Monday’s Election

October 9, 2008

The election on Monday is close – really close.  Originally the conservative segment looked to be ahead by a dozen points, but in the past few days the liberal segment has gained considerable ground.

In Canada.  Conservative Stephen Harper’s “Stay the Course” rhetoric is causing consternation among many voting Canadians as their economic woes worsen daily.  Their stock market is also tumbling as fast as the U.S. markets and suffered its worst one-day drop in 20 years this past Monday.  Stephane Dion’s Liberal party is four points off the Conservative’s 33% plurality.

Neither the Conservatives nor Liberals will likely get enough votes to create a solid majority, meaning that for the third time in a row, Canada will have to form a coalition government.  It also means that Canada will have a fractious Parliament to deal with fractious issues.

This is important not only to us border states but to the nation in general.  Canada is still our biggest trading partner and we import more oil from them than any other country.  What goes on in Canada generally impacts us more than what goes on in Europe, although you’d never know it from watching the news.