O Canada

[forsyth]

It's the end of an era. I can't make fun of Canadian money any more.

U.S. Dollar Exchange Rate Canadian Dollar
1 Sep 28 0.9944 0.9944
(Chart and stuff)

For all that I'm joking about it, the fall in the dollar is a Bad Thing, at least for the US. It means imports are going to be more expensive, and we import practically everything. It's a sign of how weak our economy is. And it means inflation is going to up. On top of the collapse of the lending scam housing bubble, and on top of all the growth for the past seven years going to the very richest

Comments

[amazingadrian.livejournal.com]

Some of my friends think we're heading towards another depression, or some other sort of global scale economic disaster. I'm pretty sure the fall of the dollar has to do with unrestrained spending on the Iraq War, so we could possibly pick it back up again, but it would take a change of leadership policy and a very long time waiting for the budget to stabilize.

We're still better off than most countries at the moment, and we aren't that far behind the Euro, or Canada's currency. I'm pretty sure we're ahead of everyone else.

[forsythferret.livejournal.com]

Here's a handy chart: http://www.x-rates.com/d/USD/table.html

The Euro's about $1.50. The exchange rate depends on how they base their currency, too. The Yen, for example, is the nearish equivalent of a penny. And some currencies are "pegged" to the dollar. The Chinese Yaun, for instance. So they have a constant rate of exchange.

Yes, the occupation of Iraq has a lot to do with this. And so does the collapse in the mortgage market. And the deficit and debt. We owe an absurd amount of money to the central banks of China and Japan, among others. Especially China.