| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 9:10:18 AM | With the Canadian Dollar at a 30yr high (95cents plus American) why are Canadians still paying so much for goods compared to our American counter parts?
From greeting cards to books, we are paying almost double the price. When it comes to Cars and Recreational Vehicles it can be upwards of thousands of dollars. When it comes to Cars we could be paying up too $10,000.00 or more, depending on the car. Not to mention the Canadian car companies stating they will not honor warranties of cars purchased in the United States by Canadians.
What happened to free trade and why isn’t our Canadian Government stopping the price fixing or what I think is akin to the racketeering and price gouging of Canadian companies.
Do you think Canadians are paying the price for companies who flourished when our dollars was 67 cents American, while not upgrading and keeping them more cost efficient to produce their products.
Am I the only one who thinks once again we Canadians are getting the short end of the stick?  | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 9:19:18 AM | | I am personally for a Trudeau like leader again or a Diefenbaker. I would rather Canada invest more in producing its own things. However, it is hard to do that. Bay Street won't have it. They are making so much money. The Canadian Government is too beholden to business groups tied to America. Mulroney shouldn't have accepted Free Trade and should have rather built the Canadian economy and helped encourage Canadian industries. It didn't happen. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 12:26:44 PM |
Am I the only one who thinks once again we Canadians are getting the short end of the stick?
Definitely not, you ain't the only one!
We may have the NAFTA agreement and NO tariffs on US-made items but we still have to pay the GST on whatever we bring across the border. This smells as an import tax to me. Visitors to Canada on the other hand get their GST refunded! What's with that???
At least our GST isn't as high as some of the European VAT's that are out there! | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 1:31:35 PM | north American made goods are way more expensive than imports...but it sure isn't because of lower wages...think about the costs of shipping anything. Heck...e-bay members charge a fortune for small items...what would the cost of shipping a container full of stuff be...plus tariffs, customs, duty, blah, blah,blah...
Of course Canadians are being ripped off. We are a society of sheeple here...willing to allow gov't to tromp us, criminals to do what they will with us, and no recourse unless we wish to face charges ourselves.
time for a recall law for politicians and a few changes in marketing. Say somehting like 40% of all store area devoted to Canadian goods only. (Watch Walmart cry foul!) | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 5:34:05 PM | Actually it is hurting me. At least 80% of our customers where I work are in the USA. We build in Canadian dollars and sell in American dollars. We have a decent profit sharing program and it is going to take a hit this year over this.
When the Canadian dollar was @ .80 we made 20% on every profit dollar. That is a huge amount of money when you are talking about millions of dollars / year in sales.
I hope America turns it around soon and the Canadian loonie goes back to .80 - .85. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 5:46:46 PM | | I think Canada is too tied to the American basket. Mulroney did Canada a serious disservice. As far as Canadians being sheep, it is no different than Americans being sheep as well. Essentially, the same kind of people control both Canada and America. I believe Trudeau was trying to diversify who Canada traded with other countries more and diversified, but his success Mulroney reversed all that. It was no surprise that Mulroney later was found on the board of directors of an American corporation. Canadians shouldn't have accepted NAFTA. It is a bad agreement and very unequal. Since the Canadian dollar is high, Canada needs more technologically based goods. I mean the Euro is high as well. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 6:14:47 PM |
Canadians shouldn't have accepted NAFTA. It is a bad agreement and very unequal.
How can opening the door to the largest consumer market on the planet be bad for Canada? Are you aware that America has a large trade defecit with us? In the billions?
If anything, it is working out to being unequal to the Americans. So much so it is causing problems, ie; the softwood lumber dispute.
I think people who bash NAFTA do not truly understand its real impact, and are more interested in bashing Mulroney. NAFTA is one of the primary reasons our economy up here is so strong.
Are Americans buying Canadian companies? Sure they are. But who cares? The jobs are staying here. And it is not just rich Americans investing here. Rich European / Japaneese companies are to. Why do you think Honda and Toyota are expanding here like mad? These companies bring a boatload of jobs here. The low Canadian dollar was attracting them here big time, to build / manufacture with Canadian currency and sell in American currency. The high Canadian dollar is hurting this, especially manufacturers in Ontario. They do not have a reason to invest here, if our dollars are ever at par.
Personally I don't care if my rich boss is Canadian or American, or European, as long as I have a job to put food on my table.
Should we expand our trade agreements with the rest of the world? Yep, and we are.
The future looks good for us, on the economic front. For a few reasons, NAFTA being one of the main ones. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 9:16:44 PM | For those saying Free Trade hurt Canadian business, um, what is it about trade surlplas every in year in Canadas favour that you cant understand?
With every single Industrial nation in the world, part of a trade agreement with others , we have to belong to one. The South East Asian Countries are in a block now, the European Common Market another, to compete we need to belong to one, and the most logical happens to be the North America one.
If any country is stealing jobs from us, its not the Americans its the Chinese. Now, that is a country that does not in any way, shape or form, follow patent laws or recognize them. But I bet, when they dump cars here shortly, lots of Canadians will rush to buy one.
Personally, while the company I work for has suffered with their Pork Products exports, I am benifiting from the high dollar. As a frequent traveller to the States, hey it feels good to buy stuff at par. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/10/2007 11:22:40 PM | Anybody who understands the fundamentals of our economy also understands that a high Canadian dollar isn't very good for our business. Since most of our trade is with the US (about eighty percent) the more expensive it is for them to import our goods the less likely they are to do it.
As for why we're not paying less even with a higher valued dollar it's simple : contrary to popular belief , most of the items we shop for on a regular basis are already produced right here in the homeland. And when it comes to things like DVD players , stereos, and pogo sticks (well, whatever, you get the idea) ... well, have you looked at where they usually state they were manufactured ? It's not the US.
In short, a valuable Canadian dollar only benefits us to a point. As long as we do more exporting to the US as opposed to importing it's not likely we'll see much difference in prices at the consumer level.
Don't forget as well that this stuff is gradual. Distributors will buy massive amounts of stock on the presumption that they will sell them at a profit over time. It could take years before this is reflected at the consumer level and by then , due to the lack of inflation , since you'd end paying the same thing then as you pay today, you won't notice any difference.
Truth is, this would only work in Canada's favour if we were a net importer of goods (which we're not) | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/11/2007 8:09:46 AM | Well, I am not opposed to free trade on the European model. Well, I prefer that Canada focus on the long-term and build more industries, invest in more technology rather than simply relying on the United States. I don't think putting your eggs all in the American basket is wise. Yes, it is great having a surplus with America. Canada has always had a surplus with America even before NAFTA. That isn't new. The high currency is affecting Canada because Canada is not being much of a producer country. Why not change that? The Europeans produce their own things and so do the Asians.
Canada is relying too heavily on natural resources when it has so many educated people. I am not for dismantling NAFTA, but I do question how it would improve Canada's productivity, encourage technological innovation. I think Canada is way too reliant on its neighbour to the South. The EURO is a high currency, but the Europeans are producers. It is true there are various trading blocs. However, in Asia it will take them a long time to have a real trading block due to the ethnic hatred that exist. Also, NAFTA does not seem to be even handed with the way we saw the disputes. There are people who question how NAFTA could place Canadian resources in the hands of foreigners. Partial investment is one thing and if there was equality between the U.S. and Canada on the European model then I would be enthusiastic about NAFTA. I agree it has benefits and that exports have increased overall when the Canadian dollar was not so high. The U.S. dollar has decline tremendously it is not so much that the Canadian dollar increased and that's that. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/11/2007 8:43:34 AM | Oerhaps those who are in favour of Nafta can explain why a lot of jobs are being sent to China? Mexico? Industrial jobs are flying out of both the US and Canada. Michigan has thousands of factories shut down alone! Quebec was working a lot with the lumber industry. Shutdowns in all areas have caused serious problems with many towns, seeing as cabinet and door makers are closing down, mills shutting down, etc. Sometimes these are the major employers, so the town goes belly up! The town I'm in is one. The gov't is taking information from the thousands who are out of work because of this, wanting to know if they worked in the forestry, milling, or finishing area. IF you lost your job, and it had to do with wood, the gov't wants to know! They are compiling a list of all sectors affected. There are people who have been at it for 25-30 years...too old to retrain, and will never see a company pension, if it was even offered in the first place! (Not many have that benefit offered.)
Sure, selling in American dollars makes it seem as if you are making a load...but when the taxes, of various kinds are paid, the company doesn't make near as much as you figure. (Everything from capital gains to tarriffs to excise tax.)
I'd like to see the Canadian dollar eclipse the American one...then we'd see an influx of trade. The only reason car manufacturers are opening here from overseas is because of the trade agreements that stated that they were only allowed to import so many vehicles...the othes HAD to be assembled here. (Nice try to those who pointed out the fact that "new jobs" in auto industry are opening up.) Note how many of those jobs are paying less than what North American car makers pay, and far less benefits. The money is better than average, but again, not in comparison to some.
McJobs seem to be the norm now. Starvation wage, the gov't forces you to accept because "It's a job!" meanwhile it doesn't come close to paying the bills. We are slowly becoming a society of the working poor. General Strike.....I'd be there!
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/11/2007 1:56:54 PM | YNA6,
NAFTA was an inevitability and we were lucky enough to get it done early. The world is being divided into trading blocs. It's sort of like the difference between Wal-Mart and the Mom-and-Pop corner stores. The little guys will lose if they don't band together. It's tough to argue that we're worse off now than we were twenty years ago considering the surpluses and general level of wealth in this country. That taxation and tight purse strings have dealt us a slight quality of life blow doesn't actually change the fact that that has little to do with our nation's wealth. That's a matter that has to be dealt with by the governments we elect.
And those jobs that have all gone overseas ? I highly doubt they'd be here even if NAFTA had never been signed. We are essentially exporting our McJobs despite how things might look. In the meantime we haven't got enough people to fill the higher-end positions we've created. If the government really wanted to change that they'd start telling people that educations for high-demand occupations were free. Nevertheless, that's something to take up with your MP , not your US ambassador. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/11/2007 2:18:33 PM | "Visitors to Canada on the other hand get their GST refunded! What's with that???"
Not anymore,the Canadian government ended that last year.
As for NAFTA I think that was wrong because of the inequities with Mexico,many factory jobs went there and now they are in China.
http://www.embassymag.ca/html/index.php?display=story&full_path=/2007/july/11/visitortaxrebate/ | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/12/2007 3:49:48 AM | We're being gouged....
Plain and simple and primarily by distributors......
Electronics prices are dropping very slowly, but are nowhere near
the prices available to U.S consumers.
The biggest price drops I've seen are in the computer components
market. Some prices for items such as memory are almost on par
with online U.S retailer pricing.
The smaller market reasoning is bogus........
FYI: There are some automobile manufacturers that will honour the
warranties of U.S purchased vehicles in Canada. Look up a site called
Redflagdeals and do a search in the "Deals Forum" for:
New cars from US up to 20% cheaper (cost to import under $200) 
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/12/2007 2:17:14 PM | | It effects my bottom line. I get paid in USD which is then deposited to my account in CAD. This costs me thousands so I won't be seeing any benefits aside from perhaps travelling to the US and it not costing me as much as it used to. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/18/2007 6:38:07 PM | Aw yes NAFTA; the great free trade agreement! Only thing is it seems to be a little more free for the American’s. Have we for gotten a little matter of the soft wood lumber, tariff the U.S.A. slapped on us. Even though they lose every time we take them to court or the tribunal, they just ignore the ruling. But then again they are the almighty United States and they do what they want, just so long as it is to their advantage.
Let’s look at the banning g of Canadian beef over the mad cow found in Alberta. Does any one really believe the band it over health and safety concerns? I am willing to bet that the beef farmers who made a small fortune out of this weren’t complaining; even though the price of beef for the average American consumer went through the roof, because of a lack of beef. Do you think the consumer was worried about our beef or just worried about the cost of beef?
Oh and let us not forget the automotive industry. Why do he U.S. car companies love to build cars here. The low dollar or the fact they save a fortune, due to our universal health care.
It is like I have said from the start. Our manufacturing companies didn’t have to keep their companies efficient with the low dollar. Now that it is hitting 95 cents American they are crying.
Any one who thinks our dollar will be back to 67 or even 80 cents American soon is dreaming. It’s not manufacturing that causing this rise. It’s the oil companies in Alberta and Saskatchewan and soon Newfoundland that got our dollar on the rise; and trust me so long as there is an ounce of oil in the ground or the oil sands our dollar will stay where it is or even rise.
Reading this post I see the ones most upset over the dollar are the ones who are paid in American dollars. Well guys and ladies I am sorry for you loss. However since the high dollar is here to stay I am still wondering, why are we not seeing a price drop here in Canada. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/19/2007 11:37:43 AM | Hate to break it to you but the GST refund to visiting outsiders is a joke. I was in Toronto last Nov. (when I learned of POF) and since the government wants originals, if one is there on business and has to turn in receipts to their company (or for tax records) they are screwed. It is so much of a hassle most of us from down south give up and don't even bother.   | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/22/2007 3:25:37 PM | | The Canadain dollars at 95 cents makes it cheaper to buy goods in the Untied States, and it cost more to buy goods in Canada, but if it was the 1970s before floating exchange rates a devalution would be preformed on both sides on the border to stick it back to China. China needs to float the yaun or else producers will ask congress or parliament to do it. Thier a bill floating somewhere asking for 27% traiffs on Chinese goods, and goverment should give tax writeoffs when you buy captial goods domestically. Chinese give production tax breaks to sell goods below production costs for export,. Why cant Canada or Untied States subsidise the prices of domestic made goods to allow producers to sell local goods below production costs to compete with the Chinese or Japanese made goods. Ricardo theory dont apply here, and Chinas rigging the game. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/23/2007 1:29:31 AM | if we're talking about percentage wise, the high loonie is not helping much for a number of high profile industries since those industries bank their profits on a favourable exchange rate. so while it may be nice for those consumers cross border shopping, for companies trading in natural resources like water, power, oil & gas, and forestry, having a high loonie des not help a company's profitability in those sectors.
as for those questioning why high end goods like cars and electronics remain cheaper in the us than in canada despite the change in exchange...one reason is that pricing is set on a periodic basis - ie, annually or semi-annually so prices are based on the exchange rates of 6-8 months ago rather than at present. i suspect that if the loonie maintains it's present course, we will see prices for some of those high end items come in line more with those across the border. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/23/2007 11:11:11 AM | I just want to make sure I understand this.
Oil is sold one the world market and is priced in American dollars
So if Alberta sells a barrel of oil at 72 or 73 or what ever a barrel because of the high dollar they are not making as much profit.
I understand as a company the oil industry isn’t making as much.
Does any one here think they are selling less oil?
Because any one who does think that needs to wake up.
Also I noticed the price at the pumps sure jumped in wake of a so called oil shortage.
But I am getting a head of my point here.
Why is it so bad for a huge industry like oil worth billions to cry because of the high loonie and it’s not ok for the average Canadian citizen?
Also let us not forget that it was the Federal Canadian Government who gave the Canadian oil industry the seed money they needed to get started.
If you look world wide, countries who produce oil sell it for next to nothing to their citizens. Look at the price in Arabia and Brazil to name a few. Here we pay the market price and most time over the market price compared to our American friends
So my question is the same for soft wood, water and electricity. Why is it they get to cry when the dollar is high and we the average citizen never gets a break.
The same as oil does any one here foresee anytime soon when the industries will actually be selling less? If any one says yes to any one of these industries other tan lumber your wrong and for the record the only reason lumber is selling less is because the Americans only want our logs so they can cut them at their lumber mills, hence why there is such a battle over the soft would industry.
As for Cars and electronics not being cheaper because the price is set on what the dollar was worth 6 to 8 months ago; the price of electronics has already started to drop. As for cars well the 2008 are starting to come out now. I don’t see much of a price change, even though our loonie has been high for well over a year. | |
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| Have you've seen any benefits from a 95 cent Canadian dollar
Posted: 7/26/2007 11:26:27 PM |
So my question is the same for soft wood, water and electricity. Why is it they get to cry when the dollar is high and we the average citizen never gets a break.
glad you asked the question. why should big industry losing money due to exchange be a cause for concern for the average canadian?
well if you take softwood for instance, the industry directly employs over 10,000 people in the province in bc alone. it's also a major industry in alberta, ontario and quebec. since most mills are in smaller centres outside the big urban centres like vancouver, calgary, toronto and montreal, the wood industry indirectly sustains a lot of those resource dependent communities in a number of provinces. in bc alone, the tax revenues & stumpage from the wood industry provide enough $$$ to the provincial coffers to pay the annual education budget for K-12. when these industries undergo poor markets, the average canadian gets laid off. resource dependent communities undergo mini recessions and in some instances shut down altogether.
this is the way i see it - canadians being able to cross border shop (which incidentally only helps american business with canadian dollars) is not that great an advantage when canadians lose good paying jobs as a result of an unfavourable exchange rate. i'd rather have the jobs and the communities thriving than cheaper shopping. but that's just me. | |
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