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Political spring fever
It’s possibly the greatest Canadian show since Confederation, and the prediction is that relatively few adult Canadians will be accepting a free ticket. Although the script has not yet been completed, the actors are in place practising their lines at dress rehearsals amidst great speculation about how the spectacle will end. If the budget is defeated on the 18th of May, an election will be called for the end of June and we will still see a new Conservative government. [Note: by Monday, May 2nd it seemed slightly less likely that there would be an early election call, but as we are reminded so often, in politics, a week is a lifetime]

Aviation
The first flight of the Airbus A-380 http://www.wednesday-night.com/Iata.asp elicited mostly negative comments regarding the readiness of airports to handle these behemoths, the disagreeableness of traveling with that many co-flyers on one plane, the appalling risk of some 600 deaths in one accident, and conjecture that the insurance costs to carriers will be astronomical.

The Market
People generally do not understand the market. The best advice one can give, using the illustration of a roadmap for a journey by car, is to set a target (where I will be and when) and once the target is reached, look at the next section of the map to determine the next target and a reasonable time to reach it. Ron Meisels believes that the market is "very, very oversold" and is now ready to erupt in a bull market, but points out that the media don't offer the same analysis. There is immense apathy, even worry, among investors; they are not calling their brokers – not to buy, not to sell, not even to talk! Once we reach the top of the market, some of those investors will look at the prices, realize that they have missed the market and try to get in – and THAT is the top. Meantime, remember the adage market climbs the wall of worry

JACQUES CLÉMENT: Report on the Economy
http://www.wednesday-night.com/Jacques-Report.asp
CPI – in view of the long-standing arguments around the WN table generated by light-hearted disagreement over the method for calculating inflation, Jacques felt it would be useful to table the latest report on the contents of the basket. He pointed out that the March index would include MP3 portables and DVD discs for the first time. The 92-year old list began with such items as mutton, laundry starch and lard. http://www.bankofcanada.ca/en/backgrounders/bg-i4.htm; the Globe & Mail recently published an informative and entertaining article on the evolution of the CPI: Lard in 1913, plasma TV now: CPI tracks change noting that Statscan is very highly ranked (by IMF and the Economist).


Healthcare
Although Montreal was to have benefited from an injection of $250 million, it has been decided by the Charest government to reduce Montreal's grant by $50 million per year and transfer that money to the regions, where the vote is more important. The tyranny of the rurality continues in many sectors, not just healthcare. Could the campaign to retain the Shriners' hospital improve the overall funding of healthcare in Montreal? To be continued ….

Finally, the traditional words of thanks at the end of the evening included one to the writer of the weekly invitations: Lately, they have become entertaining and educational, quizzical and in a tone that conveys what went before and what may be coming up.
The Editor of Wednesday Night gratefully acknowledges these kind words which indicate that someone out there is reading these labours of love.