Canadian Dollar Crashes To 12-Year Low After Collapse In Consumer Prices

Tyler Durden's picture

Not since December 2013 have Canadian Consumer Prices dropped by such a large amount. November CPI dropped 0.3% MoM, dramatically worse than expected to the largest drop since Dec 2013. The largest YoY drop in Canadian CPI, amid a surge in inventories relative to a collapsee in wholesale sales sent the loonie crashing above 1.4000 for the first time since August 2003.

Candian CPI tumbles and Wholesale Sales plunges...


Which send USDCAD to 12 year lows...


Charts: Bloomberg

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Looney's picture

I am collapsing. AGAIN!  ;-)


Jlasoon's picture

It's starting to get ugly up there. Good luck folks! Oil ain't coming back anytime soon. And that housing market is beyond hot - time for NIRP guys!

StackShinyStuff's picture

All I am reading today is "crash" "collapse" "alarming" and general "doom" but what I am HEARING is BTFD.  That's how it works, right?  Right???

Four chan's picture

40% off good canadian beer and hookers is all i got out of this eh.

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I'm surprised you even pay for beer with knockers like those.

gmak's picture

Collapse in consumer prices?  Hah!  Come up to our grocery stores where all produce is being imported.

. . . _ _ _ . . .'s picture


Prices for things we want may be falling, but a lower looney hides this. The things we need, on the other hand, are skyrocketing.

Everything in Canada is being imported (except jobs.)

We export our commodities at falling prices, and import things made from those raw materials with 'value added.'

Yay NAFTA et al.

casey13's picture

Yeah thats for sure everything is either in smaller packages for the same price or more for the same size.

yogibear's picture

Bubbles galore. The Canadian real estate market was in a huge bubble.


NoWayJose's picture

Still is - wait until it really pops!

NoWayJose's picture

Help - I've fallen - and I can't get up!

Seasmoke's picture

I wish there were more than 1 thing that i want to buy from Canada.

FIAT CON's picture

How about some silver and gold Maples?   .9999 Pure

NoWayJose's picture

Strange - a Silver Maple did not lose any value or get any cheaper. Must be something peculiar about silver.

casey13's picture

This is true the spot price is down a little but the premiums went up a little.

Bay of Pigs's picture

Gold @ $1482, silver just under $20. Yes, they have held value. 

Yet gas is still $4.50 a gallon while oil has dropped 75%. Why?

BarkingCat's picture

That is the power of silver, especially considering that one side of it is marred with a image of an old and ugly inbread cunt.

Mewa's picture

buy precious metals to hedge against paper currencies....

Reichstag Fire Dept.'s picture

Sold my house in the Canadian oilpatch last summer, bought gold with the money and am currently hiding in Nicaragua until April when I go back gold mining!

Cdn$1.oo Cerveza anyone!? Cdn$645.oo/month room rental anyone?! Come down and hang out with me!

I'm trying to scrape together money to build a small hotel with a cigar lounge/cafe/bar...keeps me off the streets.

gmak's picture

How did you get your gold into Nicaragua without losing it to the corruption?  Which city / town has CAD645 / month?  Want cheaper? Just wait until the USA free-credit society implodes again and you will see prices drop in Central America as the Yanks vanish.

yogibear's picture

In the US it's debt to the max. Until it all blows.

I am a Man I am Forty's picture

I know a guy who quit the US and went down to Tamarindo Costa Rica and opened a bbq joint and a backpacker/hostel.    It's called Longboards.  He'd be happy to give you some tips I'm sure.  Ask for Jeff.  You're not too far.

1033eruth's picture

BS, if you sold your house LAST SUMMER, you could have BOUGHT a small hotel and had money left over.  


Dazar Nummers's picture



Canada is my refuge when it all goes south.  My compound is  Hyperborea.

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Bring guns. Many from down south have the same idea.

Government needs you to pay taxes's picture

Perhaps the cold weather will serve as a nice barrier to those who cant plan and execute beyond picking a banana/coconut off the nearest tree (in between chucking spears at each other).

Vinividivinci's picture

What cold weather? Here in Qc, rainy, 50 degrees and the forecast (HAARP much) for Xmas eve is 60 degrees...Merry chemtrails...

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Merry chemtrails... and a haarpy new year to you, too.

Kirk2NCC1701's picture

If I do go back under a TSHTF scenario, I'll bring my G&A.  

Won't be going back to ON or QC though.  Too damp & cold, too taxing, too PC.  Damn femi-nazi-zio-libtard-commies!

