Posted on 12/04/2007 5:10:57 PM PST by BfloGuy
Only about two months ago, Canada hit parity with the U.S. dollar for the first time in 31 years. Now many Canadians have had their fill: Companies ranging from jetmaker Bombardier Inc. to lumber producer Canfor Corp. say their currency’s strength is cutting into profits and jobs.
“There is not much pride in declining business,” said Ken Lewenza, a Canadian Auto Workers union leader in Windsor, Ontario, where parts suppliers are closing operations and the casino just cut another 200 jobs. “The squeeze is on, and our lives are miserable.”
(Excerpt) Read more at buffalonews.com ...
“We are getting ripped off,” said Sullivan, 37, who plans another trip to take advantage of cheaper car prices.
I'm hoping that some of the Freepers who long for the days of our soaring Yankee dollar will remind me why that is.
Lemme see. How about this. Imagine that our dollar is worth 5% of the Euro, or any other currency. How would you like that?
When gasoline hits $5/gallon, because the majority of our imported oil comes from Canada, you’ll remember why a stronger dollar had redeeming attributes without anyone reminding you.
time to invest in american exporters
Here in my town the businesses are loving the dollars position!!!
with Canadian beer at $35.00 a case....NOW this guys figures out he’s getting ripped off? Yikes
Who knows, maybe now some FReepers will start buying American??
Pray for W and Our Amazing Troops
The dollar devaluated more than the loonie soared.
One side benefits (sometimes, when it’s related in any way to foreign trade) at the expense of the other.
Countries trading mostly in Euro (most European ones) are in the same position as Canada and UK, and businesses there are crying while their consumers may be currently benefiting if they buy American or anything that trades in currency pegged (officially or unofficially) to US Dollar, such as Chinese yuan.
Considering the conventional wisdom that US economy is composed of two-thirds consumer expenditures, the overall benefit of weak dollar serves to help or hold afloat companies that do sizable business overseas, while detrimental to US consumer and, therefore, overall economy.
IMO, our Fed. should lower the rate another 3/4 point, and Israel should take out all of Iran’s oil facilities.
Canada has oil and other resources needed by the USA. Canadians could have a much higher loonie and still get richer. I don’t want to see any more of the commie talk about pegging the loonie to the dollar or ripping the oil companies off with higher royalties and taxes, after they did so much R&D and building.
FRiends, don’t let friends buy Canadian until they stop acting like commies and running their perpetual trade war against us.
Yeah dopey let’s keep devaluing until the US Dollar is on par with the Zimbabwe currency. A libertarian formula for success
Too Too funny
If we're really lucky, the value of the dollar will plummet to nothing and then we'll all be rich!!
Don't try to spin the collapse of the dollar as a good thing.
Yea, I wish we were like Zimbabwe, then we’d be doing great, right?
I have an oceanfront lot -FSBO about 20 miles south of Canada. It will probably be bought by a Canadian, bargain hunting in the US.
I’m asking $350K. In British Columbia, it would sell for 750K+.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Making it worth 1% of the Euro wouldn't have made your statement any less ridiculous.
Prices are rising because of real demand in China and India (among others) and because speculators are pouring money into the market.
I'll have to think about the economic ramifications of that policy, but I must admit that I like your thinking.
Well, I'm not a libertarian, but why would you think the US Dollar would devalue until it was on par with Zimbabwe's? Please, tell us.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.