The new peso

[Beefcake]

So I was doing a little internet shopping today, looking at all of the great deals on boats right now, and a boat in Canada caught my eye. I decided to look up the exchange rate to see how much I would save by buying a Canadian boat... Right! That funny looking monopoly money is worth more than our greenbacks. Holy cow! That used to be half the fun of going to Canada; it felt like everything was on sale. I guess Canucks will get to feel that way when they come down here now, eh?

[Vercingetorix]

Well, at least we still have the Italian Lira. (1 USD - 1311 Lira)

[scubadiver888]

Canadian money isn't worth more than US dollars, thank goodness. A lot of Canadian companies rely on doing business with the US. With the strong Canadian dollar, it is not as appealing to do business with us.

I remember when I worked for a US company. When I joined $1.00 US was $1.30 CDN. If I was making $50,000/year CDN, the US office was paying me approximately $38,500. With today's exchange rate the US office now pays $46,300. Essentially, everyone here got a 20% raise for no good reason.

A strong Canadian dollar and a weak US dollar is a bad thing for our economy.

[Lulubelle]

Originally Posted by Vercingetorix

Well, at least we still have the Italian Lira. (1 USD - 1311 Lira)

Uh, V, Italy has been using the Euro for a long time now. I miss the days of the lira, everything was on sale!

[Beefcake]

SD888 is right. I just double checked, and the currency converter I used on the internet converted it the wrong way. It's still close, though. It looks like the exchange rate has been steady around $1.07

[SEMO Scuba]

There are economist that say a weak dollar will create U.S. jobs in manufacturing because it will make imports more expensive thus stimulating manufacturing more products here.

[Beefcake]

Originally Posted by SEMO Scuba

There are economist that say a weak dollar will create U.S. jobs in manufacturing because it will make imports more expensive thus stimulating manufacturing more products here.

Man, I hope so! Otherwise, I don't see where new jobs will come from. Manufacturing pulled us out of the great depression, and high-tech pulled us out of the big recession of the early 80's, but I just don't see how we can hope to recover without some new source of employment (other than the construction and service businesses that have been driving the economy for the past decade +).

[db83]

Problem is, no matter how little you pay a worker here, their counterpart in a poorer country will always be cheaper.

[Beefcake]

Originally Posted by db83

Problem is, no matter how little you pay a worker here, their counterpart in a poorer country will always be cheaper.

True dat. I think we're going to see a whole new definition of "minimum wage" in the near future.

[nrembis]

"The New Peso"

I figured it was going to be a photo of a newly minted version with Obama on the front and Bernanke on the back.