COAL IN YOUR STOCKING: ’Tis the season for retail sales. Following that, the weakened Canadian dollar coupled with the closure of a major industry and its associated payroll could send the local economy into a tailspin. And the coming collapse is made all the more ironic by numbers released this week that pegs the county’s unemployment rate at just 5.3 percent, a seven-year low—that’s great news, but not for long.
Heavily dependent on extraction industries and the price of fossil fuels, the Canadian dollar fell to 72 cents against the U.S. dollar last week, with some speculators predicting it could continue to slide through 2016. […]