Soaring Loonie

[Bronco]

Haven't seen anybody say anything here about this. Thoughts? Who likes it, who doesn't? While it's psychologically gratifying to stick it to the arrogant bastards down south, is it really a good thing for the Canadian economy? Is this thread too serious for TTP?

 

[Yoda]

I know i'll be hitting Ebay, The Golf Warehouse, NewEra Caps, etc pretty hard in the next few weeks for myself and Christmas gifts. Might as well save a few bucks now.

Mostly likely i'll procrastinate and wait until the night before but you never know.

 

[italian_stallion21]

I love it, people are so happy when they come to buy US for vacations (although pissed when $1000 US is only getting them $970 CDN). I'm going to the states soon too so it's great. Might not be so great for certain industries though.

 

[FCbytca]

went to Bellingham last week and got my self the puma kings classic for 110 US...........go to soccerwest or any other store here and see what they charge for them...the original kings go for 75US on sale atm. they didn't have my bloody size though.

 

[johnnybluenose]

This may be too serious for us here at ttp.

I think more and more the Canadian economy and business world has chosen wisely and tied themselves more and more to other-than US companies, govt's etc...And this is why the CDN buck has soared even in contrast to the Euro, Pound, Aussie Dollar, Kuwaiti Dollar etc...

Many Many countries started to sell off their gold etc and buy US Bucks, and so now their currency is forever doomed...

I can see why certain manufacturing companies in Canada would feel the hurt because of this, but really with the ever growing tech sector and non manufacturing sectors here in Canada, (we are becoming more and more just a parts and smarts economy and having things assembled and done overseas) This is nothing short of Brilliant for us, and it is really helping shape us out of the 'America Junior' stereo-type.

personally I love it, especially as I spend a ton of time across the 49th. Their goods and services remain priced well below ours, and now the bucks are on par...Brilliant IMHO...just my $0.02.

 

[Yoda]

Would be a great time to go down and play Pebble Beach. It'll never be cheaper than now!

 

[johnnybluenose]

I'm just jacked for this weekend, following my Saturday night game I'm driving down to Seattle for the Hawks game...never be cheaper to buy my Tatupu jersey than right now...

 

[italian_stallion21]

I'm just jacked for this weekend, following my Saturday night game I'm driving down to Seattle for the Hawks game...never be cheaper to buy my Tatupu jersey than right now...

It's too bad you'll be spending that money on a 3rd place in their division team

 

[Dude]

This may be too serious for us here at ttp.

I think more and more the Canadian economy and business world has chosen wisely and tied themselves more and more to other-than US companies, govt's etc...And this is why the CDN buck has soared even in contrast to the Euro, Pound, Aussie Dollar, Kuwaiti Dollar etc...

Many Many countries started to sell off their gold etc and buy US Bucks, and so now their currency is forever doomed...

I can see why certain manufacturing companies in Canada would feel the hurt because of this, but really with the ever growing tech sector and non manufacturing sectors here in Canada, (we are becoming more and more just a parts and smarts economy and having things assembled and done overseas) This is nothing short of Brilliant for us, and it is really helping shape us out of the 'America Junior' stereo-type.

personally I love it, especially as I spend a ton of time across the 49th. Their goods and services remain priced well below ours, and now the bucks are on par...Brilliant IMHO...just my $0.02.

Destructive for our manufacturing sector here and across Canada. Our single biggest export partner is the US. This makes the past Softwood lumber crisis a minor issue.

Plus, my commissions are taking a bath on projects I sold 12 months ago, and are now closing. Cnut.

That said, our local manufacturing sector will remain strong short term, and my equipment just became 10% less expensive for us to buy on re-sell, so that is nice on some of the recently closed jobs carrying US made equipment.

As a whole, I think it is bad. 1.25 CDN / USD exchange seemed to be perfect both ways.

 

[johnnybluenose]

Luckily for the consumer the CDN Feds will hold the interest rates where they are with a slight chance of a nominal rise, that is it, meanwhile the Yanks will continue to pull the rates down and down to save the entire country from impending bankruptcy.

 

[Regs]

In terms of soccer boots and apparel, why would anyone NOT want to support local soccer shops? At the end of the day, how much are you really gonna save?

 

[johnnybluenose]

Especially if you take into account the fuel and time if yuo are simply making a special trip?
I hit up the Nike Factory outlet in Oregon on my way home from Disneyland to buy 8 pairs of $3 USD total 90 Dry-fit socks...but that is different than making a special trip just to soccer shop...

But then I'm not sure that is what anyone is intending,..

