Canadian dollar equals US dollar

Discussion in 'Et Cetera, Et Cetera' started by burns1de, Sep 21, 2007.

  1. burns1de

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    First time I've seen something like this in my lifetime:

    Canadian dollar equals US dollar

    TORONTO: Canada's dollar traded equal to the US currency for the first time in three decades, capping a five-year run on the back of booming demand for the nation's commodities.

    The Canadian dollar rose 1.0002 US dollar, before retreating to 99.81 US cents in New York. It has soared 62 per cent from a record low of 61.76 US cents in 2002.

    The US dollar fell as low as 99.98 Canadian cents today. The Canadian currency last closed above one US dollar on November 25, 1976, when Pierre Trudeau was Canada's prime minister.

    The move to parity marks a milestone for a currency dubbed the loonie for the bird that adorns the nation's one-dollar coin. Parity also symbolizes Canada's emerging clout in a world economy increasingly short of the energy, grains and metals the country produces.

    Canada, the world's eighth-biggest economy, has benefited from rising demand for copper, gold, wheat and oil from neighbouring US and emerging economies such as India and China.

    The country is the world's largest producer of uranium, the second-biggest exporter of natural gas, and sits on the largest pool of oil reserves outside the Middle East.

    Canada is also the world's second-largest exporter of wheat, which rose to a record this month.
    Could Canada become the next economic powerhouse? Discuss.
     
  2. Osiris

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    I think it's great. Canada gets passed off as a country with nothing to offer on the world map but tourism. This kind of puts waste to that thinking.
     
  3. Andro Man

    Andro Man New Member

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    Define powerhouse.....Coz if you're just basing it on natural resources, look at Germany and Japan, next to nothing, but still the 2nd and third place in the world. So I'm not sure what you're trying to say

    Canada definitely has a lot to offer. It certainly tops my list of countries I'd love to emigrate to.
     
  4. frizzle

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    Just shows you how shit the American dollar is.
     
  5. tim36

    tim36 Member

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    Wow, the loonie got above the US dollar for a moment, it goes to show that the times are changing and the world economy is ever shifting.
     
  6. Wrey

    Wrey New Member

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    I think that Canada has for too long been written off as a "knock-off America." I've been to Canada. The cities are beautiful and CLEAN! The people are diverse and friendly. The landscape is varied and gorgeous.

    Oh Canada!
    My home and native land.....!

    :cool:
     
  7. burns1de

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    Actually, it just shows you how much our natural resources are in demand now (and will continue to be in the future).

    Which reminds me... note to Russia and Denmark: the Arctic is ours, so FUCK OFF. Heh. :biggrin1:

    It's the True North, Strong And Free indeed (especially in light of the PATRIOT Act I + II :rolleyes:).
     
  8. naughty

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    Workin' up a good pot of mad!
    Shucks ! I guess this means I wont be able to get good deals on shoes from Fluevog and Gravity Pope anymore! :mad:
     
  9. Osiris

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    Not necessarily. It just shows we have not been focusing on our economy of late and that is a fact. The government is too obsessed with the war on terrorism and losing sight of the issues at home.

    Canada is beautiful country and there is a lot the world could learn from some of Canada's policies and environmental management in some areas. To call Canada a knock off America is so untrue. Canada has it's own way of doing things and I think this is a sign the world is recognizing it and taking greater stock in a great country.

    So burns1de, you buying when you get down here in light of the stronger dollar? :biggrin1:
     
  10. braumeister

    braumeister New Member

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    The only constant in life is change.

    I used to joke with my Canadian friends about the exchange rate between the Canadian dollar and the US dollar. I guess I'll have to come up with some new jokes now.
     
  11. Andro Man

    Andro Man New Member

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    Actually Frizzle is right. The US dollar is loosing against just about all currencies. The Euro's rise is also spectacular(and Euroland has hardly any natural resources).
    I suspect it would be even more dramatic if it they published M3 growth, which they have quite recently stopped doing
     
  12. SpeedoGuy

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    The US dollar now at an all time low against the Euro as well as the lowest against the Canadian dollar in 30 years.

    Sounds like a good reason for Bush to call for more tax cuts for the already wealthy.
     
  13. earllogjam

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    Yes, tax cuts for the wealthy and more military spending. Yes, that's the ticket. Did you see Dick Cheney rebutting Greenspan's assessment of the economy and arguing that the Bush administration's tax cuts and overspending were a good thing? Dick Cheney - the economic intellectual heavyweight from Wyoming going head to head against Greenspan. What a joke.

    Oh hell, why don't we just start another war someplace, North Korea? Iran? We got the guns, the dumb leader and Halliburton to supply everthing, so what's the hold up? We are already in Iraq for the long haul anyways. Oh what the hell why don't we just invade Canada itself?
     
  14. braumeister

    braumeister New Member

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    How about tax cuts for everyone (the wealthy, middle class, and poor)?
     
  15. NCbear

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    Corrected for my situation.

    NCbear (who's intrigued by the thought of living in a country where he can actually marry his male life partner and thereby accrue the last of the rights and privileges of a first-class citizen -- which of course I'm denied here :mad:)
     
  16. Andro Man

    Andro Man New Member

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    Ehm.....ok, sure you can use my words. But speaking from my situation using your situation, same sex marriages are allowed in Holland as well, it wouldn't be a reason to emigrate :)
     
  17. 9inchcanadian

    9inchcanadian Member

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    And also in the UK, But that didnt stop me and the boyf emmigrating to the cleaner,safer generaly better in every way. Canada.
    Now all they need to do is change the liquor laws and i`ll be in heaven
     
  18. Osiris

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    I used to be in wine and being this close to the border, we got lot's of Canadian clientele and from what I would hear, you get raked up in Canada. They were only allowed 2 bottles of wine per person back through. The taxation is what gets me though.

    Example:

    A bottle of Yellowtail Shiraz US Price - $5.99
    A bottle of Yellowtail Shiraz Canada Price - $15

    Customers have told me it is to fund the national health system. Is that the case?
     
  19. deepwader

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    When are you going to start exporting Candian penises? I for one would like a couple.
     
  20. 9inchcanadian

    9inchcanadian Member

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    I have no idea where the money goes. the government has been in total control of the liqour business since prohibition in the 20s. I guess it stops alot of alcohol related problems though, having come from the UK where you can get a 70cl bottle of vodka for about £6.50 in Tescos. And seen the problems that the rise in alcohol intake has had over the last 10 years since the intoduction of Alcopops(thats cololers for the north americans amongst us)
    Perhaps this is actually a good idea that Britain could take on board. Doesnt stop me getting kicked in the wallet everytime i wanna beer though.
    Also you dont see hoardes of teenage Canadians sitting in parks drinking cider or Tennants Super till they puke there little hearts out. Well not near me anyway!
    I CAN`T MAKE MY MIND UP
    Either way the money is going somewhere and if it is in the health service its better than funding a pointless war .
     
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