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Good news report from Canada

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16 April 2008

25 March was the 25th day of the ninth month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

25 March 2008

The Canadian Press - TSX leaps more than 300 points (25 March 2008) A strong rebound on the Toronto stock market continued for a third session Tuesday. Toronto's TSX Composite Index jumped 302.5 points, or 2.3 per cent, to 13,322.22 with financial and commodity stocks leading the charge The financial sector continued to rebound, gaining 1.2 per cent. The sector has been on the upswing lately, rising 1.5 per cent last week and another 2.7 per cent Monday. Investors also took in a strong Canadian retail sales report for January. 'This robust reading shows that the Canadian consumer just kept right on rolling along at the start of the year . . . ,' said BMO Nesbitt Burns deputy chief economist Doug Porter. 'The combination of tax cuts and price cuts are powerful sources of support, but the more lasting driver is the persistent strength in Canadian employment trends, which is now getting a big assist from rising wages.'

From a Bloomberg News report on this: A measure of raw-materials stocks rose 4.4 per cent, leading gains as nine of the 10 industry groups in the TSX advanced.

From a Reuters Canada report on this: When added to Monday's 244-point rally today's 302.5 point gain helped make for a rise of more than 600 points or almost 5 per cent over three sessions. The consumer staples sector rose 2.7 per cent today. The tech sector lent support, rising 2.4 per cent. Kate Warne, Canadian market strategist at Edward Jones in St Louis, Missouri, USA, said there is a more positive sentiment toward the tech sector in general with many of the stocks doing better than had been expected. 'It's interesting that the tech companies have not been much affected by the troubles we've seen in the credit markets and the other areas that have affected many other sectors.'

The Canadian Press - All sectors post gains as retailers surge into 2008 with third straight rise (25 March 2008) Retailers began 2008 on a strong note, as sales increased 1.5 per cent in January to an estimated C$35.8 billion. That's the third straight month of strong gains in retail sales. Total retail sales, excluding sales by dealers of new, used, and recreational vehicles and auto parts, rose 1.3 per cent in January, the second strongest increase in eight months.

From a CanWest News Service report on this: Sales rose in all eight components of the retail index in January. 'On balance, the robust and broad based tone to the January retail sales report reflects Canadian consumers' optimism as the domestic drivers of the economy continue to hold up and support consumption,' said Charmaine Buskas, senior economics strategist at TD Securities.

From a Bloomberg News report on this: Canadian retailers posted their biggest sales increase in eight months during January, signaling consumer spending remains buoyant and may temper an economic slowdown. 'With strong job growth, the consumer side of the Canadian economy is very strong,' Meny Grauman, an economist with CIBC World Markets in Toronto, said.

From the Statistics Canada report: The strongest monthly increases were observed in the Atlantic provinces of Nova Scotia (up 4.6%), New Brunswick (up 3.7%), Prince Edward Island (up 3.4%), and Newfoundland and Labrador (up 3.3%). Sales in Quebec . . . climbed 2.7% in January, the fourth monthly increase in a row. Sales in Manitoba (up 1.8%) continued their growth . . . . Sales in Ontario (up 1.6%) were up for the fourth time in five months.

The Globe and Mail - Signs 'positive' for retailers (25 March 2008) 'After spending the most in 22 years in 2007, most Canadian consumers are likely to retain a sunny disposition this year . . . ,' said Sal Guatieri, a senior economist with BMO Nesbitt Burns.

The Globe and Mail on Canadian brokerages maintaining staff levels (25 March 2008) Since the credit crunch began seven months ago, the axe hasn't fallen at Canadian brokerage houses, which are currently running at record employment levels. And industry experts predict the domestic dealers won't resort to job cuts any time soon. Domestic investment banks employed 42,329 individuals at the end of 2007, up 3.4 per cent over 2006. Investment Industry Association of Canada assistant director Jack Rando said that staffing levels have stayed stable through the first few months of 2008. Actually, jobs are 'going begging' [more widely available] in retail divisions—everyone is trying to hire more investment advisers. That more than makes up for cuts in troubled areas, such as credit derivatives. 'To the extent the industry may shed jobs in capital markets, we expect to see hiring in the retail side of business, so net employment is expected to stay constant,' Mr. Rando said.

CanWest News Service - Canadians warming to emissions cap: poll (25 March 2008) Four of five Canadians disagree with the federal government's approach to Alberta's 'oilsands' sector that will allow its annual global warming-causing emissions to triple over the next decade, a new survey of 1,014 Canadians from coast to coast has revealed. [Oilsand is defined as a stratum of sand or sandstone containing petroleum; Alberta has a very large oilsand accumulation.] Overall, 79% of Canadians and 81% of Albertans said that greenhouse gas emissions from the sector should be 'capped at current levels and then reduced' because of the impact on global warming, according to the McAllister Opinion Research poll. Only 12% of respondents, both in the province and in the country as a whole, said that emissions from the oilsands sector should be 'allowed to exceed current levels' so as to encourage economic growth. Under the federal government's regulatory framework, Environment Canada has predicted that carbon dioxide equivalent emissions from the oilsands companies would grow to 75 million tonnes per year from 25 million tonnes, before going down in 2018. 'It's pretty overwhelming that Canadians want absolute reductions and now,' said Matt Price, a climate and energy policy expert with Environmental Defence.

The Canadian Press - Doctors' continuing education depends too much on drug companies: journal (25 March 2008) The system that keeps doctors abreast of medical developments is too reliant on drug company funding and needs an overhaul, the Canadian Medical Organization Journal said in an editorial published Tuesday. The strongly worded editorial, written by the journal's editor-in-chief, said giving drug companies such control over the continuing medical education of doctors distorts medical practice and compromises the ethical underpinnings of the profession The author, Dr Paul Hebert, placed much of the blame on doctors themselves, saying they have developed a sense of entitlement to the lavish perks often paired with continuing medical education or CME programmes—such as tickets to professional sporting events, cruises, or access to exclusive golf courses. 'The problem is that you should always question the funding source,' Dr Hebert, an Ottawa cardiologist, said in an interview.

The regulatory bodies that license doctors dictate a set number of hours of CME credits doctors have to log every year to maintain their credentials. Dr Hebert's editorial suggests that evidence shows education sponsored by drug and device makers 'frequently distorts the topic selection, embellishes the positive elements of studies and downplays the adverse effects'—focusing attention on drug treatments and away from disease prevention, health promotion, and non-pharmaceutical options.

Dr Hebert proposes that an arm's-length 'Institute of Continuing Health Education' be set up to design and run continuing education programmes. It suggests funding could be derived from governments, the medical profession, and a levy on profits from drug and medical device patents. Critics of the broad influence the pharmaceutical industry exerts over medical education, medical journals, and the prescribing practices of doctors were quick to endorse Hebert's call.

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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