Loonie lessons PDF Print E-mail
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Written by Amber Litzenberger   
Monday, 12 April 2010 14:42

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Amber Litzenberger


For the general public, finding out that the loonie is coming par with
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.

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