Another Loonie article

[moisheh]

Here is another comment on the Loonie. Although Economists are just "guessers" there has been talk of oil being $20.00 or less for generations to come. Kind of extreme! One other item I read was that Canada may go to a Bank of Canada negative interest rate. Can you say Argentina? If the loonie is at 60 cents next season will you go south. At that rate an American dollar would cost almost $1.70. WOW!!

Moisheh

[John_Joey]

fla-gypsy wrote:

John&Joey wrote:

fla-gypsy wrote:

joebedford wrote:
If oil goes down to $20, I'm going to start buying.

You sir are a type E

I see it more as a contrarian investment strategy. Pretty smart in my books.

I am certain that buy low and sell high is a winning strategy used by capitalist for centuries

Only problem is when it's at $120 a barrel everyone was screaming it will go to $160 because of China and India's demand. When it's $20 a barrel everyone is screaming it will be like that for years. The glut, the glut. :E

Guess you're right, a contrarian is a type E. Not everyone can tune out the chatter, and use common sense. :B

[fla-gypsy]

John&Joey wrote:

fla-gypsy wrote:

joebedford wrote:
If oil goes down to $20, I'm going to start buying.

You sir are a type E

I see it more as a contrarian investment strategy. Pretty smart in my books.

I am certain that buy low and sell high is a winning strategy used by capitalist for centuries

[John_Joey]

fla-gypsy wrote:

joebedford wrote:
If oil goes down to $20, I'm going to start buying.

You sir are a type E

I see it more as a contrarian investment strategy. Pretty smart in my books.

[fla-gypsy]

joebedford wrote:
If oil goes down to $20, I'm going to start buying.

You sir are a type E

[moisheh]

Well so much for my observation. The dollar went up 1 cent. Oil is up 7 %. Commodities are also up. I am happy to be wrong! At least for now!

Moisheh

[almcc]

Who knows, maybe the cause is all of us in the western world having already bought all the cheap Chinese stuff that we will ever need forcing a retraction of the Chinese manufacturing economy and reducing the need for oil and other commodities, hence the oil glut and Canadian currency performance!

[3oaks]

fla-gypsy wrote:

moisheh wrote:
Even if oil went to say $40.00 the Loonie will still be low. Our economy is terrible and we have a leftist Gov. that the Americans do not like. Our auto industry has moved to Mexico. The manufacturing that is left is mostly low wage. I don't see many companies moving to Canada. Where are people supposed to work? The logging industry that John and Angela mentioned can only provide so many jobs. I am glad that I am not 50 years old looking for work.

Moisheh

A wise and astute observation that is true but also applies to the U.S. to a large degree.

That is for sure!

[joebedford]

If oil goes down to $20, I'm going to start buying.

[John_Joey]

We spent two weeks in London last Summer. The pound was almost 2$ CND.

So coming to the US for the winter is still a bargain. Just not as great as it was during the oil price bubble that so many had started to count on, an even expected.

The bubble was created by speculators talking about China and India's great need for oil, and that it will only continue to grow. Now the speculators are talking about a glut of oil. Sometimes a person just needs to tune out all the chatter, and use some common sense.

If you watch this stuff always in such a short time frame, you'll drive yourself nuts.

[fla-gypsy]

moisheh wrote:
Even if oil went to say $40.00 the Loonie will still be low. Our economy is terrible and we have a leftist Gov. that the Americans do not like. Our auto industry has moved to Mexico. The manufacturing that is left is mostly low wage. I don't see many companies moving to Canada. Where are people supposed to work? The logging industry that John and Angela mentioned can only provide so many jobs. I am glad that I am not 50 years old looking for work.

Moisheh

A wise and astute observation that is true but also applies to the U.S. to a large degree.

[fla-gypsy]

And yet there are many on this very forum who would, and have argued, that the price of fuel is not dictated by S&D, that mythical "Big Oil" controls the world in a greed induced coup. The truth is the American resurgence in the oil market along with(Govt induced)economic malaise here and abroad has created a glut that we are currently benefitting from price wise.

[Trackrig]

timmac wrote:
Just heard on the news today that Russia and Saudi Arabia are freezing out put levels at January levels, means no extra oil will be dumped on the market, dang and gas prices were just getting to $2 a gal here in Vegas and January levels in July might raise the cost of gas again..

Yes, BUT, you have Iran that just shipped it's first tanker of oil to Europe. They want to ramp up to over a million barrels a day. That's more than the Russian / Opec freeze so there's going to be more oil on the market than there is now. While I hope the price of oil goes reasonably higher, I think it will drop lower as more Iranian oil comes on line. And summer is coming resulting in a lot less heating oil being used.

Bill

[joebedford]

Fizz wrote:
We spent two weeks in London last Summer. The pound was almost 2$ CND.
Everything was expensive and it wasn't because of the exchange it was just expensive. A 10$ T-shirt was 10#, twice the price no matter how you counted it. A 5$ beer was 5#.

I've been travelling to England for 40 years. Rule of thumb has always been: "Pay a dollar for it in Canada - pay a pound for it in England".

[Fizz]

We spent two weeks in London last Summer. The pound was almost 2$ CND.
Everything was expensive and it wasn't because of the exchange it was just expensive. A 10$ T-shirt was 10#, twice the price no matter how you counted it. A 5$ beer was 5#.