Friday, September 21, 2007

Oh Caaanada... parity with USD at last!

Ooooh yeah, 1 Canadian dollar now buys more than 1 USD--so much for making fun of Canadians!

Canada kicks ass... especially their currency--oh what fun it is to have a budget surplus and a currency so correlated with basic materials, natural resources, and mining.

Just look at the appreciation! This is awesome for anyone that has a lot of their investments/holdings in Canadian dollars. (i.e. my Roth IRA... weeee!)

This will hurt Canadian exports to the U.S. though--paper and forestry products, gas, and any other manufactured products whose cost curve is based on the loonie. But that's a story for another time... I just wanted to express my excitement at this monumental event! Let's see if it lasts (and with the way the U.S. has been handling fiscal and monetary policies, and with inflationary pressures in basic materials, it should!)


No comments: