffer
Merry Christmas
Premium
join:2002-02-21
London, ON | Re: Loonie keeps going DOWN! :p there is an auto parts plant (they make door panels etc) near my work that has 4 months to find a buyer...if the company isn't bought, belly up it goes. | |
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The Flash
You don't win friends with salad
Premium
join:2002-10-17
Toronto, ON | It's under now
0.98500 | |
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TI POIL
join:2006-03-05
Toronto, ON | S**t, no more ebay shopping spree | |
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Telly Boot
Premium
join:2002-05-15
Vancouver, BC
 ·TELUS
| It's due to the Bank of Canada cutting interest rates, and if the US cuts interest rates in a week it will go up again.
Investment money is following the higher interest rates: it's not really anything more than that.
Look on the bright side: lower interest rates coming, and lower CDN dollar helps Canadian export businesses.
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Dawn,n,The time when men of reason go to bed. (Ambrose Bierce.) | |
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Styvas
Go Canucks Go
Premium
join:2004-09-15
Waterloo, ON | Re: Loonie keeps going DOWN! :p And my mortgage payment just dropped. Nice! | |
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Warez_Zealot
Rural land of the rising sun
join:2006-04-19
japan | It will be interesting to see what happens to the US economy after the American election and the Olympics next year. | |
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Hehe. But in all seriousness, the dollar is better off at this level. Much safer at this point. Would be perfect if it stayed at this point without too much fluctuation but... that never happens in the business world now does it 
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