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28 May 2007
20 May was the 20th day of the eleventh month of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
20 May 2007
Reuters Canada - Toronto stocks continue record climb (18 May 2007) The TSX composite index ended in record high territory for a third straight session on Friday. The TSX closed at 14,105.34. The index is up 9.3 per cent so far this year From a Bloomberg News report on this: The TSX Composite Index rose to its seventh record this month, extending the rally to a third week with a gain of 0.7 per cent for the week. The index has advanced 5.1 per cent in May. A measure of telephone stocks rose 1.2 per cent on Friday, and is up 3.3 per cent this week, the most among 10 industry groups. Data on manufacturing and retail sales this week exceeded economists' forecasts. Canada's dollar had its largest gain in almost two months. 'Canada's on fire,' said Keith Summers, who helps oversee C$762 million as chief investment officer at Stonegate Private Counsel in Toronto.
The Globe and Mail - Retail sales fly past forecasts (18 May 2007) Canadian retail sales surged past expectations in March. Retail sales jumped 1.9 per cent to about C$34-billion, Statistics Canada said. 'Simply put, this report is much stronger than expected,' said Douglas Porter, the Deputy Chief Economist at BMO Capital Markets. 'The Canadian consumer is obviously quite alive, and quite well, thank you very much.' Mr Porter said the retail data, along with other strong reports released earlier this week, points to first-quarter economic growth of 3.5 per cent or more. Seven of eight of the retail sectors advanced during the month, pointing to widespread strength and suggesting the economy is in good shape. Economists agreed the March increase was widespread. Canadians hit all kinds of stores in March. 'No reason not to believe that domestic demand remains robust in this country,' said Stewart Hall, a market strategist with HSBC Securities (Canada). 'Employment has been frothy, the rate structure is at best in the mid range of rate neutrality, the housing market is not suffering from implosion, and equity markets are on a flyer.' From a Bloomberg News report on this: Canadian retail sales had the second-biggest gain in three years. Statistics Canada also reported this week that manufacturing shipments jumped 2.8 per cent in March, the fastest since January 2005, and sales by wholesalers in the first quarter grew at the fastest pace in three years. New car sales jumped 5.1 per cent in March. Sales of non-auto retailers jumped 2.8 per cent in the first quarter, the strongest quarterly gain on record for that group since at least 1991.
The Toronto Star - Currency hits highs not seen since 1970s (19 May 2007) It all started with what Doug Porter, deputy chief economist at BMO Capital Markets, called a 'rip-roaring report' saying retail sales surged more than twice as strong as economists had expected in March. The currency's gain came on top of a 0.43 cent rise Thursday on more news of the economy firing on all cylinders along with a better-than-expected inflation report for April. Canada's buoyant dollar reflects a booming economy. The TSX managed to breakthrough the 14,000 mark this past week, gaining 101.52 points. 'I think what we have from a big picture is we are still very clearly in an upward trend,' said Julie Brough, assistant vice president at Morgan, Meighen and Associates. From a CBC News report on this: The dollar jumped more than three-quarters of a cent to end the trading day at 91.79 cents US. It hasn't closed that high since October 1977. The Canadian dollar has been shooting steadily higher since January, when it was below 85 cents US. CIBC World Markets chief economist Jeff Rubin also sees room for the loonie to rise further. The more interesting story, he says, is that the Canadian economy so far seems to be successfully handling a dollar this high. 'We're looking at a 30-year-high currency and a 30-year-low unemployment rate, and that's not normally the way the Canadian economy has operated in the past,' he told CBC News. From a Globe and Mail reports on this: Strategists say fundamental factors—such as an economy that keeps defying expectations—are driving the gains. A stronger loonie is a vote of confidence in Canada's economy. From a Canadian Press report on this: The loonie jumped on news that Canadians enjoying secure paycheques went on a shopping spree. 'Essentially what's happened is we saw more strong economic data this morning with retail sales that comes on the heels of a very strong wholesale sales report that comes on the heels of very strong manufacturing shipments report,' said Marc Levesque, chief economic strategist for TD Securities. The Bank of Canada had expected growth of 2.5 per cent in the first quarter this year. But analysts now say the economy rose 3.5 per cent this quarter and will likely register stronger-than-expected growth in the second quarter as well.
