Shady Posted March 10, 2010 Report Posted March 10, 2010 Big news! Canadian dollar likely to trump US greenback: expertsOTTAWA (AFP) – The Canadian dollar, or loonie as it is affectionately called here, is likely to soar above parity with the US greenback this year, experts at a Canadian bank said Wednesday. Canadian Imperial Bank of Canada (CIBC) chief economist Avery Shenfeld said the Canadian dollar had already gained several cents in recent weeks as the market firms up expectations of an interest rate hike in July. Link I know many people here will blame Harper. But it's not his fault. It's not anyone in Canada's fault. It's the fault of Barack Obama and his destructive economic policies, which are pushing the American dollar into the ground. There isn't much we can do about it. Unless of course we want the federal government to mirror Obama's reckless record-setting deficit spending, as well as printing of money. It's pretty hard to keep your home worth less than your neighbour's, when your neighbour is burning his down. Quote
Alta4ever Posted March 10, 2010 Report Posted March 10, 2010 Big news! I know many people here will blame Harper. But it's not his fault. It's not anyone in Canada's fault. It's the fault of Barack Obama and his destructive economic policies, which are pushing the American dollar into the ground. There isn't much we can do about it. Unless of course we want the federal government to mirror Obama's reckless record-setting deficit spending, as well as printing of money. It's pretty hard to keep your home worth less than your neighbour's, when your neighbour is burning his down. Shhh Shady that is blasphemous you should not say such things about the hopey changy saviour. Although it is right as they devalue the US dollar and ours continues to be a commodity dollar it will rise, but remember what goes up must come down and the fall will be hard. Quote "What about the legitimacy of the democratic process, yeah, what about it?" Jack Layton and his coup against the people of Canada “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” President Ronald Reagan
Smallc Posted March 10, 2010 Report Posted March 10, 2010 The US government has been wracking up debt for a long time. It isn't all Obama's fault. There's really not much he can do at this point. Quote
Alta4ever Posted March 10, 2010 Report Posted March 10, 2010 The US government has been wracking up debt for a long time. It isn't all Obama's fault. There's really not much he can do at this point. He could balance the budget. He could cut program spending, but between healthcare and jobless benefits he wants to add another couple of trillion to the budget. He does have ability to fix this, its just not in his agenda. He has increased the deficit more then any other president in history. Quote "What about the legitimacy of the democratic process, yeah, what about it?" Jack Layton and his coup against the people of Canada “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” President Ronald Reagan
Wilber Posted March 10, 2010 Report Posted March 10, 2010 He could balance the budget. He could cut program spending, but between healthcare and jobless benefits he wants to add another couple of trillion to the budget. He does have ability to fix this, its just not in his agenda. He has increased the deficit more then any other president in history. So could have Bush. The Federal debt doubled during his tenure. This is a runaway train, god knows what it will take to stop it. Quote "Never trust a man who has not a single redeeming vice". WSC
Smallc Posted March 10, 2010 Report Posted March 10, 2010 He could balance the budget. No, he couldn't, not yet. I doubt he will, but to do it during the recession would have been stupid. Quote
bush_cheney2004 Posted March 10, 2010 Report Posted March 10, 2010 He could balance the budget. He could cut program spending, but between healthcare and jobless benefits he wants to add another couple of trillion to the budget. He does have ability to fix this, its just not in his agenda. He has increased the deficit more then any other president in history. Not as much as you may think....the US budget has non-discretionary spending over which Obama has zero control. Congress approves budgets and allocates funds. Quote Economics trumps Virtue.
ToadBrother Posted March 11, 2010 Report Posted March 11, 2010 Shhh Shady that is blasphemous you should not say such things about the hopey changy saviour. Although it is right as they devalue the US dollar and ours continues to be a commodity dollar it will rise, but remember what goes up must come down and the fall will be hard. Um, the US dollar was tanking before Obama came on the scene. Quote
ToadBrother Posted March 11, 2010 Report Posted March 11, 2010 Not as much as you may think....the US budget has non-discretionary spending over which Obama has zero control. Congress approves budgets and allocates funds. A lot of people seem to think Obama is some sort of Prime Minister Quote
bush_cheney2004 Posted March 11, 2010 Report Posted March 11, 2010 Um, the US dollar was tanking before Obama came on the scene. This is by design....called "weak dollar policy"....very good strategy when running up trillion dollar debt. Quote Economics trumps Virtue.
