Economics is a Shell Game

ImageNews media writers and editors would have us believe that the decline of the Canadian dollar happening now is akin to Armageddon and that our life as we know it will change and that “consumers” and the retail sector will suffer.  The pro argument for the falling loonie touts increased manufacturing – more stuff for consumers to purchase.  It is a comical conundrum.

Is this indeed a forecast of devastation and sorrow?  Oh My!  What will we do?  Writer Neil McDonald of CBC thinks as Canadians we are “willing to rationalize being milked”

Our first thoughts go to the poor retail workers who will loose their jobs.  Selling stuff.  Working below minimum wage, considering their employers’ failure to provide benefits. Read the rest of this entry »