Canadian Dollar

[Kracka]

I'm sure most of you don't care, but its kind of a big deal to those of us in the financial industry...

The Canadian dollar is now worth more than the US dollar (US$1.002004 at month-end to be exact). About 3 1/2 years ago the Canadian dollar was only worth about $.66 US.

[TkrPerformance]

we now suck
it use to be good to go to canada to buy stuff sence it was cheap

[MustGoFaster]

Interesting, and sucks for us.

[turbotalon1g]

US falling, falling......

[TheBlizzard]

Damn thats crazy. I would never have thought it would ever happen.

[Speedfreak]

This seems to be the case with the U.S. Dollar vs. most foreign currencies right? Meaning most other large countries/currencies are getting stronger and stronger vs. the U.S. Dollar. However, countries like China and India are trying to artificially keep the exchange rates where they are to keep their marketability to the world. It is most definitely a world market now, and the U.S. is no longer the leader.

[dylan]

If we were not in a few different unnecessary wars things would probably be different.

[niterydr]

Originally Posted by dylan

If we were not in a few different unnecessary wars things would probably be different.

Please shut the hell up.

The dollar strength is about economics and rising countries not the fact that we feel the need to police the world.

Our failing infrastructure coupled with the fact that we artificially boosted our own economy after 9/11 is what is fucking our dollar globally.
When foreign investors started to worry about our failing housing market is when we REALLY started to drop, but the other countries booming/catching up is also evening the field.

Like it was stated, it is really a global market.

[dylan]

Originally Posted by niterydr

Please shut the hell up.

The dollar strength is about economics and rising countries not the fact that we feel the need to police the world.

Our failing infrastructure coupled with the fact that we artificially boosted our own economy after 9/11 is what is fucking our dollar globally.
When foreign investors started to worry about our failing housing market is when we REALLY started to drop, but the other countries booming/catching up is also evening the field.

Like it was stated, it is really a global market.

If we were not spending hundreds of billions of dollars on various failing wars, we would have more money. Our economy is an issue I am not denying, but you also cannot deny statements I have made. Policing the world is also not the only war I am talking about. The war on drugs is another battle our country needs to redesign. And as far as our economy not being effected by wars? What kind of joke is that?

[JET]

Originally Posted by dylan

If we were not spending hundreds of billions of dollars on various failing wars, we would have more money. Our economy is an issue I am not denying, but you also cannot deny statements I have made. Policing the world is also not the only war I am talking about. The war on drugs is another battle our country needs to redesign. And as far as our economy not being effected by wars? What kind of joke is that?

And where is the money from the war going? Back into our economy. This money was previously sitting in a slush fund doing nothing. Putting that money into our economy is good, it gives money to businesses, who give it to their workers who spend it on goods. The big part of the problem is many of these goods are now made overseas, so it doesn't stay here as long as it did in the past. A war is basically using tax dollars to supplement the economy, this is obviously just economically speaking. The more the money in the US gets turned over the better, that means not sitting on money in savings, etc.

[dylan]

Originally Posted by JET

And where is the money from the war going? Back into our economy. This money was previously sitting in a slush fund doing nothing. Putting that money into our economy is good, it gives money to businesses, who give it to their workers who spend it on goods. The big part of the problem is many of these goods are now made overseas, so it doesn't stay here as long as it did in the past. A war is basically using tax dollars to supplement the economy, this is obviously just economically speaking. The more the money in the US gets turned over the better, that means not sitting on money in savings, etc.

We cannot use war to justify stability of our own economy.

And now a group of democrats wants to add a war tax to pay for the war now, instead of making future generations pay for it.

http://weblogs.baltimoresun.com/news...to_make_i.html

[Andrew7dg]

I should have put money into the Canadian dollar but who would have thought of it. Whats going on in the US to make the American dollar value lower?

This also happened with the euro a while ago

But Canada!?...

[SLOW_V]

euro is where is at..

