If you think the USA economy is a little tough, wait another year and Canada will be in for a surprise!
While Canada's dollar is at its highest value since the 1980's, Canadians are enjoying the buying power to shop for everything in the United States. They are purchasing furniture, kitchens, granite, clothing and electronics to mention a few.
On the surface, all looks like prosperity, but what they are not hearing is Canadian Manufacturers are shutting their doors. What once was a great market, selling their products to USA retailers and consumers is now gone.
According to several Canadian furniture manufacturers, approximately 75% of their business came from the USA. Now that the USA dollar is almost 25% weaker against the Canadian dollar compared to a year ago, (almost 40% weaker from 3 years ago) Sales have fallen dramatically causing them to go out of business.
We all know what happens when people loose their jobs and the manufacturing is weak. The economy will take a nose dive! It will take years if not a decade to stabilize their economy increase employment!