punked Posted March 11, 2010 Report Posted March 11, 2010 This is by design....called "weak dollar policy"....very good strategy when running up trillion dollar debt. I think so too, it will drag all manufacturing out of Canada, and Mexico. It has been done before and it will create jobs, while ones money might not go as far they will at least be working. Quote
Shady Posted March 11, 2010 Author Report Posted March 11, 2010 I think so too, it will drag all manufacturing out of Canada, and Mexico. It has been done before and it will create jobs, while ones money might not go as far they will at least be working. Short-term gain for long-term pain. Quote
bush_cheney2004 Posted March 11, 2010 Report Posted March 11, 2010 Short-term gain for long-term pain. True....but many in Canada will not like the pain of a rising loonie. Just sit back and wait for the economic whining. Quote Economics trumps Virtue.
ToadBrother Posted March 11, 2010 Report Posted March 11, 2010 True....but many in Canada will not like the pain of a rising loonie. Just sit back and wait for the economic whining. Well, Canadians will certainly see soon enough just how pointless a victory it was getting us into the Buy American stimulus programs were. Quote
Wilber Posted March 11, 2010 Report Posted March 11, 2010 It will present some new challenges but if forced to make a choice, I think I would rather be worth more than less. Quote "Never trust a man who has not a single redeeming vice". WSC
Smallc Posted March 11, 2010 Report Posted March 11, 2010 Well, Canadians will certainly see soon enough just how pointless a victory it was getting us into the Buy American stimulus programs were. Actually, I think it was useful, because it necessitates the elimination of most provincial trade barriers. Quote
eyeball Posted March 11, 2010 Report Posted March 11, 2010 This is by design....called "weak dollar policy"....very good strategy when running up trillion dollar debt. What do you call the strategy of running up a trillion dollar debt, the "stupid dollar policy"? Quote I said now watch what you say they'll be calling you a radical, a liberal, oh fanatical criminal
bush_cheney2004 Posted March 11, 2010 Report Posted March 11, 2010 What do you call the strategy of running up a trillion dollar debt, the "stupid dollar policy"? No...we call that "Rope-A-Dope". Quote Economics trumps Virtue.
eyeball Posted March 11, 2010 Report Posted March 11, 2010 True....but many in Canada will not like the pain of a rising loonie. Just sit back and wait for the economic whining. I see gas went up 10 cents a liter today. Quote I said now watch what you say they'll be calling you a radical, a liberal, oh fanatical criminal
M.Dancer Posted March 11, 2010 Report Posted March 11, 2010 I see gas went up 10 cents a liter today. Pray for a stronger dollar then.... Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
Wilber Posted March 11, 2010 Report Posted March 11, 2010 Pray for a stronger dollar then.... Doesn't matter, we'll keep taxing it so it is still cheaper in the US. Quote "Never trust a man who has not a single redeeming vice". WSC
M.Dancer Posted March 11, 2010 Report Posted March 11, 2010 Doesn't matter, we'll keep taxing it so it is still cheaper in the US. That ain't the point. The price of oil per barrel is pegged in US $$...a higher |CDN $ means lower relative cost per barrel in CDN.... Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
eyeball Posted March 11, 2010 Report Posted March 11, 2010 No...we call that "Rope-A-Dope". Pretty dopey idea alright. Quote I said now watch what you say they'll be calling you a radical, a liberal, oh fanatical criminal
Shady Posted March 11, 2010 Author Report Posted March 11, 2010 No...we call that "Rope-A-Dope". LOL, let me know how that rope-a-dope is going when just paying the interest on the debt takes up $800 billion dollars per year by 2020. Quote
punked Posted March 11, 2010 Report Posted March 11, 2010 LOL, let me know how that rope-a-dope is going when just paying the interest on the debt takes up $800 billion dollars per year by 2020. Hahaha that is what they were saying in FDR's days, and then again in Reagan's. You think that debt would catch up with them but they still have a real long way too go to catch up to Canada's debt to GDP Shady. http://www.webcitation.org/5nvfxCBRI Quote
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