Thanks for the Short Position on the US Dollar

Oh my god, this hasn't happened since, since,
... um, 2008. It's the end of the world, I tell ya!

Watching Barry "manage" the American economy is like watching a slow motion train wreck.

If the US keeps running massive deficits the dollar will go thru the floor—and take us with them.

Fred,

Obama isnt doing anything. He is obsessed with Health care he isnt doing anything else.

Absolutely misplaced priorities, and misplaced methods. He thinks he is this close to passing it, his presidency is this close to imploding. He may be gone before 2012.....I can see him tossing in the towel if Health care fails to pass.

Ladies and Gentleman....President Biden....sad to say, its probably an improvement

the community organizer finds out what an executive position is all about. he is like a horse with a twitch, he can only concentrate on one thing.

with a built in 18% vote on a narrowly contested office it will take a fair push to oust him. he may call it quits, he really hasnt ever fought for much. all yak and no track.

Cal2 at 8:03 said: he is like a horse with a twitch, he can only concentrate on one thing.

That is SO funny! I'm afraid most people will miss the humour.

I said when he was elected, the junkyard dog caught the Oldsmobile. Just like the dog, Obama had no thought what to do after he won. As a narcissist, he can't imagine not succeeding in anything he does. The bad part is he doesn't know when to quit. The good part is he doesn't know how to compromise either.

Funnily enough, Joe Biden will make a good interim President, all he knows is to compromise.

humour

its no joke!!!
the guy is an oxygen thief

Captain, I don't know if you have actually spent much time in Canada, but for us there's a simple direct way to explain the Obama problem -- this is basically like having the NDP in power in Washington, DC. They might have inherited a bad situation, but there's no way things can get better as long as they're in there. Normally jobs are always being created and being destroyed, but with this type of government jobs only get destroyed.

Just as with the NDP, it's obvious that the Obama operation is not going to improve. The no-brainer moves that could improve the situation are not going to be on the table. You mentioned mining and offshore drilling, which would both put a lot of people to work, but there are some more easy ones, like ending the H1B program, declaring a tax holiday for employer FICA costs, tightening up the Mexican border .... none of which are going to happen.

Fred, it is a slo-mo train wreck. But, give Barry O a brake (NOT).

The US government, controlled by socialists and communists, are running out of money to splash around. It has three options:

1) Stop splashing money around
2) Increase income - higher taxes
3) Inflation to reduce the real value of debt.

Now, (1) is unpopular with its supporters; (2) is unpopular with its reluctant supporters (Joe taxpayer). (3) makes the savings of the "rich" worthless, but does reduce the financial burden on government and avoids obvious tax increases. Hey, The Rich suffer! That's a call to socialist justice, no?

Captain, haven't grasped that Barry isn't trying to fix the economy. He's trying to BREAK it. On purpose.

The Dems hate America. They want to finally, once and for all kill what's left of Capitalism and create a nice coercive Euro-style socialist/fascist command economy.

Kinda like what we have here in Canada masquerading as a free capitalist system. Don't know if you've ever noticed this, but companies don't get big here. Companies start here, stagnate and then move to the USA before they get big. Unless they have friends in the Liberal party, and are run by freakin' genius political schmoozers to boot. Like RIM.

Big companies come here and buy in. We're a branch-plant economy for big US and European outfits who want a piece of what's in the ground.

Check out the Canadian steel industry. Stelco and Dofasco were BIG Canadian companies. Stelco faltered, fell, and finally the wreckage got bought up by US Steel. Dofasco prospered and was bought up by Arcelor-Mittal.

Currently, both plants are SHUT because the Chicoms can land finished steel on the Hamilton dock cheaper than US Steel or A-M can make it here.

Which you must admit is pretty interesting, given that the Iron ore they make that steel out of comes from Canada. Funny how that works, eh?

Vitruvius, I think it's happening now for very different reasons. Then it was primarily because of the commodities / oil and gas sectors on fire here. Now it's because their economic house is burning down.
Captian, I wish you didn't have the google commenting form, I think it sucks, unless you've recently changed it.

A good buddy of mine owns a manufacturing business in Ontario. He is very pissed about the high Canadian dollar. Blames it on Harper....

After one long and tiresome discussion I got him to understand that the problem is not that the government is meddling ... rather that they are not and things are finding the natural level.

Leaving interest rate fiddles out of the economic landscape is a good thing. His problem is the US addiction to cheap everything. I'm sorry to say there is little to be done about that.

CJ -- interesting comment, as I was musing the other day how the current Obama administration reminds me of the 1996-2000 Glen Clark NDP government here in BC. While the rest of the country came out of recession nicely beginning around 1998, Clark and his party essentially extended the recession in BC by an additional two to three years.

