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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

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Old 09-20-2007, 08:29 PM   #1
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Default Ladies and Gentlemen, Your Money is Officially Worthless

Quote:
Originally Posted by TheStreet.com
The dollar sank like a stone Thursday. It traded at par with the Canadian dollar, of all things, for the first time in 30 years, while also hitting new lows against the euro and the British pound.
I'm glad I'm back home for a while. I saw the line "Canadian dollar, of all things" and knew I had to post. Haha...
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Old 09-20-2007, 08:39 PM   #2
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This is craziness. When will it stop!
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Old 09-20-2007, 09:18 PM   #3
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hey eh??!
well i wish i could go shopping south of the border

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Old 09-21-2007, 06:42 AM   #4
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Lol I love how differently they worded that in the states...It's such a big thing in CAN, it's AWESOME! (except for that fact that you know, everything is still 1/3 more expensive here.... ) And it couldnt have happened at a more perfect time, I have to pay the last 4500$ for my stay with GVI in south africa this week and it's in US dollars suhweet!
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Old 09-21-2007, 08:30 AM   #5
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I get so annoyed because for a little while now the Canadian dollar has been pretty close to the US dollar and yet still things are more expensive here! Like SA said, by about a third. They need to just make a north american dollar and have everything be the same price!
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Old 09-21-2007, 09:37 AM   #6
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They need to just make a north american dollar and have everything be the same price!
Yeah, but then Mexico would want to get in on the action, and the average value against the Euro would drop to like 10 cents. Plus, I don't know if you guys are ready to handle one dollar bills. Haha...
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Old 09-21-2007, 09:41 AM   #7
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a single 'north american dollar' would be great. but we'd never agree on the design. (george washington vs. the queen, eagles vs. loons etc.)


by the way, i'm completely fucked when i head to the uk and netherdlands in a few months. my sister, on the other hand, is payed in pounds and is comming over to the states to shop.
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Old 09-21-2007, 01:14 PM   #8
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Years ago we used to refer to the Canadian Dollar as the Canadian Peso

Now the joke's on us.
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Old 09-21-2007, 05:49 PM   #9
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Originally Posted by simply_angelic View Post
Lol I love how differently they worded that in the states...It's such a big thing in CAN, it's AWESOME! (except for that fact that you know, everything is still 1/3 more expensive here.... ) And it couldnt have happened at a more perfect time, I have to pay the last 4500$ for my stay with GVI in south africa this week and it's in US dollars suhweet!
Socialized medicine has to be paid for somehow, y'know. Mostly why so many are opposed to it here is because of the tax burden. My taxes just went up drastically AGAIN. I don't want 'em to go up anymore.

Record low inflation in the US has set the dollar up for a nasty slide, not too mention the Chinese, and other countries such as Zimbabwe, (which has 7600% inflation), Venezuela, and North Korea stockpiling billions of US dollars physically in their state banks for emergency purposes.

This has caused the Treaury to authorize the printing of more US notes to combat the amount physically taken out of circulation, thus devalueing the dollar further. Inflation levels at low points are good in some aspects of the economy, and horrific in others.

I'm not too terribly concerned, however. It is still the dollar that is traded most heavily in the dark world of mobsters, terrorists, and dictatorships . Saddam Hussein had 100's of millions of dollars in his vaults when the US invaded. No telling what he got out of there prior. Dollar is still the most widely accepted currency in the legit world, too.
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Old 09-21-2007, 07:21 PM   #10
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I would never want a North American dollar... badddd idea.
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Old 09-21-2007, 08:21 PM   #11
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Quote:
Originally Posted by MolsonGirl View Post
I would never want a North American dollar... badddd idea.
Ahh, the Amero. It rears its ugly head once more.

The struggle to equalize the economies in the EU to allow the Euro to exist has essentially shifted the entire paradigm of national identity into a murky mess that for all intents and purposes.

Because the Euro was initially pegged to the German Mark, and it being the strongest currency behind the dollar (and then English pound well behind), initially smaller economies and weaker currencies had the issue of massive increases in costs of living, despite the safeguards the EU put into place. Eventually this equalized because the wages of weaker economies increased to match the stronger ones. Forget about the cultural differences, economics are daunting enough.

So, take the US economy, the 800lb gorilla on the block and combine with the Canadian. Because of the sheer dominance of the dollar in terms of world currency reserves (according to Wiki 65.7% in 2006 is dollars), the way commodities such as gold are traded and measured (in dollars, nothing else), the Canadian economy would benefit greatly from a common currrency.

Flip side: The Mexican economy is neither strong, nor as advanced as the other two NA economies. Sure, NAFTA has increased the amount of NA investment in Mexico, but the costs to the citizens would be immeasurable. The cost of daily staples of life in Mexico would go through the roof, as the economy equalized with the other two. The sheer poverty of Mexico comparitively prevents it from unifying without severe struggle.

And then the worst part- devaluing the dollar to match all three economies would throw the US into a massive recession on account of the inflation of the Mexican and Canadian economies to match. Not to mention the sudden sale of all US dollars in foreign currency reserves would equal a disaster making the Great Depression starting in 1929 look like a week without pay. The shift to the Euro then as a standard of currency reserve would devalue the Amero to possibly worthless. Theoretically, if the Amero devalued the dollar by 90% intially to just match the Mexican economy, a job paying $150 an hour would be poverty level. Just doesn't jive.

Okay, economics lesson over. My head hurts
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