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Sep 17, 07
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Canadian dollar going up up and away!!!
Just thought I'd give you guys a heads up, especially those who purchase items online and out of the country. Tommorow and the few up and coming days there is a great chance that the dollar will end at 98 cents... almost close to 99 cents. Right now people in the u.k are going absolutely crazy considering that the fact that one of the major banks has simply "ran out of money". The canadian economy continues to rise however and there appears to be no letting up!
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Sep 17, 07
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Sep 17, 07
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Sep 17, 07
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First of all, the people of this nation who have been living under rocks appreciate the heads up on the news regarding the strength of our dollar. (Or, more accurately, the weakness of the US dollar).
Secondly, if the US and UK economies tank, there will indeed be some "letting up" on our economy. How much is up for debate. Panic? Queue here | | Guardian Unlimited Business ^ Here's a reeeally good article that is informative and insightful in a way your post um... wasn't. |
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Sep 17, 07
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I don't understand how these institutions can push these unrealistic mortgages on people who have unrealistic ideas about the world and it not have a bad effect.
They say this UK incident started because US banks could not lend money to the UK bank because of recent problems with subprime mortgages and so they had to get an emergency loan from the UK bank prompting people to worry. If banks keep pushing these mortgages how can it not collapse on itself? Maybe Sean can come in here and explain it to us. As for Canada, they say this rise in the dollar is do to the high price of commodities and it could actually be bad for our manufacturing industry. Greenspan has come out hard this week against Bush's spending and is predicting a recession of which i'm sure will effect us. |
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Sep 17, 07
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What's amazing to me is that any economy based on any kind of sane, rational principles could have lenders FALLING OVER THEMSELVES to offer mortgages to clients they KNOW are unlikely to be fiscally responsible, or at least fiscally secure enough that you could expect them to be able to cover in the long run.
I mean how does that make any sense?? Shouldn't you want to see money back (+ profit) if you're going to lend it? Just another symptom of a bloody unhealthy economic environment. From dot.coms, to Enrons, to sub prime mortgages... the lunatics are running the asylum. |
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Sep 17, 07
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 canada is going to get body-slammed! |
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Sep 18, 07
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...since sean studies banking and knows alot more about it then i do perhaps he could provide some good,insider, info on the subject and to what we have been seeing in the media. anyways i live to travel. so as far as im concernd the dollar can keep going and going up.... Last edited by Revolver; Sep 18, 07 at 07:44 AM. |
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Sep 18, 07
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On a more fun note..
Im taking my paycheque and seattle by storm! |
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Sep 18, 07
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:P I understand where you're going with that though Kraig, it saves me and my company a fair bit of money when making deals as well. |
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Sep 18, 07
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Last edited by NinjaBoy; Sep 18, 07 at 12:16 PM. |
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Sep 18, 07
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its because the lenders making those loans didnt think that they would have to deal with the default risk because they would sell all their asset back debt to third parties who would either chop up the different components of the debt and sell them iff to hedge/pe funds and other large investors. or the hedge funds would by them and try to hedge the risk of the debt, its just that they misjudged their positions and got burnt. this type of stuff happens every few years in the states, its when greed overwhelms reason. the real fun happens when all those adjustible rate mortgages reset and it becomes socially acceptible to walkaway from your mortgage rather then pay it. Last edited by SEAN!; Sep 18, 07 at 02:06 PM. |
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Sep 18, 07
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it has more to do with the fact that the federal reserve is often too hesitant to step in and moderate the economy even when faced with insane asset price bubbles and the financial risks associated with them. p.s i honestly doubt bush has the capability to even understand whats going on, much less manipulate it. Last edited by SEAN!; Sep 18, 07 at 02:15 PM. |
