The mantra that the low dollar makes Canadian economy more competitive is a chimera. Investment in manufacturing requires above all a predictable exchange rate for a period of at least 5 - 10 years and a dedicated domestic market. All that has been sabatoged by floating exchange rates that are tied to linkages that are impossible to predict 6 months in the future.
Canada's greatest period of prosperity, after WW2, in fact the period followng Confederation, was realized in a period of protected industry and stable exchange rates guaranteed by the Gold Standard and subsequently the Bretton Woods Agreement. All that has been dismantled in the Free Market era, beginning in the early 70s, with its empty, unkept promises of prosperity as the productive economy around us crumbles.
They are dictated by a criminal class of parasites of Wall Street that suck the lifeblood out of nation state economies and claim for themselves grotesque rewards of what is left of the world's productive economy. This works in lock step with Global Free Trade, in the power of Global Trading Oligarchies which depresses currencies to extort nations into exploiting workers at subsistence wages.
It is the manifest of a slave economy that enriches a minute percentage at the expense of billions struggling to feed their families. It is a snake eating its own tail, unsustainable over time... and it will lead us into an era of poverty and conflict which we haven't experienced in a millennia.
