Lose and loose

These two words are commonly muddled , and often writers have no idea that they are using them incorrectly.

Lose means to misplace something. Loose is the opposite of tight.

So the following are not correct:
Dropping my handbag made me loose my place in the queue.
I can't afford to loose this job.
The Hawaiian shirt was loud, lose and lousy.

How much easier it would be if they were spelled looze and loose, but that's the English language for you.