  Lilpup Member Username: Lilpup Post Number: 990 Registered: 06-2004 Posted From: 64.12.116.204 |
Many analysts are predicting the loonie could soon hit 95 cents or even be on par with the U.S. dollar I just knew all that change in the ashtray would pay off... | ||
Goat Member Username: Goat Post Number: 8391 Registered: 10-2003 Posted From: 67.71.56.144 |
Many economists are saying that it will be par in 2007. Thanks to rising energy costs of course. The problem for a border city like us is that tourism will take a hard hit as people will flock to purchase goods in the USA. Thus hurting retail stores. Add in the hit to manufacturing, which does not have the leverage nor the savings for investing in Canada and you have a triple whammy! I believe that the dollar in the .70-.75 cent range is best for Canada. | ||
Erikto Member Username: Erikto Post Number: 354 Registered: 11-2003 Posted From: 64.228.108.111 |
It's certainly a double edged sword. I saw people on the news who were thrilled and couldn't wait to make a bee-line for some Buffalo outlet mall, but the lower Canadian dollar really helped encourage American investment here in decent paying areas like t.v. and film production. Maybe they'll still save enough on not having to but health insurance for Canadian staff, like the car companies, although there is talk of Ford shutting down some 900 jobs worth or production in the next year or so. | ||
Blitz Member Username: Blitz Post Number: 144 Registered: 09-2004 Posted From: 72.139.243.118 |
This is yet another punch in the face for Windsor. It's amazing this city is still standing. | ||
Iheartthed Member Username: Iheartthed Post Number: 50 Registered: 04-2006 Posted From: 141.213.66.220 |
I guess I need to go add to my stockpile of Canadian money... | ||
Bibs Member Username: Bibs Post Number: 488 Registered: 10-2003 Posted From: 198.208.159.18 |
If you take into account the 18% sale tax in Ontario versus 6%, the Canadian dollar is almost equal. Plus the selection of merchandise in the Detroit Metro area is huge compared to Windsor. I see more and more Ontario plates at the time. | ||
Gistok Member Username: Gistok Post Number: 2043 Registered: 08-2004 Posted From: 4.229.147.55 |
Well I bet Casino Windsor is not a happy camper. Whenever I ask folks why the go to Casino Windsor instead of the Detroit Casino's, they almost universally say that their USA dollars goes farther in Windsor. Hmm.... wonder what their new excuse will be? | ||
Upinottawa Member Username: Upinottawa Post Number: 342 Registered: 09-2005 Posted From: 198.103.184.76 |
Casino Windsor still holds the right to manipulate the exchange rate in favour of the US Dollar if it so chooses. This would help the Casino retain US business. Gistok, are you refering to those Americans who take advantage of Canadian income tax law that does not require the inclusion (or reporting) of gambling winnings as income, and therefore effectively avoid reporting their Canadian winnings to the IRS? Americans would never do that.... | ||
Gistok Member Username: Gistok Post Number: 2045 Registered: 08-2004 Posted From: 4.229.147.55 |
Upinottawa.... of course they would never do that!!  If Casino Windsor does manipulate the rate, I could see abuses. What better way to subsidize a Canadian vacation, than by going to Casino Windsor and getting a 20% discount (in Casino Chips) on your US dollars, and then converting the chips to Canadian dollars..... voila! A highly discounted currency exchange.... | ||
Goat Member Username: Goat Post Number: 8401 Registered: 10-2003 Posted From: 67.71.56.144 |
Bibs, the sales tax is 15% soon to be 14%. |
