Economic Update – Alberta 2021-06

Economic Update – Alberta 2021-06

Posted on 2021-06-05

The insurance industry in Alberta is rising prices of insurance premiums. In some cases, by 18%. Their defense is “you see this happens when the (NDP) government freezes insurance premiums in the province”. This is a “natural” reaction to all of that. Another one: “Alberta is a high-risk province, where bad things happen more frequently.” The “natural” reaction is to ensure that profits flow uninterrupted no matter what. That needs “protection”. That the cost is shifted to the population, that is “natural”. One more time, it is worth thinking about a public led insurance industry that looks after the needs of the public. The “natural” habitat of private capitalist corporations is the problem. I have written already about this here: Rising insurance premiums in Alberta | Alternative (wantalternative.ca).

Just another headline: Air Canada paid $10M in COVID-19 bonuses to top execs while negotiating gov’t rescue plan (msn.com) and another one: Feds announce $5.9B aid package to Air Canada to help customer refunds, jobs . Once again, the “natural” habitat of private capitalist corporations is that they need “protection” paid by you.

CRTC allows rate hikes for consumers of small internet providers. CRTC rules to uphold rates large telecoms charge small internet providers for access to networks – The Globe and Mail. “Canada’s telecom regulator will largely allow big phone and cable companies to maintain the rates they charge smaller internet service providers for access to their broadband networks, after the big telecoms complained lower prices, the commission announced nearly two years ago would discourage them from investing in new infrastructure.” They don’t even invest in infrastructure where it is necessary: in rural Canada. It is not profitable. Canada is already the most expensive country in terms of internet and mobile phone access. Profits first, nothing else after. Another thing to think about: do we want to leave our communications in private hands?

There is new legislation being put forward to allow sports betting in Canada (C218). So far, the rules have been rigid. “The prohibition on single event sport betting is something where we are all behind the world including our neighbour to the south”. Says Kevin Waugh, Saskatchewan Conservative MP who have sponsored the bill. “We want to give people an option, they would like to be entertained…”

Gambling is big business. Pulling out money from people’s pocket by luring them into believing that they can win easy money is a long-time interest of capitalists. Their lobbyists are working hard to lax regulation on gambling in general in Canada and everywhere. Right now, you see 10 different advertisements on tv for gambling. Gambling is a great business for the owners of the businesses. You, the better, never win on mid term or long term. It gives “opportunity”, the “freedom” for everyday people to be economically maimed by gambling. But that is not a concern. The concern is to present gambling to a wider and wider audience possible. What gambling does to people is never a concern for big business. Big business is winning the game here once again.