This post is from Noni Mausa. I edited the first sentence slightly to account for the fact that she sent me this a few days ago and I didn’t put it up in a timely fashion.
I hear that the CDN versus US $ went to $1.08 the other night, breaking an all-time record. That, compared to around 63 cents in 2002. The last comparable CDN$ high was in the dying days of Nixon’s second term. We have surpassed that now.
Moral of the story? Maybe, when the USA gets a lunatic Republican president — use your US dollars to buy Canadian dollars early in their second term. Anyone who had done that this time around and cashed it in today would have $1,700 for every $1,000 invested in 2002.
I predict the dollar will bounce back somewhat, immediately upon the election of the next president, no matter who they are. Does this sound likely to you?
“Anyone who has the power to make you believe absurdities has the
power to make you commit atrocities.” –Voltaire
This post was by Noni Mausa.
FWIW… my attempted answer to Noni’s question… I had a post a while back on the Value of a Dollar by president. I don’t think I ever got around to graphing it by administration. But… I suspect things generally don’t change on a dime. I think if the next President seems to most people to have a reasonable economic plan, there will be a bounceback, but it will be small. It will take a while to see anything bigger. And even then, there is some question in my mind. The dollar has fallen in all but two administrations since the end of the gold standard in 1973. I suspect some of the decline over time is systemic – we spend too much.
Anyway, your thoughts on Noni’s question?