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| Canada Dollar Tumbles as Nation Loses Most Jobs Since November | |
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| Tweet Topic Started: Aug 6 2016, 09:54 PM (1,440 Views) | |
| Robertr2000 | Aug 6 2016, 09:54 PM Post #1 |
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Canada Dollar Tumbles as Nation Loses Most Jobs Since November 8/5/16 The Canadian dollar tumbled the most since June after a report showed the nation’s labor market unexpectedly contracted last month. The currency fell as the number of employed people in Canada declined by 31,200 in July, the most since November, after posting an unexpected loss of 700 the month prior, according to data released by Statistics Canada. A Bloomberg survey of economists forecast 10,000 new hires for the month. Meanwhile, data out of the U.S. showed better-than-expected job creation, renewing expectations that the Fed may tighten monetary policy this year. The loonie, as the Canadian dollar is nicknamed, fell 1.1 percent to $1.3169 against the greenback as of 8:53 a.m. in Toronto. The Canadian dollar is still the second-best performing currency behind the Japanese yen among its Group-of-10 peers this year. https://finance.yahoo.com/news/canada-dollar-tumbles-nation-loses-125834437.html |
| "if that **** wins we'll all hang from nooses" | |
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| nNeo | Aug 6 2016, 10:27 PM Post #2 |
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Guess they need a wall. |
| “Strong people don’t need strong leaders.” | |
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| George Aligator | Aug 9 2016, 07:57 PM Post #3 |
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The USA could learn a lot from the Canadians. A tumbling dollar would make imported goods more expensive while making US products cheapter in world markets. If you want to raise incomes while creating jobs, inflating the dollar is the cheapest easiest way to go. It would make that 19 trillion dollar debt a lot easier to deal with too. |
| Conservatism is a social disease | |
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| Robert Stout | Aug 10 2016, 04:49 AM Post #4 |
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There are pluses and minuses to Canada with decreasing value of their currency...On the plus side domestic demand for Canadian products increase, exports are increased, and tourism in Canada increases....On the negative side imports are more expensive, the cost of living is higher, and debt service in foreign currency costs more...Maintaining payments on a governments national debt is substantially more expensive due to decreased currency value and inflation, leaving much less money for social programs and other government programs....This is the fly in the ointment to Aligator's voodoo economic solution....Of course deflation is not any better.........
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| Jesus can raise the dead, but he can't fix stupid | |
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| Realitycheck | Aug 10 2016, 09:37 AM Post #5 |
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When the Loonie rises, one group of people in the markets set their hair on fire and run around screaming "the sky is falling...". When the dollar drops, one group of people sets their hair on fire and runs around screaming"The sky is falling...". The amusing thing is, they are always the same people. Meanwhile overall, little changes despite the dire warnings. |
| Religion in general and xianity in particular, is the worst scourge, the foulest plague to ever beset mankind. | |
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| voted4reagan | Aug 10 2016, 10:04 AM Post #6 |
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To keep potential American Refugees out??
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Trump needs to focus more so on the male vote. He should have nationalized the Boy Scouts when they decided to admit girls. Harambe4Trump AKA "FASHY" | |
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| George Aligator | Aug 10 2016, 11:07 AM Post #7 |
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Sovereign debt is payable in national currency. Canadian businesses borrowing in foreign currency do so because they expect to repay from profits earned in that currency. When local borrowers are forced to take loans in a foreign currency they get screwed the way the Greeks did with the euro. Relative value of currency has always had the same class issues: debtors want inflation, lenders want deflation. |
| Conservatism is a social disease | |
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| Robertr2000 | Aug 10 2016, 11:31 AM Post #8 |
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When USA gets a cold, Canada sneezes. But the MSM and Obama says everything has never been better... ?
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| "if that **** wins we'll all hang from nooses" | |
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| George Aligator | Aug 10 2016, 07:14 PM Post #9 |
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I live on the border and as the exchange rate fluctuates we can see the effects by looking out the window. Strong greenback and tourists flock to Canada. |
| Conservatism is a social disease | |
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| Mystique | Aug 10 2016, 11:53 PM Post #10 |
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Oh s**t. |
| JILL STEIN OR BUST 2016 | |
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| estonianman | Aug 11 2016, 12:46 AM Post #11 |
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where? |
| MEEK AND MILD | |
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| Mystique | Aug 11 2016, 12:48 AM Post #12 |
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Gimli, probably. Or Pickering. |
| JILL STEIN OR BUST 2016 | |
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| George Aligator | Aug 11 2016, 08:34 AM Post #13 |
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Follow the coast from St. Stephens to Halifax and the parking lots are full of Yank cars. |
| Conservatism is a social disease | |
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| jake58 | Aug 13 2016, 11:06 AM Post #14 |
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I'm going to Vancouver for a couple of weeks... should even be able to eat in decent restaurants. |
| That which can be asserted without evidence; can be dismissed without evidence- Christopher Hitchens | |
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| Robertr2000 | Aug 13 2016, 11:17 AM Post #15 |
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Wrong. The Central Banks create Debt. It is the only product they have. They create debt(Lenders) and manipulate interest rates and make sure that there is inflation. Always. |
| "if that **** wins we'll all hang from nooses" | |
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| George Aligator | Aug 13 2016, 04:08 PM Post #16 |
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It appears from your ridiculous response that you don't know what a central bank is. The label does not refer to a downtown location; it is the bank where the government deposits its income (tax receipts). With government income as collateral, the central bank is in a position to lend the government money and so can serve as a private sector partner to the government treasury. This is not, however, how most government borrowing happens. The central bank does not create government debt. Government debt is created by (surprise!) the government. In our system, lenders are not created by the (Federal Reserve) central bank but by private individuals who purchase Treasury bonds at auction. The interest paid on these securities is discounted, that is it is subtracted from the face value at the time of sale. The bonds go up at auction and are sold to the highest bidder, i.e. the person willing to accept the lowest interest rate. Government debt and the interest thereupon are results of inflationary forces, not causes. The normal rate of inflation is always >0 because of productivity growth. The current rate of inflation is practically zero. So is the interest on government debt because investors around the world willingly sacrifice interest for the security of the full faith and credit of the US government in these troubled times. |
| Conservatism is a social disease | |
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| Robertr2000 | Aug 13 2016, 04:21 PM Post #17 |
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"The central bank does not create government debt."- Surprise, that's not what I said. But where oh where George does the Government get it's debt from? Surprise. The FED. Edited by Robertr2000, Aug 13 2016, 04:22 PM.
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| "if that **** wins we'll all hang from nooses" | |
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| estonianman | Aug 13 2016, 04:28 PM Post #18 |
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I missed the boat - after I married the wifey said lets leave this god foresaken place and never look back. |
| MEEK AND MILD | |
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| jake58 | Aug 13 2016, 05:45 PM Post #19 |
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Really? She thought Vancouver was 'godforsaken'? Drop her off in Biloxi or Gainesville for the summer. |
| That which can be asserted without evidence; can be dismissed without evidence- Christopher Hitchens | |
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| estonianman | Aug 13 2016, 05:47 PM Post #20 |
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Not Vancouver - Barry, Ontario. I loved the lakes and the nature - the leftist crazies, cost and government worship - not so much. |
| MEEK AND MILD | |
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8:52 PM Jul 10