Okay folks this high Canadian dollar is bad and I mean really bad news. A high dollar may mean that we can all go shopping in the U.S. but it also means that the Canadian economy is going to suffer because our competitive edge has been lost. Why buy Canadian goods and services if they are the same price or more expensive than other countries?
I know that some local manufacturers have cut their work weeks and laid off employees. These people are going to have less money to spend and those in the service industries will also suffer. It is a domino effect to all areas of the economy. So stop cheering for a high dollar and pray for something in the 75 to 80 cent range in comparison to the American greenback.
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