Real estate As real interest rates rise, many predict that the housing bubble will burst, however another view suggests that prices will flatten rather than experience a rapid fall. As each house is a unique discrete asset there does not exist the same transparency in this market as in the stock market; there is unimaginable diversity in the purchasers of single-family homes in the U.S. and therefore no single dominant factor in the market. One point of major concern is the number of homeowners in the U.S. who are taking equity out of their homes, taking out loans and increasing their level of indebtedness. (See: http://www.wednesday-night.com/Realestate.asp)ms, use a bank machine, read traffic signs, or read instructions on medicine bottles. This year, RECLAIM will be the beneficiary of the gala dinner dance following the "Gala des Étoiles" ballet evening at Place des Arts on Thursday, September 8. Wednesday Nighters are invited and encouraged to support this event. The media and the individual's right to privacy The current media circus surrounding Karla Homolka's release from prison after serving her full term prompted her lawyers to present an unprecedented motion to Québec Superior Court which would have prevented every newsroom in the country from publishing anything about Homolka when she is released —including photographs, investigations into her relationships or information about where she intends to live. Would this have afforded Homolka more privacy rights than the average Canadian? No. The average Canadian (unless appearing as part of very public events such as a parade or rally, or who is someone in public life, i.e. a politician, or a criminal) has the right to his/her image, and is entitled to be asked for permission to take a photo for publication. There is considerable skepticism regarding the role of the media in this and other cases in exaggerating what is in the public interest versus what the public is interested in), but there is a consensus that with a predator such as Homolka, a ra[censored]t or a pedophile, the community has a need to protect itself... this case is troubling because there is no indication that her incarceration has in any way rehabilitated her. Nor has she shown any remorse. Without satisfactorily resolving the issue of her freedom from the prying eyes of the media – or the community where she decides to settle, Wednesday Night affirmed that the focus of the penal system must move from a punishment-based system towards a victim protection-based system, making sure that the chances of recidivism are minimalized. While today the community may view incarceration not as punishment but rather as protection, the penal system has not moved ahead in parallel with community values. The Market It has been an interesting year. When Ford and GM get downgraded to junk, 300 million dollars is shifted from investment grade to the junk bond market. Consequences are a dramatic deterioration of credit markets; however despite several other destabilizing factors, the markets have held up relatively well. This is a transition phase where the markets are very unsettled but by not selling off a great deal more, some resilience is created. The prospect of interest rate increases finally coming to an end and oil price increases being absorbed by the economy lead to a positive outlook based on those trends, and finally earnings growth prevailing. 1995-96 is the last comparable period; after strong interest rate increases in '94, the markets did terrifically well. Thus, there is reasonable cause for optimism, but we still need to survive the transition phase and the changes that have been buffeting the market. Plenty of risks out there, but in the opinion of one observer, there is more reason for optimism than pessimism. This opinion is shared by Ron Meisels who recently stated in the North American Market letter that a "minor pause" is in order before the current bull market -- seen as being in its final stage -- resumes its rally. http://www.wednesday-night.com/RonMeisels.asps role in the world, it seems that the federal government is floundering from one cheque book initiative to another, even if the PM did stand up to Sir Bob Geldof on the question of commitment of .07 percent GDP foreign-aid pledge, arguing that Canada shouldn’t make promises it cannot keep, and suggesting that the world would be better served by “achievable targets in the short term.” QUOTES of the EVENING [list:afd8fa3ed9]You don't judge societies by the way they treat people they like, the test is how they treat people they des[censored]e (Dr. Margaret Somerville on CBC) Ninety percent of murders are committed against people the murderer knows Today's (penal system) is neither better nor more cost effective than those days when we set the criminals' heads on pikes In most cases criminals are the product of society; therefore it is society that must deal with the problem(s) People have essentially been paid to borrow money Where there is freedom, there will always be things going wrong It may be a mistake to have gone there (Iraq), but pulling out is not an option To set a date of withdrawal is as dangerous as to declare oneself "King for life" – it's asking for trouble It is disgraceful that the United States sent only a single low-level delegate to the 60th anniversary of the founding of the United Nations in San Francisco [/list:u:afd8fa3ed9] For more: http://www.wednesday-night.com/Wed1217page2.asp