Canadian dollar = US dollar, first time in 31 years

[replicator]

Fellow Canadians, time to go shopping in the US!

http://ca.today.reuters.com/ne...-DOLLAR-PARITY-COL.XML

 

[K1052]

I for one welcome our new Canuk overlords.

 

[lozina]

Don't worry guys. Soon our exports will be bought up like crazy and we'll be RICH!! Wait... what do we export again? And how are those profits if any going to get into my pocket to counter the devalued dollars in my wallet? Hmmm

 

[techs]

Wow. The dollar has fallen farther and longer than at any time in our history over the last 7 years.
While our trade deficit INCREASED.
Thanks Bush, thanks Republicans.
Just keep saying deficits don't matter and outsourcing is good for America.
If you just keep repeating it you might not see the catastrophic results.

 

[StageLeft]

Oh God, it finally happened. The dollar has been crumbling down here. I visited Canada a month back and could already tell it was less desireable in the past because parity was almost there. Considering everything in the US is still cheaper (from books to cars), it really behooves Canucks near the border to do much of their shopping down here.

 

[KB]

Damn I wish I had bought gold a long time ago. I am going to get rid of the greenback and start bartering again. Who will accept my whiskey and bullets as currency?

 

[StageLeft]

More importantly, can anybody say how this affects the near future of the US? No glib comments about Bush or $7 gallon, oil, but honestly what does this mean?

 

[BoberFett]

Originally posted by: KB
Damn I wish I had bought gold a long time ago. I am going to get rid of the greenback and start bartering again. Who will accept my whiskey and bullets as currency?

I don't know about whiskey, but I think lots of people will trade with you in exchange for you keeping your bullets.

 

[Engineer]

Saudia getting ready to unpeg themselves from the dollar?

Don't know if a weak dollar is necessarily bad or not (debatable), but if the dollar stops being dropped (big if) for the base of the worlds currency for oil and other commodities, I think it could be very bad (IMO).

Running the printing presses at the mint 24-7 might not be a good thing, eh? Inflating our way out of debt and trading paper for PC's, plasma (TV's) and petrolium will only work as long as they are willing to take our dollar as the "gold standard" (pun intended)...

 

[ericlp]

The dollar's decline during the Bush presidency has been remarkable. It has tumbled about 44 percent from its October 2000 high of about 83 cents to the euro. Over the past year alone, the decline has been more than 15 percent. Investors who trusted in the dollar as a store of value have been clobbered, so it's not surprising that they want to sell, even at current depressed prices. They fear that worse is coming.

The worse is coming but anyone can figure this one out. Look at the chimp leading the country running it into the ground as usual.

 

[poohbear]

for canadians working in the US this sucks as$!!!! usually the salary is lower in the states but the currency conversion always made it more. 29k a year USD is now, erm, 29k Cdn a year! lol i pitty my mate working in NY.

 

[Firebot]

What I don't understand is why did the feds just drop interest rates by .5%? All to delay the inevitable house market crash? Sure the stock market jumped on the news, but the other side of the coin is that the US dollar sunk versus all other world currencies.

Whatever, at least I live in Canada, and don't have to worry about having to carry buckets full of loonies to buy bread anytime soon. The sad thing is Bush still has another year of damage to do. It was no coincidence that the US dollar dropped like a stone in 2004 the day Bush got re-elected.

 

[imported_Shivetya]

Originally posted by: techs
Wow. The dollar has fallen farther and longer than at any time in our history over the last 7 years.
While our trade deficit INCREASED.
Thanks Bush, thanks Republicans.
Just keep saying deficits don't matter and outsourcing is good for America.
If you just keep repeating it you might not see the catastrophic results.

Damn, is your BDS that extreme to not understand how this benefits America?


Your just so damn ignorant you make stupid people look smart.


When the Yen started rising versus the US what happened that was bad to the US? nothing. Japan in the meanwhile had all sorts of problems. Korea stepped in as their conversion rate was better. Korea got whacked too and China stepped in. Now China's Yuan is pegged to the dollar which protects them from devaluation.


Sorry, but this is a great sign for American companies. You need to just shut the F up

 

[Engineer]

Originally posted by: Shivetya



Your just so damn ignorant you make stupid people look smart.

It's "You're"!

 

[Kntx]

Originally posted by: replicator
Fellow Canadians, time to go shopping in the US!

http://ca.today.reuters.com/ne...-DOLLAR-PARITY-COL.XML

It's a great time to buy US securities and will only get better. USD fall shows no signs of stopping.

 

[dmcowen674]

Originally posted by: Shivetya

Originally posted by: techs
Wow. The dollar has fallen farther and longer than at any time in our history over the last 7 years.
While our trade deficit INCREASED.
Thanks Bush, thanks Republicans.
Just keep saying deficits don't matter and outsourcing is good for America.
If you just keep repeating it you might not see the catastrophic results.

Damn, is your BDS that extreme to not understand how this benefits America?

Your just so damn ignorant you make stupid people look smart.

When the Yen started rising versus the US what happened that was bad to the US? nothing. Japan in the meanwhile had all sorts of problems. Korea stepped in as their conversion rate was better. Korea got whacked too and China stepped in. Now China's Yuan is pegged to the dollar which protects them from devaluation.

Sorry, but this is a great sign for American companies. You need to just shut the F up

Wow, so the dollar as worthless as a rock is the greatest thing since sliced bread?

I did not know that. Thanks for the education. :thumbsup:

 

[sandorski]

Originally posted by: Kntx

Originally posted by: replicator
Fellow Canadians, time to go shopping in the US!

http://ca.today.reuters.com/ne...-DOLLAR-PARITY-COL.XML

It's a great time to buy US securities and will only get better. USD fall shows no signs of stopping.

