Loonie's surge may hurt federal revenues

[TrogL]

http://209.47.1.199/infomart/20031009/1/20031009.001.53.html

OTTAWA -- The meteoric rise in Canada's dollar threatens the country's economic growth and possibly even the state of the federal budget, Finance Minister John Manley warned Wednesday.

In fact, if the loonie continues to soar unchecked, it could push the entire economy into recession, a labour economist added separately.

The dollar gained almost half a cent Tuesday to close trading at 75.10 cents US -- more than 18 per cent higher than where the loonie began the year.

Freeper-types here in Canada blame a low loonie on the Liberal government and see it as a bad thing.

What I think the real problem is, is the greenback crashing. I'd like to see a comparison of the loonie against other currencies, especially the Euro.

[LeftCoast]

1. US Dollar is dropping against most major currencies

AFAIK anyway...

The Bush team has been playing a dangerous game of "Weak $ Economics" since they got in to office. It might work, but then, we all know that everything they touch turns to shit - call it the reverse Midas Touch.

[rogerashton]

2. You can get the current conversion at

http://www.xe.com/ucc/