It was refreshing to hear last week, a chief Liberal strategist be so open with their lament that what may be good for the Canadian people - economic recovery - will be very bad for the Liberals.
Given that the stock market is a leading indicator and unemployment is always a trailing indicator (meaning it improves last) the Liberals are right to worry. Stocks are way up from their lows early last year and now we have word that the G8 is already preparing for a worldwide economic recovery.
It's also a bad news twofer for those on the left: it portends continued conservative rule, yes, but they're also discussing unwinding the stimulus packages. For the rest of us, economic downturns are a bad thing, albeit an inevitable occurrence where the market "correct" inherent inefficiencies or problems in the economy, giving us a natural economic cycle. To those on the left, a downturn is an opportunity to remind voters that the market is imperfect, and with the help of a pro-statist media, attempt to convince the populace that the economy can be made perfect and the pain of these downturns avoided if only we had bigger government and more spending. Make no mistake about it, to those on the left, there is to be nothing temporary about "stimulus spending".
Yet just when the spending party started, Flaherty and others in the G8 are already planning the big spending "exit strategy".
Good news for us. Bad news for the left. And bad news for the Liberals.