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Canadian dollar will drop to 59 cents US in 2016, Macquarie forecasts

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johnny956

Member
If you're close to the border you'll probably get american change. In a real Canadian city: no, you would get Canadian money back. And coins are traded at par no matter the exchange rate.

It's actually pretty comical the amount of Americans that come to Canada and expect to only deal in American currency. Like there are people that genuinely believe we use American money up here.

Do people seriously believe that? That's crazy. I generally pay with my credit card that has no foreign transaction fees so I don't have to deal with stores trying to rip me off on the exchange rate
 
The natural endpoint of the current course is a North American Union or Canada finally integrating into the United States. As scary as that may sound to Canadians. The military is already there, the difference between Canadian and American culture is about as different as New York and Louisiana culture, NAFTA exists.

Ask anyone in Europe what the result of integrating currencies and not financial institutions is. It would be crazy for Canada to sign up for a complete union since they wouldn't have any more influence than California if they joined the US. Unless each province was a separate state, which as a Democrat I'd love.
 

Clov

Member
Ugh. I really hope we don't drop to this level, it's bad enough already. Any way of my country avoiding this?
 
Ask anyone in Europe what the result of integrating currencies and not financial institutions is. It would be crazy for Canada to sign up for a complete union since they wouldn't have any more influence than California if they joined the US. Unless each province was a separate state, which as a Democrat I'd love.
That's what I am hoping for in the long run.


They could even keep the parliamentary system. Just need to ditch the monarchy.
 

Markster

Member
I'm not a big cash user, in general, and in the States, loose change is usually worth very little, so the concept of using coins to pay for things isn't really ingrained.

Welcome to the cultural experience of Canada, where change is actually valuable enough to spend!
And welcome to the US's inevitable future of dollar coins.
 
That's what I am hoping for in the long run.


They could even keep the parliamentary system. Just need to ditch the monarchy.

No fucking thank you. US businesses bribe politicians left and right, and they don't even have free healthcare yet.

Plus the monarchy doesn't even have any power in England. Let alone here.
 

Pancake Mix

Copied someone else's pancake recipe
This part is debatable since we're living in a beggar thy neighbor world where a lot of countries are devaluing their currencies in order to increase exports / attract investment and manufacturing. There's a lot more competition in this regard today, which leads to more concessions and lackluster deals in order to get this stuff off the ground. Having a weak currency isn't necessarily the slam dunk for investment that some folks seem to think it is.

Not to mention that that is dependent on the fact that those manufacturing jobs pay less in US (read, real, more stable) dollars than if the Canadian dollar were higher. That's bad for workers because the price of everything goes up as the Canadian dollar takes a slide. 59 cents is brutal for a developed country whose currency had an intra-day high over 51 cents US higher back in November 2007.
 

jstripes

Banned
I'm not a big cash user, in general, and in the States, loose change is usually worth very little, so the concept of using coins to pay for things isn't really ingrained.

So if you've got a bunch of change in your pocket, and a $20 bill, for a purchase of $3.78 you'd rather hand over a $20 than two $2 coins?
 
Could Canada adopt the US Dollar as it's currency and more tightly intertwine the two economies short of becoming States?
And turn into a literal Greece, no thank you. If we adopt the US Dollar, we loose the ability to effectively save ourselves in times of economic hardship like this. Trudeau is going to have to make the Bank of Canada print money to get us out of this... imagine him needing to beg the United States Treasury to do the same at the amounts we need.

That said, a lower Canadian, while bad from a consumer perspective, isn't necessarily an indicator of a bad economy. This may in fact open doors for manufacturing jobs which certain provinces like Ontario may reap the benefits.
Here is the thing though. Our Manufacturing Sector is never going to come back, at least at the frequency it once was. Because no matter how bad our dollar gets, it will always be cheaper overseas, and by the time it isn't; we'll we will have moved on to it being almost completely automated

The invitation to become a US state is always open!
No thanks, we don't want to have to deal with Raging Gun-a-holics, Republicans and politicians being bought by money at insane rates. Not to mention the no Public Healthcare or their being a complete lack of the enhanced social systems we use daily. Don't worry though, we will bounce back.
 

Leeness

Member
...so I'm thinking of trying to plan a two week vacation to Europe in October for 3K or less.

Guess I should probably let go of any hope of that happening now. :/
 
We have some pretty significant cultural/legal differences. A unified currency makes sense, but fully integrating into the US would be Cray

I have only heard this from Canadians. Truth of the matter is Toronto is a lot closer to New York in terms of culture and diversity than it is with Alberta. Or New York is closer to Toronto than it is to Montgomery, AL. Same with Vancouver and Seattle. I don't know why it's so hard for Canadians to accept this.
 

Makai

Member
No thanks, we don't want to have to deal with Raging Gun-a-holics, Republicans and politicians being bought by money at insane rates. Not to mention the no Public Healthcare or their being a complete lack of the enhanced social systems we use daily. Don't worry though, we will bounce back.
You get to keep most of your laws ;)
 

Azih

Member
I have only heard this from Canadians. Truth of the matter is Toronto is a lot closer to New York in terms of culture and diversity than it is with Alberta. Or New York is closer to Toronto than it is to Montgomery, AL. Same with Vancouver and Seattle. I don't know why it's so hard for Canadians to accept this.
By Alberta do you mean Calgary or something?

In any case the politics of Canada is completely different from the politics of the States. It makes a significant difference to the culture.
 

leroidys

Member
If you're close to the border you'll probably get american change. In a real Canadian city: no, you would get Canadian money back. And coins are traded at par no matter the exchange rate.

It's actually pretty comical the amount of Americans that come to Canada and expect to only deal in American currency. Like there are people that genuinely believe we use American money up here.

