Sunday, July 08, 2007

Loonie Gets High

More good news for the Canadian economy- the loonie is at a 30-year high, trading at 95 cents to the US dollar. The loonie is the one-dollar coin here, as pictured at the right. Canadians call the bimetallic two-dollar coin a ''twonie'' (or a toonie). What can I say? Canadians are silly. In a less amusing note, the Canadian butt-rock band Nickelback is named that because the back of the Canadian nickel is a picture of a beaver. Get it? A beaver! High five, dude!

Anyway, I think the Canadian economy is particularly strong because Alberta is currently getting rich beyond belief selling beef and oil to the states. It's also important to remember that the mercantilists were wrong: if the Canadian dollar is strong it is no indication that the American dollar is weak. Wealth is not finite. It is good news for me though since I have a Canadian bank account and can buy more crap in the states and abroad.

(To see a giant tourist attraction twonie go here.)

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