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What the plummeting loonie means for our econom

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What the plummeting loonie means for our economy


Business | 206714 hits | Jul 23 12:04 am | Posted by: N_Fiddledog
4 Comment

The Canadian dollar has plummeted to its lowest point in nearly 11 years thanks to slumping oil prices and a strengthening greenback.

Comments

  1. by avatar martin14
    Thu Jul 23, 2015 8:51 pm
    To whoever reads the article, manufacturing in Ontario isn't coming back, Wynne will see to it personally.

    The dollar slide will get even worse when the US Fed starts raising rates in the fall, and we can't.

    Prepare yourselves...

  2. by avatar BartSimpson  Gold Member
    Thu Jul 23, 2015 8:58 pm
    Damn. Looks like we sold off the condos in the nick of time!

  3. by avatar martin14
    Thu Jul 23, 2015 9:02 pm
    "Regina" said
    Means I'm going to hold off buying this. :(

    http://www.cookshack.com/store/Smokers_ ... odel-SM025



    On the contrary, you should buy it now or it will get even more expensive !

    At least, you can tell the wife that. :lol:


    "BartSimpson" said
    Damn. Looks like we sold off the condos in the nick of time!


    If you took your CDN profit, and moved it now into a USD account in Canada,
    easy extra profit when the dollar slides under 70cents.
    I don't see anything stopping it for now.

  4. by avatar BartSimpson  Gold Member
    Thu Jul 23, 2015 9:08 pm
    "martin14" said

    If you took your CDN profit, and moved it now into a USD account in Canada,
    easy extra profit when the dollar slides under 70cents.
    I don't see anything stopping it for now.


    We had to put it into a USD account because the bank won't let us do a CDN$ account anymore due to the IRS' new rules.

    We inadvertently benefited from this.

    Mrs. Bart and I are planning a week in Vic in October and at least we'll save a little money on the trip if things don't pick up.



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