You're quite right that the spelling of "lose" doesn't make sense, but that's true of about half the spelling in the entire English language, isn't it?

The sensible phonetic way to spell "lose" would be "looz".

The we have "loose", as in "loose screw". I think the most sensible way to spell that phonetically would be "loos" and not bother with the "e" on the end, since there's no real reason to have an "e" there.

Let's say wee speld evreething in a totalee lojikul way, laik in this sentens. Wood that bee the way too go? Or wood it coz peepul too get even mor cunfyoosed?