Canadian Dollar keeps going up
- Thread starter Cobster
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Even China is now selling its US dollars...well I live here because I was born here and my family is here but if I came in form outerspace I would not even visit the USA !!
PS. I threw my flag away back when Bushie got in because I knew I was not going to be proud of this country...how right I was
PS. I threw my flag away back when Bushie got in because I knew I was not going to be proud of this country...how right I was
tboy said:
No actually. Different markets have different premiums depending on need. Now, if the markets were all open at the same time, I would imagine that the currency rates would tend to drift together.
I would think that they would sell US$ and buy Euros, Pounds & Yen... the CDN$ is not a major world currencyjjkrszd said:
Yet more - The city of Toronto's economic development committee meeting Wednesday joined the chorus warning that the high Canadian dollar is a threat to jobs and the economy.
Jim Stanford, an economist with the Canadian Auto Workers Union, said
"Toronto is unique among global cities [in that] manufacturing [is] such an important part of its economic base - A high dollar means Toronto companies simply can't compete."
Councillor Kyle Rae, the chair of the committee, stated "The media seems to be in a giddy mood about where our dollar has gone. They're acting like Anderson Cooper [CNN] standing in a hurricane, saying how wonderful it is to stand in a hurricane, when in fact there are going to be casualties." He urged Finance Minister Jim Flaherty, to act to get the dollar's value down.
Jim Stanford, an economist with the Canadian Auto Workers Union, said
"Toronto is unique among global cities [in that] manufacturing [is] such an important part of its economic base - A high dollar means Toronto companies simply can't compete."
Councillor Kyle Rae, the chair of the committee, stated "The media seems to be in a giddy mood about where our dollar has gone. They're acting like Anderson Cooper [CNN] standing in a hurricane, saying how wonderful it is to stand in a hurricane, when in fact there are going to be casualties." He urged Finance Minister Jim Flaherty, to act to get the dollar's value down.
Apparently over the last 3 years more than 100000 manufacturing jobs have been lost because of an appreciating dollar. Maybe manufacturers should find new markets (like Europe) for their products instead of relying on the USA... but the funny thing is that European companies cannot sell their goods in the USA because of the high Euro... maybe this is the making of another great depressionAardvark154 said:
It will be interesting to see what happens to the US dollar after Black Friday
Is it time for the government to get rid of its reserve of US cash before it depreciates further and becomes worthless? Apparently the government holds approx $19 Billion is US$
http://www.fin.gc.ca/news07/07-085e.html
I"m not an economist but you hear all the time about "lost manufacturing jobs" and "manufacturers can't compete with a high dollar".....can anyone explain to me why we don't say "so fucking what"???
I mean, when our dollar was low, we couldn't buy anything (or didn't) because it was so expensive. So now, it's high, and it's all doom and gloom.
I mean, really, come on. A high dollar has to have some benefits and same goes for a low dollar.
Maybe it's time we all started buying up US companies (ie foreign investment) and started bringing the profits home for a change instead of foreign investors buying up companies here and taking the profits out of the country.
I mean, when our dollar was low, we couldn't buy anything (or didn't) because it was so expensive. So now, it's high, and it's all doom and gloom.
I mean, really, come on. A high dollar has to have some benefits and same goes for a low dollar.
Maybe it's time we all started buying up US companies (ie foreign investment) and started bringing the profits home for a change instead of foreign investors buying up companies here and taking the profits out of the country.
Benefitstboy said:
Imported goods (priced in $US) are cheaper. A good time for companies to buy new machinery and automate more processes.
It is good when traveling to the US, as things cost less
For Canada, the benefits of a low dollar by far outweigh those of a high dollar. Why do you think Mr Mcguinty is wants the feds to do something to bring down the value of our dollar??? As it is, Ontario's growth next year will lag virtually ALL other provinces
A low US$ means that many companies will have to open plants in China or the USA in order to be able to sell goods there competitively , resulting in jobs for Americans, as plants close here because it was once cheaper to produce the goods here.
Higher inflation
Many towns rely on tourism... Americans for the most part. Now there is many fewer US tourists coming.
I saw an article this week, stating that in NB, they could not export Christmas trees to the US this year. Our high dollar made them too expensive. NB usually exports approx 500000 trees per year.
A high dollar means MANY jobs will be lost, and when they go, there will be a spin-off effect which also effects retail, housing and the service market. Sure we can say that we want the high-tech jobs to come here, but those jobs are going to India and China as they can do those with a much lower cost for labour.
Dark days are coming.
True Canada might start losing jobs because of the strong dollar but 10 years ago the US dollar was strong and our job market was doing great. Everybody who wanted a job had one, crime was going down. In fact everything was great untill the year 2000 and Bushie got in office.
They did say the slow down started around 1998-1999 but I am not so sure of that. I do know-since I live in the USA-that things around here turn down around 5 years ago and really have gotten bad the last 2 years.
If the weak US dollar is so great for the USA why don't people from outside the USA buy stocks in the USA. The Dow Jones went down like a 1000 points this week. Our home prices are droping every month.
Now they are saying 2008 is going to be even worst than 2007..
They did say the slow down started around 1998-1999 but I am not so sure of that. I do know-since I live in the USA-that things around here turn down around 5 years ago and really have gotten bad the last 2 years.
If the weak US dollar is so great for the USA why don't people from outside the USA buy stocks in the USA. The Dow Jones went down like a 1000 points this week. Our home prices are droping every month.
Now they are saying 2008 is going to be even worst than 2007..
The U.S. got China, Japan and Saudia Arabia to buy all that T-notes at high USD. Now they run it down and steal their money back.
If you can't beat them, rob them!
If you can't beat them, rob them!
ie: Our big 4 banks. UAE with their oil money on a shopping spress very much like Japanese during their boom.tboy said:
Takes time to filter out the junk (ie: affected by subprime) vs. bargain. With recent pops, few are sitting cash, takes time to reshuffle holdings.S.C. Joe said:
Btw, Europeans, Middle-east & China are taking advantage the opportunity. Chinese own good chunk of Blackstone. U.S. protectionism slows foreign investment.
S
superman
Is a Festish like a Fetish for Festus on Gunsmoke?superman said:
http://www.parabrisas.com/photos/festus.gif
Or do you just celebrate Festivus like the rest of us?
anon1 said:
China is too smart for that game. They have fixed their currency to the USD so it does not float.
Steve Forbes says the US should "soak up" the excess liquidity and the Fed should announce this is what it's going to do. Forbes 11/12/2007
Gyaos Baltar.
Gyaos Baltar.
