Member of the Month

PartyBullshiit
March, 2024

Online

Welcome to the Newschoolers forums! You may read the forums as a guest, however you must be a registered member to post. Register to become a member today!

$0.9950 Countdown till Parity

profile picture
Maximumsushi
Posts: 7837 - Karma: 3,347
As I posted in a thread a few days ago, the fed cut interest by half and half a percent and the Canadian dollar has been edging closer to breaking past the USD in value since. We're trading at $.9950 right now.

WHAT DO YOU THINK AMERIKAN TEENS?
Sep 20 2007 7:51AM
0 0
profile picture
Nicholas.
Posts: 10905 - Karma: 60
no i mean that america has more money straight up, regardless of the value of a dollar.
Sep 20 2007 5:24PM
0 0
profile picture
Lord_Piot
Posts: 3727 - Karma: 13
That doesnt matter anymore
Sep 20 2007 5:25PM
0 0
profile picture
Maximumsushi
Posts: 7837 - Karma: 3,347
Well, no. Sectors like tourism will do better obviously but imports will be more expensive. Because your dollar is cheaper, we are going to want more of them for things that we sell you, like natural gas and trees. So, it hurts our exporting industries, and is good for your ability to import.
Sep 20 2007 5:57PM
0 0
profile picture
Maximumsushi
Posts: 7837 - Karma: 3,347
Actually, China is the largest holder of US dollar reserves, not the US. This is because they've been propping up the US dollar for years to encourage the cheaper purchase of chinese manufactured goods to stimulate their economy. If they start selling off the dollar because they lose faith in the long term, the money markets will flood and America will drop into a deep recession. However, this would be a poor decision for China and the world economy.
Sep 20 2007 6:00PM
0 0
profile picture
Benson23
Posts: 1713 - Karma: 15
fuck yeah go candada hahah at least we beat the us at something
Sep 20 2007 6:16PM
0 0
profile picture
cobra_commander
Posts: 16909 - Karma: 4,682
You know there are good things about having a lower value for your currency, for instance now, if a n international company with offices/bussiness/whatever in both the US and Canada wants to hire 1000 new employees they will hire them inside the US, as apposed to Canada.

Also have you considered one of the things that changes the value of currency, unemployment. The two have a direct relationship, so the lower the unemployment rate the lower the currency value,  the higher the unemployment rate the higher the currency value.

However I do not think that is the case right now. I am just pointing out that the value of a countries currency is not the only indicator of it's economy. Really a higher dollar is better for the working American while a lower dollar is better for the business overall.
Sep 20 2007 6:57PM
0 0
profile picture
shibby
Posts: 7088 - Karma: -19
Deeeem I think I'm gonna go buy something online.
Sep 20 2007 7:41PM
0 0
profile picture
Jake...
Posts: 11976 - Karma: 296
should i buy like $500 USD, wait for it to go back down, and sell? seems flawless.. unless the transaction rates are high at the bank i dont know what they are for international money exchanges, and there is always the thought of it going up up up and never dropping ...
Sep 20 2007 8:01PM
0 0
profile picture
Maximumsushi
Posts: 7837 - Karma: 3,347
INVESTING.
You don't buy forex like that, you buy forex by calling your brokerage and telling them you want to trade forex. Banks take huge fees.
Sep 20 2007 8:03PM
0 0
profile picture
Jake...
Posts: 11976 - Karma: 296
im just a kid i only picked up on about 4 of those words. haha

but i dont understand the term forex.

and i wouldnt go to the bank to do it because i have herd people say the bank takes a big cut.
Sep 20 2007 8:16PM
0 0
profile picture
ski_powpow
Posts: 1247 - Karma: 1,200
^ya this it true less people can come down from the states and a majority of Canadian resorts thrive on US tourism
Sep 20 2007 8:20PM
0 0
profile picture
GotamaBCshredder
Posts: 5062 - Karma: 424
It will be when our worth goes up. The economy fluxuates. You all just bitched about other problems with america when it was 0.67 USD-1.0 CAN you just keep ooking at the negatives. Then you say we are a money grubbing greedy society yet you want to move to canada for...........1/20th of a cent on the dollar. so at the end of the year you have made your incredible salary of probably 60 grand in canada and how much is your reward for not having to care about anything but yourself? like a whopping 30 bucks. woohoo. congratulations. Move away.
Sep 20 2007 8:33PM
0 0
profile picture
Mod
Posts: 3179 - Karma: 11
Woo money party! I'll bring the washingtons!
Sep 20 2007 8:37PM
0 0
profile picture
GotamaBCshredder
Posts: 5062 - Karma: 424
^^ im in a fine mood. All this complaining just gets old after a bit you know? Why does it even matter that much? I make plenty. Have multiple loans out, run my own business and have lots of investments and these things don't make me want to move away. I wake up and live my life. I hate taxes and thats about it.
Sep 20 2007 8:39PM
0 0
profile picture
GotamaBCshredder
Posts: 5062 - Karma: 424
claimed what?
Sep 20 2007 8:46PM
0 0
profile picture
Lord_Piot
Posts: 3727 - Karma: 13
it just means american sluts are cheaper then canadian sluts


not as good tho :(
Sep 20 2007 9:15PM
0 0
profile picture
Alex_G
Posts: 11902 - Karma: 1,018
fuck my life.
Sep 20 2007 9:16PM
0 0
profile picture
cobra_commander
Posts: 16909 - Karma: 4,682
so should I start converting my paypal account to Canadian...
Sep 20 2007 9:25PM
0 0
profile picture
lushlaxstr
Posts: 3063 - Karma: 41
your dumb
Sep 20 2007 10:52PM
0 0
profile picture
Crackaghan
Posts: 583 - Karma: 11
haha watch america get poorer and fuck people like me over who are only in high school and still have college after that haha
Sep 21 2007 12:20AM
0 0
profile picture
Steezysmurf
Posts: 1663 - Karma: 3
SICK NEWS but still!!

I dont think Canadian goods will get cheaper.. as long as we're buying things the companies have no incentive to lower their prices.

New Jordans coming out tomorrow cost $220 in Canada and $140 in US!!! FUCK THAT SHIT
Sep 21 2007 12:27AM
0 0
profile picture
KLovelace
Posts: 2118 - Karma: 289
thats just fucking insane. this country is way too far down the drain.
Sep 21 2007 2:05AM
0 0
profile picture
Maximumsushi
Posts: 7837 - Karma: 3,347
Supply Demand curve
If people in Canada begin purchasing the same goods in the US for cheaper, less will be sold in Canada. Prices will drop in Canada accordingly to encourage local sales.
Sep 21 2007 7:41AM
0 0
profile picture
papasteeze
Posts: 12055 - Karma: 911

Exactly! This is a good thing.

Sep 21 2007 8:09AM
0 0
profile picture
lorida
Posts: 2833 - Karma: 46
China will take over. soonish.
Sep 21 2007 11:16AM
0 0
All times are Eastern (-4)