Up, up, she goes!

[maplesyrup]

That's a good quote, you old Newf.

The Canadian dollar should neither be high nor low. It should be at its "just" value.

When a price falls/rises, there are winners (to varying degrees), losers (to varying degrees), people who don't care (no effect) but overall, the world is better off.

The Left fundamentally does not understand this idea.  Maple Syrup, for example, lives in a world of 80,000 years ago where the strong defeat the weak.

For Maple Syrup, a strong "Canuk dolla" means Canada is "Numbuh Wun".

In fact, the great thing about a price is that it forces people to reveal the truth.  Force? Maple Syrup has voluntarily broadcast to all that he is self-interested and greedy (despite his claims to the contrary).

I suspect MS gets his cheques in Canadian. He believes he'll always get them. And he believes he'll be able to buy something with the cheques.

August1991.....fuck you and your right wing personal attacks. Why don't you lay off the sauce, eh! :angry:

[August1991]

August1991.....fuck you and your right wing personal attacks. Why don't you lay off the sauce, eh!

Personal attacks? I'm sorry about my suggestion of your cheques and livelihood. I retract it.

But MS, I advise you to diversify your savings.

[maplesyrup]

August1991....lay off the booze and we'll be fine!

[August1991]

Maple Syrup, I must say, this forum is boring without you. I'm "happy" to see you back.

Let's argue "politely" as "Canadians".

Mea culpa. We should all defend your right to be here.

[maplesyrup]

Dollar expected to fall amid China's rumoured selling

Most favourable news and the US Dollar continues to fall - a nine year low.

And has anyone been watching the price of gold recently - it is at a 16 year high.

If China is indeed getting out of holding US dollars what is the significance for Canada?

It seems like eveyone wants to shun the US like they have some contagious disease.

Perhaps Canada needs to seriously diversify and look at cancelling our trade agreements with the US as well.

[maplesyrup]

Canadian Dollar Surges to 84 U.S. Cents After Dodge Comments

Lookin' good Canada!

I forecast an 85 cent dolla by Christmas - it sure looks like I am going to have to raise my forecast upwards shortly.

[maplesyrup]

Finally!

The moment of truth!

Is gold going to $500?

[Greg]

maplesyrup and August1991, lets cool the off-topic chat and insults in this thread.

[maplesyrup]

Sounds good to me!

Canadian Dollar Gains Most Versus Dollar: Currency Scorecard

Our Canadian dolla is really rockin' & rollin'. Why Canada? I think it has a lot to do with our commodities, our resources oil & gas, gold, nickel, copper, iron, etc., which are in demand. Not that complicated - just the ole law of supply & demand.

[kimmy]

Canadian Dollar Surges to 84 U.S. Cents After Dodge Comments

Lookin' good Canada!

I forecast an 85 cent dolla by Christmas - it sure looks like I am going to have to raise my forecast upwards shortly.

Woo-hoo!

Yee-haw!

Awesome!

w00t!

More terrific news for wealthy Canadians!

Not such good news for many Canadian workers, especially those in manufacturing. Oh well. Perhaps Syrup will hire some out of work Vancouver actors to wash and wax his Escalade when he returns from his trip to Las Vegas.

-kimmy

[maplesyrup]

Ordinary Canadians who save for a whole year and then go on their miserly Canadian vacations, occasionally to foreign lands, are delighted about the appreciation in the value of the Canadian dolla. Canadian consumers are happy as well. Just ask someone who has to buy groceries or a TV, etc. Let's focus on helping Joe Average instead of these special interest groups, eh!

BTW you don't have to worry about the rich in Canada, as with our tax laws, they are ensured to remain rich.

[maplesyrup]

Flight to Quality

Paul Wells often stands out from the our pack of sheep, er mainstream media, with his well thought out independent intelligent viewpoint. The US dolla has been sick for some time, and now it seems to be going into a coma.

[Cartman]

More terrific news for wealthy Canadians!

