Currency - redux?

[Ripsnort]

Originally posted by Viking
I've never seen the US $ this low before, must be a record low. It's worth less than half a Pound Sterling and the Euro is now at more than US $1.40. The Aces High subscription now costs me about the same as three bottles of soda.

Not a record low, but a 15 year low.

[Thrawn]

Originally posted by 2bighorn
You are aware that 80% of Canada's export goes to US, right?

Absolutely.  You are aware that last year the US had an over $70 billion trade deficit with Canada?

[2bighorn]

Originally posted by Thrawn
Absolutely.  You are aware that last year the US had an over $70 billion trade deficit with Canada?

Yeah, that's less than 10% of our total.

Point is, majority of your trade and with that your economic well being depends on US.

[Pooh21]

Oregon raised the minimum  wage by 15 cents an hour this month. The guy they were interviewing on the radio was all " This means an increase of $25 a month for hardworking single mothers. She can buy her child a new pair of shoes or a warm winter coat."  I had to pull my truck over and weep openly that is so touching.


Then I remember my lunch and everything else will get a little more expensive to buy that little person of illegitimate birth's coat  I hope hes happy.

[ghi]

Originally posted by Thrawn
Today, the Canadian dollar reached parity with the US dollar.

 I noticed today in news, but that's bad, for the canadian economy, the interest rate was raised twice in last 3 months, and are going to incresse it again soon,we'll pay mortgages with 10%+ next year,Anyway the cost of living here in Ontario is way higher than most of US,  Look at same car in US and here, 15-20% more expensive in Canada,go on Bestbuy.ca and to BestBuy US compare the price for same TV or other electronic stuff,:  i payed 99 cents/l today in Toronto for 1 litre of gas, that's 3.6UDS/gal, more expensive than most of US, The average sale price for a house in GTA is about 360 000 $, you can buy same house with 120-150k in Dallas, Detroit, Indi, most of Ohio,Mo,IL and other places, except CA,and part of East Coast :1 pack of cigarettes cost over 9-10$ here and 3-4$ in US, the fresh vegetables/fruits and lot of other stuff at grocery store comes from CA, AZ and we pay more also, +more taxes

[Rolex]

No doubt that the US currently provides "well-being" for other economies. But that comes at a cost and risk that is beyond this discussion. It would be a mistake to think that the Canadian or other economies are dependent on the US, though. In the case of Canada, it has never seriously attempted to market its oil, food and lumber globally. It turns away requests to buy products now.

There are plenty of growing economies that Canada could trade with tomorrow, if it chose to. If US demand dropped catastrophically by 30% tomorrow, Canada could replace that US demand in a matter of months.

Billions of people in other economies are going through their industrial revolution now. Those economies will continue to grow, even when the US economy goes sour next year. The US provides little of the capital equipment and machinery those economies will be buying to service their own growing consumer class.

[Torque]

rolex is spot on.... the bse mad cow hysteria was a good example, the lumber industry is pretty much fed up with american socialism and looking elsewhere.

exports to the states are down to 76% from 85% percent in 2002.

exports are up 29% to the european union and 65% to china.

canada is an energy storehouse and enough so to offset the hit the manufacturing sector is taking with the parity. the flipside is canadian companies  will be able to invest more in upgrading with the new buying power.

so... if america doesn't want reliable energy or cheaper homes plenty of other countries beating on the door.

[Shamus]

You guy's better watch it, we may find terrorists up there.

shamus

[Thrawn]

"Loonie hits 47-year high above $1.05 US
Last Updated: Monday, October 29, 2007 | 4:34 PM ET
CBC News


The Canadian dollar's upward charge continued unabated Monday, as it topped $1.05 US to reach its highest level since March 1960.

The loonie was quoted at $1.0501 US in mid-afternoon trading, up more than a full cent from Friday's close.

It later slipped back to close at $1.0496, up 1.03 cents US.

That leaves the Canadian dollar a little more than one cent away from its postwar high of $1.0614 US, set in August 1957."

...


"The U.S. dollar fell to a record low against the euro on Monday."

...

"The speed of the loonie's recent rise has been astonishing — up about 10 cents US just since the start of September.

Since the start of the year, the Canadian dollar has appreciated by 22 per cent. Its rise since the 62-cent US depths of early 2002 has been almost 70 per cent."

http://www.cbc.ca/money/story/2007/10/29/loonie.html



I'm sitting here wondering if it's time to think hyper-inflation.

[Viking]

http://news.bbc.co.uk/2/hi/business/7067111.stm

[Shamus]

Hey buddy...can ya spare a dime:)

shamus

[soda72]

US economy sees surprise growth

There was also good news for exporters, with exports of goods
and services growing by 16.2%, the biggest year-on-year rise since the
final quarter of 2003.

I guess this doesn't hold well for the dems...

[Tiger]

And we are still riding a 2 year old thread?

[AWMac]

Just another "NAFTA" issue....

Not Asked For Thrawn Assessment.



Mac

[Viking]

Originally posted by Shamus
Hey buddy...can ya spare a dime:)

shamus

Sure bud ... anytime.