U.S. dollar:

Canadian Dollar

Traditionally valued lower than the American dollar, the Canadian dollar is currently trading equal to or higher than its U.S. counterpart. This is due mostly to the very strong Canadian economy, backed up by record high oil prices and record low unemployment rates. The second largest oil reserve in the world belongs to Canada, and is located in the Alberta Tar Sands, second only to Saudi Arabia.

U.S. Economy

Meanwhile, the U.S. economy is faltering due to the downturn in housing prices, the sub-prime mortgage lending crisis, and the ballooning national debt for the Gulf War II in Iraq. Which is costing American taxpayers in the U.S.A. a whopping ten billion USD per month! So far the war has already cost approximately $460 billion USD, and is expected to reach at least one trillion dollars before it is over.

Recession?

Despite all that though, the U.S.A. is still the foremost world super power both economically and militarily and with the upcoming Federal election and subsequent change in leadership, it likely will weather the storm. Will there be a recession in the United States of America? Hopefully, likely, not, only time will tell.

A. Ryan Robbins of ycopfiles.com wrote this article. Why cop files dot com? It's Computer Information Security articles for the Law Enforcement community! Follow me on FriendFeed. Track me on Twitter. Subscribe to my News Feeds for free. Or read the Blog Frog to learn more about me.

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