Now I start worrying about June – what kind of month are you going to be? So far, May is indeed a Merry Month for me here in the Home Office. I hope everyones May is going as well as mine, but from the statistics, it is clear that the world is hovering on the edge of another recession. Towards the end of every month I run my business figures across my mental screen to see if I am still ahead of my creditors.     My personal record for May Loans Number of applications I have made for loans: 0   Sales Article writing  Gambling articles: 0                This market has gone very quiet. News reports: 5                                               Financial articles: 15   Painting department: Watercolors: 1 started and finished Acrylics: 2 started of which 1 is near completion.    Income When my clients have paid it will get me through the month of June as long as there are no major surprises. These could range from a car break-down to a lost crown on a tooth, b Full article…

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They say insanity is doing the same thing over and over again and expecting a different result. Tech Buble meet Facebook.

Facebook is on the verge of ushering in the largest IPO ever. FB plans to offer 337 million Class A shares at between $28 and $35 per share. At the high end of that range, and adding in other outstanding shares, you arrive at a valuation just shy of $100 billion.

Last year the companys net income was about $1 billion.

At a $100 billion valuation, Facebooks price-to-earnings ratio would stand at 100. In other words, at current earnings it would take investors 100 years to earn back their investment.

Google stands at a P/E of 18.

Apples P/E sits at 14.

The case for the valuation is that Facebooks growth will be nothing short of phenomenal. In other words, investors are betting that Facebook will grow into its valuation.

Such a theory is not unprecedented.

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Everything was going along just rosy, until.

An analysis from RBCs Europe Economic Research division this morning reminds us of the tightrope that Canadian Finance Minister Jim Flaherty is walking. Next weeks Federal budget is going to make some headlines, with expectations of large cuts to government spending. But its more thoughtful than that.

Majority governments dont have many opportunities to take major steps during a mandate, and 2012 is the year of choice if th government is going to satisfy the desires within the Conservative Caucus to shrink the governments footprint. And yet, cutting government spending during economic uncertainty gets many economists up in arms. Whats our fav Fin Min to do?

Last December, Bank of Canada Governor Mark Carney warned us luncheon-goers at the Sheraton Centre that Europe may well already be in another economic recession. Over the past 90 days, the S+P 500 index is up a tidy 12% nonetheless.

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TURNING POINT

Morocco has long thrived on its advantageous perch as an economic crossroads between Europe, Africa and the Arab world—and between emerging and developed markets in general. Trade and manufacturing have grown, thanks to the kingdom’s proximity to Spain, just nine miles north across the Straits of Gibraltar, and from its legacy as a French colony. Thanks to a brisk pace of financial reform, Morocco’s finance industry has grown steadily in line with the Casablanca Stock Exchange—Africa’s fourth-largest after those of South Africa, Nigeria and Egypt—where listed Moroccan banks serve as proxies for emerging markets overall as constituents of the MSCI Emerging Markets Index. And this nation of 32 million people shares an economic cooperation zone across the Maghreb region with Algeria, Libya, Tunisia and Mauritania.

But this year, Morocco finds itself at a different crossroads—a political one—that will determine the future of its economy. The stakes

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