Is it just me or are others finding the reportage of the Looney becoming par with the US$ revolting? I just wanted to note a couple of things.
- The loonies strength is not real strength, but only strength relative to the US$ which through US mismanagement has fallen against almost all currencies, particularly the Euro. I understand Venezuela to be an exception. The reason for the US$'s decline is simple. You can't have both guns and butter and Bush would seem not to care a jot for the fiscal and social health of the nation that he is charged with.
- The loonie, with Canada's abundant and currently fashionable resources and resource based economy, ought to have traded higher than the US$ long ago.
- I will think of more.
So quit the damn gloating!
MJR
PS Am very much looking forward to our next visit to the US. For one thing, it will be that much easier in the malls, restaurants and grocery stores to know what goods are costing us. The old trick of adding GST and PST to the sticker price is no longer necessary.
PPS www.blog.snappingturtle.net has a much better discussion of this. Mine is merely a rant.
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