lifestyle leader

• "Record contraction in US services sector: Private sector sheds most jobs in six years"
• "Record number of companies at risk of default"
  
• "More grim data pushes Wall Street lower: job cuts worse than expected"
• "Markets braced for big rate cut: Bad economic data continue to flow from leading economies"
• "Blackberry maker warns on slower growth"
• "Commodities prices at six-year lows"

Not exactly cheerful news. And yet it is in precisely these grim economic times that the politicians of one of the best-performing rich countries have decided to instigate a political crisis. All by themselves. Non-residents will be forgiven for not having heard about Canada's most recent political circus - you will also be forgiven for continuing in that blissful ignorance.

As I alluded to, Canada's economy has so far held up extremely well compared to the rest of the G7. However, the knock-on effect of recessions in the economies of Canada's biggest trading partners is likely only to be delayed and dulled, not avoided. Given that, Prime Minister Harper's decision last Thursday to use his "economic update" in parliament as an excuse to kneecap both opposition parties and public servants was pretty shameful. See Paul Wells for more on that score.

Equally shameful was the response of the various parties that make up the parliamentary opposition. Within weeks of decisively losing a federal election, the three opposition parties have decided, in their collective wisdom, that rather than blocking the PM's maneuver with their combined majority or even (horrors!) suggesting a viable policy alternative, they will form a coalition and take over the government.

The battle lines have been drawn and both sides are working ferociously to brand the other as unpatriotic, irresponsible, power-hungry nutters. Both sides are winning; meanwhile, Canadians everywhere are the losers.

Let me quickly address some of the main issues. First of all, there is nothing in principle wrong with the idea of a separatist party engaging in a government coalition. Moreover, since both sides have relied on said "separatist" party to support their agenda, there is equal parts hypocrisy on all sides. As far as the complaint by the opposition that the economic update did not include appropriate measures for fiscal stimulus... I got yer fiscal stimulus: right here!

I will finish with an open letter to Canada's legislators:

Dear Conservative, Liberal, New Democratic and Bloc Parties,

Grow up.