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25 December 2007

6 December was the 6th day of the sixth month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

6 December 2007

Reuters Canada on Canadian stocks strongly higher (6 December 2007) The Toronto Stock Exchange's main index finished strongly higher for a second day on Thursday, as robust resource issues led a broad rally. The TSX composite index closed up 115.26 points at 13,849.80. The materials sector as a whole was up 2.4 per cent. The base metals sector jumped 4.55 per cent

From a Bloomberg News report on this: 'Demand for Canadian resources will remain strong,'' said Pat McHugh, who helps manage about C$310 billion as a portfolio manager at MFC Global Investment Management in Toronto.

The Globe and Mail - Strategists see strong gains in '08 (6 December 2007) Canaccord Capital's chief investment strategist Nick Majendie, a relatively recent convert to the bullish camp, believes that North American stock markets bottomed recently and will rise strongly over the next year to year-and-a-half. 'While clearly nothing in this business is a foregone conclusion, we think it very likely that the markets will surprise on the upside in the new year and make for robust returns over the next 12 to 18 months, if not longer,' he said. He believes the markets could rise 20 per cent or more over that period. George Vasic, strategist at UBS Securities Canada, has also just issued an upbeat assessment of the Canadian market. He sees the TSX composite index climbing to 15,000 over the next 12 months from its current level of 13,735.

Reuters Canada - Canada October building permits soar unexpectedly (6 December 2007) The value of Canadian building permits issued in October jumped 6.8 per cent from September, Statistics Canada said. Analysts in a Reuters poll had forecast, on average, a 0.5 per cent climb. The nonresidential sector was responsible for most of the gains, rising 19.3 per cent. Commercial permits jumped 23.1 per cent, while approvals for institutional projects jumped 29.8 per cent. Multi-family housing was in hot demand, with permits surging 21.8 per cent to their second-highest level since December 2005.

Statistics Canada - Building permits (6 December 2007) The value of building permits remained above the C$6-billion mark for the sixth month in a row in October... Municipalities issued building permits worth C$6.7 billion, up 6.8% from September. Strength in employment, growth in disposable income, tight apartment vacancy rates in certain centres and attractive financing options continued to stimulate the demand for housing. On a year-to-date basis, municipalities issued C$62.1 billion worth of permits from January to October, up 14.2% from the same period in 2006. This was only C$4.2 billion short of the record for an entire year, set in 2006. A large part of the overall gain in the non-residential sector came from commercial construction intentions. The value of commercial permits totalled C$1.6 billion, up 23.1% from September. The value of commercial permits in October was 14.0% above the average monthly level recorded between January and September 2007. Among the factors contributing to this strong growth are vigorous retail and wholesale sectors, low office vacancy rates in several centres, strong corporate profits, and increasing demand for health and nursing facilities. The non-residential sector has been very healthy since the beginning year. Between January and October, municipalities have issued C$24.4 billion worth of non-residential permits, up 19.5% from the same period in 2006. Marked increases occurred in all three components: commercial ( 23.6%), industrial ( 18.2%) and institutional ( 11.2%).

Reuters Canada - Canada's Ivey index rises to 58.7 in November (6 December 2007) Purchasing activity in the Canadian economy rose in November and at a faster pace than the previous month, according to the Ivey Purchasing Managers Index. The index, the joint project of the Purchasing Management Association of Canada and Richard Ivey School of Business, rose to 58.7 in November from 57.1 in October. A reading higher than 50.0 indicates that activity increased. The Ivey employment index rose to 62.2 from 61.2 in the previous month.

The Canadian Press - Six biggest banks hit record $19.51B profit as Scotiabank posts $4.05B in earnings (6 December 2007) Canada's six biggest banks managed to turn out a record C$19.51 billion profit in fiscal 2007, despite writedowns related to the credit crisis. Scotiabank was the last to report on Thursday, posting a six per cent rise in profits for the fourth quarter. Revenue increased to C$3.1 billion from C$2.9 billion in the comparable quarter. Full-year earnings hit a record C$4.05 billion. The results helped the Big Six rise above the previous record of C$19 billion set last year.

The Globe and Mail - How green was my banker (4 December 2007) Our growing concern about global warming, energy consumption and all things environmental has reached an important milestone. So serious is this trend that the banks are now using it to sell mortgages a credit cards. The latest enviro-initiative from the financial world is the green mortgage and home equity line of credit from Toronto-Dominion Bank's TD Canada Trust division. Customers get a break of one per centage point off the posted five-year rate with the green mortgage or credit line. As well, they get a cash rebate of as much as 1 per cent of the amount they borrow to be used toward the purchase of energy-efficient appliances, home upgrades and renovations. If you took out a C$200,000 mortgage, you could be eligible for a rebate of up to C$2,000 toward your upgrades. In another green mortgage initiative, Canadian Imperial Bank of Commerce is handing out C$300 gift certificates for an environmental home audit that points out ways of saving energy. Citizens Bank of Canada is offering a green mortgage in Ontario that comes with a voucher that puts C$250 toward a home energy audit. The bank will also donate C$100 to the Conservation Council of Ontario, a coalition of environmental groups. A green credit card option comes from the Vancouver City Savings Credit Union, one of the largest credit unions in the country. VanCity takes 5 per cent of the profit generated by its enviro Visa cards and places it in its enviroFund, which has so far paid out C$1.7-million to local environmental projects.

CBC News - Tough Nunavut language laws could be on the way: minister (6 December 2007) Nunavut's minister of culture, language, elders and youth, Louis Tapardjuk, says the territory is on the brink of enacting the toughest protection yet for an aboriginal language in Canada. The minister told the Ajauqtiit standing committee that the Inuit languages must be protected as a majority language in Nunavut, while English and French speakers' rights must also be protected. Speaking in Inuktitut, Tapardjuk told the committee that elders are frustrated that children are communicating more and more in English and not Inuktitut or Inuinnaqtun. Under the federal Nunavut Act, the Nunavut legislative assembly can create laws to preserve and promote the Inuit languages.

CBC News - Inuit sign deal with Quebec, Ottawa on Nunavik government (5 December 2007)Representatives of Quebec's northern Inuit signed an agreement in principle Wednesday with Quebec and the federal government to establish new powers of self-government. A ceremony at Quebec's national assembly made the deal reached last summer official. The agreement is expected to be in place by 2009. The agreement will create the Nunavik Regional Government, an Inuit-run body that will take over responsibilities normally covered by municipal governments. The regional government will also have authority over education and health matters. The Nunavik assembly will be subordinate to the province's legislature. 'It's between a municipality and a sovereign government. It really is innovative, and it is audacious on the part of our government,' Quebec's Native Affairs Minister, Benoit Pelletier, said. 'With a new regional government, they will be able to make their own decisions about matters related to the preservation and development of their distinctive culture. This will lead to increased opportunities for economic growth and self-sufficiency,' Indian and Northern Affairs Minister Chuck Strahl 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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Copyright © 2007 Global Good News(sm) Service

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