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Report from Canada: Good news

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13 October 2007

4 October was the 4th day of the fourth month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

4 October 2007

The Canadian Press - Financials lead strong gains on TSX (4 October 2007) The Toronto stock market closed sharply higher on Thursday as financials led a broadbased advance. The TSX composite index was up 104.26 points to 14,125.11.

From a Reuters Canada report on this: All but one of the TSX's main groups were up, with the heavyweight financial sector gaining 0.8 per cent. The materials sector rose 0.9 per cent, while the gold subsector was up 2.1 per cent.

The National Post - Building permits rise in August as residential sector remains strong (4 October 2007) The value of building permits in Canada totalled C$6.3 billion in August, up 1.4% from July, and the fourth consecutive month of strong increases in residential and non-residential sectors, Statistics Canada said. Single-family permits were up 2.2% to the second-highest level ever. The value of commercial permits rose 9.9% in August from the previous month, and institutional applications were up 3.9%. The biggest overall gains were seen in Ontario.

From a Canadian Press report on this: It was the fourth straight month in which permits topped C$6 billion and was second only to the record C$6.9 billion recorded in May and June. The figures suggest that both the housing and non-residential construction sectors remain strong and the building industry has a busy autumn ahead. The Canadian housing market remains bullish, with C$3.9 billion worth of permits in issued August, unchanged from July.

From a CBC News report on this: ' ... the overall trend confirms that investment in structures, both residential and non-residential, are supporting growth in Canada's economy,' RBC senior economist Dawn Desjardins said.

From a Toronto Star report on this: 'It's pretty clear that the Canadian housing market remains remarkably strong,' said Craig Alexander, deputy chief economist at TD Bank.

From the Statistics Canada report: Several factors continued to have a positive impact on housing demand, including strength in employment, growth in disposable income, low inflation, tight apartment vacancy rates in several centres and attractive financing options. The 4.3% increase in non-residential permits in August extended an upward trend in the sector that has been continuing almost without interruption since the beginning of 2006. The demand for office space in several centres, strong corporate profits, healthy retail and wholesale sectors, and the dynamic economy in Western Canada are among the factors that continued to drive non-residential construction intentions.

The Toronto Star - Outlook remains upbeat (4 October 2007) Canada's economy will not be seriously hurt by the U.S. subprime-mortgage debacle if the American economy avoids recession as expected, the Conference Board of Canada predicts. The Conference Board business outlook said a robust domestic economy will offset declines in exports caused by the strong Canadian dollar. Toronto-Dominion Bank economists chimed in with a similar forecast Thursday, saying Canada's economic expansion will continue as a U.S. recession is unlikely. TD economist Craig Alexander stated that U.S. businesses are in good financial shape, exports are growing, and unemployment is likely to remain low in the U.S. The TD Bank report says that 'Canada's economic foundation is sound' and the real estate market will remain solid. At the investment banking unit of Canadian Imperial Bank of Commerce, chief economist Jeff Rubin stated in a report that 'we are becoming more confident that the worst in credit markets may now be in the rear-view mirror.' He expects the TSX composite index, which closed Wednesday at about 14,150 points, will rise to 15,000 by the end of this year and will close 2008 at 16,200.

From a Reuters Canada report: 'What I'm betting on is that by the yearend, most people are going to understand that the U.S. subprime mortgage market is not a huge obstacle to global economic growth,' said Jeff Rubin. Rubin said global growth will drive the materials sector, which is good news for the resource-heavy TSX.

The Toronto Star - Harper eyeing further tax cuts (4 October 2007) Prime Minister Stephen Harper says his government's new agenda when Parliament reopens on 16 Oct will include a promise of hefty tax cuts for Canadians. 'I don't think it's any secret this government is going to want to see some further tax reductions,' Harper said. But this is the Prime Minister's most explicit commitment so far to bring in tax changes.

The National Post - Toronto home sales on pace for record year. (4 October 2007) Existing home sales in Toronto are on pace for a record year, according to the Toronto Real Estate Board (TREB). The TREB said 6,866 homes changed hands last month, a 4% jump from a year ago. For the first nine months of the year, Toronto real estate sales are up 11% from the record-breaking year the market had in 2005. 'The figures we are now seeing are just astounding us ... all the indicators, the interest rates, the inflation and the immigration are all showing so strong I can't foresee anything but a strong year,' said Mauree O'Neill, president of the board. The TREB said the average sale price in the city last month was C$380,132, a 5% increase from August.

From a Toronto Star report on this: Last month was also the second-best September on record for existing home sales in Toronto.

The National Post - City committee endorses pedestrian zones, more parking for bicycles (4 October 2007) A plan that would see pedestrian zones and streets, bicycle stations, and bicycle parking across Toronto was adopted by a city council committee.

CanWest News Service - Wind farms across Canada turning out to be tourist attractions (2 October 2007) Wind farms have surprisingly become tourist attractions across Canada. Municipalities are responding by constructing viewing areas and opening interpretive centres. In Alberta, TransAlta Corp. responded to visitor demand by creating an iPod audio tour for people keen to learn more about its three wind farms. 'Four out of five visitors to the area inquire about our wind farms, which was a tremendous surprise to us,' said TransAlta spokesman Michael Lawrence.

CBC News - Scientist helps Nunavik say no to trans fats (4 October 2007) Northern Quebec's Nunavik region could soon be one of the first in Canada to ban trans fats, with the help of a Quebec researcher who says they cause health problems. Trans fats, which are found in many processed foods and snacks, are being increasingly consumed among some Inuit and First Nations populations, said Dr Eric Dewailly, a Laval University professor and research director with the Institute of Public Health in Quebec City. To combat the trend, Dewailly is working with Makivik Corp., the organization that represents the Inuit of Nunavik, to implement, as soon as possible, a complete ban of trans fat in Nunavik. 'There is goodwill in Makivik and at the health board to ban that, because it's really a poison unnecessary,' he said. Northern Canada cannot wait for a nationwide ban, he added, since trans fats are showing up in the blood of some Inuit and First Nations populations. Eric Loring, a senior environmental health researcher with Inuit Tapiriit Kanatami, said the national Inuit organization supports a similar move across northern Canada. He called Dewailly's work an example of research serving the communities.

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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Copyright © 2007 Global Good News(sm) Service

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