Not such good news for many Canadian workers, especially those in manufacturing. Oh well. Perhaps Syrup will hire some out of work Vancouver actors to wash and wax his Escalade when he returns from his trip to Las Vegas.

What exactly do you believe is a good level for the dollar Kimmy?

Is any change up or down bad?

What, if anything, do you think the government should do about it?

What do you think is causing it?

[kimmy]

Ordinary Canadians who save for a whole year and then go on their miserly Canadian vacations, occasionally to foreign lands, are delighted about the appreciation in the value of the Canadian dolla. Canadian consumers are happy as well. Just ask someone who has to buy groceries or a TV, etc. Let's focus on helping Joe Average instead of these special interest groups, eh!

BTW you don't have to worry about the rich in Canada, as with our tax laws, they are ensured to remain rich.

Joe Average would be better off with a lower Canadian dollar, not a higher one. If ordinary Canadian workers whose employment is threatened by the skyrocketting dollar are a "special interest group", then so be it.

To me, the people who benefit from the high dollar sound more like "special interest groups."

Have you actually noticed anything getting cheaper when you go shopping? Has anybody? Anybody?

Personally, I haven't. Prices seem to be staying exactly the same. Consumers aren't benefitting from the high dollar. Store owners are beneffiting from the high dollar. They are pocketting the savings from the improved exchange rate. Another "special interest group" that the high dollar helps, while ordinary Canadians reap few of the benefits.

-kimmy

[Cartman]

Have you actually noticed anything getting cheaper when you go shopping? Has anybody? Anybody?

Has anybody heard of anyone losing their jobs today over the higher dollar? Has anybody? Anybody?

[maplesyrup]

Sounds like some people don't want Canadian workers to be productive.

So some industries or occupations are faced with a challenge. It is not the time to start whining abouit it, but to roll up your sleeves and work towards solving the problem. My goodness what a loser mentality some people have.

[kimmy]

Have you actually noticed anything getting cheaper when you go shopping? Has anybody? Anybody?

Has anybody heard of anyone losing their jobs today over the higher dollar? Has anybody? Anybody?

Yes, Cartman, I have. I linked some articles earlier in this thread. One indicates Vancouver's film industry is down over 30% from a year ago. A second was an analysis from the Canadian Tourism Association illustrating the effect that a rise in the Canadian dollar has in reducing international tourism to Canada and increasing Canadians spending their vacation money outside of Canada-- the rise from $.74 US to $.84 US will cost Canada's hospitality industry in the billions. The third article included some information on the job losses and factory closings that resulted in the early 1990s, the last time the dollar was this high.

Good enough? If not, just keep your eyes open. There'll be more.

-kimmy

[maplesyrup]

Even if that were true, and I have my reservations, what is preventing those people from retraining themselves and getting a job in another industry? Or are they helpless?

[Cartman]

http://www.cbc.ca/news/background/dollar_cdn/

That could mean lost jobs if the weakest companies are forced out of business. But Atkins said the loss of the price advantage arising from the cheap dollar will force exporters to be more efficient. "This will be good for them in the long run," he said.

Cheaper U.S. dollars also provide Canadian companies with an opportunity to invest in the tools that make them more competitive. Much of the software and machinery Canadian companies buy to run their operations are bought from the U.S. A more favourable exchange rate means those companies can invest more in those tools of efficiency.

Generally, the high loonie seems to be the result of positive economic forces for a change and the weak greenback the result of poor performance in the US. I will start to worry if the US experiences a major selloff.

[maplesyrup]

Loonie cracks 84 cents

With this week's strong start for the loonie, Mr. Porter said, a “reasonable, medium-term target that is beginning to crop up on the horizon” is the 1991 high of 89.40 cents.

The greenback's current struggles will likely persist later this week, when the U.S. government releases its report on the size of the nation's trade deficit in September. Economists expect the deficit to hold at $54-billion (U.S.), matching the previous month's figure. If forecasts hold, the September number would be the second biggest on record.

OK I'm revising my forecast for Xmas, 2004 - It was 85 cents but now it is 90 cents. This is absolutely great news for ordinary Canadians.

