Canadian Dollar Tops American Buck

All hail the mighty loonie!

By Rob Annandale, 20 Sep 2007, TheTyee.ca

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It may have lasted only a few minutes and been a matter of .0008 cents but for the first time since the day René Lévesque became Quebec’s premier, the loonie overtook the greenback on world markets.

While most Canadians would hope this day is more auspicious for their country, their dollar – for as long as it exists – could hurt an economy that relies heavily on manufacturing, tourism and exports. In B.C., the billion-dollar film and television industry may lose more and more American customers as the budgetary incentive for making the trek up north disappears.

When the dollar was low, many hockey players preferred not to play up here. Now that the loon has taken flight, film projects will likely go elsewhere. Funny that. But maybe the Canucks will finally be able to bring in the top goalscorer they so desperately need. Oh wait, no cap room. Sigh.  [Tyee]

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  • rockyvoids

    4 years ago

    So

    Were not there yet. The looney going south with the buck isn't the aim. Aiming for par with the Euro should be game.

  • Fiat lux

    4 years ago

    The SPP and the NAU will

    The SPP and the NAU will take care of the Canadian dollar, when we'll have to switch to the worthless US$, with the help of our major political parties, to keep their imperial dreams going, by supporting it with our resources.

    The markets are controlled by a few major investors who are holding huge amounts of that worthless US dollar and are slowly turning them into Canadian resources and gold. When they have enough, with the global resources in their hands and under their control, they'll push the world into a depression, calculating that the desperate humanity will beg them to become dictators.

    As it happened many times in history on the national scale, but now the whole world is finally within their reach, thanks to the deregulated money creating powers of banks that gave them the chance to buy control of everything with imaginary capital, in other words, with nothing.

    The biggest and best racket in human history.

    Ed Deak.

  • RickW

    4 years ago

    We'll know when we hit parity.......

    .....when Starbucks, et al, remove the price differential stickers on their merchandise, showing the 30% disparity between US & Canadian dollar.

  • Frank

    4 years ago

    How we got here

    The US went in one direction and we went in a different one. It wasn't Cdn business or politicians that got us here, it was people needing good hospitals and social programs that took the hit from the cuts of Paul Martin and the Liberals.

    For those happy with where the loonie is sitting its incumbent upon them to remember the sacrifices made in this country to balance the books and cut taxes. It was the people needing good services that paid for both of those.

    So for those happy to run across the border and buy a new lawnmower and laugh all the way to the bank remember that you're the equivalent of Homer Simpson giving up his company health plan in return for a keg of beer.

    Parity has been reached, the investor class and cross-border shoppers are happy and meanwhile we have overcrowded schools and emergency rooms, decaying infrastructure, US corporations are running parts of our welfare system which has become a joke and Canadians have less control over their domestic economy than before.

    Ignorant bliss.

  • RickW

    4 years ago

    Frank

    Quote:
    meanwhile we have overcrowded schools and emergency rooms, decaying infrastructure, US corporations are running parts of our welfare system which has become a joke and Canadians have less control over their domestic economy than before.

    Party pooper! You are supposed to be distracted by the prospect of the cheaper lawnmower........

  • Average Joe

    4 years ago

    What a great way to set up

    What a great way to set up acceptance for a North American Currency. Has Canada, the USA and Mexico been talking lately?

    Maybe rockyvoids aim for the Euro is not too far off target.

  • morechatter

    4 years ago

    Is the rise in the Canadian

    Is the rise in the Canadian dollar a good thing? If it was based on our service industry and Canadians investing in themselves then I'd say way to go Canada but its not its outsiders who have invested in Canada and what are they investing in?
    Real Estate?
    Olympics?
    War involement?
    Health Care(enhanced)?
    Oil(tar sands)
    Is Canada now become a holding company for outside investors? Its not a good thing by any means because what they put in they can take out and their goes are dollar, our manufacturing, our lumber industry, our exporting our way of life then what?

  • morechatter

    4 years ago

    NoCanDo

    Is the message our politicans should have been giving the Oil giants all along when it comes to cost cutting measures and tax breaks and tax cuts because of the damage done to our environment and Albertans also being short changed when it came to royalities. Theres a book calling our politicans stupid to the last drop but its more to do with their eyes being to focused on the dollar to see the Gold. Why are Canadian politicans selling off Canadian owned energy companies? Alberta sold province owned engery company in 1993 and of course we now have our list in BC? Why in the God's name would a politian sell a valuable and scare resource one people go to war for and here we say got cash we got energy. I was just reading the Oil investors are threating to pull out if their demands aren't met. Like we couldn't figure out what to do with the oil ourselves. What is the cost of gas about a buck?

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