Canadian Dollar is falling fast

The dollar is down to 83 cents and change as of 3pm...Seeing as the last time it was this low the Cap was about 15 million lower, one has to wonder how it will affect the canadian teams.

Dawg's Wife wrote:The dollar is down to 83 cents and change as of 3pm...Seeing as the last time it was this low the Cap was about 15 million lower, one has to wonder how it will affect the canadian teams.

I was mentioning this over on another thread. A drop of 17% on 30% of your revenue, isn't it? Or was that 30% of the profit? Big difference, I realize, but either way you slice it, this will cut into the players' 55%.

There will most likely be a rebound. I doubt it drops this low and stays there, once the markets work themselves out a bit over the next couple of months we should see the dollar bounce back a bit.

PKC wrote:There will most likely be a rebound. I doubt it drops this low and stays there, once the markets work themselves out a bit over the next couple of months we should see the dollar bounce back a bit.

GS just downgraded oil to $70 by year-end (down from $115). They also lowered the 2009 targets significantly ($86 from $123 for the 2009-average, and $107 from $125 for 2009 year-end). Those numbers are based on expected consumption continuing to be low, driving prices down. All that to say that they are not expecting any miraculous recovery in the economy (worldwide, not just US) any time soon. And if that's not enough doom and gloom, the US "National Debt Clock" just had to be "hacked" to add an extra digit as they overflowed the 10-trillion dollar limit.

Brace yourselves, this one will take a bit of time to work itself out.

wprager wrote:

PKC wrote:There will most likely be a rebound. I doubt it drops this low and stays there, once the markets work themselves out a bit over the next couple of months we should see the dollar bounce back a bit.

GS just downgraded oil to $70 by year-end (down from $115). They also lowered the 2009 targets significantly ($86 from $123 for the 2009-average, and $107 from $125 for 2009 year-end). Those numbers are based on expected consumption continuing to be low, driving prices down. All that to say that they are not expecting any miraculous recovery in the economy (worldwide, not just US) any time soon. And if that's not enough doom and gloom, the US "National Debt Clock" just had to be "hacked" to add an extra digit as they overflowed the 10-trillion dollar limit.

Brace yourselves, this one will take a bit of time to work itself out.

I have no faith in any of the federal politicians running. Dion thinks we have an unlimited amount of money, Layton doesn't seem to have much foreign experience, and Harper hasn't done much to save us.