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Originally Posted by Venamm
Wayne, don't you love how our Looney is shinny and valuable over the Benjamins?
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Well like most things, there are at least two sides to every coin.
As a Canadian spending in the US (I have a boat on Lake Champlain), I love it. Five years ago, it cost me about $1.60 Canadian to buy each US dollar. Today, it will only cost about 90 cents to get a greenback.
However, as an employee of a Canadian manufacturing company, I am very worried about our future. It is estimated that more than 200,000 manufacturing jobs have already been lost in Quebec and Ontario due to the exchange rate and that doesn't take into consideration the significant change over the past week or two. Our dollar is strong because of
oil. Canada is the biggest supplier of
oil to the US and
oil is now close to $100 per barrel. However, the strong dollar is going to kill our manufacturing sector. I have no idea where this will end.
Wayne