 

[Kevin Hector]

I'm planning a trip to the Bellingham Burger King. They have woppers on for $0.50

 

[FCbytca]

actually went to Mt. Baker first and than made the pit stop at Bellingham, how much did I save? about a 100 on the boots and 200 on a Ski jacket....and the gas is cheaper, money well spent and believe me, I supported the local soccer shops here for too long and only to get screwed...a drive out to Bellingham will cost ya 30 bucks, so yet, definetally worth it

 

[FCbytca]

oh and one more thing, since so many of us love the copa munduals, us retail price is 90 to a 100 bucks, go to your local soccer shop and see what they go for here lol

 

[robj]

2 words......" Vegas Baby "

 

[Tim Berners-Lee]

loonie aint doin shite...american dollar is falling

 

[Reccos]

loonie aint doin shite...american dollar is falling

I don't think this is entirely accurate.

Canada has some issues with its credit market too (not like the US) but right now with what some call the "oil steroid" Canada's dollar just might continue to get even a bit stronger before pulling back to the lower .90s by end of the year.

Like noted above the Bank of Canada is not likely to make any moves and if they don't this means the Cdn dollar gets even stronger possibly as much as 5%.

We will no doubt know Tuesday when David Dodge speaks in Vancouver to the Board of Trade on "Turbulence in credit markets: causes, effects, and lessons to be learned." He won't say if he is going to raise the lending rate but he will signal his views.

I also agree that shopping locally is better even if it is a bit more costly. It is our local businesses who pay taxes locally and help take some of the tax burden off the individual taxpayers.

 

[Reccos]

This may be too serious for us here at ttp.

I think more and more the Canadian economy and business world has chosen wisely and tied themselves more and more to other-than US companies, govt's etc...And this is why the CDN buck has soared even in contrast to the Euro, Pound, Aussie Dollar, Kuwaiti Dollar etc...

Many Many countries started to sell off their gold etc and buy US Bucks, and so now their currency is forever doomed...

I can see why certain manufacturing companies in Canada would feel the hurt because of this, but really with the ever growing tech sector and non manufacturing sectors here in Canada, (we are becoming more and more just a parts and smarts economy and having things assembled and done overseas) This is nothing short of Brilliant for us, and it is really helping shape us out of the 'America Junior' stereo-type.

personally I love it, especially as I spend a ton of time across the 49th. Their goods and services remain priced well below ours, and now the bucks are on par...Brilliant IMHO...just my $0.02.

What is ironic is that the banks in China, Japan and the UK etc have been buying US Treasury Bills every week in a move to keep the US dollar thriving and thus the US economy afloat to ensure that China has a place to sell the cheap goods the US are not bitching about. That party may be about to end, not sure though.

I am not one to believe in conspiracy theories but I am now convinced that the central banks have acted in league to keep the gold price down. I used to snidely laugh at the GATA presentations at local investor conferences but now think they are right. This is what James Turk of GATA thinks has happened to gold. I have most of my investment portfolio in gold stocks and am waiting for the huge run to be rich....lol. But one of my Canadian gold producers gets hurt as the CDN dollar rises.


"The gold cartel is the unholy alliance between a few of the big bullion trading banks, several central banks with large gold holdings and the US government. This reprehensible group seeks to manage and completely control the gold price to their advantage, regardless of the disruption that they cause to the free-market. There has been considerable analysis and documentation of the gold cartel’s activity, much of which has received wide-spread attention because of the persistent efforts of the Gold Anti-Trust Action Committee, Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market.


Each of the cartel members has a different objective. The US government aims to make the dollar look worthy of being the world’s reserve currency, which it hopes to do by beating up on gold, which was the world’s global currency until it was supplanted by the dollar.

Ironically, the dollar became the world’s reserve currency in the 1940’s because back then it was “as good as gold”, being backed by and redeemable into the precious metal. So gold and the dollar were complementary to one another. Gold gave the dollar its value, and the dollar circulated in place of gold as it was a more efficient currency. That harmonious relationship changed in 1971 when the dollar became fiat currency with its value no longer defined as a weight of gold. The result was that gold and the dollar became competitors, their respective values depending upon the relative demand for each currency. So by keeping the gold price low and therefore unattractive, the US government aims to lessen the demand for gold, diverting instead that monetary demand into the dollar.

The central bank members of the cartel are simply following the US government’s wishes through IMF dictates. They are loyal members of the central banking ‘club’, and are also fiat currency addicts. Their respective governments want to print money ‘out of thin air’, which is a result only made possible by fiat currency. In this way a government has at its command whatever money, albeit an inflating fiat currency, that it needs for its spending aspirations.

The objective of the few bullion banks selected to participate in this scheme is more pedestrian. They are in it merely for the profits, executing central bank instructions and front-running those trades with their own in-house trading positions."

 

[Backline16]

Hate to break it all of you, but the falling US dollar is part of the necceary process for a unified currency in North America. The "Amero" will replace US dollars. Canadain Dollars, and the Peso.

This will be acomplished under the Security and Prosperity Partnership (SPP), and could be in place as early as 2010.

Don't think I'm right... research it for yourselves. Google : Amero