The Canadian dollar
Posted 22 October 2008 - 06:15 PM
Posted 22 October 2008 - 07:02 PM
Posted 22 October 2008 - 07:10 PM
Canadians are nice people, we should get a break!!!
Posted 22 October 2008 - 07:17 PM
Posted 22 October 2008 - 07:26 PM
| Originally Posted by Kat81 |
My wedding is over BUT.... My husband gets paid in Canadian money. We have to wire it down here to the States where we live. Each time we wire we are losing like two hundred for every thousand. So if we transfer five thousand we are losing a thousand dollars!! Not fun!
Posted 22 October 2008 - 08:18 PM
| Originally Posted by MonoAmor |
Wow! That is so unfair. As if taxes and everything else aren't already taking off enough!!
Posted 22 October 2008 - 11:05 PM
I'm also in the midst of etsy.com shopping for wedding accessories... and suddenly, I've lost my shopping appetite... ebay and cross-border have been cut already, but I was holding onto being able to get my garter, earrings, and headpiece from etsy!
Posted 22 October 2008 - 11:26 PM
| Originally Posted by Kat81 |
Yeah no doubt. We were talking to the bank about it the other day and they said it is because everything is getting cheaper in the States so everyone is coming here to spend their money.... He said it probably won't last long and should get back to normal as soon as everyone realizes they need to be spending in Canada!! SIGH!
All this being said, the US economy and especially the government's financial situation is in much worse shape than Canada's right now. Although our stock markets have taken a huge hit in the past couple weeks, the whole sub-prime mortgage crisis that the US has been experiencing for a year has not really hit Canada because Canada doesn't have a sub-price mortgage crisis (more regulation in place to prevent those times of mortgages). And more importantly, the US gov't financial situation is much worse, they are posting HUGE deficits because of the war in Iraq whereas here in Canada we have been posting large surpluses in the past few years. We may post a small deficit in the next year due to the impending recession but it will likely be a small one while the US posts another huge one.
So all this to say it's just a matter of time before oil prices will go back up, and likely the canadian dollar too, it's just a question of whether it's a few weeks or months or a year. Right now most people are predicting these tough economic times to last about a year or a year and a half (although the crazy stock market crisis we've seen in the past few weeks will likely be less long than that, but a year or year and a half for the entire economy to get back on track.
P.S. Can you tell I'm an economist ? ? ? Actually I don't know shit about any of this stuff except for what I read in the papers and the fact that my two economic degrees allow me to actually semi-understand what I read. So all this is just the general consensus of what I have been reading in the news, not my own personal intelligence/beliefs.
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