[Newsbot]

Title: Loonie slides to 18-month low
Category: Business
Posted By: Hyack
Date: 2008-10-06 10:00:18
Canadian

[BartSimpson]

Yay! I'll save money when I'm up to Lake Louise next year!

(Also, Canadian exports are cheaper which is good for Canadian businesses).

[Reverend Blair]

Yeah, it's like getting a raise for me too, Bart.

Not sure how much it'll help most exports though...our main customer is crashing like a 16 year old boy with a new pick-up truck.

[DrCaleb]

So, I gotta ask all the people who think Harper won the debate: He asked for an extra long period to discuss the economy, then turned around and said 'All is good, we don't need to do anything' . . . Does that sound like someone who won the debate? Does it sound like someone who has a plan, or is it him channelling his inner economist?

[Scape]

It's all good mon! *passes doobie*

[DrCaleb]

*cough* *cough* here

[Hyack]

[stokes]

Let me ask all of you economy experts on the left, how this can be overcome when the value of our dollar is based on GDP and unemployment etc etc. Our government should not be bailing out corporations that lived fast and loose with their finances, coincidentally the same way they wouldnt bail me out for being sloppy with my money. Their is not a thing our government could have done to stop our biggest trading partner from destroying themselves. But it sure is the government who we all cry about!!! Oh did I mention I hate the Left wing Commies!!!!

[Delwin]

This is definitely good news for the manufacturing sector and tourism industry(which is almost negligible). Our imports will cost more, but who is spending money now anyway ? I don't see this as entirely bad, especially for Ontario. Our manufacturing took a hit when the loonie climbed the way it did. Maybe we could bring more jobs back if it was a more affordable place to invest.

[mtbr]

Delwin Delwin:

This is definitely good news for the manufacturing sector and tourism industry(which is almost negligible). Our imports will cost more, but who is spending money now anyway ? I don't see this as entirely bad, especially for Ontario. Our manufacturing took a hit when the loonie climbed the way it did. Maybe we could bring more jobs back if it was a more affordable place to invest.

who is going to buy your goods?.
almost 85% of the autos made in Ontario go south...car sales plunged 30 % in Sept for the US.


yeah yeah we know it's Harpers fault

[Caelon]

Delwin Delwin:

This is definitely good news for the manufacturing sector and tourism industry(which is almost negligible). Our imports will cost more, but who is spending money now anyway ? I don't see this as entirely bad, especially for Ontario. Our manufacturing took a hit when the loonie climbed the way it did. Maybe we could bring more jobs back if it was a more affordable place to invest.

I agree with you that the lower dollar will benefit Ontario, but it might not be noticeable for awhile. A lot of the manufacturers needed to retool to be competitive with even an 80 cent dollar so a 90 cent dollar may not do the trick. Still it will be easier and if exports to the US do pick up then you will see the spin off effect in other areas like trucking. The more sectors that gain the more money that will be spent in Ontario.

[tritium]

Bank of Canada greases financial system with $12B in new cash.

http://www.cbc.ca/money/story/2008/10/0 ... anada.html

Just like the USA pumping 700 billion into the market.. they have to print it, which drives down the dollar and drives up inflation.

Thanks to Harper's trickle down economy.

[dog77_1999]

tritium tritium:

Bank of Canada greases financial system with $12B in new cash.

http://www.cbc.ca/money/story/2008/10/0 ... anada.html

Just like the USA pumping 700 billion into the market.. they have to print it, which drives down the dollar and drives up inflation.

Thanks to Harper's trickle down economy.

Well, that is relatively small, which is good. And to be honest, Canada could piggy back of what the Fed is doing and be in a much better financial position later on.

The irony is that this whole mess was propogated by the government(or lack thereof), and now the safest assets are US treasuries. The ultimate irony is that the further the dollar strengthens the worse the value will be in the next few years as all of this money comes back to haunt us.

[Scape]

Harper softens tone on deficits

$1:

Late today, after markets had closed, Harper was interviewed on the Business News Network, and admitted the government's fiscal margins have narrowed because of the tax cuts he's made.

This article is yet another hit piece by the Star but the fact is in less than 2 years we have now spent the money saved over the previous decade for a rainy day and now it's raining.