Hopeful of a compromise to avert the ‘financial cliff’, American Politicians provided some positive optimism toward the markets as the week commences. Global indices surged ahead after getting pummeled for  days after the re-election of President Obama. The Super-rich fearing a potential tax hike, sent the Dow down almost 4% erasing billions in paper assets. It is imperative that an agreement is done for the sake of stability. Hopefully, Americans may get more than just turkey for their huge Thanksgiving holiday upcoming.

USA Home Sales rose 2.1% in October as the sales pace was almost 11% higher than a year ago. Even though the Wells Fargo Builder Sentiment Index rose to 46 from 41, a reading below 50 still suggests a negative sentiment about the housing market. Potential buyers are still meeting stricter lending standards requiring larger down payments. In Canada the new mortgage rules may be causing harm to Canada’s economy. After Jim Flaherty, The Finance Minister announced the fourth major change in as many years to mortgage rules; it is becoming more difficult for Canadians to obtain insured mortgages, even though the banks are making greater profits in the new environment.

Finally let’s talk about something even more positive, how about Mr. Louie Santaguida, who is Canada’s entry in The 4 Desserts Run in Antarctica– please check out- http://www.4deserts.com/thelastdesert/ .  Personally I have never met an individual with so much drive and determination as he. Being a successful individual and family man you would think he would be wrapped up in himself and playing with his toys. Contra to that notion, his selfless acts of generosity and commitment to achieving goals are a reflection of what every Canadian should be. His run will be for the benefit of The Hospital for Sick Children as well as The Covenant House to support homeless youth. Keep track of his progress by clicking on the link and help if you can. Please forward to others and get to know Louie, my friend, 37.   Santaguida, Luigi (Louie)

Check out   www.donfilippo.ca