The 38th Central Convention of our Party follows a major political upheaval in the recent federal election, and a new escalation of the global economic crisis which emerged in 2007-08. Initially, the Canadian economy was buffered to some degree by exports of fossil fuels and other natural resources, and because Canada’s megabanks were somewhat less exposed to the collapse in value of leveraged (re-packaged) debt. Now, the dramatic collapse in energy prices and the Canadian dollar are causing new job losses and rapid increases in the cost of imported products. The working class is paying a heavy cost for the turmoil of the capitalist system.
Commentary by Naomi Rankin, Communist Party-Alberta leader
If anyone in Alberta thought that electing an NDP government was all they needed to do to fix the economy, they had a rude awakening in the royalty review report finally issued by the NDP appointed committee. This is a document that could have been accepted by any Tory government in the last 40 years, or the Socreds before that, making no challenges to illogical economic assumptions that have guaranteed oil and gas corporate profits at our expense – except that the Tories might have felt obliged to engage in more window dressing of the blatant surrender to the big oil and gas operators.