How bad is the economy going to hit the fan

Who would you like to hear the story from ?

Does CTV work ?

http://www.ctvnews.ca/mobile/busine...won-t-probe-oilsands-tailings-ponds-1.2210034

 

Global ?

http://globalnews.ca/news/1769988/canada-trying-to-prevent-nafta-oilsands-investigation/

 

International Business Times ?

http://au.ibtimes.com/canada-trying...ling-ponds-produced-oil-sands-alberta-1410659

 

Got it lol.

 

Dollar below 80 cents , first time since 2009

http://www.cbc.ca/news/business/loonie-drops-below-80-cents-us-1.2935186

 

Yup. Lots of the talking heads I watched last night were talking about a 75 cent dollar being the norm for the next year. I'm okay with that. It's not that bad and it's good for our manufacturing. I was just at a meeting where a major food company issued there contracts to growers and decided to hold there price, even though the market is falling, because of the weakness of the dollar. That's good for agriculture.

 

http://www.cbc.ca/news/business/falling-loonie-part-of-a-new-race-to-the-bottom-1.2934962

I wonder what effect another 1/4% drop in the key rate in March will do to markets . I'm considering making a 2015 RRSP contribution early to get some mutual funds in a low value position

 

That I have no idea. I have someone whose done a really good job managing my mutual funds so I tend to just leave him alone.

 

Me too , just thinking about timing of my contribution more than anything

 

and we're down to 78 today

"economist Doug Porter pointed out that the dollar has fallen 19.5 per cent in the past two years as it stood just below parity with the greenback in January 2013.

"That is the largest two-year decline in the Canadian dollar ever, which last I checked is a long period of time. It's even larger than the deep drop in the late '70s when Canadian inflation was running especially hot, and there were very real fiscal concerns, as well as an impending referendum in Quebec," he said."

http://www.cbc.ca/news/business/canadian-dollar-continues-slide-to-78-cents-1.2936443

 

Back in the 70's was the greenback was reacting to the loss of the gold standard and then rebounded, if I remember correctly? Maybe I'm wrong...

Anyways, currency markets are so violitile it's not even funny. Our dollar is pegged to oil (because of what we produce and what people speculate on) now from what I've heard. So it makes sense that if oil keeps falling our dollar will follow till it hits a point where manufacturing props the dollar up. A low dollar means more production from the food processing plants around here, which means more jobs to cover the oil short fall .

I can deal with not going to Vegas this year if the major food processors hire another shift because stuff is so cheap to produce in Canada again. The plants here calculate there long term budgets usually on an 85 cent dollar. When the dollar is way below that they tend to go into over drive to make up some money for when the dollar goes above 85 cents.

 

Canadian dollar is pegged to oil ? Sounds like something I've heard before .

 

Maybe lol.

 

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When the "Moose Buck" hits 50 cents ... ... I can afford a vacation in BC ...

I do remember a (about 73 cent CDN $$). I was there then and paid in USDs ...

St Catherines Street in Montreal was not so expensive.
.

 

I seriously doubt it will go below 75 cents

 

I doubt a drop that far.

Canadians are "economically smarter" (common sense wise) than Americans ... they just get caught in these "economic downwinds".

 

It was trading at 78 cents today

 

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With a 50 cent CDN $$ ... I could maybe could afford the OZ to help me with the kitchen.

A lot of sun down here too.