Low valued loonie 'mocked'

Re. Silver lining of low loonie (Castanet, Nov. 20)

The weak loonie (Canadian dollar) is not good for most people.

Firstly, at a national level it portrays a weak economy, poor fiscal leadership by Finance Minister Chrystia Freeland and generally soft weak economic policies at federal level. Poor economic indicators and productivity abound. One cannot be very competitive and productive on the global market with a weak currency.

Touring around the world, visiting and doing business in other countries, as a Canadian dollar holder, one is treated not with great respect but like a second class citizen. Converting into local currencies, the contrast with the U.S. dollar holders is stark and unsettling.

While the U.S. dollar is suffering some weakness due to global “de-dollarization,” ballooning debt and vast levels of money printing, we are not seeing any benefit on the Canadian dollar side of things.

Canadians seem happy to just settle for second best, on the promise of some economic benefits for the small number of American tourists visiting the country, and a few local wineries, most of which are not viable businesses without government support. They are always begging for grants and hand-outs, operating businesses at a loss and constantly complaining about their fate. Sell, diversify, or find something more profitable to do with your land and assets.

On the global stage, my Canadian dollar is treated like a Third World currency, and standing shoulder to shoulder with American contemporaries is just plain embarrassing. We are looked at like paupers. In fact, in some cases, sneered at and mocked, on our travels.

It is yet another reason to bid the disastrous Liberal federal government farewell in 2025 (or sooner, hopefully).

Ricky Daytona, West Kelowna