Loonie Tunes

The America dollar continues to weaken at an alarming rate.




The Canadian dollar reached parity with the U.S. dollar this morning for the first time since November 1976. The euro also soared to its highest-ever level against the dollar, trading above $1.40 for the first time since the currency was introduced in 1999.

For those of you who don't already know, the Canadian dollar is often referred to as the "loonie".

The loonie has been gaining on its American counterpart since bottoming out below 62 cents in early 2002. It has recently been on a spectacular run, up from 95 cents at the start of September and from under 90 cents last spring.

The weakening dollar will make your trip abroad cost more than you ever thought possible.

It will make two-way overseas trade with other countries very difficult for the American businessman.

And who can we thank for this?

I would look to this looney.