If the Tory party were to enter a coalition with the Lib-Dems it would be short-lived. Cameron would want a mandate, so he would wait for the public's infatuation with Clegg to wane (and delay imposing some of the more draconian cuts that any new government will need), force through a policy that would sunder the coalition and go to the country again.
With Labour tearing itself to pieces in the wilderness and the Lib-Dems tarnished, the Tories would achieve a sizeable majority.
Then the fun will really start. To quote Will Hutton:
"The state will become a Conservative fiefdom, with even local police forces directly run by Tory politicians in the name of "democratic accountability". The City of London will not be reformed. Wealth will become ever more concentrated in fewer hands. Scotland, Wales and many English regions will be devastated by swingeing public spending cuts – almost their sole economic prop for the last decade – and by ongoing de-industrialisation.
"The management of an economy burdened by excessive private debt, fragile banks and a faltering economic recovery will be ideological. The prison population will grow even faster than under Labour as populist social repression intensifies.
"There will be some worthwhile improvements – the scrapping of ID cards and aspects of the Big Society programme which has been too quickly dismissed by liberal critics – but in the round Britain will become a meaner, less generous and more unequal society despite David Cameron's declared intentions. This will be Murdoch's Britain, with the BBC to be cut back and Sky's influence extended. Government will be in thrall to the right of centre press. The sale of our companies to the highest foreign bidder will accelerate..."
Still, there seem to be plenty of turkeys willing to vote for Christmas, like our Bonzo above.