Looks like another bad day overseas, and CTV economists are expecting a 500 hundred point plunge at opening on the DOW. A co-worker of mine made a call yesterday and found out that $4,000 of his retirement fund had just gone poof.
Recessions suck, and I expect that despite the solid fundamentals underlying the Canadian economy, we are headed into one that will be particularly bad. In 1990, if I remember correctly, there wasn't nearly the kind of stock market apocalypse that we've seen in the last couple of days.
And I remember last time around, when I was with a different employer, the company called a taxi for each of the people they were laying off. Of course they were all from one department and took smoke break together, so they were outside when the cars showed up. It was the cabbies told that first told them they'd been sacked.
As for the political effects, I agree with CG:
I think the"right thing for Canada" would be to wait until things get bad enough that people are willing to toss Harper over the economy and then bring 'em down.
Patience, people, patience.