I had a recent dicssion on gas prices. I could not convince my counter part that we need to convert the curreny to a common denomenator.
So do you think a dollar is a dollar regardless of county? I hear a good indication of economic status is the price of a Big Mac as McDonalds is like Bill Gates - over 99 Billion served (wtf counted ?????) , but still is a dollar a dollar ?
Forget the ecornomics of location (yes Manhatten is more expensive than Boise ) just a general question .....
To me, in our own countries, a dollar is still 100 cents, etc. When you compare exchange rates it certainly isn't. Gas prices get more tricky. We pay more in Canada (my Province) because 40 cents on each litre that costs 89 cents for premium is TAX! Your gas tax is much lower in Alberta, right? I worked out our gas exchange a little while ago and I think it was 3 or 4 dollars U.S. for a gallon (3.78 litres). I'll work it out tomorrow and post, too lazy right now.
Yeah gas is cheaper here so are taxes ....( no PST) ..so how about the price of a Big Mac ? I am taking take home price all taxes included.
Here in ALberta it is ..(damn not sure , I will try and check tomorrow)
06-16-04, 08:56 AM
I have not been to McDonalds in years. But a 24 case of Lakeport beer is $24 plus depost
A 5/4 x 6x10 Cedar deck board is $12.90 +15% tax
$95 for a teeth cleaning
Exchange rate does not mean how will the country is going handling its debit. Or Canada (surplus in budget for at less the last 5 years) would have one of best $ around and US would be lower.
The exchange is set by a bunch of greed people who make money by telling their customer to buy and sell $
It is not like a person is paid there little in Canada
Min wage in Ontario is like $7.10/hour plus at less anyther $2/hr for EI, pension , WCB,health tax.
What I am trying to say is that we get burn by greedy money trades
Ahhh Yes ..... Economist and Bankers .....greedy ya think ? Most Banks in Canada show 100's of percent profit every year and complain about it if it happens to be less than last fiscal quarter. Then service fees get hiked ....ahhhhhhhh
Here is the 'Big Mac" Index I was talking about
Min Wage in Alberta is $5.90 I think
Flat of brew (24 ) is about the same as Ontario depending on brand, about a $1.00 each plus deposit and taxes
No idea how much wood cost (but thinking about a hardwood floor soon - then I will have an intimate knowlede)
A liter of 87 Octane is 88.5 cents / 91 Octane - is 91.? last time I filled up.
No PST (Provincial Sales Tax) in Alberta so just the 7% GST (now that was pure consumer rape a 7% tax for a "Goods or Service" think that is generic enough ?)
I guess it all boils down to "purchasing power" or lack thereof of the dollar in your local Country / City.
American banks aren't making the kind of money they've made in the past. That's why we're having all these mergers and acquisitions right now. Interest rates are so low the only way to improve on their bottom line is to buy some other bank's deposits and then consolidate operations to cut expenses.