General discussion


Time to buy funny money?!

By Oz_Media ·
Well with the Canadian dollar hitting a low not seen for nearly 30 years, is it time for Americans to start buying up Canadian dollars?

We are over 90 cents now, Canadians just MAY start to look south for deals again, though most people I speak to still aren't interested in heading south to save a dolar yet, it's just not worth the hassel.

But if the dollar continues to sink this way, it may be time to start buying that funny coloUred Canadian money. It just may pay of sooner than predicted.

I know when I head south it's great to exchange money so close to par, because a lot of stuff is still pretty cheap in the US, not like it USED to be but it's still a fair deal a lot of the time, even after exchange. Shoes, SOME clothing, sporting goods etc. are still much cheaper in the US than Canada.

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I miss the days

by jdclyde In reply to Time to buy funny money?!

a few years back when the exchange hit about 58. I was in Toronto for a week for training. Near the end of the week, the ex-wife came over (only about a five hour ride, so no biggie for us) and spent the next few days with me. (room and my expenses were already paid for, so why not?)

We did ALL of our Christmas shopping that year, and after reclaiming the GST, it saved us a bundle.

I don't see myself doing that this year, for some reason...... ;\

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I doubt your ex-wife would go ;-)

by jmgarvin In reply to I miss the days

Ya, I miss the days of good currency conversion. When I was in Europe in the mid-90's it dropped from almost 2 marks/USD to about 1.3marks/USD. That REALLY sucked.

'Course the Euro is REALLY strong, and going to Europe this summer I'm feeling it now!

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THat's why I kep a UK account

by Oz_Media In reply to I doubt your ex-wife woul ...

By keeping European residuals in a UK account, it sets me up in many ways, especially for the future.
So far, UK is resisting the Euro, Poounds are still worth more too.

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What a hassle

by jdclyde In reply to THat's why I kep a UK acc ...

When you retire, will it be in Canada or the UK?

I had wanted to get back to Canada again this year (haven't been there since last summer....), but I don't see that happening right away.

Now, is the Canadian getting stronger or the US dollar getting weaker?

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Sad to say, both.

by sleepin'dawg In reply to What a hassle

Right now the Canadian economy is out performing the US economy by almost a point and a half. Sorry about that, especially since I earn most of my money in the US. Once exports fall off things should become more normal with a Canadian dollar in the range of .82 USD. It never had any real reason to be trading in the 60 cent range but it did do marvels for our GNP if not our GDP.

Dawg ]:)

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Some will win, some will lose

by JamesRL In reply to Sad to say, both.

Some Canadian manufacturers that rely on US made parts will sure win in lowering some costs,but lose it back if most of their market is in the US. Those companies who depend entirely on US exports will hurt. Those who ship to other markets like EU and Japan will be ok.

It was undervalued in the 60s range for sure, not sure where it will settle. I can only hope it doesn't move too fast, as the rapid change is unsettling for the economy.

As I mentioned in anoother thread, it will hurt tourism business in Canada alot. It may help US border states and their tourism though.


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so true!

by jdclyde In reply to Some will win, some will ...

I know I am going to spend MUCH less on my trips to the "flight deck" just north of the Toronto Airport with the exchange like it is now! ]:)

I DO love going to "Mr. Greek" though, which is just to the east of the airport. mmmmmm.

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by JamesRL In reply to Some will win, some will ...

I think I know which "flight deck" you are visiting, though I haven't been there myself. I drive by a few airport area gentleman's clubs on my way home.

As for Mr. Greek, oh my friend I am so ashamed for you. Mr. Greek is the McD's of Greek food. They even have a Mr. Greek express which is "fast Greek food".

Next time you are in town, I will take you to the Greek area of Toronto and show you dozens of great places to eat. My fav is Christina's - Friday Night is belly dancer night with live music. And the food is so much better.

You could try and come in the summer during the "Taste of the Danforth" weekend, but you'd better like crowds - over half a million people visit the area that weekend.


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Compared to what I am used to

by jdclyde In reply to Some will win, some will ...

it seemed like a good idea at the time? My ignorance is showing, but hey, I was in town alone and that is what I found on my own.

The only ethinic "culture" in my area would be mexican food. The Hispanics come up to midMichigan to work the crops, and so we get alot of start up mom-n-pop places. Of course the more AUTHENTIC they are, the quicker they get shut down by the health inspector..... :0

I even had a good friend from early childhood have his parents cater my wedding. How many weddings do you go to that serve AUTHENTIC Mexican food? mmmmmmm. B-)

Other ethnic groups for the most part stay down by Detroit. Even have Greek town down there, but I haven't made it there yet. (soon)

Is there a list of when "Taste of the Danforth" and other celibrations will be?

And yes, my boys LOVE to try the different ethnic foods with me. Wish we had grocery stores like you have (except for the not-buying-beer thing).

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I think it's both

by Oz_Media In reply to What a hassle

obviously the USD is on th edownstroke, the Canadian is getting very strong now, th etwo are relational of course.

Retirement, I get both. I get UK retirement (being raised to 65) for when I lived there and for the taxes I now pay. I will also be eligible for Canadian pension at 64 so I get both. the UK pension has VERY little effect on Canadian pension so it works out to a bit more this way.

I don't plan on retiring at 64-65 though and certainly am not holding my breath for a pension plan, which most likely won't exist then anywaqy.

I plan on very early retirement, I almost managed it over the last three years but got bored of teh slow life and decided to go back to the F/T grind again (had a big fat carrot dangled in front of me).

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