A storm is brewing north of the 49th parallel.
Right now it is just a squal, but it could whip itself into a powerful hurricane, strong enough to blow away much of your investments. The name of that storm is Jack Layton.
Smilin Jack is the leader of Canada's New Ðemocratic Party (NDP). It is far and away, the most leftest political party North America has ever seen.
Jack has been covering the country with huge spending promises, especially in the Province of Quebec, and it is that province (often the bane of Canadian investors) who may once again, send your retirefund into a tailspin.
As Jack entices Canadians with over $80 Billion in election promises, (and no hope of paying for them) there is a well spring of support from students, former Bloc Quebecois supporters, and red Liberals who are beginning to fall for a nice guy with a nice smile and pie in the sky promises. This former University professor has never run a business, been responsible for payroll and benefits for employees, invested on behalf of others or even run a Government Dept, but he could actually become the Prime Minister of Canada. That possibility now has about a 50-50 chance of coming true. Herès why!
The opposition Liberal Party under Michael Ignatief with the help of leftist Jack and the Bloc Quebecois, were successful in voting down the recent Conservative budget, and forcing this election. The Conservatives, under Prime Minister Steve Harper are looking for the first majority government in years, as they know that, if they only get another minority government, This coalition of opposition parties will vote down the budget again and then present themselves to the Governor General as a (coalition) majority of Parliament, able to govern. If history is any indication, their request will be granted.
Now when this coalition first hatched this plan, the Liberals had a commanding lead over the other two coalition parties and that would make Michael Ignatief the Prime Minister. The Liberal party is known basically as a party of the centre (most of the time).
However if the polls are correct, it is possible that the NDP, and smilin Jack, have a good chance of stealing seats from both the Liberals and the Bloc Quebecois, thereby giving them more seats than either of their coalition partners, and subequently making Left Wing Jack the Prime Minister under the above scenario.
Of course, if the Conservatives get their majority, this scenario melts away. Also, if Jack does come out on top of his coalition partners, it may well be that the Liberals will turn the tide and side with the Conservatives.
Only time will tell, however, be forwarned should the NDP hold such sway in Canada, the stock market, big business and subesequently, your Retirefund could be in for a thorough, socialist thrashing.
"The problem with a socialist government is, they always run out of other people's money"
former Prime Minister of England
- Will Jack Layton usurp Michael Ignatieff? (macleans.ca)
- Bloc Quebecois calls on Parizeau to stem NDP surge (ctv.ca)
- Harper warns of devastation and destruction if NDP gains control (canada.com)
- And now, an oddly familiar message from the Conservative campaign (macleans.ca)
- Does NDP pose more of a threat to national unity than the Bloc? (theglobeandmail.com)
- NDP's Jack Layton riding 'seismic shift' into second place, poll shows (thestar.com)