So Much for My Canadian Vacation...

[SpazBear]

The Loonie is worth more than a Greenback? Ye Gods! I was looking to vacation in Banff this October; now I'll likely end up in Colorado.

What is the world coming to?

[DeeBye]

You should go to Banff anyways. It's worth it.

[Quark]

You should go to Banff anyways. It's worth it.

Are we talking for skiing or other things? If you're talking about the skiing, it might just get put on my list of future destinations.

[Lissa]

Are we talking for skiing or other things? If you're talking about the skiing, it might just get put on my list of future destinations.

For skiing Quark, go to Lake Louise. It's in the vicinity of Banff and you're in the Canadian Rockies, so some of the best skiing you'll find.

[DeeBye]

Are we talking for skiing or other things? If you're talking about the skiing, it might just get put on my list of future destinations.

It's worth it just for the scenery. Do a Google Image search for Banff and I'm sure you'll agree.

[eppie]

The Loonie is worth more than a Greenback?
What is the world coming to?

There are many more things worth more than the greenback today. Let's see what happens tomorrow when the US housemarket details will be published. For us it is a nice thing when we are on holiday (most things like clothes, electronics etc. now are almost 50 % cheaper in the US than they are in europe), but it is of course a quite disturbing situation.

Main cause is in my opinion the fact that people borrow money to easily and don't think about the consequences. I just hope an economic crisis can be avoided.

[Munkay]

Main cause is in my opinion the fact that people borrow money to easily and don't think about the consequences. I just hope an economic crisis can be avoided.

Internationally, there are a lot of other big factors that determine the value of the US dollar.

But as far as on the homefront, the 'culture of debt' is very disturbing. We've been holding it together for a while, but the surge in sub-prime variable interest rate mortgages over the last 5ish years may be a tipping point in our economic boon.

A friend of our family told us how his sister, just bought a $650,000 house. She makes 30,000 a year, and her husband is currently unemployed:wacko:

Of course, everyone told her not to do it, and warned her, but the allure of a big house and a feeling of entitlement drove her down a very very bad path. One too many Americans are going down.

Cheers,

Munk

[eppie]

Internationally, there are a lot of other big factors that determine the value of the US dollar.

Well actually....not much. I regularly read a bit about these things, and things don't look very positive I must say.
Apprantly Bernanke also doesn't realy know what he is doing (or his .5 % interest rate decrease on a moment where the dow jones and nasdaq are sky high might in some way turn out to be a miracle plan).
It seems that he is trying to save the hedge funds and banks that invest with loaned money with as direct results that the dollar plunges. If this continues this might have very harsh consequences for (first) the american people. And those consequenses will go further than not going on holiday to Canada.

It would be interesting to hear the ideas from some lurkers that are familiar with economics, instead of me just writing down what I read elsewhere. Because it goes without saying that it would be nice to know what to do with your money before we get a crash.

[q4m]

...but the allure of a big house and a feeling of entitlement drove her down a very very bad path. One too many Americans are going down.

I am not an economist by any stretch of the imagination, but it seems to me like we (the US) have a very, very big issue with debt. Debt is being marketed as wealth here and people are believing it. Generally it seems people live far above their means. I just can't see that as not having some bad consequence in the future.

[Munkay]

I am not an economist by any stretch of the imagination, but it seems to me like we (the US) have a very, very big issue with debt. Debt is being marketed as wealth here and people are believing it. Generally it seems people live far above their means. I just can't see that as not having some bad consequence in the future.

I remember reading a few months back that for every 100$ an American makes, they spend $100.80 dollars. Now, I'm sure 'facts' like this have a big +/- variance, but its still a startling idea. Scary stuff indeed.

Just last night I turned on the TV and a couple was looking to sell their Orlando home. They had 1900 square feet (a very decent sized house for sure), but they were looking to put it on the market for $700,000+. Nice house or not, when an economy supports an average income of 35-50k (depending on what research you believe), an average size home can't be going for 700k+ and the economy still be stable and healthy.

Cheers,

Munk

PS. Please feel free to tell me I'm being naive, but unfortunately I don't think I am.

[SpazBear]

Internationally, there are a lot of other big factors that determine the value of the US dollar.

But as far as on the homefront, the 'culture of debt' is very disturbing. We've been holding it together for a while, but the surge in sub-prime variable interest rate mortgages over the last 5ish years may be a tipping point in our economic boon.

A friend of our family told us how his sister, just bought a $650,000 house. She makes 30,000 a year, and her husband is currently unemployed:wacko:

Of course, everyone told her not to do it, and warned her, but the allure of a big house and a feeling of entitlement drove her down a very very bad path. One too many Americans are going down.

Cheers,

Munk

You'd think they would've seen it coming....

Funny, sorta.

[Jester]

I am not an economist by any stretch of the imagination, but it seems to me like we (the US) have a very, very big issue with debt. Debt is being marketed as wealth here and people are believing it. Generally it seems people live far above their means. I just can't see that as not having some bad consequence in the future.

There would be less of a problem if the dramatic increase in private debt was being balanced by prudent saving on the part of government.

Unfortunately, it is being accompanied by one of the most wastrel governments in the history of your country, and the public debt is growing by staggering margins.

-Jester

[Munkay]

Unfortunately, it is being accompanied by one of the most wastrel governments in the history of your country, and the public debt is growing by staggering margins.
-Jester

Pfft, mountains out of molehill Jester. It's only a few trillion. And what's a few trillion dollars? Barely enough to rub two coins together.

...

:unsure:

Cheers,

Munk

[SpazBear]

You should go to Banff anyways. It's worth it.

Maybe SomeDay...Not with the exchange rate where it is, and the Canadian Government cut ("We put a tax on ev'rything, and pay with two-tonne coins...")

So tomorrow I load up the family in the minivan and head off to Estes Park, CO, to spend a week in and around Rocky Mountain National Park

I never seen a greenback cut-throat trout, but hope to catch (& release) a few...