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I can't be the only one that hates the dollar being so high... (pg. 2)
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| starsearcher |
| quote: | Originally posted by malek
no, i am not agreeing. :whip: :whip: :whip:
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Geez Malek...no need to get all violent :nervous: |
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| Jayx1 |
| quote: | Originally posted by malek
no, i am not agreeing. :whip: :whip: :whip:
one example is the fuel price at the pump. It should be much higher now (thru the 1$ mark) if it wasn't for the weak USD/high CD. |
Actually id argue the opposite. With the weak US dollar the gas prices should be in the 60s at this point. Not only is it cheaper to buy oil (oil is priced in US dollars) but it's also cheaper to import it since the Canadian dollar is also so high. Where are the savings mang? |
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| malek |
| quote: | Originally posted by Jayx1
Actually id argue the opposite. With the weak US dollar the gas prices should be in the 60s at this point. Not only is it cheaper to buy oil (oil is priced in US dollars) but it's also cheaper to import it since the Canadian dollar is also so high. Where are the savings mang? |
mang, at 50$ a barrel, we should be past the 1$/L mark with a lower canadian dollar, because it would cost us more...
but we're more at the 80 cents mark.
earlier this year, the dollar was weaker and the barrel was at 50$, fuel at the pump was 99.9c/L. |
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| DigiNut |
| quote: | Originally posted by Jayx1
Actually id argue the opposite. With the weak US dollar the gas prices should be in the 60s at this point. Not only is it cheaper to buy oil (oil is priced in US dollars) but it's also cheaper to import it since the Canadian dollar is also so high. Where are the savings mang? |
I think you and Malek are arguing the same thing. US dollar is weak, therefore gas is cheaper.
Only difference is that (I think) Malek reasons that the weak US dollar is a good thing because our gas is cheap right now. Which is pretty short-sighted if you ask me (the real reason gas prices are as high as they are is because of Canadian taxes, not the price per barrel). |
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| malek |
| quote: | Originally posted by DigiNut
I think you and Malek are arguing the same thing. US dollar is weak, therefore gas is cheaper.
Only difference is that (I think) Malek reasons that the weak US dollar is a good thing because our gas is cheap right now. Which is pretty short-sighted if you ask me (the real reason gas prices are as high as they are is because of Canadian taxes, not the price per barrel). |
yes i posted that on purpose, gaz price is something we can all benefit right away.
Most important benefits are long term and hard to grasp for the average canadian.
high taxes are a completely other subject that I am not touching it with a 10 foot pole :) |
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| DigiNut |
| quote: | Originally posted by malek
Most important benefits are long term and hard to grasp for the average canadian. |
The benefits of this are few and far between. Seems like a lot of people misinterpret the "high" Canadian dollar as an actual increase in the value of the Canadian dollar - but relative to currencies other than the USD, it hasn't changed at all. It's just the US dollar that's hurting, and a weak US dollar is bad for everyone.
If it were the other way around, and the US dollar had stayed the same and the Canadian dollar and PPP had gone up, I'd be cheering too. Sadly, that's not what's happened. |
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| malek |
| quote: | Originally posted by DigiNut
The benefits of this are few and far between. Seems like a lot of people misinterpret the "high" Canadian dollar as an actual increase in the value of the Canadian dollar - but relative to currencies other than the USD, it hasn't changed at all. It's just the US dollar that's hurting, and a weak US dollar is bad for everyone.
If it were the other way around, and the US dollar had stayed the same and the Canadian dollar and PPP had gone up, I'd be cheering too. Sadly, that's not what's happened. |
yeah but most of our imports are from the USA.
The dollar picked up a 5% against other currencies since the beginning of the year, like the euro, which isn't bad afterall. |
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| rabbitjoker |
| quote: | Originally posted by DigiNut
a lot of people misinterpret the "high" Canadian dollar as an actual increase in the value of the Canadian dollar |
Thank you for pointing this out.
VALUE = purchase power.
CAD$ purchase power remains unchanged. |
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| MarkT |
back to interest rates.
the Governor of the Bank of Canada, David Dodge, said yesterday that due to concerns over the weak USD, and the downturn of the global economy, that they may have to rethink their current rate policy of slow, steady increases in interest rates, but that so far, they intend to stay the course of slow, steady increase in the lending rate to maintain our economy operating at capacity.
One issue is that that whatever changes to their lending rate the Bank of Canada makes, it takes many months for the effects to be realized...ie. it's all about forcasting. Next rate announcement is early Dec. if I remember right.
http://www.cbc.ca/story/business/na...rise041125.html
"But on Wednesday Dodge told a senate committee developments over the last month suggested to the Bank that the steep rise of the loonie could "have a dampening effect" on demand for Canadian goods and services abroad, curbing overall economic growth.
Dodge said the bank would take this factor into account when making its next decision about interest rates.
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Analysts largely interpreted his remarks as Dodge leaving the door open to not, after all, raising interest rates again in the near term.
for some more info (if you're *that* interested, lol):
http://www.bankofcanada.ca/en/index.html |
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| retortion |
| get a friend that works at a bank. Thats what i did. They put that sales bull down your throat, and they give the best possible rate anyone can give you. |
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| AwakenedAddict |
| The value of the US dollar doesn't really have that much of an effect on the price of gas in Canada because Canada produces its gas domestically. |
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