The Canadian dollar has reached a modern day high in terms of its value against the U.S. Greenback (http://www.cbc.ca/money/story/2007/10/31/dollarjump.html), which itself appears to be heading for parity............with the Mexican Peso. I know that I am screaming to no one in particular, but I'm going to keep doing it. THIS IS A BAD THING FOR THE UNITED STATES. It is a reflection of the confidence the "rest of the world" has in our economy (which is to say, not much at all).
When you combine this complete collapse on the part of the American Dollar with the fact that oil prices are rapidly closing in on $100 a barrel, I don't think that you have to be a Nobel Prize-winning economist to figure out that it bodes very, very badly for our economic future.
1 comment:
$1 equals about 10.5 pesos. American goods will now be cheaper for foreigners. The last the Canadian dollar was this good was 1974 and our economy was terrible then.
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