It's a bad time for Canadians to buy US Stocks/Bonds. If/When the $CDN sttarts falling is the time to buy US Stocks/Bonds.

Now is a good time to buy US Real Estate though. Between the rising $CDN and the falling US Home prices there are bargains to be had and are being had. US Property is generally cheaper than Canadian most of the time, for the Urban Canadians anyway.

 

[Kntx]

Originally posted by: sandorski

Originally posted by: Kntx

Originally posted by: replicator
Fellow Canadians, time to go shopping in the US!

http://ca.today.reuters.com/ne...-DOLLAR-PARITY-COL.XML

It's a great time to buy US securities and will only get better. USD fall shows no signs of stopping.

It's a bad time for Canadians to buy US Stocks/Bonds. If/When the $CDN sttarts falling is the time to buy US Stocks/Bonds.

Now is a good time to buy US Real Estate though. Between the rising $CDN and the falling US Home prices there are bargains to be had and are being had. US Property is generally cheaper than Canadian most of the time, for the Urban Canadians anyway.

Name one time in the past 10 years I could buy a US security dollar for dollar? Or 20 years... or 30 years?

I'm not saying I expect the USD trend to reverse soon, as stated in my post. But I don't think looking long term the USD will stay as weak as it is now. I stick by my assertion that now is a good time for Canadians (and people who earn non-US dollars) to buy US sercurities (blue chips).

 

[poohbear]

It's a bad time for Canadians to buy US Stocks/Bonds. If/When the $CDN sttarts falling is the time to buy US Stocks/Bonds.

could u elaborate on that? i always assumed if $1=$1 it'd be a great time to buy american stock cause when the cdn dollar drops back to .90, the american stock automaticly makes u .10c just from the currency exchange. im no economics major though, so im curious.

 

[techs]

Originally posted by: Shivetya

Originally posted by: techs
Wow. The dollar has fallen farther and longer than at any time in our history over the last 7 years.
While our trade deficit INCREASED.
Thanks Bush, thanks Republicans.
Just keep saying deficits don't matter and outsourcing is good for America.
If you just keep repeating it you might not see the catastrophic results.

Damn, is your BDS that extreme to not understand how this benefits America?


Your just so damn ignorant you make stupid people look smart.


When the Yen started rising versus the US what happened that was bad to the US? nothing. Japan in the meanwhile had all sorts of problems. Korea stepped in as their conversion rate was better. Korea got whacked too and China stepped in. Now China's Yuan is pegged to the dollar which protects them from devaluation.


Sorry, but this is a great sign for American companies. You need to just shut the F up

No you need to wisen up. It is not a great sign for American companies. If it was we should have been in the greatest economic expansion in our history. Yet our trade deficit is RISING. The new economic order prevents the lower dollar from appreciably increasing American exports. All it does is hurt working Americans.
Only a die hard, right wing, Republican would cheer Americans getting poorer.

 

[senseamp]

Until we stop running deficits, dollar is going to keep tanking. Also our companies with their huge salary and benefit costs can only be competitive if the currency those costs are denominated in falls. So in a way, we need cheap dollar. But of course if you have money now, you need to hedge it against a falling dollar.

 

[Balt]

Originally posted by: Shivetya

Originally posted by: techs
Wow. The dollar has fallen farther and longer than at any time in our history over the last 7 years.
While our trade deficit INCREASED.
Thanks Bush, thanks Republicans.
Just keep saying deficits don't matter and outsourcing is good for America.
If you just keep repeating it you might not see the catastrophic results.

Damn, is your BDS that extreme to not understand how this benefits America?


Your just so damn ignorant you make stupid people look smart.


When the Yen started rising versus the US what happened that was bad to the US? nothing. Japan in the meanwhile had all sorts of problems. Korea stepped in as their conversion rate was better. Korea got whacked too and China stepped in. Now China's Yuan is pegged to the dollar which protects them from devaluation.


Sorry, but this is a great sign for American companies. You need to just shut the F up

I don't really see how this is great for the United States. If our country manufactured and exported a lot of goods you might have a point, as exports would increase since our goods would be cheaper to people in countries with stronger currencies. However, it seems like we've become mostly a country built on service industries that just imports whatever goods we need from other countries. A weak dollar makes it harder to pay for those imports.

Honestly I don't see how Japan's economy being adversely affected by a weak dollar is good for us. They are a close trading partner with the US and I think if they go in the tank it's going to be bad for us as well eventually.

 

[sandorski]

Originally posted by: poohbear

It's a bad time for Canadians to buy US Stocks/Bonds. If/When the $CDN sttarts falling is the time to buy US Stocks/Bonds.

could u elaborate on that? i always assumed if $1=$1 it'd be a great time to buy american stock cause when the cdn dollar drops back to .90, the american stock automaticly makes u .10c just from the currency exchange. im no economics major though, so im curious.

If it drops, you are correct, but who knows if it will drop? It may just continue to rise. That's why I stated, "If/When the $CDN sttarts falling is the time to buy US Stocks/Bonds. ". It's trending upwards right now, I suspect it will continue for some time yet.

 

[Martin]

I was just in CT and was doing some comparisons, I can save $350 by buying there instead of in Canada.

Anyway, the rise of the loonie from .85 to 1 has been pretty quick, but if it remains there we should get some pretty nice drops in prices... just in time for xmas too

 

[eits]

i'm not surprised... it's just one more step towards the amero and the north american union.