Canadian Dollar

**Kracka** · 10-02-2007

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 · 10-02-2007

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

MustGoFaster · 10-02-2007

Interesting, and sucks for us.

turbotalon1g · 10-02-2007

US falling, falling......

TheBlizzard · 10-02-2007

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

Speedfreak · 10-02-2007

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 · 10-02-2007

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

Andrew7dg · 10-02-2007

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 · 10-02-2007

euro is where is at..

FattyBoomBatty · 10-02-2007

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).

Matt D. · 10-02-2007

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

http://www.xe.com/

Speedfreak · 10-02-2007

Quote:

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.

Quote:

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.

NOT THE BLUE LAMPSHADE · 10-02-2007

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

war in iraq

Thor06 · 10-02-2007

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 · 10-02-2007

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.

**Halon** · 10-02-2007

We have the Nuke industry

**JET** · 10-03-2007

Quote:

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.

FattyBoomBatty · 10-03-2007

Come on guys, there won't be a huge recession or any kind of depression, that's why they invented the federal reserve. It has several ways to control that sort of downward trend and cutting the interest rates is just one.

Speedfreak - the US is the world's number one producer of capital goods, that means machines like farm equipment, etc. The auto industry is extremely reluctant to completely restructure, which I think is what they desperately need to do. It's a world market and to sit on your hands and ask for handouts from the government (auto industry) is masturbation.

I am not worried that the US will become less of a power than it is, I am not worried that the dollar will suffer from much inflation because there are people who are smarter than god working for the government, they're just the ones you never see.

There'll be a turnaround, but don't miss the bus when it rolls by!

FattyBoomBatty · 10-03-2007

Quote:

Originally Posted by Andrew7dg

In economics 101...

What is fueling Canada's currency? they don't have auto or medical...

What do you mean they don't have auto or medical? they have auto manufacturing plants, they export parts to the US for auto manufacturers here. They have national health coverage, so you don't pay jack when you see the doctor, you just have a little more tax taken out.

here: http://www.economist.com/countries/Canada/

Exports and public finances. Most countries in the world will reflect how their economy is doing by the savings rate of it's citizens. How much of your last paycheck did you put into savings?

Matt D. · 10-03-2007

Quote:

Originally Posted by FattyBoomBatty

How much of your last paycheck did you put into savings?

The last time I put anything in savings was 6 months ago when I cashed in a bunch of change, and that's gone already.