Friday, September 21, 2007

Canadian Loonie Equals US Dollar: Today's Cartoon

To me, the fact that the "loonie" has hit parity with the US Dollar for the first time since 1976 is not an indication of a strong Canadian economy, but is rather the outcome of America relying on "God" as its financial adviser.

Oh sure, he may have created the Earth in seven day's, but it's been the banks that have controlled it ever since. I mean, there is nothing wrong with Americans putting their faith in the Almighty, just understand that that was never the real reason why so many of them were able to get a sub-prime adjustable rate mortgage, despite having bad credit and poor financial prospects.

So while Canada rejoices in its false "cents" of accomplishment, I think it's important to note that regardless of one home's worth, too many foreclosures on the block will inevitably bring down the property value of the entire neighborhood.

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