Canadian dollar drops to below 70 cents US
- Thread starter petros
- Start date
We've been doing that for decades, how do you think you have a semblance of an economy?
Well Iran released some more prisoners today..
Jason Rezaian and three other US prisoners freed in Iran
Soon their Oil will be hitting the Marketplace when sanctions are lifted.. and the price of oil will sink lower and so will the Canadian Petro Dollar.. below $0.59 some are predicting.
The Canadian Peso has no hope.
Jason Rezaian and three other US prisoners freed in Iran
Soon their Oil will be hitting the Marketplace when sanctions are lifted.. and the price of oil will sink lower and so will the Canadian Petro Dollar.. below $0.59 some are predicting.
The Canadian Peso has no hope.
The petrodollar effect: Just how much is the loonie tied to oil prices? | Financial Post
Oil prices high our dollar is high compared to the USD.
Oil prices bottom out, our loonie bottoms out at $0.60..
What do you call it.. not to mention it's made out of plastic.. derived from petroleum. :lol:
Do you know why the dollar went up? Not oil. Loss of confidence in the USD, now the confidence is back thanks to higher interest rates than us.
The energy sector makes up roughly 10 per cent of Canadian gross domestic product.
That’s more than retail, construction, agriculture and the public sector’s contribution to the economy. Energy accounts for roughly one-quarter of Canada’s exports.
America is a bigger oil producer than we are. Why didn't they plummet? Somebody has been lying to you.
I'd like to say that everyone is excited that they will be replacing the CEO of the USA very soon. Buy American. :lol:
Buh Bye Obama.
Hang on to your money for all the "bargain basement" prices we'll be seeing shortly!
That's nothin' boomski. Wait until interest rises half a point. We'll find out who in Canada is good with their money and who isn't.
It's a time bomb...tick tick tick tick tick
When that bomb goes off I'll kick the dead to the side and then buy.
It's a time bomb...tick tick tick tick tick
When that bomb goes off I'll kick the dead to the side and then buy.
I keep my debt low for a variety of reasons but that ticking time bomb is ticking like a big, bass drum, these days. It's amazing that the bubble didn't burst years ago. I know that it makes the central bankers cringe.
Sure because we really want to align ourselves more closely with those other hotbeds of economic activity and democracy North Korea and Cuba.
The public sector does not contribute to the economy. It siphons money out of the real economy and redirects it to places with the least cost benefit ratio.
We should align ourselves with the National Policies that built Canada from the time of Confederation when John A. MacDonald removed the country from the British Imperial Free Trade pact.. and later rejected 'Reciprocity' that Wilfrid Laurier would have imposed on us which would have fatally undermined our sovereignty and independence from the U.S.
Protectionism does not mean isolation, it means dirigiste economics that promote a national integrated industrial economy.. it means encouraging internal competition and research spending.. it means policies that are governed by goals of full, fairly payed employment.. it means a sovereign currency with agreed upon long term exchange rates that are dictated by the public interest... not Wall Street profits.
It is what we had prior to the onset of the Global Free Market hegemony that began with avengeance in the 1970s and has impoverished us.. opened us to the ravages of a riotous, unregulated world economic system... has polarized wealth and left millions of young Canadians with little prospects of employment that will allow them to comfortably and predictably pay for an education, start a family, buy a house, and plan for a secure retirement.
It's outrageous. NONE of the promises of Free Trade and Free Markets have been realized.. yet we tranquilly accept that the (nonexistent) Invisible Hand of the Free Market will ensure our future. Nothing of the sort is happening. We are being duped by a parasitic class of profiteers... and scumbag, incompetent politicians like Mulroney, Chretien, Harper and now, inevitably, Justin Trudeau.
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You either need to change the tint in your reading glasses or find some accurate reading material.