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Good news report from Canada
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5 October 2007
27 September was the 27th day of the third month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
27 September 2007
The Globe and Mail - Ottawa pledges tax cuts as surplus soars (27 September 2007) The Canadian government racked up a monster surplus of about C$14 billion for the last fiscal year. Ottawa said it has used the surplus to retire national debt, as required by law, and will funnel the C$725 million interest saved as a result to taxpayers through tax cuts as promised in March. That surplus far exceeds the C$9.2 billion forecast in the spring budget. The extra funds, Finance Minister Flaherty said, are courtesy of boom times on Bay Street [the centre of Toronto's financial district]. The budget surplus defied expectations 'largely because of the unanticipated, higher corporate tax receipts at the end of the fiscal year,' he said. 'The context for that, by the way, is that corporate profits in Canada are at an all-time high.'
From a CTV News report on this: Prime Minister Harper and Finance Minister Flaherty credited the surplus to a strong economy bringing in higher revenues and spending that was C$700 million lower than projected in the March budget. Harper said paying down the debt is an investment in Canada's future, and serves as good news 'for the taxpayers of our future, our children, and grandchildren'. The surplus, C$13.8 billion, amounts to one per cent of GDP. When combined with incomes from Crown corporations, the debt payment becomes C$14.2 billion—the largest in federal history. 'We should all be proud of Canada's strong economic performance over the past year,' Flaherty said.
From a Bloomberg News report on this: Canada's federal debt was 32.3 per cent of GDP at the end of March, the lowest in 25 years. The government has pledged to reduce that to 25 per cent by 2013.
From a CBC News report on this: The budget surplus for the 2007-08 fiscal year is also heading for the stratosphere. In August, the Finance Department acknowledged that the surplus would top its original C$3 billion projection. For just the first three months of the new fiscal year, Ottawa has already pegged the surplus at C$6.4 billion.
Reuters Canada on Canadian stocks rise for fifth day in a row (27 September 2007) The TSX composite index closed up 94.76 points at 14,129.73 on Thursday. The index is up 2.1 per cent in five days. Its last five-day winning streak was in May. Adding further lift to the market, Canada reported a bigger than expected C$13.8 billion budget surplus, reinforcing the view that the country's balance sheet remains strong. 'With that kind of budgetary gain, it gives you an indication that our economy is performing quite well, and so that increases confidence,' said Fred Ketchen, director of equity trading at ScotiaMcLeod. 'You would want to be where the strength is, and at the present time the strength obviously seems to be here.' Seven of the TSX index's 10 main groups were higher, including a 1.2 per cent gain in materials. Heavyweight bank stocks joined commodity issues on the upside, with the financial sector up 0.6 per cent. The sector has risen for three straight days, gaining 2.4 per cent.
From a Canadian Press report on this: Stock markets have roared back to life since tumbling last month, with the TSX up over nine per cent year to date.
From a Bloomberg News report on this: 'The tone is better. Markets are settling from the subprime volatility,' said Greg Eckel, who helps manage the equivalent of C$1.3 billion as a fund manager at Toronto-based Morgan Meighen & Associates. 'It's good to see it's pretty broad-based.'
Canadian Press - Urban home prices continue rising strongly, Royal LePage reports (27 September 2007) Home prices in major Canadian cities continued rising strongly through the summer, Royal LePage Real Estate Services reported. The company's third-quarter survey of the resale market in 16 cities found that on a national basis the average condominium price increased 15.7 per cent from a year earlier, while standard two-storey properties gained 13.4 per cent and bungalow prices were up 14.3 per cent. Saskatoon had the most dramatic year-over-year price appreciation—over 60 per cent—while a typical two-storey house appreciated 55 per cent in Saint John, New Brunswick; 27 per cent in Fredericton; 26 per cent in Edmonton; 17.5 per cent in Calgary; 17 per cent in Regina; 15 per cent in Winnipeg; and 11 per cent in Vancouver. The survey found that 'Central and Eastern Canada are now rising alongside their western counterparts as their local commodity industries receive increased attention.' Toronto's housing market 'continued to set records throughout the summer,' with a typical two-storey house rising nine per cent.
Bloomberg News - Small-Business Confidence Rose in Third Quarter On Higher Consumer Demand (27 September 2007) Canadian small-business confidence rose in the past three months, as consumer demand grew and companies were insulated from the turmoil in financial markets, an industry survey showed. The Canadian Federation of Independent Business's quarterly barometer was 108.4 in September, from 107.3 in June. Fifty-one per cent of managers said their businesses will do better in the next year, from 49 per cent in June. Small- and medium-sized companies seem unaffected by the turmoil in credit markets, the report said. The 6 per cent surge in Canada's currency since July, bringing it to parity with the U.S. dollar, hasn't affected most businesses, the report showed. Fifty-two per cent said they have no preferred level for the dollar, while 27 per cent said they'd rather a weaker currency and 21 per cent said they'd prefer it to be stronger. The business group surveyed 1,657 members from 6 Sept to 14 Sept.
The Globe and Mail - Alberta opens gate to wind power (27 September 2007) Alberta has removed a cap on wind power production, Alberta Energy Minister Mel Knight said. The limit was put in place last year by the Alberta Electric System Operator (AESO), whose studies showed that because wind is intermittent, wind power could cause problems. Now, however, AESO feels the province will be able to move beyond the limit, thanks to more accurate wind forecasting, geographic diversification of wind farms, and the installation of controls on wind turbines to avoid power surges when the wind is too strong. About 500 megawatts of wind power are now produced in Alberta, with another 500 megawatts set to be added by year end. Mr Knight said he'd like to see wind power in the province generate up to 15 per cent of total electricity production from the year-end 2007 estimate of 4 per cent. New transmission lines are planned to link wind farms in southern Alberta to the main grid.
From a Reuters Canada report on this: The move is aimed at kick-starting about C$6.6 billion of planned projects. Producers have announced plans to add another 5,500 megawatts of capacity over the next several years and 3,000 MW of that is in advanced planning stages. AESO and the Canadian Wind Energy Association launched the country's first sophisticated wind study early this year and the industry now believes it has addressed reliability issues.
CBC News - First Nations seek business opportunities (27 September 2007) First Nations leaders in New Brunswick are joining with private businesses in the province to find new ways to foster economic development. The Atlantic Policy Congress of First Nations Chiefs, representing 33 native communities in Eastern Canada, is meeting at St. Mary's First Nation in New Brunswick this week. The steering committee has already met with 60 representatives. The main focus of the meetings has been pooling resources to encourage more First Nation communities to generate their own income instead of relying on government money. That independence is part of a new attitude in the First Nations circle, said John Paul, executive director of the congress—'to create economic opportunities that exist here in St. Mary's and other communities so we have a way forward that makes sense, that isn't dependent on government, that isn't dependent on anybody'. St. Mary's First Nation already has a supermarket and its own radio station. The First Nation accepted a land claim settlement earlier this year that allows it to purchase 66 hectares of land anywhere in the province for business development.
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.
Copyright © 2007 Global Good News(sm) Service
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