With US having enormous debt and BRIC nations asking for International currency what would happen to CAD if the USD would be devalued.The last thing we need is to come this far and then find out down the pipeline that our homes and funds are worth what happened to MI and we cant afford to buy Tim Hortons coffee in India.I believe international debt is the cornerstone of this month's G20 meeting in Toronto after Greece,Spain,Ireland,Hungary etc.
Tradionally for BIG businesses to be competitive in Canada we normally had a rate of 22 cents below USD.For eg big companies where I worked in Canada (though company was from US and had a subsidary in Canada) they always worked 22 cents below USD irrespective of exchange rate.
Quote:
Originally posted by ashedfc
Stronger CDN is good for exporters.
How?
Did anyone follow the UK budget?
Very, very scary stuff in there.
Their situation has really gone down in last few years.
Some of the cuts and clawbacks are:
- VAT increase from 17% to 20%
- Public sector pay freeze
- Child benefit frozen
- Housing benefit cuts
- Tax credits reduced
- Disability Living Allowance cuts
- Capital Gains Tax increased to 28%
- Bank levy
- Pension age increased to 66
There are scores and scores of other cuts that impact normal, working Brits.
It looks like the govt. is really coming down hard on anyone capable of paying even the smallest amount of tax. The lowest income group has been eliminated from the tax net since they are not capable of paying any more.
Some of the comments from people in the newspapers and media are interesting.
Lots of people are saying why can't the govt. immediately stop all foreign aid and withdraw all troops from Afghanistan and Iraq.
The anger against European Union is mounting as well.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: Western Hemisphere
Posted on: 22-06-10 20:31:28
The poor monarchy's funding is also frozen at 7.9 million pounds. This has been the amount for the past 20 years and with inflation accounted, apparantly, the 7.9 mill is now worth quarter of what it was years ago.
What would the Queen do? Oh my gosh?
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Dimple2001
Quote:
Originally posted by pratickm
Did anyone follow the UK budget?
Very, very scary stuff in there.
Their situation has really gone down in last few years.
Some of the cuts and clawbacks are:
- VAT increase from 17% to 20%
- Public sector pay freeze
- Child benefit frozen
- Housing benefit cuts
- Tax credits reduced
- Disability Living Allowance cuts
- Capital Gains Tax increased to 28%
- Bank levy
- Pension age increased to 66
There are scores and scores of other cuts that impact normal, working Brits.
It looks like the govt. is really coming down hard on anyone capable of paying even the smallest amount of tax. The lowest income group has been eliminated from the tax net since they are not capable of paying any more.
Some of the comments from people in the newspapers and media are interesting.
Lots of people are saying why can't the govt. immediately stop all foreign aid and withdraw all troops from Afghanistan and Iraq.
It is just curtain raiser. The real act will start now. In fact U.K. is in better position than most European countries. Some of the European countries are economically primitive. Portugal, Greece, Italy, Spain etc. They enjoyed the better standards due to Euro’s strength. In a couple of years European Union will not have single currency and then these primitives will suffer more. In that way circle will be complete as these countries have inflicted unspeakable horrors on India and Latin American countries.
Politically, David Cameron will pay heavy price especially if his coalition Govt does not last long. Chairman Mao had coined a special word for such people. He used to call them “useful idiots” e.g. opposition parties in India. David Cameron has imposed lot of taxes and that would make him unpopular. If his Govt falls, labour party will regain the power. Thus Cameron, like idiot, would set the house in order and then lose power and liberal would rule again for 10-15 years.
So far as India is concerned if MMS and his master Kangress survives next four years (looks like they would), India would be worse off. Unprecedented corruption and siphoning of money and stashing in tax haven (IPL finance is just tip of Iceburg) Indian rupee does not have bright future. MMS is auctioning off PSU properties at throw away price (Telecom scandal of Rs. 60,000 crore) and spending on bogus social programs will have very bad effect.
The anger against European Union is mounting as well.
Quote:
Originally posted by Nightmare
Quote:
Originally posted by pratickm
So far as India is concerned if MMS and his master Kangress survives next four years (looks like they would), India would be worse off. Unprecedented corruption and siphoning of money and stashing in tax haven (IPL finance is just tip of Iceburg) Indian rupee does not have bright future. MMS is auctioning off PSU properties at throw away price (Telecom scandal of Rs. 60,000 crore) and spending on bogus social programs will have very bad effect.
The anger against European Union is mounting as well.
Which party does not indulge in corruption ?
there is no Politician in India who is untouched by corruption .
predictions are already out of 1$=1€
pound is doing 1$=1.48 now from 1.62 and ideally can go more
¥ standard equation is 1$=116 ¥, and once in a while the government does that
$ to CAD, standard was 75 american cents to one cad dollar,
rupee is pegged against the dollar and is now weakening due to dollar gaining ground against €,£.