[Cartman]

Kimmy Posted on Nov 8 2004, 05:15 PM

The third article included some information on the job losses and factory closings that resulted in the early 1990s, the last time the dollar was this high.

From Maple's link above.

On Sunday, meanwhile, Bank of Canada Governor David Dodge told reporters the Canadian dollar's recent showing wasn't a surprise, given market conditions and so far it has not harmed exports.

[Guest eureka]

Canada was muchmore productive relative to the US when its dollar was higher than ot is now. What is needed is a not too swift rise in order to give us time to adjust.

The effect of the decine in the US will be, in the medium term, to bring inflation pressures there. Devaluation never has more than a short term benefit. Those higher costs in the US will bring their tourists to Canada again and will offset the reduced exchange rate advantage.

The sell off of the US$ by China may also be contributing to the decline. It will hurt China as well as the US and may bring some measures to defend the dollar since China holds an enormous amount in American dollars.

I think the Euro was destined to become the more important reserve currency anyway but this gives a push to the process.

We may suffer a bit in the short term, but, I think, the longer term will prove beneficial.

[kimmy]

More terrific news for wealthy Canadians!

Not such good news for many Canadian workers, especially those in manufacturing. Oh well. Perhaps Syrup will hire some out of work Vancouver actors to wash and wax his Escalade when he returns from his trip to Las Vegas.

What exactly do you believe is a good level for the dollar Kimmy?

Is any change up or down bad?

What, if anything, do you think the government should do about it?

What do you think is causing it?

What do I think would be a good level for the dollar? That's an interesting question. What level would be of personal benefit to Kimmy? Or what level would be of greatest benefit to the greatest number of Canadians?

Is any change bad? Change is change. It will affect some people for the better, some people for the worse, and some people not at all.

What should be done about it? Obviously that will have to be in the hands of people who know about these things. But shouldn't we as Canadians at least be aware of the issues? Shouldn't we make an effort to recognize that whatever monetary policy is set, there will be winners and losers? Shouldn't we take a moment to look and see what monetary policy they decide on, and and which Canadians benefit from it and which Canadians bear the consequences?

What do I think is causing it? I hear the massive deficits being run by our friends to the south may have something to do with it...

I'm not really advocating one way or the other. I just find Maplesyrup's rah-rah, boo-yah nationalist boosterism to be uniformed. Canada doesn't "win" anything when our dollar rises. It's a change, that helps some Canadians and hurts others. In many instances, the ones who will benefit are often well-off Canadians, and the ones who will suffer will most likely be average Canadians. Which is why I find it so funny that Jack Layton Jr here is jumping up and down with excitement at the dollar's rise.

I think that in many cases, "streamlining operations" and "becoming more competitive" are code-phrases for paying less in taxes and salaries and benefits, which left-wing types won't be happy about. I would also suspect that in many cases, the new tools which you say will be purchased will likely be "labor saving"... in some cases that means getting more output from the same number of employees. But in other cases, it might mean getting the same output from fewer employees.

Even if that were true, and I have my reservations, what is preventing those people from retraining themselves and getting a job in another industry? Or are they helpless?

Why Syrup... what a right-wing thing to say.

-kimmy

[maplesyrup]

If you tried responding to the question instead of the personal putdowns you might develop a bit more credibility here.

[kimmy]

If you tried responding to the question instead of the personal putdowns you might develop a bit more credibility here.

Sorry, I got carried away. I'll try again.

Even if that were true, and I have my reservations, what is preventing those people from retraining themselves and getting a job in another industry? Or are they helpless?

The idea that people will have to adapt to change, and will have to take responsibility for their own lives and careers is just fine with me.

I just never expected this kind of adapt-or-die, Darwinist, survivalist kind of idea coming from you. It's the sort of thing I would expect from Stoker. I'm wondering if it's a one-time-only thing, or if your new survival of the fittest attitude will apply to other discussions, like with the homeless or people who can't afford healthcare or tuition fees.

-kimmy