Mid Range Posted September 20, 2007 Report Share Posted September 20, 2007 http://www.cbc.ca/money/story/2007/09/20/c...tml#skip300x250 The Canadian dollar reached parity with the U.S. greenback on Thursday for the first time since November 1976. The loonie briefly reached $1.0003 US on foreign exchange markets shortly before 11 a.m. ET, the Bank of Canada said. The loonie's stint at parity was brief, however, as it later slipped back to just under $1 US. Some financial data providers reported that the loonie had reached parity shortly after 9 a.m. ET. But the Bank of Canada said the data its trading room was looking at did not show parity at that time. "Currency trading is an over-the-counter market," a Bank of Canada spokesperson told CBCNews.ca. "It's not like the TSX." So there can be small discrepancies depending on the trades the data source monitors. At any rate, all data sources are now showing that the Canadian dollar did reach parity. U.S. dollar falters The dollar's latest rise comes as the U.S. dollar falters against major currencies and commodity prices continue to gain strength. Quote Link to comment Share on other sites More sharing options...
rob Posted September 20, 2007 Report Share Posted September 20, 2007 I expected this by winter, but not by mid-september.. I'm concerned how low it will go. Damn... Quote Link to comment Share on other sites More sharing options...
NHTOM Posted September 21, 2007 Report Share Posted September 21, 2007 I expected this by winter, but not by mid-september.. I'm concerned how low it will go. Damn... Yeah its not good news for Americans riding in Quebec thats for sure. The real strange part is that despite the Canadian dollar going up 40% in the last 3 years, everything in Quebec still costs 25-30% more than the states. One would think since the $Can. dollar has gained so much, Canadians would be paying less. I just dont get it. Quote Link to comment Share on other sites More sharing options...
Mid Range Posted September 21, 2007 Author Report Share Posted September 21, 2007 The real strange part is that despite the Canadian dollar going up 40% in the last 3 years, everything in Quebec still costs 25-30% more than the states. One would think since the $Can. dollar has gained so much, Canadians would be paying less. I just dont get it. I know.It is the talk of the town.We are getting ripped off up here.I was reading something over the web lately.We won't see any difference for us canadian consumers anytime soon.Try to figure it out. Quote Link to comment Share on other sites More sharing options...
plain-rev Posted September 21, 2007 Report Share Posted September 21, 2007 I sure miss the exchange rates of the early and mid eighties.I was purchasing sleds at a pretty fair discount.Back then I would hear it's too expensive to travel in the states , now the equal dollar hurts the candian economy because there is less incentive for american companies . Can't win I guess. btw I recently got my ski-doo accessories catalog and the U.S./CDN. exchange seemed a little unfair. :( Quote Link to comment Share on other sites More sharing options...
Mid Range Posted September 21, 2007 Author Report Share Posted September 21, 2007 Yeah its not good news for Americans riding in Quebec thats for sure. The real strange part is that despite the Canadian dollar going up 40% in the last 3 years, everything in Quebec still costs 25-30% more than the states. One would think since the $Can. dollar has gained so much, Canadians would be paying less. I just dont get it. Just an example here of the ripp-off!!!! 2008 RS Vector $12,199 CAN $9,299 US difference 2900 dollars. Any economist overhere who can explain me why we pay more.BRP are made in Québec and we pay more than Americans!!!! Quote Link to comment Share on other sites More sharing options...
doobraap Posted September 21, 2007 Report Share Posted September 21, 2007 Just an example here of the ripp-off!!!! 2008 RS Vector $12,199 CAN $9,299 US difference 2900 dollars. Any economist overhere who can explain me why we pay more.BRP are made in Québec and we pay more than Americans!!!! Is it a tax issue? Do you pay a seperate tax or is it built in to the price? Here in the states the MSRP does not include and local state tax. Quote Link to comment Share on other sites More sharing options...
Mid Range Posted September 21, 2007 Author Report Share Posted September 21, 2007 Is it a tax issue? Do you pay a seperate tax or is it built in to the price? Here in the states the MSRP does not include and local state tax. taxes are not included. GST(good and services tax) 6% PST(Provincial sale tax) 7.5% (in Québec) Quote Link to comment Share on other sites More sharing options...
nowa Posted September 22, 2007 Report Share Posted September 22, 2007 WOW, 13.5% tax on top of a higher sale price. Quote Link to comment Share on other sites More sharing options...
BERNARD Posted September 23, 2007 Report Share Posted September 23, 2007 Just an example here of the ripp-off!!!! 2008 RS Vector $12,199 CAN $9,299 US difference 2900 dollars. Any economist overhere who can explain me why we pay more.BRP are made in Québec and we pay more than Americans!!!! Back when the exchange rate was 48% The American ridders where buying there sleds in Canada, and the American Dealers started crying to Bombardier, and they put up the price of a sled by $3000 dollars. Thats why we have more Quads. Bombardier dont give a shit, They also sell Quads. I guess they forgot to bring the price of sleds down. We also pay 54% tax on our Pay check. We pay our food at least 20% more, and our gas price is bullshit. Crazy we have more oil in Alberta than any where else in the world, If thats not a rip off. Quote Link to comment Share on other sites More sharing options...
