As some of you may not know in Canada we (only some lucky provinces) celebrated Family Day long weekend.

Judging by the board activity all of us had good and relaxing weekend.

In our community here we had a nice Polish Valentine party with on Saturday and Family dinner on Sunday.

Today I did some major reading on the state of Canadian and Global economy. Most of it is not very encouraging.

Canadian Economy despite government promise is catching the virus from our friends south of the border.

January house sales in Canada were 41% down. We just reported today first trade deficit in 33 years. January job loses were the biggest on record. Bank of Canada is expected to drop the interest rate to 0 (zero).

Japan economy shrinks in Jan by 12.7%, the steepest drop since 1974.

European Central Banks study has been leak suggesting that they will need more then $14 trillions to recapitulized the Europeans Banks which apparently were less responsible with their lending in comparison to US banks (Sharky may add some more here).

China `s export oriented economy as reported today show Government revenue drop by 17%.

On the lighter note Dubai hottest in the world real estate prices drop 40 to 50% in January alone (Den-Denby45 will know first hand).

Oil was trading today on the future market. WTI down at $36, Brent down at $43.6. The gap is narrowing and they may reconcile at $40/bbl. Contango is shrinking by months ahead dropping more then March.

Anybody see the light at the end of the tunnel or glass half full?