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Posted by MoparNorm on Saturday, January 05, 2008 at 13:49:17 :
In Reply to: Re: value of the dollar? posted by Joe Cimoch on Saturday, January 05, 2008 at 09:32:17 :
Joe,
with the US dollar dropping in value against the Canadian dollar, the Canadian dollar has more buying power when they buy US products. If a Ram costs $30,000 here a Canadian can buy it for $26,000 in Canadian dollars. Dodge still makes $30,000 USD when they convert the currency back to Dollars, so it is a great time to be an American Exporter.
The hope is this will stem the tide of cheap junk imports and put American Industry and workers on an equal footing with the rest of the world.
So far china has artificially held down their currency to keep their goods cheap over here, but they can only do that for so long without harming their own economy.
So let's hope they go bankrupt and we get back some lost industrial capacity that we sorely need. We can't afford to have everyone working at Mickey D's.