Early Rider Posted September 23, 2007 Report Share Posted September 23, 2007 Strong canadian dollar will hurt the snowmobile tourism in Canada for sure there is no way around that. Helping us sell or goods here in Maine however two of my used sleds are headed over the border ER Quote Link to comment Share on other sites More sharing options...
Shane Posted September 25, 2007 Report Share Posted September 25, 2007 Without getting into a disertation, suffice it to say that several factors are at work. Things are more expensive in Canada primarily because of socialism. Please do not take this as a knock on Canada. Some of my best friends are from north of the border. Simply stated ther eis no free lunch and when the government gets a taste of the tax revenues they are not going to let them go. Quote Link to comment Share on other sites More sharing options...
Mid Range Posted September 25, 2007 Author Report Share Posted September 25, 2007 and when the government gets a taste of the tax revenues they are not going to let them go. You are god damn right!!!!!!! they can suck you dry!!!!.Here in Québec we are the most taxed people in North America. Quote Link to comment Share on other sites More sharing options...
rob Posted September 25, 2007 Report Share Posted September 25, 2007 Without getting into a disertation, suffice it to say that several factors are at work. Things are more expensive in Canada primarily because of socialism. Please do not take this as a knock on Canada. Some of my best friends are from north of the border. Simply stated ther eis no free lunch and when the government gets a taste of the tax revenues they are not going to let them go. As the subject of this post implies, the main reason it is more expensive for US residents to visit Canada now (as compared to a few years ago) is because of the falling US dollar. And the main reason behind the US dollar falling is US fiscal policy. The recent rate cut from the Fed further pulled the rug out from under the US dollar. Economics 101. Quote Link to comment Share on other sites More sharing options...
Shane Posted September 27, 2007 Report Share Posted September 27, 2007 As the subject of this post implies, the main reason it is more expensive for US residents to visit Canada now (as compared to a few years ago) is because of the falling US dollar. And the main reason behind the US dollar falling is US fiscal policy. The recent rate cut from the Fed further pulled the rug out from under the US dollar. Economics 101. Most of the posts prior to mine were referencing the price variance between the U.S. & Canada for the same item. Reading 101. I did not discuss nor address the reason for the weak dollar. :sad: There is more at work than just failed or poor present fiscal policy that has lead to the weakening of the dollar. For instance, how about the fact that China owns a substantial part of our outstanding treasury notes? As the Olympic Games approach and they are forced to restructure their currency, which they have already begun to do will likely not help in strengthening the currency. Furthermore, the fiscal policy that has lead to this current trouble can not be pin-pointed to any one administration. This has been a tidal wave ever so slowly building over many years and has only recently begun to show its ugly head. Quote Link to comment Share on other sites More sharing options...
GTSE800 Posted September 27, 2007 Report Share Posted September 27, 2007 As the subject of this post implies, the main reason it is more expensive for US residents to visit Canada now (as compared to a few years ago) is because of the falling US dollar. And the main reason behind the US dollar falling is US fiscal policy. The recent rate cut from the Fed further pulled the rug out from under the US dollar. Economics 101. One of the best selling books written by Alan Greenspan most recently, he perdicts that within the next 2 years the rates will be in the double digits???? Quote Link to comment Share on other sites More sharing options...
rob Posted September 27, 2007 Report Share Posted September 27, 2007 There is more at work than just failed or poor present fiscal policy that has lead to the weakening of the dollar. For instance, how about the fact that China owns a substantial part of our outstanding treasury notes? As the Olympic Games approach and they are forced to restructure their currency, which they have already begun to do will likely not help in strengthening the currency. Furthermore, the fiscal policy that has lead to this current trouble can not be pin-pointed to any one administration. This has been a tidal wave ever so slowly building over many years and has only recently begun to show its ugly head. The fact that other countries invest in our currency (own treasury notes), is not a bad thing in itself.. It is only bad if they decide to quickly sell their holdings. The dollar is just another commodity, if people are buying it, the price goes up. If they sell it, the price goes down. Why do countries invest in another countries currency? Because they feel it is a good investment (will yield good returns), and is stable (their investment is secure). For many years, the American dollar was like the world's treasury reserves. It was the most liquid, most secure investment possible. So other countries bought US securities, and this held the value of the US dollar high. However the loose monetary policies of Alan Greenspan and banks offering easy loans helped foster the credit crunch that is only now becoming apparent. Low interest rates mean poor returns to those who hold US securities. So other nations started to move some of their investments away from the dollar, into other currencies such as the Euro. This sent the dollar lower. This month, new Fed chief Ben Bernanke cut interest rates by a half percent. The cuts merely add more cheap credit to a market that that is already over-inflated from the ocean of liquidity produced by former-Fed chief Alan Greenspan. This sent the dollar further into a tailspin, which is likely to continue for months or years. It is not rocket science.. Lower interest rates and easy credit mean less income for those that hold dollar securities. Think about it, how much interest are you getting on a savings account or CD? So it makes sense for countries to invest in currencies that give better yields and hold their value better. If you own US dollars, and the dollar goes down, that means you are losing money. That isn't immediately apparent to us until we do something like traveling to another country, and find our money buys less. But if you happen to live in China and own a lot of US dollars it matters.. And you may start selling dollars and buying another currency. And that drives the dollar down further, more people sell..etc. etc. etc. Quote Link to comment Share on other sites More sharing options...
