Nothing Scarier than a Strong Loonie
The Canadian Dollar (aka the Loonie) is now at parity with it’s American Cousin, which means Canadians can spend freely in the U.S. and U.S. products in Canada should come down in price. The converse is Canadian products in the States are going to get more expensive, and less Americans will spend money in Canada, when it might be cheaper to go somewhere else.
Is this going to be the way things are going to stay? You never know, but the last time this happened in 2008, it stayed up for a while, but then the Loonie “… went off it’s meds …” and tumbled back down to below 90 cents in value compared to it’s saner American Dollar.
Useful things to do with a strong Canadian Dollar?
- Buy an NHL franchise, but ask to pay in American Dollars, it’s cheaper. Jim Balsillie, I am talking to you!
- Buy U.S. Index Funds or ETF’s they are cheap (but only if you think the American economy is going to rebound soon)
- Start cross border shopping, but remember to have your passport handy. Is it cheaper now to get an American Cell Phone with a “North American Plan” and use it compared to a Bell or Telus cell phone?
- Start using American Quarters in vending machines in Canada, because you are now saving money (unless prohibited by law, then do nothing of the sort)
- Ask an American friend which is stronger a Loonie or an Eagle? When they reply an Eagle, just smile and nod at them knowingly (it’s not the Canadian way to be boastful, but we are aloud to be smarmy).
- Buy a used car in the States and bring it back to Canada (but make sure you have read all the tariff rules, and whether the warranty is transferable to Canada, this is very important).
- When you cross boarder shop dress up like one of the MacKenzie Brothers, and say “Eh?” a lot, if a shopkeeper makes a remark about your dress, ask them, “Who was it that won the war of 1812 again?”, or ask them if they have read any interesting stories about Laura Secord, but again, in a polite way.
- If you are a Canadian Bank, buy a large American Bank, and then tell their upper execs that their bonuses will no longer be paid in U.S. funds, and when they get excited about them being paid in Canadian Dollars, point out that you meant they will be getting Back Bacon (i.e. Canadian Bacon) instead!
- Start buying American Debt, no point in letting the Chinese hoard all of those great savings vehicles
- Build a giant wall along our border to stop American Frostbacks from illegally entering Canada to get jobs. Hire Mexicans to build the wall, because they would appreciate the Irony.
- Point out to our American Friends that a sock full of Loonies and Two-nies is much more dangerous than a sock full of Yankee Dollar bills.
- Go to an American Medical Clinic and have a wart removed, and when you pay, say you’ll be sending more Canadians down soon, so don’t worry about Obama’s Nazi socialized Medicine, Canadians will pick up the slack.
The loonie is mighty but please remember you are Canadian, so don’t get all showy about it, but you can be as Smug as you wish.
Any other things Canadians can now do with our mighty loonie?