Happy birthday to Liz Bradt on the 14th of January!

 

 

 

 

 

 

 

 

Rinus Oosthoek and Tim Clarke made a presentation last week about the Rotary Foundation.  The goal set by District Governor John Hall is to have 100% participation by our Rotary members in giving a donation in any amount to the Rotary Foundation.  We will be counting "people" donation, and not dollars!  In order to donate, and make the 100% participation a reality, Rotarians may register between now and June at the Rotary website and make a donation:  www.Rotary.org/myrotary

 

 

 

 

 

The Polar Plunge will be held Saturday, February 1st at Long Beach, Gloucester.  You can check out our Club's fundraising page at Polar Plunge 2014

The Polar Plunge pledge checks should be made to Rotary International Foundation. 

Jeff Holloran and Patrick Langmaid will plunge if Brenda, Joanne, and Liz raise $1,000.00!

 

 

 

 

 

 

 

This week, our own Rob Lutts was the speaker.

 

The Rotary Scholarship Fund was started 20 years ago by Salty Smith.  The fund started with $10,000 from the club and $9,000 from members.  There is $557,000 in the fund today.  Many contributions have been made over the years, including generous donations from Beth Alexander and Liz Smith.  The fund has given $125,000 since its inception for scholarships.  There is a goal of having the fund value at $700,000 by the year 2017.  3% of the fund's value is given for scholarships every year.  This year, the Scholarship Board had decided to match any gift that members give to the fund!

 

Rob also said that in 2014, growth is coming back.  The economy is getting better.  The US is well positioned, compared to the rest of the world.  We have superior assets such as our education system, legal system, access to capital for entrepreneurs, and capital markets.  The US is one of the most creative, adaptable, and innovative economies.  The Federal Reserve is starting to back off, and there is a reallocation from non-risk to risk investments.

 

During the downturn, 8-9 million jobs were lost.  Many have now come back.  Rob said there are 2 economies:  an educated one, that is doing well, and a non-educated one, that is not doing as well.  He said that the housing situation is better, but has not fully recovered.  Although consumer confidence is moving up.

 

The debt in all of the economy is $57 trillion, combining both government and private sectors.  It is double the % of the GDP than it was in the 1980's.  Debt = denied further consumption.  The economy is going slow with a 2.6-3% growth.

The good news is that the household debt is the lowest in 30 years. As interest rates rise, stock values can also rise, and this is a positive.  Investors have put more money into bonds, and in 2013 they started to move into equities.  We are in a bear market for bonds.  There is optimism for equities, as they are being helped by technology, solar power, and health diagnostic innovations.

 

The biggest innovation for the US in the last decade is in energy.  Texas has doubled its oil production, and the US could become the largest energy producer.  The US is cheaper than Europe in manufacturing because of lower energy costs. 

 

Some of the negative issues are the Federal debt, unproductive regulation, elderly population, global wars, and the inequitable distribution of wealth.

 

Ultimately, the US economy is moving in a forward direction.

 

"We have enough people who tell it like it is - now we could use a few who can tell it like it can be."