Saturday, December 6, 2008

HOW ABOUT THIS? Vivaldi's "Winter" against the City currently under water and the masks of Carnivale

We are Slowly Growing Up

It is not often that I find reason to praise the policies of Gordon Campbell, but the BC Premier and his Alberta counterpart, Ed Stelmach, deserve full marks for their pushing through a new deal in Canadian working conditions.

By spring of next year, Canadians will have full mobility in terms of working across the country without the onerous and stupid rules that have kept doctors, accountants and many others locked in one province or another.

This is a move that should have happened many years ago. We may be large on the mao, but we are a tiny country of some 35 million people and the barricades that kept people from moving their trades from Halifax to Headly were ridiculous.

Congratulations to Mssrs. Campbell and Stelmach for continuing the drive to make this new Canada a reality.

What me Worry, Part One

Canada is different. Canada is inoculated.


Read this morning's job loss story in the NY Times, then check your local rag for similar Canucklehead versions.

O.J.'s going to jail and we're losing jobs in Canada. Get used to it.

Canada - What me, Worry?

Investing Insight from Adrian Mastracci,
Portfolio Manager

"US jobs a shocker!"

For Immediate Release

Vancouver, BC (December 05, 2008):

It's a shocker. The numbers are staggering. The US jobs picture is into "ouch land".

You could say, the lights are being turned out. And the prospects are for more darkness.

Nearly 1.9 Million jobs have vanished year-to-date. And this may be an optimistic figure.

Looking at the substantial downward revisions made to the September and October figures leads me to brace for an ugly revision to the 533,000 jobs lost in November.

President elect, Barak Obama has a herculean miracle to perform. No doubt his team is burning the midnight oil trying to figure out what will resuscitate the very sick US economy.

The rest of the world is also affected in similar ways. Canada included.

Brace yourself for central bank interest rate expectations heading toward zero. Wave goodbye to the high yields of yesterday.

However, I fear that we have not learned anything from past lessons on interest rates.

I fear that investors who need income are going to take undue risks in their quest to replenish vanishing yields.

I fear that the number of banks on the FDIC watch list will increase.

I fear that more financial institutions will fail.

We have much work ahead to resuscitate the global economic prospects.

Adrian Mastracci
Portfolio Manager, R.F.P.

KCM Wealth Management Inc.
Fee-Only" Portfolio Managers & Financial Advisors
Suite 1500, Box 1078, 885 West Georgia Street
Vancouver, BC, Canada V6C 3E8
Tel: (604) 739-4500 Fax: (604) 739-0234
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