Monday, December 01, 2008

Taking a dive?

The Globe and Mail is reporting that the Axis Coalition is being firmed up to be a done deal:
OTTAWA — The Liberals and NDP have reached a deal to bring down the federal Conservative government and form an unprecedented coalition to take its place that would last 30 months and include cabinet seats for both parties.

Sources confirmed Sunday night that the two sides have ironed out an agreement that would see a cabinet of 24 members — 18 Liberals and six NDP. The Liberals are expected to meet in caucus Monday, where MPs will be able to discuss the arrangement.

While I expect blog politicos will be watching the latest Axis developments today, I on the other hand, will be keeping my eye on the TSE. I suspect the market will be especially vulnerable in light of the news Canadians may be facing government by Axis and cause the TSE to start to tank. If not a complete dive today; it probably will be once the Axis coup is established and presents parliament with its ‘stimulus package’.

Update:Well, the TSX has experienced biggest drop since Black Monday.

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