Canadians cheered Friday for their beloved loonie, reaching parity this week with the US greenback for the first time in 31 years, but consumers are not yet benefiting, and manufacturers are reeling.No way has the Canadian "loonie" gained strength against the dollar. the dollar is collapsing, and those idiot Canadians are cheering.
The loonie, a sobriquet given to the Canadian dollar, worth a mere 62 US cents five years ago, reached parity with the US greenback in morning trading Thursday, amid soaring commodity prices and fears of a slumping US economy.
Consumers are not benefiting and manufacturers are reeling. You'd think they could take a clue from that. If our economy tanks, the Canadians will follow right along. But they must think being second in line down the toilet is something to cheer about.
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