Craig Fehr is a General Partner and Investment Strategist for Edward Jones. His job is to analyze and interpret economic and financial market trends to develop strategies to help investors achieve their financial goals. He works with 15,000 Edward Jones financial advisors who serve eight million investors.

Craig gave us his Cliff Notes version of the status of the U.S. economy. In general, the economy is still flowing but is not as strong as last year. Last year’s growth was “sort of” 3%. He does not expect the same growth this year. The U.S. economy has been in a “sluggish” expansion for several years. “Sluggish” means that it is not like the 2004-2007 rip-roaring expansion. The current sluggish expansion has prevented many of the economic imbalances that resulted in the 2007 recession. He believes, however, that we are in the last stages of expansion and that recession will ultimately follow. But when? He does not think the recession will hit us in 2019 or 2020.

Based on its behavior, that the stock market seems to believe the recession is coming sooner, but he’s not convinced, for several reasons. First consumer spending is still strong. Our economy is not based on manufacturing, as it once was, but rather on consumer spending. Second, the unemployment rate, 3.7%, is still at an all-time low. We’ve even seen some moderate wage growth recently. And, even Thursday morning the initial jobless claims report had dropped again to nearly record levels. Craig thinks that all of this means that there is still room for growth in this sluggish expansion. He’s watching the unemployment rate; when it hits 4.2%, we’ll start to see recession.

Thank you, Craig, for the amazing insights into a complex situation. We are amazingly lucky to have had you speak to our club in a clear and informative way that allowed all of us to better understand the situation. (Now get to work figuring out how to avoid a recession altogether!)

On a regular basis, our resident photo pro Warren Smith, submits pictures of what is going on at the weekly meetings. You can always find the most recent pictures at the websites photo journal called "Meeting Sighting" Please note that all the meeting photos for the entire Rotary year are at this location with the most recent on the last page.

Thanks for all the great pictures Warren! Link to Meeting Sightings. The most recent are on the last page!

My career in broadcasting came upon me quite by accident. Seeking employment in my first summer away from The City, San Francisco, I found an advertisement offering a sales position with a small radio studio in the metropolis of Ukiah! Since I had just earned my drivers licensee, and having recently purchased a 1954 Chevy coupe, painted Olive Drab, (the bumpers were rusted, so I sanded them smooth and painted them a bright Yellow Cab yellow) Quite a sight to see…..!

I was hired at KMSL AM radio and hit the streets, touting the attributes of running commercials with our station. “A Dollar A Holler” for a thirty second live message, read on the air by the D.J.

It isn’t easy “selling air” so to speak, but I was making headway, not breaking any records, but hey, I was barely seventeen and this was my first fulltime legitimate job.

One afternoon I returned to the studio…it felt different somehow. The owners door was shut, which was unusual. Sitting at my desk, I over heard voices, growing louder and more intense by the moment. Finally, the door swung open and the afternoon D.J. said something I can’t repeat, and left the station in a huff…. (actually it was a Ford!).

Edward B. Mulroney, the owner and manager of K-missile Radio bolted into the lobby, walked over to my desk and asked “ MJ, you have a deep voice, ever consider a career as a Disc Jockey?”

“Well, not really, Although I have been in a High School play…and the adulation was rewarding, what’s involved in being a DJ?”

“Oh, it’s easy… I’ll teach you”

After the crash course in the production studio, I was turned loose in the control room that Saturday morning…learning as I stumbled along….a stack of 45’s.. hand written copy, (commercials) and the best wishes from everyone who knew that I’d either sink or swim…well, obviously I didn’t completely drown… Did have to gasp for air occasionally though.

I continued to DJ for this radio station until my graduation from Potter Valley High School in 1967. Working every weekend and some fill in whenever an announcer was ill or on holiday. I moved to a more powerful radio studio on the NorthCoast, KDAC in Fort Bragg, until I enlisted in the U.S, Army in 1969

Rock and Roll became my life blood as I continued my enlistment, Broadcasting from the Fort Hood Texas’ private radio station, and ultimately from the A.F.R.T.S.* in the Republic of Vietnam. Upon my release from active duty, I rejoined a Central Texas Broadcasting network that was affiliated with ABC Radio.

Now that you have an idea of my background, next edition we’ll delve into how broadcasting changed my life.

MJ will be providing music oriented columns on a monthly basis!

• This story originally appeared in the September 2019 issue of The Rotarian magazine.