Oh, and 'The Precious' is already up there, in one of those lakes.

cheech_wizard's picture

"Like many key features of Canadian identity, Canadian exceptionalism takes as its vital oxygen a sort of oppositional energy to what is generally understood as American exceptionalism. American exceptionalism is conceived of as a continuation of manifest destiny, a ceaseless, visionary determination to occupy all continents literal and figurative, be they purely geographical or financial, cultural, political, psychological, metaphorical. Canadian exceptionalism takes its cue from American exceptionalism but overtly rejects the imperialistic expansionism inherent in this deeply-ingrained stereotype of the Yankee character. That rejection, in the national cultural imagination, is what makes Canada exceptional. Canada, it is understood, wishes not to conquer but to coexist, desires not conflict but cooperation, pursues collective order and polite equilibrium rather than engaging in some potentially destabilizing individual pursuit of happiness."

Standard Disclaimer:


dogbreath's picture

Excellent comment but I think that was more true in the 1970's.  we are no longer peace keepers and go tag along on all Nato adventures.  We need slightly more justification than the americans but like the british  -  we actively seek of fabricate it.

orangegeek's picture

Canadian voters keep voting in socialists to run their country/provinces/cities.  No surprise why investors are dumping the CDN.


I guess Canadians like economic suicide (high taxes, big government, lots of rules).   What a naive happy bunch.  Ignorance is bliss.

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Trudeau isn't a socialist, he's a globalist. The socialist stuff was just to sell the election.

"(high taxes, big government, lots of rules)"

This is not how I would describe Canada. Too much gov't intervention, sure. Otherwise, it ain't that bad.

Canada is always in the top 15 countries in the world (on all lists) and almost always outranks the US.

Vinividivinci's picture

As I often like to remind people, Trudeau Sr. was a confirmed Bilderberger, globalist, marshall law loving, satanist. Ever hear of the October Crisis? We were treated to armed soldiers and tanks in the streets and a suspension of our rights at the behest of Justin's dad...the rotten apple doesn't fall far from the tree...Just like ya'll in the US voted for Hope and Change and got Obozo, we got suckered into the same game...and we will pay for it dearly...

. . . _ _ _ . . .'s picture

(some self-referencing links here)

Trudeau Sr. privatized money creation in Canada.

"He ushered in the era of private central banking and huge national debt. The Canadian national debt when he took office (April 20, 1968) was $14B. When he left office (June 30, 1984,) it had reached $130B. That’s a factor of nine within sixteen years. At that rate, the debt would have been over $11T by 2016."

Justin is a globalist who wants to play with the big boys.

"Another point to note is that Justin Trudeau has been involved in making the job of PM obsolete. Elizabeth May (Green Party leader) as well as former PMs John Turner and Paul Martin (who once famously said that if you pay taxes in Canada, you need to get a new accountant) are also part of the same United Nations group which wants to do away with national sovereignty here in Canada, as well as in the rest of the world. This group is the United Nations Parliamentary Assembly (UNPA.)"

SixIsNinE's picture

  "martial" law .... don't want to give the Marshall families a bad name now

Trudeau's father was head of the Communist party in Canada ... and Justin is quoted as saying how impressed he was with China's communist run country in 2012

garypaul's picture

The October Crisis? You mean the one in response to the genuine FLQ terorists? I guess it's better than the 2001 to 2016 Crisis (and counting).

Bopper09's picture

He did instantly sign on to the TPP right away

Global Hunter's picture

Rural Canada is still populated by the ancestors of Scottish, Welsh, English, Irish, German, Scandanavian, Dutch and Slavic immigrants who came here and cut trees, built roads, dug up rocks, drained the bogs, started farms and families...its like a different country in the urban and surburban areas. 

Bopper09's picture

That's where I'm at.  But we still dig up rocks on the farmland, keep up roads, drain bogs......  It's a completely different country, but I'd separate the prairies from BC and Ontario, Quebec, as far as they take our money.

PavlovPup's picture

Transfer payments are a dubious way to run a country agreeed, Canadian provinces are big enough to be their own countries anyway. i wonder how well BC would fare on it's own? We have historicallly terrible leadership.


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Quebec can't separate, North American Union wouldn't allow it because of the St.Lawrence Seaway. Alberta and BC, on the other hand, could and probably should separate. They would make the best and one of the richest countries in the world. I'm frankly amazed it hasn't happened yet.

FrankDrakman's picture

Close but you really need to differentiate between urban and rural areas in those provinces as well.

Turn the GTA, greater Montreal, Ottawa, and Vancouver into their own provinces/territorries. The electoral map will show huge swaths of blue, with tiny pockets of red. 

Unfortunately, the red areas will have so much population (that's about 40% just in the four cities) that they will still control the gov't. 

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Maybe the world should go back to the city-state model and de-centralize everything.