Gas 1994I spent hours trying to decide what my standard of living would be in Canada as opposed to the US. What I learned is that trying to do...
off topic 1996I guess I'm hoping that less people will be suckered by his campaign this time around. With all the facts out there about his administrations greed and incompetence, I would...
The cost per unit is iinformative, as in a previous example of $3.39-gallon of gasoline in British Columbia versus the $1.849-gallon that I just paid for gasoline here in Minnesota. That's a reliable comparison of relative purchasing power, and it is made without reference to exchange rates.
Tourists care about exchange rates. Anybody exchanging one currency for another cares about exchange rates. Anybody purchasing goods or services priced in one currency with a different currency cares about exchange rates.
Nobody else has any reason to care about exchange rates.
I'll give a real-life example relative to the changing of one currency to another:
I receive US pension income. While living in Canada, this was wire-transferred to my Canadian bank in US dollars, converted to Canadian dollars by the bank, then deposited in my account. I took notice of the exchange rate between the US and Canadian dollars to the extent that it affected the amount deposited in my Canadian account. BUT (he writes), once the money was deposited, the issue of currency exchange stopped being relevant. What *was* relevant was that I had so many dollars, and my rent was X, and gasoline was Y, and a loaf of bread was Z, and so on, and the bills had to be paid with the dollars I had on hand.
That's how it works, Shawn, whether the country under discussion is Canda, or the US, or any other country.
That is what's relevant.
-- Fred Grosby