One year into the pandemic, Canada’s housing market is surging at its fastest pace in years owing to desperate speculation, emergency COVID-19 measures and a massively-unequal rise in savings—none of which are guaranteed to last. The unexpected price surge Since 2008, analysts have warned Canada’s housing market is due for a bust. In 2019, an […]

This article is a transcript of the presentation given by Vincent R. Beaudoin at Fightback’s Marxist Winter School 2021. When the Soviet Union collapsed in 1991, Francis Fukuyama told us that this was evidence of the failure of the planned economy and the success of the capitalist market economy, and that it represented the end […]

Since the beginning of the year, a group of amateur traders, organised on Reddit, have been playing the market against major hedge funds, who had shorted shares for GameStop: a US-based video game retailer. As a result, GameStop’s share prices have gone through the roof, and a billion-dollar hedge fund had to be bailed out to […]

Since the pandemic broke out last March, we were told that we were all in the same boat. Now this is shown to be a great and terrible lie. While the workers have been losing their jobs and dying from COVID-19, Canadian capitalists have been hoarding astronomical sums of money. New analysis of StatsCan data […]

A universal basic income (UBI) is being seriously discussed across Canada, especially in light of the COVID-19 pandemic and the various federal benefit programs. A universal basic income is an unconditional payment made to all citizens and is usually a guaranteed, cash-based payment that all citizens receive regardless of income or tax bracket. There are […]

With the recent budget released by the Trudeau Liberals, further increasing Canada’s already record deficit, the big question is “who pays?” Sooner or later someone has to pay – and you can be damn sure the bosses will try to put that burden on the workers. This question, as simple as it sounds, has been […]

The capitalists are eagre for the COVID-19 crisis to come to an end, and many anticipate a rapid economic bounceback. But the new normal will be one of crisis, chaos and class struggle.

Even before COVID-19, Canada was experiencing a rapidly expanding housing bubble. As a matter of fact, it’s the biggest housing bubble of any G7 country, even bigger than the housing bubble that instigated the crash of 2008. While the bubble has been inflating out of control for years, the only question is: why hasn’t it […]

On July 8, federal finance minister Bill Morneau announced that the deficit had ballooned to an astronomical $343 billion. The total government debt load is predicted to surpass $1 trillion for the first time in Canadian history, reaching $1.2 trillion sometime next year. This unprecedented level of government spending begs the question: When will the […]

The COVID-19 pandemic has triggered an unprecedented economic crisis in Canada. In the words of the Trudeau Liberals, “the toll of COVID-19 on the broader economy in 2020 is expected to be the largest and most sudden economic contraction since the Great Depression.” Finance Minister Bill Morneau claims that “Our government has understood, from the […]