Canadian manufacturing lost 13,000 jobs in June with a complete loss of 30,000 over the last year, according to statistics Canada's latest report, July 8th. As always the apologists for capitalism try to put a brave spin on things. The report said, "the loonie took a hit again on the back of the weak jobs report. Increased demand for Canadian goods caused by the cheap dollar, economists believe, will eventually boost the long-suffering manufacturing sector and recoup factory jobs." So far there is little evidence to suggest that will happen.
And how about this beaut from Ontario's Finance Minister Charles Sousa: "Despite the slight decline in the last months job numbers for the province is on the right track." He didn't say what he meant by right track, because any track the political upholders of capitalism are on leads nowhere.
It's time for these people to face the truth, which is capitalism is a market economy which cannot be controlled and the only way to eradicate the problems it causes is to abolish it. John Ayers.
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