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Wednesday, November 07, 2007

Oh Canada

All my life I remember thinking that Canadian money was funny money. Part of it was because of the crazy colors the currency used. But it was also due to the juvenile thought that if one American dollar was worth more than one Canadian dollar, then the Canadian dollar was rather worthless.

Well well well, how things have changed:



I ALWAYS got pissed when I got a Canadian dollar. Who knew I should have collected them. I used to get pissed when I went to Windsor to drink when I was 19 or 20 and had to pay with my remaining American money, as they treated it like Canadian money when deciding change. Now they probably wouldn't even accept my American money.

Not really sure in general how much this matters. There's no rational reason why our money needs to be exchanged at a higher rate. After all, it's all these free markets I've been hearing such good things about. Still, a weak dollar is not something to get excited about. Especially when the drop has been so sudden. Add this to the housing market/financial industry and the unease by consumers and I'm very fearful of what's instore for our economy. A country that produces very little can not sustain itself when times get tough. And considering how little we've helped others, I'm not counting on our creditors to cut us any slack. I hope I'm wrong about this one though.

Tags:

*Canada*US*dollar*exchange rates *economy*markets *recession

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