Dear David & Diana:

Last night along with some thirty of your distinguished guests I attended once again "Wednesday Night" chez les Nicholson. Last night was - different. Different in the sense that we are approaching June 2, 1997 which is Election Day in Canada and less than 1000 days thereafter we are on the threshold of another millenium. In the light of these two events I felt the evening was distinct and very successful indeed!

To describe the evening from every angle possible is like a fly that has found its way in a nudist camp and wants to taste almost anything and everything on sight. The number one rule of your soirees is that they are indescribable—one has to be present to feel the mood, to get into the mood of discussion. One takes part or abstains (or for that matter the permanent mc (Mr. D.) decides "le droit a la parole!" The professors speak their minds, the politicians object, agreement comes from disagreements and finally one common sense (usually Mrs. D. N.) takes over and says "well –how about the common man, the man/woman who is not a professor, not a politician, not an economist… –how about the unemployed graduate student?" How about US, the individuals who want to get on with our lives but feel led by others and have very little say on how things evolve. Voila –that was the essence of the evening. In fact one of your guests –a man who has lived through the turmoil of Yugoslavia –tried to summarize the discussion in the simple but eloquent words "I just don’t understand!", he said, "the changes that Canada is contemplating and is living through while nations abroad envy your country (and Quebec too and more so the beautiful city of Montreal) for its present standard of living, its social harmony, the potential economic infrastructure it has in place and much more." "Do countries learn from the mistake of others?", your guest asked. There was no reply!

Last night guests were numerous. Some live in Westmount, others in Montreal,still othrs in the suburbs, but all in the Province of Quebec, in the country still called Canada and we are part of this immense North American enclave. We were often reminded that we are only 30 million in Canada next to our giant but nevertheless good friend the United States of some 300 million people.The main topic of discussion was the politics of the province of Quebec – the province that seeks special status or has already the special status by the mix of its population and especially the French language and culture that prevails here. No one in the audience denied that fact. We all recognize it, applaud it and partctpate actively in it. The concensus of the gathering is that most of us would be content to go on with our lives, make a living, have good contacts with our neighbors and extend this friendship as far away as Newfoundland and British Columbia. Social harmony and economic well being are our prime objectives. These feelings are frequently expressed on Wednesday Nights where, as David enjoys pointing out, some 20 plus languages and cultural heritages are represented.

Now –back to the politics of the Nation. Various topics were raised and discussed around the table –and I will enumerate here a few of them—

• Quebec politics and the Bloc Quebecois agenda of succession. Quo vadis Quebec ?
• The Federal Liberal Party agenda and its promise of "jobs, jobs, jobs" –while the unemployed or under-employed in Canada still number approx. 1.5 (one and a half) million human beings. These are not just statistics but humans.
• The local and national politicians who go for "power" and neglect the real need of their constituents. A constant presence is missing. A need to be in contact with the local population needs and aspirations is not filled. Politicians are not present to address problems and find real practical solutions. All these factors were mentioned.
• The new liberalism does not work! This subject is beyond Economics 101 –thus I pass.
• Economies of scale vs. diseconomies of scale in reference to the alarming new trend of amalgamation of the cities and their suburban neighborhoods. Amalgamation also raises the spectre of lack of representation at yet another level of government - see above.
• Distinct society and "us" distinct individuals –as the MC has expressed it.

On the economic front and investment outlook, here is what experts in the field had to say:

• Inflation is no longer "the" problem or a problem!
• The big problem is the employment index that does or does not reflect the true picture of the employed, the unemployed or under-employed. And of course a new generation of "unemployable"or "unadjustable". New terms and terminology of who is who on the "making a living" chart and his/her chances for a better life are yet to come.
• The dichotomy: the job openings in specific sectors in Canada vs. the unfulfilled expectations! Who is right: the entrepreneur or the unemployed!
• Employment vs. structural unemployment. Considerable difference in the provincial economies.
• There will be an upward adjustment to the interest rates –soon.
• The rich and poor gap—still staring at us!
• Recession—Yes, one could talk the economy into recession!
• Economic values change or rather the "age factor" makes us look again at the values we espoused some 10-20 yr. ago. We now subscribe to a new set of values thus a new set of economic objectives. The result of which affects the present economic structure of the nation and of course our expectations of what governments should and should not do in the course of their mandate.
• Does money talk? And if it talks –does it also travel? Ideas on investments going as far away as Brazil because of its 200 million inhabitants (where the rich/poor gap is enormous) or the USA –with its political stability and excellent infrastructure were all mentioned. The North/South economic axis is more relevant than the old mantra "go west, young man" – perhaps from fear that one meets a member of the Reform Party.
• Does marginal tax rate (Canada vs. US) play any role in the investment decision of the potential investor? Contradictory opinions abound on this subject and your guests reflected those views…

All these points elicited some heated discussion with no practical solution on what the next step should be to make the future brighter for the generation of young people graduating from universities and still on the "jobless" scene. Many of your guests have one or more close family members seeking employment elsewhere on the North American continent or overseas. Yet, Canada remains in the dire of our Prime Minister "the best country in the world". This paradox came once more to light during the discussions.

Now this isn't a poll, much less a scientific survey - just the observations of journalists and the Wednesday Night Pundits who, for the most part, have spent a good part of their lives watching the political homo quebecensis in action.

Now here is what some prominent attendees had to say about the election results: