| Loonie lessons |
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| Local Content - Community blogs |
| Written by Amber Litzenberger |
| Monday, 12 April 2010 14:42 |
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Amber Litzenberger the American dollar is cause for grumbling. Last time that happened we had this awful thing called a recession occur, something that we still haven't quite managed to crawl out of. Now it seems to be happening again. The entire Canadian economy is tied very closely to the American one, which has more or less crashed as everyone seems to know, and that drags us down. Due to the way in which our economy was built, the way companies were organized to get the best out of the American dollar being worth more (most of the time), we go down hard. Our market for our goods diminish as many can no longer afford it - the US won't buy from us since a higher dollar adds to our price and our own citizens, hit by the same bust, move to shop below the border where things are suddenly cheaper. In fact, the slump in the American economy has had a sort of ripple effect on economies around the world. In all of this, it is good to know that someone benefits. Foreign workers. Taber has many foreign workers, particularly Filipino workers. We even have a Filipino society, and this rise in the loonie is great for those of them who are sending money home. According to the news last night Filipinos can by twenty five percent more pesos with one Canadian dollar than they could a month ago. I think of that and, even while I am anxious about the negative effects this is having on us, I am glad for them. Most of the Filipinos I work with do send money home - everything except that which they need - and going home for them is expensive. Some of the girls have children they haven't seen in two years or more, or family they are supporting that they stay up until four in the morning just to talk to. Several are funding their siblings through post secondary education, others still plan to bring their whole family over. When I ask if the distance makes them sad, if they ever want to just go home and settle down, they tell me this is the 'Filipino way of life'. That is something I have come to see, and it makes me appreciate all the more what I have here. Maybe it isn't perfect and maybe we are passing through a slump, but we are passing through and I am surrounded by my family who will support me through it. |