Having worked retail in Washington State, it goes both ways. There were always TONS of Canadians pissed that we didn't take Canadian dollars. "But they take Canadian money at cahsco!"
 
In my experience US people don't even use 1$ coins...

we call dem fools gold round these parts(nyc)
because only fools get them.

sacagawea-dollar.jpg
 
By Alberta do you mean Calgary or something?

In any case the politics of Canada is completely different from the politics of the States. It makes a significant difference to the culture.

I meant the province of Alberta, but sure Calgary or Edmonton, whatever floats your boat. I am sure you understood the point I was making.

Are you trying to suggest that the culture in Vancouver is closer to Charlottetown than it is to Seattle due to the politics in the country being the same? Or New York is closer to Jackson than it is to Toronto because of the same reason?
 

Syriel

Member
No thanks, we don't want to have to deal with Raging Gun-a-holics, Republicans and politicians being bought by money at insane rates. Not to mention the no Public Healthcare or their being a complete lack of the enhanced social systems we use daily. Don't worry though, we will bounce back.

You'll always have Chilliwack! ;)

Are you trying to suggest that the culture in Vancouver is closer to Charlottetown than it is to Seattle due to the politics in the country being the same?

Vancouver is basically a cleaner version of Seattle.
 

jstripes

Banned
we call dem fools gold round these parts(nyc)
because only fools get them.
I've got a couple of those. I've also got a Susan B. Anthony dollar, and one of those newer ones with the Statue of Liberty.

The only way Americans are ever going to start using dollar coins is if the government phases out the dollar bill. But we know if you guys do that there will be armed protests on Capitol Hill.

Are you trying to suggest that the culture in Vancouver is closer to Charlottetown than it is to Seattle due to the politics in the country being the same? Or New York is closer to Jackson than it is to Toronto because of the same reason?

Canadians are different from each other culturally on a regional level. But, on a political and ideological level, we're fairly distinct from the US.
 
Curious, not to familiar with Canadian politics, but was Harper bullish on oil?

Did he ignore helping in creating incentives to diversity the Canadian economy?
It's the "all in" plus putting my mortgage and my watch on the table when you had a pair of 8s, and the other guy ended up with a full house.

Keystone XL gutted quite a bit.
 

Daft_Cat

Member
It's funny the difference a couple of years can make. I went to grad school in the states just as the dollar was at its peak. Actually managed to save some money in the currency exchange. I wouldn't have been able to handle the tuition at 59 cents. Would've nearly doubled the cost of the degree.
 

Ledhead

Member
Gonna be in Canada for my little sister wedding in Ottawa around the end of March. Hopefully the Canadian dollar is super cheap so that I can pay for stuff with little pain to my wallet. Of course once I leave, I hope the currency goes back up. Canadians are nice people, so they deserve better (and I really want to check out Montreal, heard nothing but good things about that city).

Well, at least you care enough to wish us well hahaha

also, we are witnessing the glorious return of the Northern Peso
 

Kinitari

Black Canada Mafia
I have only heard this from Canadians. Truth of the matter is Toronto is a lot closer to New York in terms of culture and diversity than it is with Alberta. Or New York is closer to Toronto than it is to Montgomery, AL. Same with Vancouver and Seattle. I don't know why it's so hard for Canadians to accept this.

Guns and the laws around guns. Healthcare and the laws around healthcare. Drugs and the laws around drugs. Heck, even our free speech laws are different.

The laws and the culture of the land are pretty intertwined in a lot of respects, and on these and many other points, Canada is different than the US.
 
I've got a couple of those. I've also got a Susan B. Anthony dollar, and one of those newer ones with the Statue of Liberty.

The only way Americans are ever going to start using dollar coins is if the government phases out the dollar bill. But we know if you guys do that there will be armed protests on Capitol Hill.



Canadians are different from each other culturally on a regional level. But, on a political and ideological level, we're fairly distinct from the US.

Guns and the laws around guns. Healthcare and the laws around healthcare. Drugs and the laws around drugs. Heck, even our free speech laws are different.

The laws and the culture of the land are pretty intertwined in a lot of respects, and on these and many other points, Canada is different than the US.

Like I said, I only hear that from Canadians. I'm sure there will be non-Canadians who share your opinions, but IRL, I only get that response from canadians.
 

Daft_Cat

Member
Like I said, I only hear that from Canadians.

The truth is that for the average middle class individual, there's not a whole hell of a lot of qualitative differences. They're similar feeling countries in many respects. For the less privileged folk, it's night and day.

... and really? I live in California, and if anything, many of the Americans I talk to actually idealize Canada in a way that's approaching unrealistic (admittedly the only reason it comes up at all is because they know I'm Canadian and small-talk is a thing). As for the more conservative parts of America, Canada's healthcare, comparatively wide social safety net, and strict gun control policies are unlikely to be brought up as positives.
 

jstripes

Banned
Like I said, I only hear that from Canadians. I'm sure there will be non-Canadians who share your opinions, but IRL, I only get that response from canadians.

Maybe because Americans, by and large, tend to ignore Canada? Canadians, on the other hand, are probably better informed about the US than we are about our own country.
 

Sapiens

Member
Jack Layton?

Also the state of our dollar depresses me. I better get used to any possible vacations being within Canada for the rest of the decade.

Most people I know blame Layton for the 2006 election that brought in Harper for almost ten years. Man, fuck Jack Layton. The NDP are useless no matter how charismatic a leader they have - but the reason why the Orange Wave was never real was because most centre Canadians saw Layton as untrustworthy.
 

shira

Member
Can't wait till all the fastfood restaurants catch up in pricing

We are either going to get a $10+ Big Mac Combo or everything shrunk down to compensate.
 
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