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#1
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Canuck dollar passes US dollar
For the first time in 72 years (!!) the Canadian Dollar is now worth
more than its US counterpart. The last time this happened was during the depths of the Great Depression and after FDR abolished the gold standard for the dollar, letting it float on the currency market. The last time this happened, resistance started once the C$ his US$1.10. With Bush's ruinous laissez-faire fiscal policies still in place and China still letting its Yaun sink with the US$, this may not happen this time. Next in the Bush parade of ruinations: interest rates will shoot up considerably, further screwing up the housing market and "tight money" a reality for the first time in many years. Here comes the FOURTH Bush Recession, folks! He's even outdoing Ronnie RayGun in terms of recessions during his term! Still time to escape the worthless US$...buy AUS$! |
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#2
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Canuck dollar passes US dollar
For the first time in 72 years (!!) the Canadian Dollar is now worth
more than its US counterpart. Too lazy to check this date, but by memory when I came back to Winnipeg about 32 years ago I took a loss on the US dollars I brought with me. Then shortly I got hammered when it went the other way and I was paying off a loan at a U.S. bank with the weaker Can. dollar. I believe I recall a time around 1960 when the Canuckbuck was also worth more. I am recalling more than a nickel for a short duration that time. Still, dBob is correct in the notion that for the most part the U.S. dollar has been valued above the Canadian since forever. However. Other than some warm silly patriotic feeling about a higher dollar the lower dollar is always a boon to Canadian exporters and has kept holidayers and weekend shoppers home. The move to parity is somewhat unwelcome here by tourist industry and manufacturers. It will also probably mean Toronto and vancouver will be standing in for a lot less U.S. cities on the big and small screen. I like a canadian dollar at about 88 cents to the U.S. dollar. Being very lazy and pretty disinterested in financial dealings (other than meeting my commitments) I have left greenbacks in a US Bank to languish when I should have liquidated them at 58 cents. Hah, whotta maroon! And finally...how come Sloan has never hit big in the U.S.? NP - Matthew Sweet _Under The Covers_ "She May Call You Up Tonight" with Susanna Hoffs (not 8 track playing off the hard drive actually) |
#3
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Canuck dollar passes US dollar
On Sun, 30 Sep 2007 17:23:12 GMT, "William W Western"
wrote: It will also probably mean Toronto and vancouver will be standing in for a lot less U.S. cities on the big and small screen. snip The "runaway" TV producers, excoriated as they were by LA locals back when the C$ was cheap, are now returning home. Even with union crews in both locales, production in LA is now cheaper in real dollars (Euros??) than it is in either Van or Toronto. Next to come home: Locomotive production at EM-Diesel's London, ON plant will shut down except for Canadian domestic sales, and US production will resume at La Grange, IL, opening up as many as 1500 high worth factory jobs in greater Chicagoland. Now that EMD is freed from stupid and lazy GM headquarters management, this will happen quickly to take advantage of the slip of the US$. This may also lead to a resurgence in offshore sales of EMD product where once, in the '50s through '70s, they were the world leader. Under GM HQ management starting with Roger Smith's ruinous tenure, the foreign market for EMD power products dried up almost entirely. Some of that market was covered by GE in various degrees, but GE is more intent on destroying US manufacturing rather than building it, as per the dictums of its past huckster CEO, "Neutron Jack" Welch, another Bush operative in both 2000 and 2004. Stay tuned to this one...it could be a bellwether for the future of US heavy manufacturing in general. |
#4
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Canuck dollar passes US dollar
On Sep 30, 4:48 pm, DeserTBoB wrote:
On Sun, 30 Sep 2007 17:23:12 GMT, "William W Western" wrote: It will also probably mean Toronto and vancouver will be standing in for a lot less U.S. cities on the big and small screen. snip The "runaway" TV producers, excoriated as they were by LA locals back when the C$ was cheap, are now returning home. Even with union crews in both locales, production in LA is now cheaper in real dollars (Euros??) than it is in either Van or Toronto. Next to come home: Locomotive production at EM-Diesel's London, ON plant will shut down except for Canadian domestic sales, and US production will resume at La Grange, IL, opening up as many as 1500 high worth factory jobs in greater Chicagoland. Now that EMD is freed from stupid and lazy GM headquarters management, this will happen quickly to take advantage of the slip of the US$. This may also lead to a resurgence in offshore sales of EMD product where once, in the '50s through '70s, they were the world leader. Under GM HQ management starting with Roger Smith's ruinous tenure, the foreign market for EMD power products dried up almost entirely. Some of that market was covered by GE in various degrees, but GE is more intent on destroying US manufacturing rather than building it, as per the dictums of its past huckster CEO, "Neutron Jack" Welch, another Bush operative in both 2000 and 2004. Stay tuned to this one...it could be a bellwether for the future of US heavy manufacturing in general Well, that's because GE is the first major moron Fortune 500 corporation to be completely taken over by it's own moron child company, RCA. Which is also why RCA only makes alarm clocks for Wal-Mart Basement, anymore, rather than Radios, TVs, and Telephones in the Digital and Laser Age. |
#5
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Canuck dollar passes US dollar
Well, that's because GE is the first major moron Fortune 500
corporation to be completely taken over by it's own moron child company, RCA. Which is also why RCA only makes alarm clocks for Wal-Mart Basement, anymore, rather than Radios, TVs, and Telephones in the Digital and Laser Age. So many morons. So little time. |
#6
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Canuck dollar passes US dollar
On Tue, 02 Oct 2007 14:50:48 -0700, "
wrote: Well, that's because GE is the first major moron Fortune 500 corporation to be completely taken over by it's own moron child company, RCA. snip Uh...there WAS no connection between GE and RCA until "Neutron Jack" Welch did a hostile takeover of RCA in the '80s. Which is also why RCA only makes alarm clocks for Wal-Mart Basement, anymore, rather than Radios, TVs, and Telephones in the Digital and Laser Age. snip RCA doesn't make anything anymore. The entity ceased to exist after GE bought them out. It's a brand name, like "Westinghouse," "Fisher," "Crosley" and countless others that used to represent an American company but now is a name simply "pimped out" to the Chinese for their use in rebadging badly made Chinese crap at Wally-Fart. And, stupid Americans buy it. Friends don't let friends shop at Wally-Fart, by the way. |
#7
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Canuck dollar passes US dollar
On Wed, 03 Oct 2007 02:19:42 GMT, "William W Western"
wrote: Well, that's because GE is the first major moron Fortune 500 corporation to be completely taken over by it's own moron child company, RCA. Which is also why RCA only makes alarm clocks for Wal-Mart Basement, anymore, rather than Radios, TVs, and Telephones in the Digital and Laser Age. So many morons. So little time. snip One seems to have followed Noodles in here. Drat the luck! |
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