Well the Loonie's brief foray onto the wild side appears to have been short lived. According to XE.com (at the time I'm writing this) the Greenback is now trading at 1.00096 against the Cdn. dollar.
Of course, it might be a while before we actually realize a par dollar (because of the actual exchange profits the bank or PayPal make) but it is kinda symbolic and a positive in what is otherwise a somewhat sluggish holiday selling season. The higher Loonie certainly has had an impact on my US sales this season while my domestic sales have risen.
Of course, it might be a while before we actually realize a par dollar (because of the actual exchange profits the bank or PayPal make) but it is kinda symbolic and a positive in what is otherwise a somewhat sluggish holiday selling season. The higher Loonie certainly has had an impact on my US sales this season while my domestic sales have risen.
Bill
treasure-pot
Co-Author of
My US sales have dropped, but my Canadian Sales are jumped up like higher then my US sales used to be, so Im happy 🙂
OPEC is not talking about changing to another currency - only members Iran and Venezuela are promoting this idea - largely because they don't depend on US sales and because they have an axe to grind. The balance of OPEC members rely heavily on sales to the USA and so have little support for the notion.
Bill
treasure-pot
Co-Author of
Excited?? I think I used the word "positive". I'll get excited if the Loonie drops to seventy-five cents again. lol
Bill
treasure-pot
Co-Author of
and decrease your purchasing power by 30%
When I actually start seeing any of these gains...then I'll be happy. Sadly prices haven't dropped like they should have. In fact car dealerships in the U.S. have been told NOT to sell to Canadians and prices haven't dropped to match the U.S. here. So much for a higher dollar.
When I actually start seeing any of these gains...then I'll be happy. Sadly prices haven't dropped like they should have. In fact car dealerships in the U.S. have been told NOT to sell to Canadians and prices haven't dropped to match the U.S. here. So much for a higher dollar.
Because you get few bucks more on eBay are you willing to let your RRSP and savings devaluate and decrease your purchasing power by 30%
Huh?
Sorry... all inaccurate. I appreciate your concern but I assure you my portfolio did not depreciate (and certainly not by 30%) while the Loonie floundered at $.66 vs the USD. In fact, ask any manufacturer that exports and they will likely tell you that a strong USD is very good for business and prosperity. Why do you think manufacturers have been cryin the blues in recent months? Why is the forest product sector closing plants if not for the high Loonie in relation to it's US counterpart.
Face it - we live in a country that depends heavily on our ability to compete in world markets. We are more competitive when the US dollar is stronger than the Loonie. The fact that Canadian sellers on eBay also find it good for their businesses speaks volumes.
Huh?
Sorry... all inaccurate. I appreciate your concern but I assure you my portfolio did not depreciate (and certainly not by 30%) while the Loonie floundered at $.66 vs the USD. In fact, ask any manufacturer that exports and they will likely tell you that a strong USD is very good for business and prosperity. Why do you think manufacturers have been cryin the blues in recent months? Why is the forest product sector closing plants if not for the high Loonie in relation to it's US counterpart.
Face it - we live in a country that depends heavily on our ability to compete in world markets. We are more competitive when the US dollar is stronger than the Loonie. The fact that Canadian sellers on eBay also find it good for their businesses speaks volumes.
Bill
treasure-pot
Co-Author of
A world market that uses the USD as it's primary currency. Convenience has little to do with it except for the Americans. The USA is a nation that imports raw materials and we are a country that ships (primarily) raw materials. We are close at hand and they have been happy to take everything we offer because of that convenience and because we built our economy on supplying US factories.
What will continue to hurt Canada is the reduced demand in the USA for Canadian raw materials because their manufacturing jobs are being sent to the third world and emerging economies. Fewer plants require less raw materials. Canada has been working on shifting it's economy from raw material suppliers to finished goods for years but our manufacturing sector is still not as efficient as it needs to be to capture a significant portion of the US market unless we have the advantage of a weak Loonie in relation to the Greenback.
But import gets cheaper
Yes they do - larger because the USD is a world trading currency and not because the products are necessarily manufactured in the USA. As the USD has lost ground against the CAD, exporters from around the world now can offer their products more cheaply to Canada.
What will continue to hurt Canada is the reduced demand in the USA for Canadian raw materials because their manufacturing jobs are being sent to the third world and emerging economies. Fewer plants require less raw materials. Canada has been working on shifting it's economy from raw material suppliers to finished goods for years but our manufacturing sector is still not as efficient as it needs to be to capture a significant portion of the US market unless we have the advantage of a weak Loonie in relation to the Greenback.
But import gets cheaper
Yes they do - larger because the USD is a world trading currency and not because the products are necessarily manufactured in the USA. As the USD has lost ground against the CAD, exporters from around the world now can offer their products more cheaply to Canada.
Bill
treasure-pot
Co-Author of
only 82% of 33% of GDP depends on export to USA
ONLY? Are you kidding me?
Do you mind if I ask where your business degree is from? Seriously, I'm not trying to be sarcastic, I'm actually curious.
ONLY? Are you kidding me?
Do you mind if I ask where your business degree is from? Seriously, I'm not trying to be sarcastic, I'm actually curious.
The very steep dive the USD took was caused by some surplus cash being dissolved by people who were getting rid of the currency.
No...actually it has much more to do with certain other factors:
* excess out-sourcing of labor by major corporations
* excess spending (~ $91,000.00 PER PERSON PER YEAR) on a totally insane military offensive in Iraq
* resulting instability in the price of oil dramatically impacting the cost of domestic production
* a refusal to adjust interest rates in order to support a weakened U.S. dollar
* the amazing rise in cheap production and export of products from China (whose government is obviously MUCH smarter than those dweebs to the south)
* and...the refusal of the U.S. media to acknowledge all of the above and wake people the hell up down there
The truth of the matter is that not many of the people and/or nations that hold a lot of U.S. currency reserves have let them go as of yet. Why? George W quietly sent out envoys LAST YEAR warning certain nations (such as China) that if they did not prop up the U.S. dollar they would risk bans on imports into the U.S. thereby losing a very lucrative market.
Yes, the are all trying to ride the dying U.S. economy as long as they can, but eventually it just isn't going to work anymore. The U.S. dollar is now on the verge of collapse and I personally believe the crash will be worse than than any seen in recent history.
The sky is falling for heaven's sake! LOL
No...actually it has much more to do with certain other factors:
* excess out-sourcing of labor by major corporations
* excess spending (~ $91,000.00 PER PERSON PER YEAR) on a totally insane military offensive in Iraq
* resulting instability in the price of oil dramatically impacting the cost of domestic production
* a refusal to adjust interest rates in order to support a weakened U.S. dollar
* the amazing rise in cheap production and export of products from China (whose government is obviously MUCH smarter than those dweebs to the south)
* and...the refusal of the U.S. media to acknowledge all of the above and wake people the hell up down there
The truth of the matter is that not many of the people and/or nations that hold a lot of U.S. currency reserves have let them go as of yet. Why? George W quietly sent out envoys LAST YEAR warning certain nations (such as China) that if they did not prop up the U.S. dollar they would risk bans on imports into the U.S. thereby losing a very lucrative market.
Yes, the are all trying to ride the dying U.S. economy as long as they can, but eventually it just isn't going to work anymore. The U.S. dollar is now on the verge of collapse and I personally believe the crash will be worse than than any seen in recent history.
The sky is falling for heaven's sake! LOL
