OhioFisherman Posted March 5, 2009 Report Share Posted March 5, 2009 http://www.newsvine.com/_news/2009/03/05/2...rds-again-in-4q Link to comment Share on other sites More sharing options...
cram Posted March 5, 2009 Report Share Posted March 5, 2009 The US is in real trouble. Unfortunately for those who were smart and responsible with their home purchases, the irresponsible buyers are going to have to be bailed out. Europe is in worst shape. They don't have the same sub-prime borrowing issues but their banking systems in general are more highly leveraged than the US... Be thankful that most of us live in Canada. Our banks are the best in the world. A massive portion of our economy depends on th US though. Link to comment Share on other sites More sharing options...
DRIFTER_016 Posted March 5, 2009 Report Share Posted March 5, 2009 What I'm trying to figure out is if the US is that much worse off than Canada why is our dollar so weak compared to theirs. Link to comment Share on other sites More sharing options...
misfish Posted March 5, 2009 Report Share Posted March 5, 2009 What I'm trying to figure out is if the US is that much worse off than Canada why is our dollar so weak compared to theirs. I can never figure that out either. Link to comment Share on other sites More sharing options...
Fisherman Posted March 5, 2009 Report Share Posted March 5, 2009 It's the conceived thought that the US currency should be higher and the twits of the world that are investing money there. For us, in one way it's better to have our currency a little lower to keep mfgr sales up, on the other hand, who wants to invest here when our looney is low. Personally I would rather see the interest rate rise a bit, keep the retards from further senseless spending, lower the rate, the ones without purse string will just keep spending wildly. My wife just related a good story to me last night, husband and wife buy an extra large house, 5bedroom, 4 poopers, etc, etc, now they can't pay for it, she's cut to 1/2 time, he goes to a lower paying job, he's got a honkin big truck (as a stereo installer), she's got a big SUV. Maybe live within your means to start off with, eh? Now where do you find sympathy...? Link to comment Share on other sites More sharing options...
OhioFisherman Posted March 6, 2009 Author Report Share Posted March 6, 2009 Fisherman, a lot of what you say is true. A big difference in the banking system also, ours were actively pushing credit, even to people that were poor risks for it. Not just on homes but cars and credit cards also. I refinanced my home early in 2003, I was sick, didn`t know what was wrong or how long I could continue working. Didn`t really owe that much more on it but wanted to lower the monthly payment in case I couldn`t continue working. Banker seemed agitated that I wouldn`t cash out equity, no dude my sole reason is to lower the payment. A safety net, it worked, paid the loan off 3 years later even though I wasn`t working. When I see or hear some of the loans people took I am just amazed. Link to comment Share on other sites More sharing options...
bigfish1965 Posted March 6, 2009 Report Share Posted March 6, 2009 What I'm trying to figure out is if the US is that much worse off than Canada why is our dollar so weak compared to theirs. Traders have now tied our dollar to the price of oil. This is because we now have the worlds largest oil reserve so it is considered our biggest asset...compare oil prices to the dollar and you will see the correlation. We do now have the best banking system in the world...but just a few years back the banks were crying for less regulation...bet they are glad they didn't get it, huh! Link to comment Share on other sites More sharing options...
OhioFisherman Posted March 6, 2009 Author Report Share Posted March 6, 2009 LOL Rick, a lot easier, er and cheaper to prevent the mistakes than try to fix them afterwards? Link to comment Share on other sites More sharing options...
Maverick Posted March 6, 2009 Report Share Posted March 6, 2009 What I'm trying to figure out is if the US is that much worse off than Canada why is our dollar so weak compared to theirs. The main reason is the demand for US currency. When they passed all these bailouts for trillions of dollars the demand for the USD increased significantly. So this extremely high demand for the USD due to bailouts has overcome the fact that our economy is in better shape then theirs. So due to the excess demand the cost of the USD is going to increase. Simple supply and demand or as Ricky says "It's supply and command, everybody knows that". Link to comment Share on other sites More sharing options...
cram Posted March 6, 2009 Report Share Posted March 6, 2009 And, expect the US dollar to drop substantially in the future. Prices are deflating right now, but the US is in for big time inflation....which means their dollar should drop against ours. Link to comment Share on other sites More sharing options...
DRIFTER_016 Posted March 6, 2009 Report Share Posted March 6, 2009 And, expect the US dollar to drop substantially in the future. Prices are deflating right now, but the US is in for big time inflation....which means their dollar should drop against ours. Hopefully before my annual month long pilgrimage to Alaska in September. It would be nice to have a strong Looney and reasonable (compared to 2008) gas at the same time. At one station in the Northern Rockies I paid $1.799/liter last September!! For you Yanks, that's $6.80 Canadian/ Gallon!!!! Link to comment Share on other sites More sharing options...
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