OMMAG, you should tell your friend to speak with his commercial banker. If he isn't already, he should be hedging his foreign exchange risk by locking in a set exchange rate for a set period of time.

It would have been better to have done this a year ago, when the CDN$ was around 80 cents. But, a discussion with his banker is probably in order in any event.

cal2 could be right....OBOZO could bale but I think a more likely scenario is that his entourage, such as Rahm would allow it and in a foolish, desperate attempt to maintain power will do something stupid......think Fort Sumpter or the shot at Concorde.
But then that clown party is aware of the consequences and paranoid......OBOZO will opt to bale rather than elect the second scenario.
He's all hat and no cattle....

Colin.

I remember how the NDP bankrupted the province. I recall driving through the Shushwaps down Hwy 93 and thought it looked like a 3rd world slum!

Things improved a lot once you guys finally had enough sense to toss them out. Now if only Manitoba would do the same ....

I think the Obamanintor will wake up one night see the big Michelle booty lying there, think , this is supposed to be the best job in the world but I cant keep a single promise ......
well shut ma mouth and skid my rig , Im pensioned and I am free. Im outta here.

The Republicans have found their nuts; they will fight Health Care in the Senate..The 41 Republican Senators sent a letter to Reid that all the rules of reconciliation will NOT be waived. YES THEY ARE SAYING NO!

The Nancy P/Obama bill will not get all the amendments passed in the Senate....I would guess those that vote in the House will be committing Suicide for nothing.

The Health Care was just an excuse to pass the Cap & trade Bill anyway. They counted revenue from Cap & Trade and would have used that as a social issue in September

Will the Market go up, or down?

Actually the only way out of this spiral into oblivion is to cut taxes and cut spending.

The American people the most industrious, innovative, and productive people on the planet.

They created the wealth in the first place now they will have to save the country and maybe the world.

Raise taxes take the money out of the hands of the productive those that create wealth and this thing is gonna hit a wall so hard that the nuclear winter may last decades.

A few days ago we sorted through a bucket of loose change we had collected for over a year. We rolled up all the coins.

Some of the coins were Canadian. Unlike a few years ago, the bank didn't complain.

The dollar here in Canada is not gaining strength - the US buck is tanking because printing money isn't the same as earning it (unless you can get away with the counterfeit angle). It's all relative.

My parents have a place in FLA and are Obama supporters no matter what I say or suggest. I was there 2 weeks ago and suggested they divested ASAP because the fall (no pun intended) would be brutal.

They did the old fart pshaww thing and dismissed my opinion. According to them, Obama inherited a Bush issue, health care would be wonderful and the U.S. could never possibly fail. Thank you MSM (for them MSNBC and CNN - Fox News is taboo there)

The only bright spot of my political observance today was the reference to the 'Legacy Media' as opposed to the MSM. Clued my 20 yr-old daughter into that earlier tonite.

Mission accomplished for Mar 10. (okay, Mar 11)

Obama is ALL in. Health Care IS the vehicle to total control of the US. He will not let it go.
They need to impeach him and his whole gaggle of henchmen and czars. Rahm and Michelle.
If they don't defeat this administration someway , somehow it will be over.
The country will not be communist as some say and think it will be Islamic.

The Canadian economy has been subsidized for too long on an artificially devalued Canadian dollar. Now the field is leveled somewhat and American goods will be less expensive for Canadians, and Canadian exports to the US will be more expensive for Americans thereby bolstering our own American manufacturers.

Is Obama really a Greek in disguise?

How unlikely is a mass emigration from the US to Canada in search of reasonable health care and more importantly employment?

Could a population boom protect Canada from a debt ridden USA?

Really, some people here need to broaden their reading. The US dollar is not tanking - in the past year, the US Dollar Index, which trades on the commodity exchanges, has advanced from 70 to 80 in the past year, an approximate 15% rise. The euro is sliding, as is sterling. The major currencies that have shown strength are the loonie, the Aussie dollar, and the Kiwi dollar. In the hands of foreign exchange (forex) traders, these three are considered "commodity currencies", and hence will probably rebound from the current slump faster than the European area or the US. Forex guys also like the fact that all three are British style democracies, with well defined markets and the rule of law, so there's no fear that, say, a Hugo Chavez will suddenly freeze convertibility or confiscate assets.

Just a month ago, the C$ was 1.46 per Euro; now it's $1.40. That's a huge move in just 30 days.

People have often decried Canadians for being "hewers of wood and drawers of water". Doesn't look so bad on us now, does it?