The National Post - There are no flies on loonie's surge (19 May 2007) Canada has become the trendiest kid in the global economy. The loonie rocketed to its highest level in nearly 30 years, Toronto stocks keep shattering records, and it is now abundantly clear the economy is a lot stronger than anyone thought, including the Bank of Canada. Continued strength in the labour markets and relatively low interest rates have buttressed consumer spending. The TSX has risen 2,000 points over the past year. The big surprise has been the strength in the Canadian housing market and not just in the West. The strength continued into April, with average prices rising 9.5 per cent to a record. Statistics Canada also reported yesterday retail sales surged 1.9 per cent. The figures capped a string of stronger-than-expected data. 'You don't often see weeks where the broad-based sentiment changes, but this was a real watershed,' said Douglas Porter, deputy chief economist at BMO Capital Markets.
The Globe and Mail - BC, Alberta working to combine economic clout (19 May 2007) Geography makes Alberta and British Columbia neighbours, but the two western provinces are hoping to become much more: a single economic juggernaut. The provinces' cabinets met this week to discuss ways to continue strengthening ties. 'This is the strongest job-creation partnership in Canada and the strongest provincial partnership in Canada,' BC Premier Gordon Campbell said. Mr Campbell and Alberta Premier Ed Stelmach are particular proud of an interprovincial trade agreement. John Winter, president of the BC Chamber of Commerce, said that because the two western provinces' economies are red hot, it 'makes super good sense to do things together as one.'
The Toronto Star - May hotter than ever for resales (19 May 2007) Greater Toronto's hot, hot, hot resale housing market hit a new high in the first 15 days of May, registering the biggest mid-month sales total ever with 5,003 transactions reported, an 11 per cent increase over the same period last year. 'All signs point to a very healthy market for the remainder of the spring,' said Dorothy Mason, president of the Toronto Real Estate Board. 'There's a lot of confidence in this market.' The average time a home spent on the market fell in the first half of May to 28 days from 30 days in April and the ratio of listing to sales price came in at 99 per cent of the asking price. A strong condo market fuelled a 34 per cent hike in sales in the downtown Toronto and the Harbourfront areas, compared to the 2006 mid-May period. May's first half sales follow hot on the heels of the board's best ever single month in April.
The Toronto Star - A tale of two builders (19 May 2007) If you were only to consider scale, Tridel and Live Lightly Developments appear to be polar opposites. One's a corporate condo-building giant in the GTA, the other is a tiny outfit run by an environmentalist named Greg Bonser. But they share at least one part of the home-building spectrum—he green band. Talk with both for a while—which you'll get a chance to do next weekend when their latest projects go on display during the eighth-annual Doors Open Toronto—and you'll find two men who are convinced their initiatives are about to spark major changes in the industry. 'Ultimately, this kind of struck me as the point where change is happening in Toronto—when you get a big developer like Tridel and a small developer like Greg pushing the envelope,' says Nasrin, manager of research and development at Tridel. 'Tridel has really stepped up to the plate,' Bonser says. 'The rest of the industry will feel pressure. Tridel has such clout and power with suppliers and tradespeople.' What matters most to Bonser and Nasrin are the energy savings and consequent reductions in greenhouse gas emissions.
The Toronto Star - Three more solar farms set to be built in Ontario (18 May 2007) Ontario is getting three more massive solar farms, on top of four announced last month, and the companies behind the projects say more are on the way as long as the government keeps paying a premium for the clean power. SkyPower Corp. is building a 9.12-megawatt solar farm in Norfolk County. Meanwhile, OptiSolar Inc., which captured headlines last month after announcing plans to build four 10-megawatt solar farms at Sarnia, told the neighbouring community of Petrolia that two 10-megawatt farms are planned for their community as well. Together, the projects represent hundreds of millions of dollars of investment in Ontario and have the potential of supplying electricity to more than 30,000 homes. With 69 megawatts already announced, another 20 megawatts to come, and several projects in the pipeline, Ontario has put Canada on the map as a hot spot for solar development. The power authority estimated that the capacity of solar technology in the province would reach only 40 megawatts over the next 20 years. Based on current announcements, that target will be surpassed sometime in 2009 or 2010.
Canadian Press - NaiKun Wind Energy looking to build offshore wind farm in Hecate Strait (20 May 2007) NaiKun Wind Energy Group Inc. is looking to build Canada's first offshore wind farm off BC's north coast. NaiKun has a 550 square kilometre permit area within which they plan to build the first phase of the project, a 320 MW wind farm using 60 to 100 wind turbines. With an increasing focus on green sources of energy, wind power has been a hot sector in recent months. Toronto-based Ventus Energy Ltd. and Metis Energy Corp., formed a partnership earlier this year to build a $2.5-billion wind farm in the Labrador interior that would produce 1,000 megawatts. And last week, NB Power released a request for proposal for the purchase of up to 300 megawatts of wind-powered generation by November 2010 in New Brunswick. The request accelerates the crown utility's plan to add 400 megawatts of wind energy by 2016.
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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