The results are not fully tabulated, but we can safely say that the Conservative Party has swamped the Liberal Party in the Canadian elections held on October 14th. The Canadian election results fall short of the 155 majority needed for the conservatives to run the government outright without a coalition, but they extended their dominance in parliament by at least 17 seats.

The results are not unexpected. In fact, Canadian Prime Minister Stephen Harper called for elections expecting to finally reach that super majority, but he made the strategic decision before the global financial meltdown. Just as bad news helps Barack Obama, the same is true in Canada. Although it did not help one minor party leader who perhaps amusingly ran on a platform of “change” after drawing inspiration (but apparently not votes) from Obama.

Nevertheless this result can be seen as nothing less than a punishing defeat for the Liberal Party and a spectacular triumph for the Conservative Party, which is the first majority government to face election since the market turmoil began. They will again form a coalition government with the regional party in Quebec, needing just 10 votes from minority parties.

Globally, the conservative renaissance continues among the western democracies. Conservatives are sweeping to power in UK elections, controlling the governments in Germany, France, and Italy, and the entire former eastern block. Meanwhile liberal stock is falling again in Spain and Australia where they cling to power by a hair.

What is happening is a voter flight from socialist-style economies which are now recognized as crippling economic growth under punishing taxation and government control over the instruments of production. After decades of economic stagnation resulting from national programs, such as socialized health care, people are looking again for new market-oriented answers. See the conservative triumph in the Canadian elections in this light.

The most glaring exception to the global tendency is in the United States, in which the liberal party Democrats assumed power in Congress from the conservative party Republicans during the 2006 congressional elections. Public opinion polls reveal that U.S. voters are not yet holding the party accountable for economic policies in the current economic turmoil.

Meanwhile, we are including a well-choreographed video from Liberal Party advocates in Canada. It is an instructive video as it shows that the animosity currently infecting liberal political circles is not restricted to the United States.

Canadian Election Results Reaction (Video)