Visitors : Sanjana France (Guest of Nathan Capper), A big welcome back to Dave Robison, Paul O"Driscoll our speaker
President Chris Dever welcomed everyone
Birthdays of members and partners & Anniversaries
Chris Dever on the 15 December. Kathy Web on the 16th December
There were no Rotary Anniversaries.
Guest Speaker: Paul O'Driscoll - Forsyth Bar
David McConnochie introduced the guest speaker who gave a well explained presentation on THE ECONOMY
5000 year low interest Rates 3000BC-to-2021
But the inflation bogeyman is here --manly caused by COVID 19
Core inflation has not been this high since the early 1990s the V shaped recovery in DEMAND in NZ core retail sales matching US sales.
We have Stronger recovery in NZ vs our peers i.e. selected countries in the CDP
But this bounce is uneven with durable goods demand booming and services Trailing.
There will more than likely be $6 for a flat white due coffee bean price huge 300--400% increase.
The supply chains have struggled to respond with CONTAINERGEDDON and a worldwide truck driver shortage. Freight rates have soared. i.e. from $2000 per container to $18000 for deliveries Energy costs increase due to a perfect storm.
NZ is World leading in migration. Up in net migration and population Growth which in some ways has been
the principle driver of our economy.
The Ponzi economy built on migration, but the door is now shut which leaves NZ has acute housing shortage and a tight labour market.
What does this mean---the first meaningful rate hike cycle in 15 years. A highly geared consumer house hold debt / GDP. NZ mortgages tenures up, floating 12%.1 year 60% and 3+years 4%. Our over inflated housing market.
Tourism won't bounce back quickly, it took 6 years to recover after the 2009 GFC. and for now a lot of uncertainty is on the horizon.
A new FEAR and GREED INDEX emotion is driving the market! Why can we remain upbeat ? simple answer is High Inflation won't be here forever, we just need to work through it.
Investing drivers and low nominal interest rates and a lot of money still sitting in bank accounts around the country Interest rates are a way off long term negative impact on equities. When Global supply chains hopefully easing, the economic indicators strong.
LOOKING FORWARD ITS NOT ALL BAD
JUST HARDER
Speaker Thanks: Andrew Knowles
Thanked Paul for his presentation saying it was a lot easier to follow than other resent economy talks that he has heard.
Induction of Sanjana France:
Rotary Tauranga sunrise President Chris Dever took pleasure in officially Inducting Sanjana to the world of Rotary a
nd presenting her pin and info pack. Nominating her to New Generation Committee.
Rhonda Wisbey continued giving her a warm welcome to our club.
Sanjana replied stating she was privileged to join and rotary's core values resonate with her. She was fortunate to have connections and exposure to Rotary thanks to her Grandmother In 2015 she was sponsored by Rotary and attended RYLA, to her this was an inspiring game changer.
Rena Documentary Film
Rosalie is working on this project and is seeking crowd funding to see it come to fruition they are requiring $25000.00. Check out the link for more information.
https://boosted.org.nz/projects/the-rena-wreck-documentary
Multisport event: Steve encouraged members to Volunteer for Mount Festival of Multi-sport event on the on 22nd January 2022 and encouraged at least 10 -12 members to provide firm commitment for the event names in to Steve by Wednesday 15th. Event times are from 0600 till 1400 hours.
Next week $10.00 for food bank please :
No secret Santa present this year
Vaccine Passport ( reminder )
This will now be required for entry to the Tauranga Club. Entrants are required to be double vaccinated and to prove this with the passport either printed or on their phone. These requirements are in order to comply with the traffic light system. Whilst in the club, we should be wearing masks unless seated.
Christmas Tree in foyer
Donations appreciated to help with treatment for ill children.
2022 Very Advanced Notices
Unofficial meeting at THE RAFT on Friday 7th January 2022 for those who are able to catch up. 7am start.
Everyone pays for their meal as they go as this is not an official meeting. Guests and family members can be included. This is a bit of a tradition to kick off the New Year.
25th Anniversary of Sunrise Club
26 February our 25th Anniversary dinner to be held at the Tauranga Club. Chief guest is the District Governor.
Leading into this Mary gave a quick breakdown on her year as President.
Bobs BBQ. 6th March Guess who is coming to BBQ announced by Bob.
Sargent Session: Due to time restraints Nathan Capper was retrained and to be let loose later in the New Year
Raffle Winner: Indeevar E 032.
Parting thought: Dan Allan- Gordon
Dalai Lama If you thought you were to small to make a difference ,try sleeping with a mosquito
