great depression incoming or nah ? (canada)

[Midnitewarrior4]

well boys and girls of Canada our dollar is at its lowest point in over 10 years and its aint stopping, oil just dropped, sure thast means good gas prices for the people up north such as my self, but for people in alberta and the oil feilds it now means your probably gonna be without a job soon if you arent already.... now put on your tinfoil hats and discuss what you think will happen to our dollar ? and im not talking pure politics here just to get that straight

 

personally i think its gonna keep dropping until great depression sized recession, then eventually come up, but not before alot has changed

 

http://www.xe.com/currencycharts/?from=CAD&to=USD&view=5Y

[ZetZet]

Canada is far too big to worry about it.

 

And still not as bad as Russia.

http://www.xe.com/currencycharts/?from=RUB&to=USD&view=5Y

[Lotus]

If you're dependent on exports to countries manufacturing oil, or are yourself manufacturing oil, you're fucked.

 

If not, you're only kinda fucked because this is a global economy and you're still connected to those countries no matter how indirectly.

 

Honestly, I'd be more concerned with China's financial difficulties than Saudi Arabia's.

[Midnitewarrior4]

Canada is far too big to worry about it.

 

And still not as bad as Russia.

its still a big change from going from 1.05 in 2011 to 0.68 today..

[The Cool n00B]

This isn't technically true

 

http://www.xe.com/currencycharts/?from=CAD&to=EUR&view=10Y

 

It's all about the comparison currency.

[Midnitewarrior4]

If you're dependent on exports to countries manufacturing oil, or are yourself manufacturing oil, you're fucked.

 

If not, you're only kinda fucked because this is a global economy and you're still connected to those countries no matter how indirectly.

 

Honestly, I'd be more concerned with China's financial difficulties than Saudi Arabia's.

well thats what im saying for some parts of canada that rely on oil such as alberta

[Tedster]

its still a big change from going from 1.05 in 2011 to 0.68 today..

Yeah, I looked up the dollar to rupee graph today and was surprised.

[thekeemo]

If you're dependent on exports to countries manufacturing oil, or are yourself manufacturing oil, you're fucked.

 

If not, you're only kinda fucked because this is a global economy and you're still connected to those countries no matter how indirectly.

 

Honestly, I'd be more concerned with China's financial difficulties than Saudi Arabia's.

Saudi arabia is fucking itself over right now with the privatization

[ZetZet]

its still a big change from going from 1.05 in 2011 to 0.68 today..

Look at Euro. 

 

USD just increased in power.

[Midnitewarrior4]

Look at Euro. 

 

USD just increased in power.

even in euro its going down, compared to almost all currencies ive seen so far its been on a decline, and most of canada`s relations are with the usa

[ZetZet]

even in euro its going down, compared to almost all currencies ive seen so far its been on a decline, and most of canada`s relations are with the usa

No. 

 

EUR/CAD/AUD are all basically the same as always if you compare them. USD just rose up. 

 

The only currency that completely tanked was Russian Ruble. Russia's GDP fell like 50%.

[thekeemo]

Living in Alberta I am witnessing first hand the effects.

Layoffs everywhere and everyone is downsizing.

People are selling their home everyone.

[Midnitewarrior4]

No. 

 

EUR/CAD/AUD are all basically the same as always if you compare them. USD just rose up. 

 

The only currency that completely tanked was Russian Ruble. Russia's GDP fell like 50%.

definetly staying stable..... http://www.xe.com/currencycharts/?from=CAD&to=EUR&view=1M

[ZetZet]

definetly staying stable..... http://www.xe.com/currencycharts/?from=CAD&to=EUR&view=1M

Yeah, but that's like nothing. After all oil prices really did fall a ton.

[Midnitewarrior4]

Living in Alberta I am witnessing first hand the effects.

Layoffs everywhere and everyone is downsizing.

People are selling their home everyone.

exactly what im trying to point out, it sucks, and oil is down so low, my town literally relies on mining, and their starting to stock pile which is not good.... basically what happened with oil, my fear is mining is the next to go

[silentmelodies]

Canada is far too big to worry about it.

 

And still not as bad as Russia.

http://www.xe.com/currencycharts/?from=RUB&to=USD&view=5Y

Could you explain what the graph means now? A RUB is worth MORE over time?

I just switched the currencies.

[ZetZet]

Could you explain what the graph means now? A RUB is worth MORE over time?

I just switched the currencies.

 

It says you can buy 75+ rubles for one dollar. It's worth less and less.

[Midnitewarrior4]

Could you explain what the graph means now? A RUB is worth MORE over time?

I just switched the currencies.

 

thats saying how many rub for 1 usd, but if you did it reverse in would be the oposite

[Guest]

Living in Alberta I am witnessing first hand the effects.

Layoffs everywhere and everyone is downsizing.

People are selling their home everyone.

It sucks eh

[ZetZet]

exactly what im trying to point out, it sucks, and oil is down so low, my town literally relies on mining, and their starting to stock pile which is not good.... basically what happened with oil, my fear is mining is the next to go

relax. Like I said, Canada is far too big and stable of a country to go into depression.

 

Just make weed legal, you will survive on tourists alone.

[Midnitewarrior4]

It sucks eh

happened here a couple years back when the miners went on strike, everything was getting sold

[thekeemo]

It sucks eh

My "boss" is selling his house so he can be "mobile"

[Midnitewarrior4]

relax. Like I said, Canada is far too big and stable of a country to go into depression.

 

Just make weed legal, you will survive on tourists alone.

i think it would be best just for them to visit the usa, there prices would be lower due to the dollar

[Midnitewarrior4]

My "boss" is selling his house so he can be "mobile"

yup.... do you happen to work for an oil related business or are you one of the "lucky few" i really hate to say that but i guess having a job is better then working in the oil feilds and knowing that any minute your boss can call you into their office and send you home...

[ZetZet]

i think it would be best just for them to visit the usa, there prices would be lower due to the dollar

what? no lol. Your prices will be lower for tourists because your currency is weak. USD is the most expensive currency at the moment. 

 

Norway has it right.  They get their own oil from the North sea.

Norway has the largest wealth fund on the planet and they aren't actually even selling oil at the moment, just not worth it at this price. 

 

 

https://www.aei.org/publication/norways-oil-fund-more-than-just-a-piggy-bank/

 

They basically have so much money they don't give a single fuck what's happening on this planet anymore. 

At least for couple of generations.