I Can’t Believe the News Today, 1

September 21, 2007 psipsina

Yesterday the American dollar hit parity with the Canadian dollar, then actually slipped below the value of the loonie.

When I heard this, all I could say, over and over, was “Holy living fuck.  Holy living fuck.”  You may think this is an odd thing to be upset about, but for anyone under the age of 40 who grew up on the Canadian border, as I did, it’s almost as if someone said, and proved, that the sun rose in the west this morning or water flows uphill or Lindsay Lohan is a virgin.

I’m 38, and this is the first time I ever remember the two currencies being equal.  And sure enough, it hasn’t happened for 30 years, well before I would’ve known or cared about currency exchanges.  For my entire life, businesses in my home town sported “Canadian dollars at par” signs, and I remember my mother explaining that the Canadian dollar wasn’t worth as much as ours, so it was like giving the Canadians a big discount so they would come over and shop.  They get more for their money, and we get their business.  I wonder if our neighbors to the north will extend similar offers to Americans now.

Because of those “at par” signs, I’ve always thought of the loonie as kind of like play money.

So, to add to the many excesses, blunders, sins, and idiocies of the current Bush administration – wars and lies about wars and inane “security” measures that don’t keep us safe and rolling back significant portions of the environmental progress that have been made over the last 30 years and worsening domestic race relations and worsening foreign relations and the complete wiping out of the surplus of the Clinton years and appointing Condoleeza “Miss Incomptence” Rice to one of the highest offices of the land – their monetary policies, deficit spending, and complete failure to rein in the out-of-control mortgage markets (a topic I know a fair amount about, after nearly a decade in the industry) have actually rendered our national currency less valuable than that Monopoly money that circulates across our northern border.

Holy living fuck.

The Republican party has to stop claiming that they represent business and fiscal responsibility if they can’t manage the currency any better than this.  The sun has risen in the west, indeed.


Entry Filed under: banking, bush, business, canada, current events, economics, incompetence, money, morons, mortgage, politics, stupid, waste

2 Comments Add your own

  • 1. Mitsu&hellip  | 

    This may seem like a bad thing for Americans, but it’s actually worse for us Canadians. Where I’m from, tourism makes up a big part of our business, and now we’re losing out on that. Not to mention we’re still getting screwed over by the higher prices on things like books and movies. Anyways, I’m in no rush to go south to do any shopping, the long lines at the border just aren’t worth it. Well, there you have it, a Canadian’s perspective.

  • 2. ginger&hellip  | 

    Knowing the general downward trend in the US dollar, Dan and I bought Euros over the winter in anticipation of a late April vacation in Greece. This worked a tad better than, say, a CD. When we reached Santorini, our hotel innkeeper asked where we were from. We told her, and she said she didn’t expect to see many Americans this year because of the dollar. Our favorite restauranteur over there was trying to learn Japanese, Chinese, and Russian.

    It’s a brave new world.

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