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2 June 2008

16 May 2008 was the 16th day of the eleventh month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

16 May 2008

The Canadian Press - TSX hits new record close (15 May 2008) The Toronto stock market surged 201 points to a record-high close of 14,828 Thursday in a broad-based advance. '2003 through to 2006, we had a four-year period of double-digit returns; last year we were just shy of that when the TSX was up 9.8 per cent; but today year to date, we're up seven per cent and I think we're on track to see double digit returns resume for the TSX index,' said Jennifer Dowty, portfolio manager at MFC Global Investment Management.

From a Reuters Canada report on this: Analysts have noted that the current round of corporate results generally has been better than had been feared.

From a Bloomberg News report on this: 'The rally is broadening out,' said Paul Hand, managing director of equity trading at RBC Capital Markets in Toronto.

CBC News - TSX closes at record high near 15,000 (16 May 2008) The benchmark index of the Toronto Stock Exchange rose further into record territory Friday. The TSX composite index gained 156 points to end the week at 14,984. So far this year, the TSX composite index is up 8.3 per cent. Much of the strength in the TSX has been because of rising prices for the commodities that Canada produces. But even the financials have staged a healthy comeback from their January lows, rising 18 per cent in the last two months.

From a Canadian Press report on this: The Toronto stock market racked up its third record close for the week on Friday. The TSX composite index broke through the old closing high of 14,625 from last July on Monday and gained 463 points or 3.2 per cent this week. The latest surge takes the TSX about 2,800 points up from the lows of late January.

The Canadian Press - Saskatchewan, Newfoundland in new era of prosperity (15 May 2008) Saskatchewan and Newfoundland and Labrador have stepped into a new era of prosperity, a new study by Statistics Canada says. As incomes have risen and population growth has resumed, Newfoundland and Labrador and Saskatchewan consumers have gone on a buying binge, leading provincial growth in retail, housing, and auto sales. Statistics Canada said the commodity boom offered a unique opportunity for the two provinces. Driven by export growth, Newfoundland and Labrador's economy led the country in terms of growth in nominal gross domestic product in 2007, at 13.4 per cent. Saskatchewan followed at 11.4 per cent growth. Newfoundland and Labrador has registered the largest single-decade turnaround in GDP per capita in one decade in Canadian history.

Bloomberg News - Canadian Mortgage and Housing agency increases 2008 home starts forecast (15 May 2008) Canada Mortgage and Housing Corporation (CMHC) said new home construction will decline less this year than had been earlier forecast, because of strong job growth and higher wages. About 214,650 homes will be built this year, up from its February forecast of 211,700 units. Home resale prices will rise to C$323,000 this year, CMHC said. Last year's average resale price was C$307,310.

The Financial Post - House prices to rise 5 per cent (15 May 2008) Nationally, the average house price is tipped to increase by 5.1% in 2008, Canada Mortgage and Housing Corporation (CMHC) says in its housing market outlook. Overall new home construction will slow from recent peaks, but the market will still remain strong by historical standards at 214,650 units in 2008, CMHC said. 'Strong economic fundamentals such as continuing high employment levels, rising incomes and low mortgage rates will provide a solid foundation for healthy housing markets this year,' Bob Dugan, chief economist at CMHC, said.

From a Canwest News Service report on this: Scotiabank economist Adrienne Warren said there are a variety of reasons for confidence in the continued health of the housing market. Home prices in Canada are not substantially overvalued, the real estate market is not overbuilt, households are not over-leveraged—mortgage carrying costs as a share of disposable income are historically low—and overall mortgage quality is still sound, she said. The 10% average annual increase in home prices over the past half decade was unsustainable, and a return to more historical norms is a welcome development, Ms Warren said.

The National Post on Toronto school board to examine ban on sale of plastic water bottles (13 May 2008) Toronto's public school board is looking at banning the sale of water in plastic bottles in its 560 schools. Trustees Josh Matlow and Sheila Cary-Meagher cite health concerns with chemicals used to make plastic bottles, as well as the amount of waste the containers generate, since the vast majority of them end up in landfill sites, and not at recycling plants. Ms Cary-Meagher said it also paves the way for the board to consider overall healthier choices for its students.

The Globe and Mail - Greenhouse-gas emissions decrease for second year (16 May 2008) Greenhouse-gas emissions in Canada declined for a second year in a row during 2006, falling to 721 million tonnes, or by 1.9 per cent from a year earlier, according to Environment Canada. Emissions peaked in 2004 at 743 million tonnes, and the reduction was the equivalent of taking about seven million cars off the road. Emissions haven't fallen for consecutive years since modern record keeping started in 1990. It is 'a surprise actually that for the second year in a row . . . there would be emission reductions,' said John Drexhage, director of climate change and energy programs at the Winnipeg-based International Institute for Sustainable Development.

From a Canwest News Service report on this: Environment Canada explained that most of the reductions in emissions are due to less power being generated from coal-fired plants, combined with an increase from other sources such as hydro. It also noted that milder winters in recent years have also significantly reduced residential and commercial heating demands. Canada's greenhouse gas emissions still remained nearly 30 per cent above the country's overall goal under the Kyoto Protocol. The Harper government and environmental groups both agreed the statistics show there is still much more work to do in order to reduce emissions of heat-trapping gases that are linked to global warming.

The Toronto Star - Young criminals 'differently accountable,' court rules (16 May 2008) Young offenders have a right to be treated differently than adults, and forcing them to justify why they should receive more lenient sentences is unconstitutional, the Supreme Court of Canada ruled. The ruling is seen by many legal experts as one of the most important judgements on youth justice in Canada in a century, firmly entrenching the concept that young offenders do not have the moral culpability of adults and are entitled to have their diminished maturity recognized when they come before the courts. Since the provisions at issue in the Youth Criminal Justice Act presumed adult sentences to be the norm for teenagers convicted of certain violent crimes, they ran counter to principles deeply entrenched in Canadian society that youths must be sanctioned differently than adult offenders, Justice Rosalie Abella wrote in the decision.

From a Globe and Mail report on this: 'The principle of fundamental justice at issue here is that young people are entitled to a presumption of diminished moral blameworthiness or culpability flowing from the fact that, because of their age, they have heightened vulnerability, less maturity, and a reduced capacity for moral judgment,' Justice Rosalie Abella said in the ruling. The ruling is expected to reduce the number of youths who end up in penitentiaries serving long sentences. Critics have long argued that putting them in penitentiaries makes them likely to become hardened criminals for life. 'The reality is that imposing adult sentences on young people is controversial, because it might satisfy society's desire for retribution, but it does not have any impact on rehabilitation or reducing youth crime,' said Cheryl Milne, a lawyer who made legal arguments in the case on behalf of Justice for Children and Youth.

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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