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  Canada Immigration Forum > About Canada > Business > Our beloved Loonie !
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Our beloved Loonie !




Our hippie Prime Minister spends zero time on issues concerning the economy. he spends his time on pot legalization, refugees, native claims, environment, giving out coats to the needy and any other issues that lead to cool photo-ops.

Today Loonie is 71.25 and future is not GOOD


 
Last edited by: Garvo Gujarati on 20-12-15 11:31:50
looklook

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Post ID: 229498 17-12-15 14:27:06
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RBO
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Member since: Aug 06




Posts: 1740
Location: Mississauaga


Quote:
Originally posted by looklook

Our hippie Prime Minister spends zero time on issues concerning the economy. he spends his time on pot legalization, refugees, native claims, environment, giving out coats to the needy and any other issues that lead to cool photo-ops.

Today Loonie is 71.25 and future is not GOOD



very true....right now he is too busy for taking photographs with Refugees to show the world that we are doing great jobs for Syrian refugees.

He is a another Pappu for Canada.....:clap:

http://www.macleans.ca/news/canada/justin-trudeau-to-syrian-refugees-welcome-home/



 
Last edited by: RBO on 17-12-15 16:45:00
Post ID: 229501 17-12-15 16:44:30
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hchheda
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Member since: Aug 05




Posts: 2233
Location: Woodbridge


While the emotions are understandable - there is nothing the PM can do about he loonie. He has no plans and the Liberal agenda is anyways anti-oil - so they will do nothing to support the canadian oil, maybe even work against it. It was there on their agenda and the country voted for it overwhelmingly. So it is no use complaining about it.

Lets us find our own unique ways to make money with the prospect of lower loonie for the foreseeable future. I have noticed a firming job market in Ontario - some US-CAN companies shifting their production back to Canada. Look at the brighter side of the lower loonie.

Hiren


 
Post ID: 229502 17-12-15 17:49:26
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JRF
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Member since: Jul 04




Posts: 1851
Location: GTA, Ontario


Shouldn't this affect the IT outsourcing companies too.
Not the tatas much who secure an engineering grad for $3 an hour...

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

 
Post ID: 229506 17-12-15 19:52:33
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gktaurus
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Member since: Oct 08




Posts: 170
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Quote:
Originally posted by hchheda

Look at the brighter side..

Hiren


and be happy that you can now be able to get the pot at LCBO.


 
Last edited by: gktaurus on 18-12-15 00:44:20
Post ID: 229508 18-12-15 00:27:35
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vivek901
Senior Desi
Member since: Nov 08




Posts: 220
Location: Canada


This is something I have been watching closely.

I think falling loonie has both advantages and disadvantages.

Advantages

Easy Exports
Local Shoppers- People will shop locally instead of making a trip down south. This will boost the retail industry here
Tourism- Low loonie will boost tourism and will boost students coming to Canada for education.
Immigration- The savings of new immigrants will translate into more Canadian $
Bringing Foreign money- Good time for people to bring any money from India or elsewhere if there are any plans.

Disadvantages
Expensive Importing- This makes groceries more expensive. But this goes down to how much impact this is actually creating every month. On a 500 $ grocery bill may be 25 to 50 $ which can be navigated by better shopping habbits.

Vacations- Vacations to south will become expensive. But hey this is a good chance to look for vacations beyond USA. The fact is there are lot of currencies which have depreciated more than CAD against US. E.g- Brazilian Riyal, Australian $,Mexican Peso, Euro has equally depreciated though little lesser depreciation. But still CAD/EUR has changed by 10% as opposed to 35% against USD. Money can be saved on vacations by smart planning and keeping an eye on deals.

So it can impact different people in different way and it really depends on what everyone's choice is.





 
Post ID: 229509 18-12-15 11:32:20
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hchheda
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Member since: Aug 05




Posts: 2233
Location: Woodbridge


What he said.. +1

 
Post ID: 229510 18-12-15 12:33:30
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vivek901
Senior Desi
Member since: Nov 08




Posts: 220
Location: Canada


And just to add,

Trudeau has just been elected into the office, he is not causing this. This is economics and it is basically based on factors outside his control. He can make policies and propose bills. At the end of the day, the economics of supply and demand will factor in, He is just a facilitator. And again as I said in my previous post, it is not just CAD which is going down all the currencies (except the ones with Fixed exchange rate/pegging). Look at the below chart which shows performance of major currencies and emerging markets against USD(USD appreciation vs other currencies) during past 2 years and you will realize that its not just CAD. The emerging markets except (India) have been far more worse.

Canada USD /CAD 27.83%
UK USD /GBP 8.44%
Australia USD /AUD 23.02%
Europe USD /EUR 25.37%

Emerging Markets

India USD /INR 8.24%
Russia USD /RUB 111.31%
South Africa USD /ZAR 45.70%
Brazil USD /BRL 62.03%





 
Post ID: 229511 18-12-15 15:03:50
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dhaikin
Senior Desi
Member since: Jul 13




Posts: 301
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Loonie is screwed now. Lower oil price is here to stay, & household debt of epic/biblical proportion will keep loonie at depressed levels.
As far a manufacturing revival goes, Make in India is a new & emerging competitor to Canadian manufacturing.



 
Post ID: 229526 20-12-15 01:48:14
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Garvo GujaratiMember of Administrators
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Member since: Nov 01




Posts: 3081
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Comparing anything against USD will result in this, and it shouldn't have anything to do with local economy. The USD is very strong and will remain strong in near future.

Canadian's were lucky to have loonie at par with USD for a very long time. And that has caused many issues including loosing out lot of business to Mexico and other countries.


-----------------------------------------------------------------
A Proud Indian Canadian

 
Post ID: 229527 20-12-15 11:31:35
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Contributors:
dhaikin(1)  febpreet(1)  Full House(3)  Garvo Gujarati(1)  gktaurus(1)  hchheda(2)  JRF(1)  
looklook(1)  RBO(1)  vivek901(5)  
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