too slow Posted September 27, 2007 Report Share Posted September 27, 2007 Yeah its not good news for Americans riding in Quebec thats for sure. The real strange part is that despite the Canadian dollar going up 40% in the last 3 years, everything in Quebec still costs 25-30% more than the states. One would think since the $Can. dollar has gained so much, Canadians would be paying less. I just dont get it. You ask for strange...not sure about some places today, but many years ago when you went out to eat dinner, i found certain restaurants or bistros had two prices or two menus..one for american or euro tourists and one for locals. Had one of the guys in our group is originally from quebec..speaks fluent quebec french..He proceeded to introduced us in french...we were definetly given a different menu than the ones recieved from a past visit there. Pricing on all meals offered were lower than what we previously payed there in the past when we ordered in english. Quote Link to comment Share on other sites More sharing options...
BERNARD Posted September 28, 2007 Report Share Posted September 28, 2007 I expected this by winter, but not by mid-september.. I'm concerned how low it will go. Damn... Us canadians can not buy a Toyoto for $3000 cheaper in the states because Toyoto will not Warranty the car in Canada. Thats FREE EXCHANGE what a piece of shit that is. Bombadier pulled the same crap a few years ago When rates where at 48% Man you cant win. What do you all half to say about that??????. Quote Link to comment Share on other sites More sharing options...
too slow Posted September 28, 2007 Report Share Posted September 28, 2007 Well i guess it works both ways...i bought a polaris in quebec a few years back...when a voltage regulator and speedo cable failed in the sled...i couldn't get warranty coverage here in the states on it..had to bring it back to a quebec dealer in saint donat to fix it. Just bought a toyota tundra last year...soild truck..zero issues so far..have not needed any warranty claims on this one yet. Quote Link to comment Share on other sites More sharing options...
smclelan Posted October 1, 2007 Report Share Posted October 1, 2007 I was looking at some websites for sled dealers in Houlton, Maine. The difference in price from there to Nova Scotia is huge. I am in the Houlton area for work about every two weeks, so it wouldn't even be a trip to go there. Just slip one on the company truck and head for home. For Canadians right now the difference in the exchange is a huge advantage. It works out to be a $3-$4000 less. Is there such a thing as sales tax in Maine?? Quote Link to comment Share on other sites More sharing options...
doobraap Posted October 1, 2007 Report Share Posted October 1, 2007 I was looking at some websites for sled dealers in Houlton, Maine. The difference in price from there to Nova Scotia is huge. I am in the Houlton area for work about every two weeks, so it wouldn't even be a trip to go there. Just slip one on the company truck and head for home. For Canadians right now the difference in the exchange is a huge advantage. It works out to be a $3-$4000 less. Is there such a thing as sales tax in Maine?? There is a sales tax in Maine. I am not sure if they collect at the time of sale or when you register so it might not be an issue since you will register elsewhere. There is no tax in N.H., you could look there too. Just the cost of the sled and that's it. There is definitly a business opportunity selling sleds over the border. Quote Link to comment Share on other sites More sharing options...
BERNARD Posted October 1, 2007 Report Share Posted October 1, 2007 There is a sales tax in Maine. I am not sure if they collect at the time of sale or when you register so it might not be an issue since you will register elsewhere. There is no tax in N.H., you could look there too. Just the cost of the sled and that's it. There is definitly a business opportunity selling sleds over the border. Big tax on YAMAHA to bring it over the Border,others only T.P.S and TVQ. No tax in N.H. Quote Link to comment Share on other sites More sharing options...
doobraap Posted October 1, 2007 Report Share Posted October 1, 2007 What are the TPS and TVQ rates? Quote Link to comment Share on other sites More sharing options...
Mid Range Posted October 1, 2007 Author Report Share Posted October 1, 2007 What are the TPS and TVQ rates? see my post above!! Quote Link to comment Share on other sites More sharing options...
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