LOL CDN Dollar is $1.10 American. - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
 
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post #1 of 10 (permalink) Old 11-07-2007, 12:32 PM Thread Starter
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LOL CDN Dollar is $1.10 American.



That is all.

http://www.cbc.ca/money/story/2007/1...-overseas.html

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fucking pringle bastards.
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post #2 of 10 (permalink) Old 11-07-2007, 12:35 PM
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Re: LOL CDN Dollar is $1.10 American.

Been like that for a little while now, no?
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post #3 of 10 (permalink) Old 11-07-2007, 12:41 PM Thread Starter
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Re: LOL CDN Dollar is $1.10 American.

Nope, record high since 1957. Although none of this is relevant anyway. The shitty thing is that the US Dollar is doing very bad right now, and that a high CDN dollar really hurts us in the long run too....give it 5 years tops and our dollar will drop once we get into our next recession.

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fucking pringle bastards.
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post #4 of 10 (permalink) Old 11-07-2007, 12:47 PM
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Re: LOL CDN Dollar is $1.10 American.

[quote author=budgy link=topic=93974.msg1838207#msg1838207 date=1194457270]
Nope, record high since 1957. Although none of this is relevant anyway. The shitty thing is that the US Dollar is doing very bad right now, and that a high CDN dollar really hurts us in the long run too....give it 5 years tops and our dollar will drop once we get into our next recession.
[/quote]

Got ya, I know it's been higher then 1:1 for awhile though which is a shame for you guys... shit, everything is now more expensive then it is here where as before it used to be pretty similar.

Hopefully when we get rid of the retard (Bush) our next President will fix our flailing economy.
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post #5 of 10 (permalink) Old 11-07-2007, 01:35 PM
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Re: LOL CDN Dollar is $1.10 American.

sucks for you guys. you money is worth more, yet you still pay more for stuff.


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post #6 of 10 (permalink) Old 11-07-2007, 01:54 PM
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Re: LOL CDN Dollar is $1.10 American.

Perk of a weak dollar is US exports look really good (more US exports good for the economy). Downside is oil and imports are really expensive, so are trips abroad.
-Matt
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post #7 of 10 (permalink) Old 11-07-2007, 02:03 PM
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Re: LOL CDN Dollar is $1.10 American.

i'm going to nyc for xmas/new years . . . i guess its not going to get much better then this to buy american $$$
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post #8 of 10 (permalink) Old 11-07-2007, 04:39 PM Thread Starter
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Re: LOL CDN Dollar is $1.10 American.

[quote author=Oricle link=topic=93974.msg1838307#msg1838307 date=1194460532]
sucks for you guys. you money is worth more, yet you still pay more for stuff.
[/quote]

exactly. although it seems some things are beginning to correct itself. the only good thing about our dollar being high is if we are buying something in the US, or travelling, etc. Our economy is on the verge of collapsing just like the US economy has been doing the last few years. The government says they are lowering interest rates because of the lack of inflation....how can that be if the cost of housing in my province has risen over 100% in the last few years, and the dollar went up 40% as well? Same market conditions of 1980 back when our dollar was doing good as well comparitively to the greenback. Although now our housing market is softening up a little bit. Again exactly the same market conditions of 1980, softening housing market, booming dollar, lower interest rates. Then in 1981 everything went to shit, the biggest forclosure on homes in Canadian history happened. Our government (and the US government) should be raising interest rates instead of lowering them.

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Originally Posted by John_in_the_LBC
fucking pringle bastards.
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post #9 of 10 (permalink) Old 11-07-2007, 04:55 PM
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Re: LOL CDN Dollar is $1.10 American.

Well in the US case it is a matter of do we want a bad recession now or a REALLY bad recession in a few more years. Apparently the central bank (I am sure there are no political motivations at present, yeah right) is doing its best to temporarily prop up the economy, which lowering interest rates will certainly do...however it also has the unfortunate side effect that it also ususally causes short term growth at the expense of greater debt...and that greater debt will hurt that much worse once the economy finally does slip off the tread mill.

If it was simply people with debt refinancing at lower rates that would be fine, but everyone knows that won't be all that happens.

Home value growth was fueling lots of extra spending by people because they had 'untapped' assets even though their income was stagnating...so they took out home equity loans...now that housing markets have stop valuating or have even gone down people can no longer take out home equity loans (well, not to the degree that people had been) and use the money to fuel spending. So the result is a lot of people spending well beyond their means, using home equity loans to not increase the value of their home, so they have homes with little, no or negative equity because of their stupid decisions, a reduction in what they can spend...and if they want to keep spending must start racking up a lot more credit card debt, which leads to eventual bankrupcy and the attendent problems there. Or they curtail their spending...but either way you have an issue of poorly secured or not secured debt being defaulted on which hurts banks and credit card companies, possible default on secured debt, which still hurts them, but maybe not to the same degree and/or a reduction in spending, which reduces demand for goods, which slows or reverses the economy.

That isn't all of it, but the basics in a nutshell that I see.
-Matt
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post #10 of 10 (permalink) Old 11-07-2007, 05:04 PM Thread Starter
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Re: LOL CDN Dollar is $1.10 American.

the dangers of debt equity financing.

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