“The world is entering an economic period as dangerous as anything we have faced since 1929.”

The PM comes around on deficit financing – then promptly sticks his head in the sand by delaying a stimulus package until February.

Smoke signals

Cannabis charges against medical pot activist and NOW contributor Matt Mernagh were weirdly withdrawn Wednesday, November 19. Did the feds just blink? We’re left with plenty of questions about why the cops busted Mernagh and a roommate in the first place. The whiff we’re getting is that a tip about bud on a balcony may have made the hopped-up crew from 51 Division so eager, they entered the apartment without a warrant. Mernagh, who suffers from fibromyalgia and scoliosis, spent 13 days in the Don. The cops are releasing their ever-ballooning operating budget for 2009 today. Maybe the chief can twist some savings out of pot enforcement. They seem to have money to burn.

The danger on Dovercourt

The recent horror show on Dovercourt involving cyclist Chris Kasztelewicz, who lost his right leg in an altercation with a cab driver, has focused attention on the driving habits of cabbies. Veteran urban cyclists know they’re not any worse than most motorists. But it’s also well-known in bike circles that narrow Dovercourt is one of the least comfortable streets to ride. Pedestrians and cyclists are constantly put at risk by speeding traffic encouraged by the absence of stop signs from College to Queen. Many have been expecting some sort of traffic tragedy on Dovercourt for years.

Magic bust

We almost choked on our morning coffee when we heard TTC chair Adam Giambrone proclaim that the biggest boost in bus service in more than three decades will mean riders won’t have to wait more than 30 minutes for a bus. Cold comfort for poor bastards waiting for a ride in the reaches of Scarborough during one of those winter wallops.

Jackson Pollock Beach mystery

A curious scene has been unfolding at Gallery Delisle on Queen East, where last week, a Jackson Pollock once purchased for $5 at a thrift shop in San Bernadino, California, was alledgedly the target of thieves, according to gallery owner Michelle Delisle. Cops say it was a false alarm. Talk about adding to its mystique. It’s not quite clear if the painting is an actual Pollock. Art experts in the U.S. say it isn’t, but a Canuck art conservator says it’s for real. The painting has since been moved to a secure location, where it’s viewable by appointment – for interested buyers only, of course. Asking price: $50 million. The alleged attention of thieves might have just upped that.