There’s a point where politics intersects with your money. We crossed it last night. In case you missed it, the latest polling shows that seven days from now Jack Layton will be prime minister.

Well, almost. Here’s the scenario, according to Ekos Research – Harper 131, Layton 100, Ignatieff 62, Duceppe 14. To govern with a reduced minority, the Conservatives would need the support of either the Libs or the Dippers, since the Blocheads are now a spent force. But, of course, Stephen Harper’s already had a five-year-long chance, so kiss that goodbye.

Infinitely more likely, Iggy eats his ego in return for Liberal cabinet seats in an NDP-led government. The guy with the stick and the stache gets the corner office on the third floor of Centre Block.

A month ago this was unthinkable. A week ago it was merely absurd. But in the wake of abysmal, bereft-of-testosterone, wooden campaigns by the main parties, Layton suddenly smells like the only choice for a lot of people. Especially in Quebec, where separatism’s fini.

But credit where it’s due. Jack Layton, recovering from hip surgery and prostate cancer, has looked like a prizefighter compared to his opponents. He’s connected with younger voters by knowing what a hashtag is, run a far superior campaign to Ignatieff’s and is now benefiting immensely from being the target of attack ads from both the Libs and the Cons. Besides, he’s the little guy – just perfect for a pissy nation.

But what would a Layton-led government do to the economy, housing, jobs and the markets?

Well, here is the NDP platform. As of 8 pm last night, it’s required reading. The Dippers plan to increase federal spending by $9 billion in the first year, then $12 billion and up to almost $15 billion by 2014-5. Big ticket items would include giving $1 billion to small businesses that create jobs, another billion to family caregivers, a billion for childcare, $700 million in removing federal taxes off home energy, $1.3 billion extra for education, and a host of other initiatives.

The green agenda would cost $3.5 billion extra in the first year, and be paid for entirely by a cap-and-trade system. This imposes a tax on emissions, through establishing emission limits by industry. Companies which achieve or exceed targets can sell credits to those who don’t. So, you either comply with stricter pollution guidelines, or you buy your way out of them. This is expected to raise $3.6 billion in year one and $7.4 billion in 2014.

Of course, those cap-and-trade billions have to come from somewhere. That’s corporate earnings. Economists think that will gut job creation. Market watchers think it’ll suck off earnings and crash stock prices. Environmentalists say, thank God. Or Jack. Whatever.

As for those non-green expenditures of $9 billion and up, the NDP would pay for them in two major ways: Raise corporate taxes to 19.5% (that’s an increase of about 18% from current levels), plus end subsidies to oil producers. Together those would bring Ottawa another $8 billion.

Of course, people in the Alberta patch will tell you it would virtually shut down the oil sands. Combined with the emission targets on existing heavy oil producers, they say, it would be lights out for companies like Suncor. At least then this blog would be spared emails from 30-year-old engineers making $170,000 a year in desperate Fort Mac.

So, in summary, the Dippers have promised – if elected government – to spend about $13 billion a year more than now, and to pay for it with $12.6 billion in new taxes in 2011-12, rising to $15 billion in taxes by 2014-5.

Now if this is what most people want, that’s what they’ll get. I’m not being judgmental, because both the Libs and the Cons have let people down dramatically, not only in this campaign but over the last two do-nothing years.

But Prime Minister Jack Layton, even tempered a bit with Liberal partners, would send a signal to the world that Canada has flipped. At a time when governments are trying to cut spending, unshackle business investment, tackle obese deficits, lower taxes and desperately create jobs, we’d suddenly turn into a giant Denmark with too many beavers. And Tims.

Likely results: a big drop in the dollar and a big jump in interest rates. Alberta could be a wilderness park while Ottawa could swell to be a province. And just imagine how all those house-horny Chinese in BC would feel about escaping communism to enter Laytonism.

Oh, and we could all stop bitching and moaning about the date of the real estate bust.

It’s Monday.