I am guessing you are looking forward for an answer in this post. I’m sorry, but you won’t find one. Unfortunately, I myself am looking for an answer… I am frustrated at the fact that we are currently paying too much for imported goods. The recent surge of the Canadian dollar should reflect on the prices we pay for imported products. The savings from a high dollar versus other currencies should ultimately be passed on to the consumers; in other words, prices need to be adjusted lower.
Top 3 reasons to why the savings should be forwarded to the consumers:
- I enjoy buying things when they are cheap
- Canadians might start shopping in the United States, where savings can reach 40 per cent.
- I really enjoy buying things when they are cheap
All jokes aside, this is an important issue for the Canadian economy, and should be dealt with accordingly. These currency imbalances could seriously hurt the economy, among the build-up of reserves in China and the credit crunch stemming from the sub-prime mortgage meltdown in the U.S.
Please respond to our poll this week: Do you think the Canadian Dollar will soon hit parity with the U.S. dollar?
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