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Good news report from Canada
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25 February 2007
22 February was the 22nd day of the eighth month of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
22 February 2007
Canadian Press - Corporations earn record high operating profits of $231.7 billion in 2006 (22 February 2007) Canadian corporations earned record-high operating profits of $231.7 billion in 2006, led by solid growth in the wholesale, retail, and construction industries. Fourth quarter operating profits of $59.7 billion were at record high levels after profits had shown a slight decline over the first two quarters of 2006.
Bloomberg News - Bank of Canada's Kennedy says economy will grow at capacity (22 February 2007) The Canadian economy will operate at capacity through 2008, and interest rates are at the right level to keep inflation at the central bank's target, Bank of Canada Deputy Governor Sheryl Kennedy said.
'The economy is strong, Canadians are working, and they have seen increases in wealth and income,' Kennedy told the Greater Saskatoon Chamber of Commerce on 22 February. Kennedy's fellow deputy David Longworth said 6 Feb. there's little reason for central bankers to cut the benchmark interest rate because economic growth is picking up.
Reports in the last two weeks have shown the highest job growth in eight months, retail sales rose in December at the fastest rate in nine years, December factory shipments rose twice what economists forecast, and the trade surplus widened for a second month. Canada's economic growth will accelerate to 2.6 per cent pace in the second quarter, central bankers said 18 January.
From a Reuters Canada report on this: Kennedy also said more work needs to be done to make Canada's securities regulation more simplified and efficient.
The Globe and Mail - Alberta reverses on single regulator (22 February 2007) Alberta's new government has thrown his support behind the creation of a single securities agency, reversing the province's long-held position, and rekindling hope that the logjam blocking reform of Canada's fragmented regulatory system can be removed.
Alberta Finance Minister Lyle Oberg said that the current system of 13 provincial and territorial regulators is out of step with the needs of market participants. He would like to see the process begin with the creation of one enforcement agency for policing the markets nationwide. Next, he said, he would like to see securities rules harmonized. Mr Oberg said the initiative ranks among his top five priorities.
Ian Russell, chief executive officer of the Investment Industry Association of Canada, which represents most of Canada's brokerage firms, said the change of heart in Alberta is 'hugely promising' and increases the chances Canada could see a national regulator.
Bloomberg News - Canadian stocks advance (21 February 2007) Canadian stocks rallied to their fifth record in six days. The benchmark is up 2.9 per cent this year.
From a Reuters Canada report on this: The TSX composite index closed up 10.63 points at 13,330.28 on 21 February, a record high close, surpassing the previous record closing high of 13,319.65 set on 20 February.
The Globe and Mail - Bankruptcies fall — even for factories (22 February 2007) Canadian bankruptcies tumbled last year and more defaults aren't expected in the coming year, a report said on 22 February.
Business bankruptcies shed 10.3 per cent last year, while consumer bankruptcies fell 6.4 per cent. Even among manufacturers, which saw layoffs and plant closures, bankruptcies fell more than 18 per cent last year.
Delinquency rates aren't expected to deteriorate this year, given Canada's robust labour market, which continues to create jobs. 'There is little risk of any significant deterioration in the bankruptcy situation in the near future,' said Benjamin Tal, the CIBC economist who wrote the report. In addition, mortgage arrears in Canada are at a record low.
Canadian Press - Canadian consumer 'spending spree' seen heralding economic revival in 2007 (21 February 2007) 'The stellar employment environment is putting Canada in a spending mood,' Bart Melek, a senior economist with BMO Nesbitt Burns wrote in a report. 'Consumer strength in Canada along with steady growth south of the border also implies that the Canadian economy may perform better than expected in 2007.'
Peter Woolford, a vice-president with the Retail Council of Canada, said people are confident in the security of their jobs. 'Strong employment growth is probably the single most important determinant in retail sales,' Woolford said, while other positive factors include tax cuts, increased disposable income and stable interest rates. 'All of that lines up to create a very solid economy and a very confident consumer,' Woolford said.
Canadian Press - US to drop passport requirement for kids at border crossings (21 February 2007) Children under 17 will be excused from a controversial law requiring visitors to show a passport at US land borders by 2009, US State Department sources told The Canadian Press. The move would simplify cross-border travel for families, sports teams, youth groups, and school field trips.
'The government has been working vigourously with the Americans to have children exempted,' said Melisa Leclerc, a spokeswoman for Public Safety Minister Stockwell Day. 'We are pleased to see that our efforts have resulted in the Americans agreeing.' Two State Department sources said other announcements—including a possible exemption for seniors—could follow.
The Saskatoon StarPhoenix - The greening of the electorate (22 February 2007) Six months ago, the environment barely registered on the radar of public concern in Saskatchewan. When the provincial government asked people in a wide-ranging poll last summer to choose their top concern, the environment didn't even show up. Population loss was mentioned most often, followed by the economy, health care, jobs, and agriculture. When they were asked about the state of the natural environment, most people seemed to believe it was doing just fine.
Today, national polls suggest the environment has knocked health care out of the top spot. The environment has shot up in the public consciousness in the past six months and climate change has come to dominate the news agenda and thus public attention. The idea that we have to save the planet for future generations is a conviction that no longer animates only the environmental lobby groups; it's going mainstream.
The Toronto Star - Deep thoughts needed to set tone at community council, Kelly says (22 February 2007) It's time to flavour the proceedings of Scarborough community council with a little wisdom, says council chair Norm Kelly. To that end, Kelly wants to invite distinguished religious leaders and other serious thinkers to offer some thoughts to councillors at the start of each meeting.
'It's designed to bring in not only leaders of the various faiths—which we're increasingly putting at arm's length from government—but also writers, authors, philosophers,' said Kelly. 'People who have wisdom to impart to governments.'
'A council meeting is more than just the physical agenda that you have in front of you. There should always be a context in which that agenda should be approached,' Kelly said. '...you can compartmentalize life too much. You can silo yourself too effectively. This, I think is a small way of trying to treat issues holistically, or to give them a holistic feel or expression.'
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
For further information on creating invincibility for your nation, please visit: www.globalgoodnews.com/invincibility.html
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