Bellingham Kiwanis Soundings

September 22,2009

Prez Rich started the meeting with the ringing of the Bell. Dick Schmitt lead the group in America - and good job he did. Lyla and Barb lead the group in singing Oh Canada, Alyson gave the invocation.

Guests:

Maggie Shipley, Elizabeth's friend from Vancouver Island, Speaker Hart Hodges, and Bill Audley.

Announcements:

Installation Banquet will be held Friday at Sudden Valley's Bob's Burger and Brew. Social at 5:30, Dinner at 6:30 and program at 7:30.

Council of Committee Chair meeting next Wednesday, Sept 30, Noon at Round Table Pizza.

Next week's meeting will be the presentation of the Bike Rodeo winner and the Club's year end report.

Nancy L provided the club with this weeks Education Moment - The Fifth Objective of Kiwanis. "To provide through Kiwanis Clubs, a practical means to form enduring friendship to render altruistic service, and build better communities.

Bruce J announced that this Saturday, we are giving our Kiwanis Pocket Park, located behind city hall, its Fall cleaning.

Jan A announced that also on Saturday, we were collecting baby food at the Haggen's Barkley Store. The following Saturday, we will be collecting baby food at the Meridian and Sehome Haggen's Stores.

John H announced that an Interclub is planned for October 8th for the Kulshan Kiwanis Club Installation.

Dick Z announced that we need volunteers for the 5th Tuesday Bingo Team. The regular teams rotate on the 1rst, 2nd, 3rd and 4th weeks. The 5th Tuesday teams are made up of volunteers.

Happy Dollars:

Prez Rich tried out a number of definitions and observations. Ouch.

Russ was happy for Surgery and supportive of Prez Rich's humor.

Nancy L was happy that, along with Hubby George, she say the Mariners win on Sunday. Wonderful game. She was also happy their counters were replaced with Granite.

Greg was happy to have been in Montreal for a week. Unhappy that his wife is now in Edmondson for a week and that he needs to get the house cleaned up before she returns. He also told a great joke.

Mike O noted that Bruce appeared to have a sore shoulder. Bruce - confessed - he does - though it does not slow him down.

Bruce also revealed that when he was younger he fell into a patch of poison oak and that affected his heart. Over the years he has tested his heart and recently found out that his heart was now at 100%. Since he is already one of the most active members - we are all looking for an uptick in his future activities.

Elizabeth was happy that her guest Maggie was visiting.

John H was happy because Dick Z made him feel like a school kid. He also thanked Prez Rich for a great year.

John W was had a comment about the Grinch Stealing Christmas. This note taker missed the reset of the story.

Al D was happy to have attended his 65th High School Reunion. There are still many living. Good time had by all.

Bill Audley reported that his trip to Florida might have been a bit muggy, but all had a great time. He dinged another dollar for promoting Life Insurance.

Lyla threw in a Happy Dollar.

Barb paid a buck to deliver a Joke - great joke Barb.

Nancy Leavitt was happy to see such a beautiful day. Since she has a child due soon - a baby pool will soon start.

Russ scrounged in his pockets and found enough change for a second dollar. He feels that Ralph should find a Laugh Insurance Policy - so we could get paid every time a joke doesn't work.

Drawing:

John H won the drawing - but didn't draw the Joker.

Program:

John Wilson introduced our speaker Hart Hodges. Hart is an Associate Professor of Economics for Western Washington University. He is also the Director of the WWU Center of Economic Research, and is very active serving on many local boards.

Hart Hodges presented 10 global and local issues that will impact our economy over the next several years and beyond.

1. As a country our population is getting older. The youngest of the baby boomers will soon be leaving their "high spending" years. The older baby boomers are now entering retirement. The aging population cause a reduction in spending which impacts not only business, but also the tax revenues that support our government.

2. We are not as wealthy as we were just a few years ago. The current recession has been a wake up call for many. Not only have folks lost value in their investments and homes, they also have changed their behavior. Folks are adjusting their personal balance sheets by paying off dept and not borrowing. Mobility is at a 60 year low. People are working past their retirement age.

3. Commercial Real Estate will be sluggish for a while.

4. 35% tariff charge on Chinese made tires is probably a mistake.

5. Job loss recovery during a recession has gotten longer after each of the modern recessions. The current estimate that it will take 4 - 5 years for all the jobs lost during this recession to recover.

6. The automobile industry has too much capacity and can produce more autos than we can consume. Also, as the industry starts replacing the larger cars with smaller cars, their profit margins go down.

7. Locally our job loss stands around 8% and is not as bad as many other areas.

8. Housing market. A recent article indicated that Real Estate in Bellingham was still over priced. Hart noted the article did not provide a lot of detail as how they arrived at their number. He noted that data indicates that affordability was up based on Median Income/Median home prices. He also noted, that all of the small towns in coastal areas share the same issue as folks are attracted to small towns and living on the coast. Bellingham has generally lagged the nation by a year, so prices here could continue falling even after prices recover in other parts of the country.

9. Inflation is not an immediate problem. There is too much production capacity and unemployed workers. There is a lot of debt so interest rates should rise.

10. Economics is a messy business and it is easy to conclude a dark future. However, the American people are an optimistic people. Companies will compete for the consumer dollars carefully and thoughtfully. Good companies will do well.