Today, for the first time in 30 years the value of the Canadian dollar (loonie) reached parity with the American dollar. It's big news in Canada. Most people think it's a good thing but it's not necessarily a good thing at all. A falling (collapsing?) US currency may be good for America and bad for Canada. [Click on the chart to enlarge.]If you want to see one reason why this isn't good for Canadians see Jennifer Smith's posting The Parity Blues.
Indeed. Movies set in Vancouver may soon be filmed in New York...
ReplyDeleteWe better watch out, soon you Canadians will creep up on our football rules too. This means war!
ReplyDeleteWar? Because of sUSpicions™ of Weapons of Mass Markets? :-P
ReplyDeleteThis will make it more difficult to infiltrate your secret spy coins into the pockets of our defense contractors.
ReplyDeleteIt sure cuts down on US tourism to Canada (ah for the good old days when a long weekend in Montreal was a great bargain), though many Canadians who don't have a direct financial interest in the tourist industry may consider that a good thing. ;)
ReplyDeleteSteve LaBonne sasy,
ReplyDeleteIt sure cuts down on US tourism to Canada ...
It's a bad thing, but you wouldn't know that there's anything bad about a falling American dollar from reports in the Canadian media. Most Canadians think it's just wonderful. It shows that Canada is a better country than the USA. What a bunch of deluded retards they are.
We don't know the net effect of a falling US dollar but it's probably going to be good for America and bad for everyone else. Not only will the USA be smiling as they run to the bank but, amazingly, all the other countries will also be smiling as they give up their money.
I wish I could come up with a scam like that.
I don't know enough about economics to know about the advantages and disadvantages of the current situation to the USA and Canada.
ReplyDeleteIt's both good and bad for me, though. Good, because now when I shop on-line for American products (games, books), I will pay less for them. Bad, because I'll be tempted to buy more things and I have essentially zero disposable income right now.
Longer term, I have no idea.