“We had thought that if the U.S. economy slowed down, the global economy would probably slow down, and that doesn’t seem to be panning out as much as people thought,” said David Watt, senior currency strategist at RBC Capital Markets.
Drinking Liberally in New Milford comments:
HOLY BEAVER SH*T! We aren’t even relevant to Canadians anymore?
He goes on to detail how marijuana imports from Canada have stopped because the price went from $1600 to $2500 a pound.
Well, thank God we’ve made the country safe for Marin County pot growers.
Am I that old? I remember when it was $100 a pound. Not that I ever inhaled or anything.
Of course, I remember when the Canadian dollar was worth more than the U.S. dollar in the past, too, and that goes back a few years… to the early 1970s, the last time we had liberal Keynesian economics in the White House. Gee, Bush did the same thing they did and got the same result: stagflation. What a surprise.
(This link tracks historical C$ value.)
Well, weed today is way more powerful than in the past, but still, the price increase is startling. It has 5 times more THC for way more than that in price increase. I’m glad I quit when it was still cheap!
Another problem is Canadian meds are no longer cheaper to buy for Americans.
What really concerns me is that our largest trading partner in the world, and one that produces a lot of oil, has deemed us less relevant to their dollar and economy. How long before the rest of the world decides that we need to be irrelevant to the price of oil because of the unstable greenback? That is what props up our dollar. Oil, and the fact that it is traded in US dollars.
Most of the countries in the world have continued to use the American dollar to trade oil because they worried that if they destabilized the dollar it might hurt their own economies. If that ain’t happening now, as the American economy is tanking already, they may change their minds on that theory real fast.
Added note: The average increase in costs for products has been 30% for Americans that go up north to shop. The price of pot has increased much more than the 30% here if you go by those numbers, which would denote an increased demand in the US, no?
So: Does bush cause drug addiction? lol jk
When Billy Bragg played in Northampton MA recently, he joked that when he was in NYC, he had to stand in line behind all the other English who were buying stuff cheap, but here in Massachusetts he was behind Canadians.