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the American and Canadian economies

post #1 of 9
11/6/07 at 9:55pm
Thread Starter 
http://www.cbc.ca/money/story/2007/1...dn-dollar.html


Up here in Canada, we feel proud when the dollar goes up, even though this is not a good thing. Unless you're a cross-border shopper. Since Americans buy more from us than we do from them, a high dollar means Americans buy less and factories close. I live in a province with alot of pulp and paper mills which have been closing lately, some short term, some permanently.

I didn't post this to brag about the loonie (Canadian dollar nickname), but to ask if you guys are personally hit by the sagging American economy and if you're worried about it getting worse. Oil hit $97 US a barrel today, which means inflation will skyrocket since everything is transported by trucks, planes, etc...

Your thoughts?
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post #2 of 9
11/6/07 at 10:00pm
Perhaps this should have been posted in the Political Forum?
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post #3 of 9
11/6/07 at 10:04pm
Thread Starter 
I see people post threads of every type in the Main...why am I singled out?
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post #4 of 9
11/6/07 at 11:03pm
Quote:
Originally Posted by SneakyPete
I see people post threads of every type in the Main...why am I singled out?
Read:

Quote:
CHUD.COM Main This is the place to discuss all CHUD.com site related discussion. We'll post links to news articles and stuff and here's where you chat them up. Keep the bond between site and boards alive!
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post #5 of 9
11/6/07 at 11:14pm
Comments from a Canadian friend after I copy/pasted this thread to him:

Quote:
It'd be ideal for it to stay at around 87 cents or so, IMO.

It's just too hard to trade with a country 9 times your size when your currency has an almost 10% lead over theirs.

And yeah, the three border crossings here have been snarled with traffic going over to shop. US prices are lower, since our retailers still haven't sold off the stock purchased on a weaker dollar and therefore haven't had time to adjust, so there's a lot of enticement there.

Spend $400 on a PS3 here, or what amounts to around $325 on one in the US? Seems obvious...
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post #6 of 9
11/6/07 at 11:30pm
Quote:
Originally Posted by SneakyPete
I didn't post this to brag about the loonie..
Well if you won't, I guess I'll have to..

NEENER NEENER! YEAH! WOO! ROCK ON, EH! TAKE THAT LINCOLN, WASHINGTON, JACKSON, AND UH.. well there's uh.. the guy and .. that one guy who was like.. president back then.. y'know..

The other guys you have on your money!
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post #7 of 9
11/6/07 at 11:52pm
Our family business does a lot of business with Canadian companies and this situation is hurting us and them. This year wasn't that bad in reality for us but next year(if things the exchange rate stays the same) we will be in a bad place.
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post #8 of 9
11/7/07 at 10:07pm
At first I didn't really care that the dollar was on the rise because I'm used to paying more compared to the US for anything at retail and I didn't think that would change. But the other day I decided to get an Ipod nano and out of curiosity I looked up the price on the US best buy website and to my surprise it was the same price as on the Canadian site.
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post #9 of 9
11/8/07 at 12:18am
I started the worlds most honorable profession ....car sales, just over 2 months ago. The last 3 weeks business has slowed down considerably. Lots of people are waiting to see if car prices will drop. Especially today with it being at $1.10 US. Car prices are 10-15% less in the states at par then you factor in a another 10%. Tough to buy at home.
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