I find this interesting. Canada's dollar drop is a simple result of the downturn in the commodities market (Oil primarilly).
The downturn is being caused by everyone around the world canceling or postponing their large projects due to the hesitation in the US market (thanks to the credit debacle). Basically the demand for Canadian resources had dropped, taking our dollar with it.
Fair enough.
Thing is, once the US election is decided(either way really), all these companies/organizations that have stopped development for now will have a better sense of where things are going and will return to their developments. The demand for resources will return and the Canadian dollar will jump back to where it should be.
By this time next year, we will be doing just fine. Unless I'm somehow missing the basics of the Canadian economy somewhere....
This just goes to show everyone just how stupid it is to base a first world nations economy on resources. Canada needs to start investing it's resource wealth into itself rather then continuing to fuel the development of other nations.
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