The flip side of the loonie argument

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By Jeff Sanford

The wolves are quietly taking off their sheep costumes. 

And our wounded loonie is the bait.  But these predators are smart, they’re using the plunging loonie to attract bigger game, namely our Canadian social services.

Of course, they can’t be blamed, this is politics, a survival test more dangerous than anything nature can unleash.

But this attack is as cowardly and devious as shooting a duck in your decoys — not very sporting of the bastards, if you ask me.

I’m talking about the cadre of opinion makers who have lined up behind economic poster girl Sherry Cooper, media whore and chief economist at Nesbitt Burns, to support her call for lower taxes to save the drowning dollar.

The logical fallacy at the heart of the argument would be laughable if the chance for real carnage wasn’t so frighteningly real.

Pierce the candy coating of the M & M argument — that our dollar is limp because of our high taxes and expensive social service, which is true, only to an extent — and instead you find a rotten, blackened core.  It isn’t a coincidence that the loonie — the currency in a country where 30 per cent of the exports are commodities — exactly parallels the slowdown in the Asian economy.  When nobody buys our stuff nobody buys our dollar and nobody’s buying our natural resources so our loonies takes a dive.

Basic cause and effect.

Low commodity prices far more than social costs, are forcing the dollar down.

Advocating cuts to taxes in such a climate, more than just arguing in bad faith, surely signals the work of evil.

But I’m surprised — such an obvious power play makes the malicious conspiracy of the global financial elite’s quite obvious.  They must be softening up the defense before the main attack.

Don’t worry though, when they use the Y2K blackouts as a front for their final assault and they unleash the wolves for the long night to gorge on the flesh of the have nots, I’ll be ready.  I invested my loonies in spitting iron a long time ago.

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