The Day Has Come: 1.00 USD = 1.00 CAD
I would have never thought I’d see the day but alas it has happened, the Canadian dollar carries the same value as the U.S. dollar. According to Yahoo Finance — at the time of this writing — the USD is at 1.00 and the CAD at 1.00.
What does this mean for Americans and Canadians? Basically, the short of it is that it’s going to be a lot cheaper for Canadians visiting America, and a lot more expensive for Americans visiting Canada.
This is such a bizarre concept for me and I’m sure many others, having long been under the notion that the Canadian dollar was much weaker and therefore we as Americans had a much stronger purchasing power. It just goes to show how badly the Bush administration has and continues to destroy the U.S. economy.
Countries around the world have been slowly abandoning the USD standard and more are adopting the Euro. Additionally, many economists have been forecasting a U.S. recession for some time. This US-Canada currency equality provides further evidence to support the recession predictions.
Consider this 5-year graph of USD vs. CAD:
The economic downturn is staggering. I wonder how far off we are from Americans putting their savings in other currencies like the Euro. Lord knows the wealthiest U.S. elite are already doing it.
5 Comments, Comment or Ping
Erika Strum
Consider this: Canadians talk silly. Exhibit A: What are you talkin aboot, ey?
I just proved it.
Sep 20th, 2007
Jon Holato
Careful, 5-10 years from now they could be the dominant North American country given the way things are going here, and you could be speaking the same way.
Sep 21st, 2007
Florchakh
Sep 23rd, 2007
LastNYCHero
The FED lowering interest rates does not help either. The dollar will continue to tumble, paving the way for the North American Union, a political and economic block like the European Union. China and other holders of US dollars are likely to dump them further driving down our purchasing power. Might as well spend your money on useful things like a hammer or a bucket. Something where its value is in its usefulness.
Sep 23rd, 2007
Scott
Wow! The Canadian dollar was around 60 cents when Bush took over. But… that was before we spent $500 billion on a war that ended up killing 1 million Iraqis over WMD they didn’t have, and before Bush increased our national debt by a mammoth 50% ($3,000,000,000,000)
Now Warren Buffett is dumping his dollars. I think that tells us it’s time to apply for that Maple Leaf card before Canadians get around to voting on a 1000 mile long wall from Lubec Maine to Thunder Bay.
Sep 24th, 2007
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