First time Canadian dollar is equal to US Dollar since 1976

[JT_55]

http://seattlepi.nwsource.com/local/6420AP_WA_Canada_Dollar_Parity.html

TORONTO -- The Canadian dollar has reached parity with the U.S. dollar for the first time since 1976. They are equal in value.

The loonie has been gaining for five years while the U.S. dollar has been falling in value lately.

That makes Canada a more attractive place for foreign investors to put their money, but it makes Canadian goods more expensive on the world market.

The strong Canadian dollar also encourages some Canadians to go shopping in the United States.

Woot! Going on a trip to US and shopping my ass off never felt so good before! Of course, the United State's enconony wasn't excatly great before this happened. But this brings bad news too. Oil prices will keep going up, and up, and up....

[Its_asdf]

but it makes Canadian goods more expensive on the world market

Hurray for maple syrup.

[benji]

Of course, the United State's enconony wasn't excatly great before this happened.

Um, you're confusing the state of Michigan with the rest of the United States.

[Oznogrd]

Of course, the United State's enconony wasn't excatly great before this happened.

Um, you're confusing the state of Michigan with the rest of the United States.

Umm im sort of confused cuz as far as i know our economy has been in the crapper for quite a few years now...

[benji]

Well, then you are mistaken. The economy has been pretty gangbusters for, what, about four years now? And no country is even close to us.

[BigKaboom2]

Depends on how you judge it; GDP is certainly not declining, nor are we on track for a recession.

[Riot]

Stock market has been hitting highs lately. Unemployment rate is very low. The economy is doing very well in America.

[cyanide]

It's pretty neat how I can actually order books on Amazon.com and say, hey, because of the conversion rate, it's actually cheaper than Amazon.ca!

[Abctest123]

Sigh...I wanna finally get a chance and go on a shopping trip in the US some time soon, but I have pretty much no time, neither do my parents have the time or are willing. Just wondering...does anything it the Canadian dollar will stay this high by the time April 2008 comes along ? That's when theres a school trip to New York. If it holds to that long, I'm gonna be doing some shopping in NYC

[JT_55]

Um, you're confusing the state of Michigan with the rest of the United States.

I meant more on the fact that the US dollar was dropping even before this happened. The word economy is a general word, should've used the example instead.

It's pretty neat how I can actually order books on Amazon.com and say, hey, because of the conversion rate, it's actually cheaper than Amazon.ca!

lol, it's even better if you buy a PS3 on .com it's $499.99 and on .ca it's $549.99.

[Joe']

This couldn't be better news for the US.

With the Euro at $1.40, the British Pound at $2.00 and now the Canadian Dollar at $1.00, everyone's practically forced to buy goods from the US.

As Riot said, the economy is doing REALLY well in America.

[puttincomputers]

this is not good in the long run. the only thing holding this country from the brink of disaster is that china sells so much over here and that they have a lot of us treasury notes. if either of those things starts goin away we will see arecession! and may i say it? it could be worse than the crash of 29!

also the reason this happened was that last week the fed pumped a whole lot of money into the market. that in turn, if no new gold was added, this makes each individual dollar worth less! no i did not say "worthless" but "worth less". give you an example. if one a dollar would buy .5 ounces of gold and the fed issued more money into the market that made the amount of individual bills double in quantity then 1 dollar would equal .25 ounces of gold. its not that gold is worth more but that the dollar is worth less.

just watch the mexican dollar could start to climb to a dollar and where will we be? maybe a north american union dollar? NAURO anyone?

[J@3]

puttincomputers, in future if you want to add something to your post please just edit it instead of triple posting.

[bigh0rt]

Eh?

[cyanide]

^ I think Jae cleaned up his triple posts.

[puttincomputers]

sorry guys i wasnt thinkin about that.

[shadowgrin]

Eh?

I think Jae cleaned up his triple posts.

bigh0rt, did you skip one of your classes in mod school? For shame.

[maceo24]

Stock market has been hitting highs lately. Unemployment rate is very low. The economy is doing very well in America.

Seconded by an RR at the NYSE.

However, the current real estate disaster rivals the stock market crash of 29, in the number of people it has/will affect. So many people are defaulting on home loans its going to be damn bear impossible to find a place to live without putting damn near you life savings as collateral. This doesnt affect the higher socio-economic class as much, as they have enough collateral (property, stocks, bonds, etc.) to not pay too much out of pocket, but to the regular person - I.E. 35-50 grand a year, you arent getting a house without a credit score of 560 or better, and even in that case, look for interest rates in the low-high teens, as opposed to the 6-10 percent you were finding earlier in the decade.

[dan_suth]

IMO, you're an idiot if you can't keep a credit score of 560 or better. I've had perfect credit ever since I got my first credit card (my score is like 780 now) and it's really not that hard. Too many people just don't understand the concept.

It kinda blows for us Michiganders that the Canadian dollar is now equal to the USD. I remember the first couple times I went over to Windsor (which is only a 25 min drive from here) I could take $100 and convert it into $140 to gamble with at the casino. Now it's almost not even worth it!

[maceo24]

Whoops that's supposed to be a 650, my fault. I have a 720, and thats still owing my college money. I have one credit card, it has a sliding limit thats based on 9.5 percent of the value of my investment portfolio (liquid assets only). But alot of kids in school get in debt spending money through loans and credit cards and really screw themselves up. Then they get another credit card to pay off the first, and the snowball gets bigger and bigger from thereThere are more people with truly bad credit running around here than you think.

And during the height of the home loan boom, people with 450 credit scores were getting 150 thousand dollar loans. So for those people, its really going to be a stretch to buy anything. look for a lot of 3 - 5 bedroom homes be rented out instead of sold. People just can't afford to buy them anymore.

[puttincomputers]

gag! credit cards! ACH! hmmm. lets see i have no credit score! yet i am not in debt! I could buy a car right now without taking a loan out! HELLO! look up dave ramsey!

[maceo24]

Lol, tru, but try buying a house... Unless you're sitting on a cool 250 grand, in cash, you'll be needing that credit line just like everyone else.

[Cazm]

ok this is not on what you guys are talking about but, CANADIANS GO CRAZY IN THE U.S.A BUY A PS3/XBOX360 ITS A BETTER DEAL THEIR!!!!!!!!!!!!!!!!!!!!!!!!11

[JT_55]

ok this is not on what you guys are talking about but, CANADIANS GO CRAZY IN THE U.S.A BUY A PS3/XBOX360 ITS A BETTER DEAL THEIR!!!!!!!!!!!!!!!!!!!!!!!!11

*sigh* See below (I'm not going to bother quoting myself since I don't think I'm that stupid to sue myself for plagarizing myself):

lol, it's even better if you buy a PS3 on .com it's $499.99 and on .ca it's $549.99.

(t's the tenth post in this topic if you can't find it.)

[Cazm]

if you buy it yourself you have way less of a chance it will come broken but .com's might scam