[FattyBoomBatty]

Speedfreak - the us economy is still the largest in the world, our GDP is quite high, despite the obvious problems. It looks like the EU is second, but that encompasses several countries so that's cheating, lol. China is headed right for number one though. So, if you are thinking about speculating on money, buy the Chinese Yuan. It's value is rising right now (it's a little over 7 to $1US).

[Speedfreak]

Originally Posted by Andrew7dg

I should have put money into the Canadian dollar but who would have thought of it. Whats going on in the US to make the American dollar value lower?

This also happened with the euro a while ago

But Canada!?...

What isn't happening over here. First like someone else mentioned, we are spending billions fighting wars in other corners of the world for no apparent reason.

Second, our countries infrastructure is now at the point where it needs a major overhaul, and the is no money being devoted to it. Bridge collapses and major pipeline bursts(like NY or NJ forget which)are inevitable.

Third, the housing market is correcting after the bubble that was created by everyone putting their money into "tangible" items like land or real estate. The real estate bubble was created after the stock market/tech bubble busted in '01.

According to Greenspan, the interest rate cut recently was not the first, and the U.S. economy is just beginning it's slide. We have a solid chance of going straight toward a recession.

This country has three major industries. Auto, Health care, and war. The auto industry is failing, and will never have the market share they once had(in the U.S. or worldwide). Health care is in shambles and is going to take years to fix. So thats where war comes in, the govt knows war is good for economy so they just have one more reason to create wars which in turn create jobs in the U.S.. It is not a long term solution, but thats all they have to work with.

Of course this is a very basic overview of what is going on, but this country has issues. Like all empires, they all peak sometime, I believe we peaked in '01. Now we just have to see where we settle in, or if it just continues to decline.

Originally Posted by FattyBoomBatty

Speedfreak - the us economy is still the largest in the world, our GDP is quite high, despite the obvious problems. It looks like the EU is second, but that encompasses several countries so that's cheating, lol. China is headed right for number one though. So, if you are thinking about speculating on money, buy the Chinese Yuan. It's value is rising right now (it's a little over 7 to $1US).

Yeah, I know we still lead in that sense. But I was talking about the financial markets. What happened here in the U.S. used to have a much larger impact on the other major financial markets of the world, not so much anymore.

[Matt D.]

Anyone who wants to see how currencies compare to others...

http://www.xe.com/

[NOT THE BLUE LAMPSHADE]

3 words, and this isnt the MAIN cause, but its a MAJOR no end in sight contributor


war in iraq

[JET]

Originally Posted by NOT THE BLUE LAMPSHADE

3 words, and this isnt the MAIN cause, but its a MAJOR no end in sight contributor


war in iraq

If you don't know what you are talking about, it is best not to speak. War actually makes the economy better. There is more money being spent in the US because of the war. Ever wonder how we got out of the Great Depression? WWII did it.

There are a ton of things wrong in the US right now. We have a ton of foreign ownership that is pulling out, that is money that was here, that is now leaving. The housing industry is the other huge one. With the global economy coming around the US is never going to be like it was. This is just the beginning, although don't expect it to go downhill as quickly as this dip in the road.

[Thor06]

When my buddy in Canada saw that he went on a little shopping spree on American eBay... got himself a sweet ass deal on a PTE SCM3484 or some shit with a tubular manifold. I'm pumped about it because when he puts it on this summer hes going to want to sell his Evo III 16g and wont mind letting it go for cheap seeing as how he got his new one for so cheap and I am first in line .

[Andrew7dg]

In economics 101...

What is fueling Canada's currency? they don't have auto or medical...
well actually last time i checked my parents Buick had a made in Canada sticker on it...
He was giving me greif about how my car is an import and his is American
However I showed him the made in USA sticker on mine..

Is Canada holding its own and it is just the American dollar going down?

Yeah America doesn't have too many industries anymore. The closed even the Ford ranger plant.