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11 November 2007
29 October 2007 was the 29th day of the fourth month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
29 October 2007
Bloomberg News on Canadian stocks rise for sixth day (29 October 2007)
Canadian stocks rose for a sixth day on Monday, the longest rally in five months, led by raw-material and finance companies. The TSX Composite Index rose 130.92, or 0.9 per cent, to 14,427.35. The benchmark, which is 1.4 per cent below its July 19 record, had its longest winning streak since May 23. The index of raw-materials shares gained 1.8 per cent. 'There's a 'commodities halo' effect,' said Ian Nakamoto, director of research at MacDougall, MacDougall and MacTier in Toronto, which manages C$4.3 billion. 'Global growth will continue. Financials are attractive in a lower-yield environment.'
From a Canadian Press report on this: The metals and mining sector was up three per cent. The financial sector was a prime driver on the Toronto market, up 1.22 per cent. Tech stocks were also strong.
CBC News - Loonie hits 47-year high above $1.05 US (29 October 2007) The Canadian dollar's upward charge continued unabated Monday, as it topped $1.05 US to reach its highest level since March 1960. The loonie [popular name for the Canadian dollar] was quoted at $1.0501 US in mid-afternoon trading. It closed at $1.0496, up 1.03 cents US from Friday. That leaves the Canadian dollar a little more than one cent away from its postwar high of $1.0614 US, set in August 1957. The speed of the loonie's recent rise has been astonishing - up about 10 cents US just since the beginning of September. Since the start of the year, the Canadian dollar has appreciated by 22 per cent.
From a Bloomberg News report on this: The Canadian dollar rose against the 16 most-actively traded currencies. Canada's economy is benefiting from the commodity boom, which has increased the government's budget surplus and encouraged consumers to spend more. The Bank of Canada let the currency float for the first time in 1950. That era ended in 1962 when the country experienced a fixed exchange rate regime until 1970.
From a National Post report on this: If the currency surpasses the US$1.0614 level of August 1957, it will be at its highest against the greenback [colloquial name for the US dollar] in almost 130 years.
The Globe and Mail - Flying on confidence - and a big dollar (27 October 2007) Buoyed by a strong economy and low unemployment rate, Canadians have been travelling in record numbers. Until this year, the number of Canadians travelling overseas had never surpassed 600,000 in a single month. In August, that feat was accomplished for the sixth time when a record 609,000 headed for countries other than the U.S. And that's when the Canadian dollar was worth just 94.5 U.S. cents.
The Canadian Press - Strong loonie not affecting real estate market in booming B.C. (28 October 2007) The B.C. housing market shows no sign of slowing down. The average selling price of a house in Vancouver and its immediate suburbs reached C$819,794 last month. For British Columbia as a whole, average residential prices climbed 12 per cent in September to C$436,000, compared with a year ago. The 'steroidal' loonie won't deter most foreign buyers, says Cameron Muir, chief economist at the B.C. Real Estate Board. 'The reality is many U.S. and offshore buyers who are buying here are buying luxury condominiums,' he says. 'Buyers in that category ... are not as sensitive to exchange-rate changes because they have a very high net worth.' Adding in Vancouver's obvious physical charms, the market is still attractive to foreign investors. 'A lot of them bought here because they like it here,' says Ozzie Jurock, one of B.C.'s best-known real estate investment experts.
The Globe and Mail - Mortgage insurance market picks up pace (29 October 2007) Canadian home buyers look poised to reap the rewards as U.S.-based mortgage insurance companies bid for a foothold in the hot domestic housing market. The market had been a duopoly until 2006. That all changed when regulations were loosened last year, allowing more companies to enter the market. Mortgage insurance is necessary for homebuyers unable to afford the 20 per cent downpayment typically required in Canada. That means about 45 to 55 per cent of borrowers in the country. The benefits of increased competition are already evident in Canada, said Brian Bell, vice president of corporate development at AIG United Guaranty. They include longer amortization periods, or more time to repay the mortgage, and more options for people such as the self-employed and new Canadians, Bell said. Ultimately, the changes enable more Canadians to buy property in a market that remains robust. A booming economy, robust employment levels, sustained income growth, and relatively low interest rates have helped Canada become the world's No. 2 mortgage insurance market.
The National Post - Juniors shrug off credit crunch (29 October 2007) Spirits were remarkably high at the Toronto Resource Investment Conference last week. The annual showcase for junior mining companies was packed with investors, and each company booth was filled with senior executives who couldn't wait to brag about a recent financing. This optimism was somewhat surprising, if only because the junior mining sector looked as though it were plunging downward mere weeks ago - during the height of the credit crunch in August, when the world's financial markets were in turmoil. And junior miners were hit harder than almost everyone else. But to the great surprise of many, the junior mining stocks rapidly bounced back, along with the financing dollars and investor exuberance. The TSX Venture Exchange is reaching daily trading volumes that routinely top 300 million shares, unthinkable even a year ago. Resources are still appealing to investors as demand for raw materials is growing. Smaller mining companies tend to be more levered to commodity prices than senior producers. Once the panic selling wore off, investors rediscovered that relationship and the firms bounced back.
The Globe and Mail - Canada creating better jobs (29 October 2007) Canada's economy is churning out not only more, but also better jobs, a Canadian Imperial Bank of Commerce report said. In the first nine months of the year, CIBC's employment quality index - which measures the value of the jobs created by compensation and stability - climbed 3.8 per cent to its highest level in more than two years. CIBC attributed the rise to an increase in full-time jobs, which contributed 80 per cent to Canada's job creation since the start of the year, as well as the distribution of low and high paying employment. Benjamin Tal, a CIBC economist and author of the report, said that in Canada 'the loss of manufacturing jobs is being offset by job gains in sectors with equivalent and higher employment quality.' Not all manufacturing jobs are created equal, Mr Tal said. Losses among low-paying, job-shedding industries are being balanced out with gains in other, more high-paying industries. According to Mr Tal, the Canadian combination of employment growth and improving job quality is 'a sure recipe' for rising personal income, which increased by more than 8 per cent in the first half of the year.
The Toronto Star - Campus pubs hit dry spell (27 October 2007) 'There is a misconception that university is all about partying and drinking. But within one night (of arriving at Laurier), I found out that's not the case, that there's so much to do here that doesn't revolve around that,' sai Corinne Bowers, of Barrie, now a fourth-year sociology major at Laurier. BACCHUS Canada, which promotes alcohol awareness on campuses, recently surveyed 14,000 university students at 10 schools across Canada. It found that 93 per cent of youth believed students should not become intoxicated through drinking. 'This is campus life's best-kept secret,' says Bowers.
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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