...if Iggy pulls the trigger or not, inasmuch as it is really up to him.
1) If he does, the odds are very much against anyone's blaming him for a "summer election" for more than three days into the resultant campaign. Nobody blamed Harper last time, if you recall.
2) If Iggy doesn't, the economy will suck this fall and well into next year, and therefore so too will Harper's polling numbers. Even if, and its a big if, the recession technically ends, it will "feel" as though things are lousy for several years afterwards. Last time around, the recovery might have begun in 1991-1992, but my company (for example) was still down-sizing in 1998.
And even though, technically speaking, the Great Depression ended in 1933, people look back on the '30s as being pretty uniformly miserable. So no worries on that front.
While from one perspective--the political junkie's--I would love to see an election every three months, from another I would prefer to drink beer and hang around the BB all summer. So either way I'm cool with it.