Sunday, December 09, 2007

Everyday Low Prices, U.S. Is A Giant Wal-Mart

From, "Canada's Dollar Craze":

When I was a kid growing up in Detroit, my mother once said that she loved to visit Canada, right across the river, because “everything there is on sale.” It certainly seemed that way when the Canadian dollar traded at a fraction of the value of the U.S. dollar.

The United States is now benefiting from a flood of Canadians crossing the border to do their holiday shopping. The two neighbors have traded places: America is now the country where “everything is on sale.”

The chart above (click to enlarge) shows the 40% decline in the value of the U.S. dollar since 2002 vs. the Canadian dollar, transforming the entire U.S. economy into a giant Wal-Mart for Canadians, with "everyday low prices."


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