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Good news report from Canada
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6 June 2008
12 May was the 12th day of the eleventh month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
12 May 2008
CBC News - TSX closes at record high (12 May 2008) The benchmark index of the Toronto Stock Exchange closed at an all-time high Monday. The TSX composite index was up 145 points, or 1 per cent, to end the trading day at 14,666, shattering the previous high close of 14,625 reached on 19 July last year. Since the recent market bottom in late January, the TSX composite index has risen more than 22 per cent. Since the start of the year, the TSX market has jumped 6.1 per cent.
From a Globe and Mail report on this: George Vasic, strategist at UBS Securities Canada, said the perception that Canada's markets are being driven upwards by high commodity prices is certainly true, but even without the resource sector stock prices have strengthened substantially. Resource and commodity stocks are merely amplifying a recovery that is quite widespread, he said.
The Canadian Economic Press - Canadian economy doing well despite challenges, BMO's Porter contends (12 May 2008) A senior Canadian economist expressed frustration over what he described as 'scare stories' in the media about the state of the country's economy. 'We know that bad news sells, but this is ridiculous,' said Bank of Montreal deputy chief economist Doug Porter. 'There's been more hand wringing of late than on wash day during a power outage in rainy season.' The reality is that inflation in Canada is under control, incomes are rising, government budgets are in the black and there are plenty of jobs to go around, said Porter in a note he titled '10 Reasons to Feel Good about the Canadian Economy'.
The Financial Post - 10 Reasons to feel good about the Canadian economy (12 May 2008) Bank of Montreal deputy chief economist Douglas Porter gives 10 reasons to 'feel good' about the Canadian economy:
1. Low inflation: Canada's overall inflation rate has dropped in the past year to just 1.4%, the second lowest in the world. Despite the latest sprint in gas prices, headline inflation is still likely to remain below 2% over the next few months because grocery store prices have dropped in the past year, and the loonie [popular name for the Canadian dollar] has helped hold many goods prices in check.
2. Strong income growth: Low inflation at a time of solid wage increases has translated into some very hefty real wage gains for Canadians in the past year. Average hourly wages rose 4.3% year-over-year—nearly 3 percentage points faster than inflation.
3. Strong job markets: Employment is up 2.1% in the past year, topping the pace of the prior five years. The share of the adult population with a job was 63.8% in April, just 0.1 below the all-time high set in the first quarter.
4. . . . even in Ontario: Job growth in Ontario has perked up to 2.2% in the past 12 months, above the national average and one of the strongest performances of the past four years.
5. Budget surpluses: Ottawa's surplus stood at C$12.9 billion in the first 11 months of the 07/08 financial year—barely down from the level one year ago.
6. Trade surpluses: Supposed to be the Achilles' heel of the Canadian economy this year due to sagging U.S. demand and the high-priced loonie, the trade sector. The trade surplus has actually widened this year, thanks to soaring commodity prices.
7. A strong equity market: In contrast to hefty declines in many major markets, the TSX is up more than 5% since the start of 2008. [6.1 per cent with Monday's gain on the TSX.]
8. No real credit crunch: There still is little sign that the global credit crisis is impacting Canada. Business and household credit has risen at a 9.9% average annual rate across the board since the credit crisis broke, virtually unchanged from the 10.0% pace in the prior period.
9. Record auto sales: With access to credit, declining borrowing costs, strong job growth, and dropping Canadian prices and taxes, the forecast for auto sales is healthy, climbing 6% so far this year to a record high.
10. Healthy housing markets: The days of nationwide double-digit increases in sales and prices are behind Canadians. But average prices are still expected to edge up this year and housing starts are likely to stay well above 200,000 units.
Porter's Bottom Line: 'The glass is much more than half full in Canada; the global economy is in a lull in the middle of one of the greatest booms on record. . . . Canadians should instead be embracing the world of opportunities that await.'
The Toronto Star on 'Green' fix urged for Ontario jobs (12 May 2008) Turning Ontario's vanishing blue-collar manufacturing jobs into stable, well-paying 'green-collar' employment in the emerging green economy should be central to poverty-proofing the province, says a report by anti-poverty group Campaign 2000, the Toronto Labour Council and the Ontario branch of the Canadian Labour Congress. Instead of wringing hands over lost manufacturing jobs, the report calls on the provincial government to turn Ontario into a manufacturing hub for new green industries. The report welcomes the province's recent decision to fast-track its Next Generation Jobs Fund with C$1.5 billion for support to companies that produce green products or save energy.
The Globe and Mail - Doing good, on company time (12 May 2008) As reports about the devastating cyclone in Myanmar came out, the e-mails in Gavin Thompson's Inbox started piling up. The messages all echoed a similar tone: How are we getting involved? 'They'll start asking for time off to go to Myanmar pretty soon,' said Mr Thompson. 'We see this all the time with disasters of this scale.' When the deadly tsunami swept across much of south Asia in 2004, 'we had employees here who were out ahead of the relief organizations.' Mr Thompson doesn't work for a charity or an NGO. He's the director of community affairs at Microsoft Canada, one of dozens of Canadian firms that have begun offering employees paid leave to volunteer in troubled regions around the world. And that's above and beyond their vacation time. Not long ago, the sum of a corporation's generosity was scribbled on outsized cheques. But in the past five years, corporate giving in Canada has undergone a sea change. 'Employees want to get involved,' says Wendy Mitchell at Volunteer Canada, a non-profit that links companies with charitable opportunities. Microsoft Canada grants every worker 40 paid hours a year to volunteer wherever they want. 'This is the best benefit I've ever received at any company,' says Paul Patinios, who spent his 40 hours at an elephant rescue centre in Thailand last year on Microsoft's dime. According to Volunteer Canada, roughly 55 per cent of Canadian companies now offer some kind of paid leave for volunteering.
The Canadian Press - Charest's emphasis on collaboration, not combat, lauded (12 May 2008) Quebec Premier Jean Charest frequently touts his parliament as a place of cohabitation, where the government and opposition work together to write the budget and keep committees running. The atmosphere in Quebec is collaborative. 'The consensus he's developing in the assembly is also developing in the province . . . ,' said Lowell Murray, a member of the Senate in Ottawa.
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.
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