A minor earthquake and tornado didn’t destroy Toronto yesterday. Will the G20 summit mean a disaster for the city? Lake Mistake and an over armed security force may be more than just a little overkill. I doubt the numbers of people in the city disgusted by this circus (protesters, pedestrians, and everyday people) warrant such a heavy handed approach. One thing is for sure, we are going to be in for an interesting ride.

The major media have hyped this thing to the heavens. I pray there are no incidents (whether they are due to yahoo “protesters” or overzealous “security”.) This scandalous billion dollar love-in will really be a failure for the Harper government if there is no concrete progress on the “real” issues. Fiscal responsibility, the economy, and the environment should be front and centre. Instead the lead up and staging of this G20 has only highlighted what is wrong with richest nations; their lack of leadership and prudent use of human & fiscal capital.

The TSX is looking a little better these days. Is the optimism too much too soon? I mean we have made quite an improvement here.

I for one wont fret for a marked increase in my financial health but calls for the end of THE END OF THE RECESSION are a bit premature. Hang on to your hats folks, the market is a wild ride.

The CBC have tracked the fall of the TSX in pictures. You can see the one month 17% carnage from several views around Bay Street and the Financial District. Hoping this horror story ended with October but a horrible sequel could be added in the months to come. I’m sure the Christmas decor is already lining the malls as I write this. Time will tell if the consumer hibernates this winter.

Damn! The TSX has been hard hit with the news that financial giant Lehman Brothers was becoming one the biggest bankruptcy stories in American history. Financial markets around the world are reeling with the news and some are calling the current situation the worst they have ever seen. Hard to believe that the TSX index has sunk into the 12,000 range after hitting highs around 15,000 in June. A 20% drop! OUCH!!!

With BCE, the world’s largest leverage buyout, a fading memory I shudder to think of what the index will do or look like under the Conservative plan to allow for more takeovers. This policy plan was shaped by findings made by a government appointed Competition Policy Review Panel.

The government appointed Lynton “Red” Wilson chair of the Competition Policy Review Panel and made the call for more foreign investment. Among the recommendations forwarded by Mr. Wilson, once a CEO of BCE, move the Industry Canada threshold from to investigate foreign investment from $295 Million to $1 Billion! The industries they would like to dissolve? Telecommunications, Airlines and Uranium mining. Hmmm! Considering Canada is one of the world’s largest sources and exporters of Uranium and Telecoms can basically print money in the age of the iPhone this hardly seems prudent. The airline industry has enough problems without further takeover talk. As a leader in at least one of these industries how does selling them off benefit Canadians or Canadian Markets?

The Conservatives, under massive public pressure, blocked the selling off of MDA but under the new proposed rules how many companies would disappear without the so-called watchdog looking? Remember that the MDA deal was the first ever blocked! Not calling for extreme protectionism here but the current trend in selling Canadian assets off doesn’t invoke scenes of sovereignty on the TSX, Alberta or the Arctic. Considering it’s been said that between 70 to 90% of mergers/takeovers fail it would be interesting to see whose lobbying dollars have been spent to push the sale of these industries. We’ll have to wait and see what happens to the TSX and what kind of government enters the fold after the upcoming election.