December 3rd Edition

Good Morning All,

Not much special about yesterday's market activity except the S&P 500 did manage to close back up at the important 850 level. This morning's poor job claims numbers, the declines in Europe and the diminished guidance by Mr. BlackBerry have all served to lower today's expectations. However one day does not make a market or a week, up or down, so let us all stay tuned.

It is not surprising that Canadians are extremely divided over the latest political machinations in Ottawa. Harper supporters are rallying around the anti-separatiste banner while the Liberals and NDP are dismissing the Bloc's influence as a necessary evil in their bid to form a new government. The breakdown is as usual, mostly an east-west split, wherein the recently chastened Albertans are ripe for fuming due to the 100$ drop in oil prices. It is always a joy for this writer to bring up the point that neither Ralph Klein nor that province's citizenry ever put a drop of oil in the ground.

Whether you agree or disagree with the opposition's tactics or strategy here is opinion; the question involving the legality of the action or the precedent behind it is not. The British Parliamentary system has proven itself, despite its flaws, to be superior to any other form of democracy for several centuries, and if you don't believe that just take a look at the recent two year primary and election campaign in America even as you try to understand how a country can have a President-in-waiting for two and one half months. I could go on about how George Bush would never have survived one question period let alone eight years of them, but I digress.

The most interesting thing to come out of all this may not be a new government with a much needed stimulus plan, but the word prorogue, a far better candidate than paliniste for word of the year.