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Good news report from Canada

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17 June 2008

30 May was the 30th day of the eleventh month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

30 May 2008

Bloomberg News on Canadian stocks rise for second month (30 May 2008) Canadian stocks rose on Friday, pushing the main stock index to its biggest two-month gain in six years. The TSX Composite Index added 137.56 points, or 0.9 per cent, to 14,714.73 in Toronto. The Canadian benchmark had a second-straight monthly gain of more than 5 per cent, its strongest back-to-back advance since the end of 2001.

The Canadian Press on Finance Minister confident on economy (30 May 2008) At a meeting with provincial finance ministers, Federal Finance Minister Jim Flaherty, with the majority of his provincial counterparts agreeing, insisted Canada won't slide into a recession despite a first quarter contraction in real gross domestic product. 'If you were in the meeting, you'd be impressed by the optimism around the table,' he said. 'Yes, there's slowness in the auto sector . . . forestry sector. But the strengths of the economy across the country [are] quite remarkable.' Quoting a private sector analysis, Flaherty noted the auto sector centred in Ontario is due for a sustained recovery later this year. 'There's some brightness on the horizon and certainly reason for confidence,' he said. Flaherty commented that the rest of the economy is doing well with 120,000 jobs created in the first four months of 2008, wage increases at an annual rate of 6.2 per cent, and corporate profits rising by 9.9 per cent.

From a Globe and Mail report on this: The Statistics Canada report showed the economy would have expanded slightly but for a decline in auto sector production. 'The overall picture of the Canadian economy is that it is solid, it is strong,' Mr. Flaherty said. The services side of the economy grew 2 per cent in the quarter. Consumers were still showing considerable strength, with final domestic demand rising 2.3 per cent, annualized. Final domestic demand has been driving the Canadian economy for the past year.

The Canadian Economic Press - Negative GDP isn't the full picture of Canadian economy, some economists say (30 May 2008) 'While the opening months of 2008 showed an annualized 0.3% decline in the Canadian economy's production output, the value of the goods that were produced has risen significantly,' said BMO economist Sal Guatieri. 'Our national income is growing quite strongly as a result and that ultimately sustains domestic spending,' he said. 'If we look at a lot of measures of economic wellbeing, things look pretty good. Employment is still rising, consumer spending is fairly healthy, business investment is still growing and real incomes are growing quite strongly as a result of the commodities boom and retail discounting.'

From a Canadian Press report on this: The western provinces are booming because of high commodities prices, as well as soaring demand for them. In addition, Canadian consumers continue to spend because of low interest rates and a still-strong housing market. 'We've got relatively strong domestic demand, we have strong profit growth which means strong government revenue growth,' Aron Gampel, deputy chief economist at Scotia Economics, said. 'All of which says that the economy is actually doing better than what these (Statistics Canada) numbers suggest.'

The Globe and Mail - Canada's current account soars (29 May 2008) Canada's current account with the rest of the world soared into a big surplus in the first quarter of 2008, rising to C$5.6 billion because of higher commodity prices, Statistics Canada said. This was almost double economists' projections of a $2.9 billion surplus. The current account measures Canada's transactions in goods, services, investment income, and current transfers, and the surplus is a broad measure of how much the world owes Canada. 'Canada's current account blew the barn doors off expectations,' said economists at Bank of Nova Scotia. Much of the current account surplus in the first quarter was because of a surge in the goods surplus.

From the Statistics Canada report: The goods surplus widened to C$13.4 billion during the first quarter, up strongly from the previous two quarters. Exports of goods reached $116.7 billion in the first quarter, growing 5% from the previous quarter.

From a Canadian Press report on this: 'The merchandise trade surplus actually had one of its biggest quarterly improvements on record in the opening months of this year,' said BMO Capital Markets deputy chief economist Doug Porter.

CBC News on Canada signs free trade agreement with Peru (29 May 2008) The Canadian government signed a free trade agreement (FTA) on Thursday with Peru, setting the scene for it to be tabled in Parliament. If all goes as planned, the South American nation will join a roster of Canadian free-trade partners that includes the US, Mexico, Costa Rica, Chile, and Israel. 'Immediately on implementation of the FTA, Peru will eliminate tariffs on 95 per cent of current Canadian exports, with the remaining tariffs to be eliminated over a five- to 10-year period,' a Canadian government statement said. In the other direction, Canada would immediately scrap 97 per cent of its tariffs on Peruvian imports, while the rest would be eliminated over periods up to seven years.

From a Reuters Canada report on this: Peru, one of the fastest growing economies in the world, mainly exports metals and farm products such as artichokes and asparagus, and the trade deal is expected to bring Peruvians lower prices for manufactured goods such as cars and electronics. Also, Peru imports most of the wheat it consumes and hopes to buy it at lower prices from Canada. 'Canada is a huge market that we can enter, not just with our gold and metals but also with our textiles,' Peruvian President Alan Garcia told reporters at the presidential palace where the deal was signed.

The Toronto Star - UN to play mediator in Arctic disputes (29 May 2008) Canada and four other Arctic nations promised to politely settle disputes over resource-rich Arctic territory that have previously stirred up diplomatic storms. Natural Resources Minister Gary Lunn and politicians from Denmark, Russia, the US, and Norway agreed to let the United Nations resolve their claims to the ocean floor. They agreed to work out their differences under the 1982 UN Convention on the Law of the Sea. They also agreed to work co-operatively on environmental concerns in the Arctic, where warming temperatures and melting ice are leading to a dramatic increase in human activity and threats to the fragile environment.

From a Bloomberg News report on this: The UN will accept scientific data from the five countries until 2014 and then decide on the ownership.

The Associated Press - 111 countries adopt landmark treaty banning use of cluster bombs (30 May 2008) Diplomats from 111 countries (including Canada and most NATO states) formally adopted a landmark treaty banning cluster bombs on Friday. It requires signatories not to use cluster bombs, to destroy existing stockpiles within eight years, and to fund programmes that clear old battlefields of dud bombs. Norwegian Deputy Defence Minister Espen Barth Eide said he was confident that the treaty would discourage the countries that didn't sign from using the weapons. Cluster bombs lay a carpet of explosions across a wide area. They often come at a terrible cost to civilians afterward, including farmers who strike unexploded 'bomblets' in their fields or children who mistake the objects for playthings.

From a Canwest News Service report on this: The ban will make the weapons politically prohibitive for non-signatories, said Paul Hannon, Executive Director of Mines Action Canada, one of a number of non-government groups at the negotiations held in Dublin, Ireland. Hannan said Canada, which played a lead part in the Nobel Prize-winning initiative to strike a land-mine ban treaty in 1997, has played an effective diplomatic role in the Dublin talks.

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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