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Good news report from Canada

Global Country of World Peace    Translate This Article
19 October 2008

8 October was the 8th day of the fourth month of the 3rd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

8 October 2008

The Financial Post - Home building stays resilient in Canada (8 October 2008) Housing construction in September moved unexpectedly higher, to an annualized rate of 217,600 new units, Canada Mortgage and Housing Corp. (CMHC) said. 'Housing starts remained at a high level in September, with construction activity again staying above the 200,000 unit threshold,' said Bob Dugan, chief economist at CMHC. Higher starts of multiple family homes such as condominiums and townhouses (up 5.5 per cent) were behind the rise in new home construction activity.

In general, construction rose 2.8% month-over-month across the country representing the second rise in a row. By province, British Columbia saw the most activity, with 33,600 new starts. Construction on new homes moved markedly higher in the Prairie provinces of Saskatchewan and Manitoba as well. Atlantic Canada also witnessed a rise. Economists had forecast housing starts to drop to an annualized rate 209,000 for the month.

From the Bloomberg News report on this: The September data represents 'a bullish reading on the Canadian economy in the short-term. . . ,'' said Derek Holt, an economist with Scotia Capital in Toronto.

CBC News - Canada to lead G7 in GDP growth in '09: IMF (8 October 2008) Canada will lead the other G7 countries in economic growth in 2009, according to a new IMF study. The International Monetary Fund said this country should see economic growth in the range of 1.2 per cent next year, the best performance among Japan, the United States, Italy, France, Germany, and the United Kingdom.

Canwest News Service - Canada will still skirt recession, according to forecasts (8 October 2008) Close, but no recession. That was the good news Wednesday. RBC, Canada's largest financial institution, forecasts growth this year of 0.9 per cent, but projects a rebound to 1.5 per cent in 2009. 'However, this pressure on our growth will be tempered by strong commodity prices which are contributing to robust export revenues and providing support to Canadian domestic spending via a boost to incomes,' said RBC's chief economist Craig Wright. Canada has also enjoyed strong growth in national income, which has boosted consumer spending, business investment, and purchase of imports, and is benefiting from what are still relatively high commodity prices, RBC said.

The Canadian Press - Rate cuts, relatively good housing and economic news lift Canadian outlook (8 October 2008) A big interest rate cut from some of the world's most influential central banks, including the Bank of Canada, has breathed a little calm into stock markets. There are also indications of health in the Canadian economy, with numbers suggesting the housing sector is still relatively robust and a report from the International Monetary Fund that Canada will lead the G-7 in growth next year.

The Financial Post on economists for Canada's top banks give views on economy (7 October 2008) Hundreds of financial and business professionals, including economists from the country's top banks, packed a panel discussion in Toronto Monday on the state of Canada's economy. From the discussion, Avery Shenfeld, Senior Economist, CIBC World Markets: 'In Canada, we're looking at a 6.1% unemployment rate—that's not far from a multi-decade low and in terms of the share of the population that's working, it's not that far from an all-time high. So Canadians are still quite gainfully employed, almost surprisingly so given all the jobs we've lost in manufacturing.'

From a Toronto Star report on this: Canada's top bank economists say Canada—its housing market, corporate balance sheets, labour market, export earnings, and government finances—are in better shape than in other nations The economists expressed confidence in the Canadian banking and financial system, the record of prudence in lending, and the ability of the economy to return to growth.

From a Financial Post report: Derek Holt, vice-president of economics at Scotia Capital, said the state of Canadian public finances are much improved. Canada's debt-to-GDP ratio has fallen to roughly 29%, from its peak of 68.4% in the mid-1990s. 'This time around, we are the poster child of fiscal health across the industrialized economies,' Holt said.

The Canadian Press on consumer spending (7 October 2008) Pedro Antunes, director of national and provincial forecasts at the Conference Board of Canada, said gas prices are falling, which is good news for consumers. 'If you look economy wide what has been supporting growth in Canada over the last five years, the consumer has been a pillar,' said Antunes. 'It's hard to slow that spending down, there is still a lot of momentum in the economy.'

The Canadian Economic Press - Fewer Canadian consumer bankruptcies reported in August (8 October 2008) The number of consumer bankruptcies in Canada fell to 6,977 in August, down 6.4% from the previous month, according to figures released by the Office of the Superintendent of Bankruptcy Canada. The report also showed that during August, 1,811 individuals filed proposals to rearrange their finances and avoid bankruptcy. That figure was down 13.4% from July. Also in August, 105 companies filed proposals, down 7.1% from July.

Canwest News Service - Harnessing the power of tides (7 October 2008) The power of the tides will be demonstrated in a new project scheduled for completion in 2009 in the Bay of Fundy. The Nova Scotia Power project will be the first time in this part of the world 'that utility-size in-stream tidal turbines will be on the grid,' says Margaret Murphy, the utility's spokesperson. 'That's why it's so significant.'

In the in-stream tidal technology, underwater turbines—similar to underwater windmills—take advantage of natural tidal flows The Bay of Fundy, with its fierce tides and 100 billion tonnes of seawater flowing in and out each day, has been identified as 'the most effective site for tidal power generation in North America,' according to the Nova Scotia Department of Energy.

In-stream tidal technology has the potential to generate 300 megawatts of green emissions-free energy from the Bay of Fundy—enough energy to power 100,000 homes. The key factors about tidal power are its environmental friendliness and its consistency, say its proponents. That predictability is one of tidal power's greatest advantages, Ms Murphy says. 'You can plan hundreds of years into the future.'

The National Post - Secret Afghan talks could reap rewards (7 October 2008) The first hint surfaced three weeks ago, when France's Prime Minister told a parliamentary hearing he favoured a negotiated peace in Afghanistan. 'Efforts in this direction are being led by Sunni countries, such as Saudi Arabia,' Fran├žois Fillon said. On the eve of Eid ul-Fitr, which marks the end of Ramadan, Hamid Karzai, the Afghan President, told reporters he wants Taliban leaders to return home. 'My brother, my dear, come back to your homeland,' he said. 'Come back and work for peace, for the good of the Afghan people. Stop this business of brothers killing brothers.'

Karzai said he was seeking the intervention of the Saudi royal family to bring the Taliban to peace talks. 'The preparations for negotiations are going on a daily basis,' he said. Now, the Arab world is buzzing with a flurry of new reports that King Abdullah of Saudi Arabia met for four days in September with a 17-man Taliban delegation and an 11-member Afghan government contingent.

No one will even admit to holding peace talks. 'You can only really acknowledge it once you can show something for it,' said Stephen Saideman, an international security expert a McGill University in Montreal. Hints of possible peace talks come as all sides seem to be reassessing the conflict. Brigadier General Mark Carleton-Smith, Britain's Afghan commander, over the weekend ruled out 'a decisive military victory' in Afghanistan and suggested Kabul may have to open security talks with the Taliban. On Monday, Prime Minister Harper said he feels it is up to the Afghan government to decide if it wants to negotiate with the Taliban. 'Ultimately, how to bring about political reconciliation and who to talk to—these are decisions the Afghan government has to take,' he said.

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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