Quote:
Originally Posted by 450SEL6.9  Notic, our loonie reached parity with the U.S. dollar again. First time since 1976. Honestly, do our fellow Canadians understand the implications of this? All I hear about on TV are brain-dead newscasters saying it is cheaper to buy things in Buffalo and our currency goes a long way in the U.S. these days. I wonder how many more manufacturing jobs Canada will lose, but economists don't seem to care because the energy/commodity sector is lifting the entire country. |
yea i agree. i'm hoping that the energy and mining/exploration companies will use this strong cdn dollar to buy up smaller companies and properties in other countries to enhance their growth.
i recently read that saudi arabia has taken their currency peg off of the us dollar, if the rest of the middle east follows, this could mean more problems for the us dollar and economy in the long term ahead.
btw, here is Bush's response to what he thinks of a possible recession:
QUESTION: Do you think there’s a risk of a recession? How do you rate that?
BUSH: You know, you need to talk to economists. I think I got a B in Econ 101. I got an A, however, in keeping taxes low and being fiscally responsible with the people’s money.
watch the video here:
Think Progress » Bush: Don’t Ask Me About The Economy, I Got A ‘B In Econ 101′