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-   -   The Loonie Hits a High note! (http://www.wranglerforum.com/f6/the-loonie-hits-a-high-note-11651.html)

Levinoss 09-20-2007 12:22 PM

The Loonie Hits a High note!
 
Looks like our friends up north are doing well ^_^

Quote:

The Canadian dollar reached parity with the U.S. dollar this morning for the first time since November 1976.

The loonie, which has been gaining on its American counterpart since bottoming out below 62 cents in early 2002, has recently been on a spectacular run, up from 95 cents at the start of September and from under 90 cents last spring.

At 10:58 a.m., the loonie hit $1.0004.

“We’ve just hit parity,” said an excited Matthew Strauss, senior currency strategist for RBC Capital Markets.

“That’s why everybody is going crazy now, because the whole morning we were waiting for that.”

The currency had advanced 1.38 cents Tuesday after the U.S. Federal Reserve cut short-term interest rates by half a percentage point, undercutting the attractiveness of the American currency.

The loonie was also boosted as crude oil hit new highs solidly above $80 (U.S.) a barrel.

“What the story is really saying is that Canadians are getting richer relative to the U.S. and hence Canadian assets are getting richer to the U.S.,” said CIBC economist Jeff Rubin.

“It really represents a very dramatic reversal of fortune from what would have happened 10 years ago when our resource economy made us look rust belt compared to the technological dynamo of the U.S. economy.”

The high dollar may make U.S.-made goods cheaper to buy in Canada and is a boon to Canadians travelling in the United States, especially cross-border shoppers.

But it will continue to put pressure on domestic manufacturers, who have to try to sell goods south of the border at a discount or have been priced out of U.S. markets.

Some foreign exchange analysts in the U.S. have predicted the Canadian dollar could reach as high as $1.05 U.S. if weakness in the American economy persists.
http://www.thestar.com/Business/article/258668

Share the Wealth guys

~Lev

AzTJ 09-20-2007 02:26 PM

I'm moving to Canada... at least I'll get health care there.

OdhinnsChick 09-20-2007 02:46 PM

Quote:

Originally Posted by AzTJ (Post 138948)
I'm moving to Canada... at least I'll get health care there.

You're better off paying for your health care yourself then letting the government take care of it for you. Otherwise you'll be sitting in long lines waiting for treatment.

AzTJ 09-20-2007 03:13 PM

Waiting for treatment is better than being denied treatment.

OdhinnsChick 09-20-2007 03:27 PM

Quote:

Originally Posted by AzTJ (Post 138968)
Waiting for treatment is better than being denied treatment.

Sometimes you get that also unfortunately.

AzTJ 09-20-2007 04:09 PM

Its easier to get health care here if your a drug addict than a respectable citizen.

antwon412 09-20-2007 04:18 PM

or here illegally

foxinthemudd 09-20-2007 04:21 PM

ya cause the respectable persons actually do it the legal way insted of going down to the corner and scoring dope from the local dealer or going into the hospital and lying about their aliment. #$#$$^g loosers.

Levinoss 09-20-2007 04:53 PM

Off topic much?

~Lev

JCS05Rubi 09-20-2007 04:58 PM

Not to mention its more expensive to let the goverment "take care of it for you."

Theres a reason we live in a free enterprise country. But, if you want government health care, please by all means, move to canada, instead of changing the US.

skeeter 09-20-2007 06:04 PM

Quote:

Originally Posted by AzTJ (Post 138968)
Waiting for treatment is better than being denied treatment.

What have you been denied treatment for?

The Canadian dollar equaling ours scares me, I have a feeling we're about to enter a serious recession.

AzTJ 09-20-2007 06:32 PM

Quote:

Originally Posted by skeeter (Post 139039)
What have you been denied treatment for?

Not me but my father. And not treatment per say. He has a horribly bad back and cannot work. He lives on pain meds, and it took over 2 1/2 years(with the help of several attorneys) for the government to acknowledge this and give him disability to help pay for all the meds that he needs and bills because he can't work. On top of this, the insurance that him and my mother have wont even try or pay for any operations to help ease the problems he has until he is completely paralyzed. Thats the main reason I am living with my folks. I've been paying half the bills for over 2 years, otherwise my mother wouldn't have been able to support both of them.


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