Future Economy

ROTARY CLUB OF CAYUCOS-SEASIDE September 9, 2010 Meeting started @ 7:00a.m. Present: Liz G., Gladys, Sherry, Dan, Pam, Scott, Jessica, Chaz, Jan We will be dark September 23. Sherry is trying to make a field trip for the 25th. The Conference is October 22, 2010 Speaker: Bob Hather, Portfolio manager. Why this economy is heading for such big headwinds? Demographic problems Baby-boomer, 85 million, is now 45-55 old. Spending 10-15% less Result is negative growth Economic growth is going to be very different for many years. 50 year average of savings is a of rate 8% Foreign interests could get into buying up US companies We need 3% GDP growth just to keep the unemployment level. GDP growth will be below average. Worldwide growth is 4% US need to sell 7 trillion dollars in debt in the next 30 months. Meeting adjourned @ 8:00