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Loonie Americans

May 23, 2007 @ 09:15

I'm filled with mixed emotions as the Canadian dollar continues to soar against the American greenback. It closed at 92.08 yesterday.

I feel bad for those whose business involve exporting to the United States while it's a bonus for those who import.

It's great for people like me who like to golf in Florida during the winter, but it's going to be absolutely miserable for Canadian tourism.

Most Americans have tunnel vision when it comes to the rest of the world so a weak Canadian dollar was one thing we could point to in order to get them to come north.

The over-reaction to Sars, the misinformation regarding passports and other documents, and a dollar that's virtually "par" will make Americans lose all desire for visiting their Northern neighbours. It was bad last year with an 87 dollar, so it's only going to get worse.

On the flip side, if you visit the States this summer make sure you exchange your money at a recognized institution. Americans have become accustomed to a weak Canadian dollar, and you'll find that most stores will simply refuse to give you reasonable value, or they'll refuse to take our money at all.

I remember one trip to Florida back in the 70's when our dollar was actually worth more than the American dollar. Americans looked at you like you were nuts if you expected them to consider the exchange.

One thing I definitely won't miss is Americans insulting the Canadian dollar. Over the past 20 years it's been lots of fun for Americans to take shots at our dollar like it was worthless crap.

Now it's not so funny. The Yanks are swimming in a sea of debt, they're involved in a war that costs billions every month and their economy is sinking like a leaky old punt.

We won't hear Canadian dollar jokes any more; they'll have enough material dealing with their no mind President.

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73 Responses to "Loonie Americans"


JIM
May 23, 2007 / 10:05

This is scary this could put us into a recession or at least putt us heading that way
Canada is a lot like Costco to the USA
But easier to become a member
You get a good quality product at a discount price
By our dollar increasing that takes away the money saved.
IF you are not going to save anything then why deal with us when they can deal with companies in there own country and save on transportation duty brokerage and even more important to the USA this will help there economy


Wright
May 23, 2007 / 10:14

Being an American I have no problem spending my money in Canada (at par or otherwise), I love the country. But the wait on the bridges...that's what will keep me away.


Anonymous
May 23, 2007 / 11:00

Well I am glad to hear that and we welcome you all here.
Unfortunately you do not represent the 100s of millions of dollars from the packaging and manufacturing world
I work in this industry and 2 thirds of all packaging that is produced in this country is shipped south of the boarder and since our dollar hit the $ 0.85 mark three months ago that has caused a sever slowdown across the industry and that is only one part of the economy This will also cause U.S based companies to downsize or close there Canadian oprations here because the wages just increased by 10-15% over the last 6 months and almost 20% in the last year
I don't know many companies that like to give 20% raises


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