THE SENIOR MEN'S CLUB OF NEW CANAAN
Minutes of the Regular Meeting of March 12, 2010
President George Perkins opened the meeting with 141 members present, membership of 488.
Dr. Thomas Flynn talked about his volunteering in Haiti. The impressive amount of volunteers, both medical and other were supplemented by corporate generosity to fund and operate a hospital caring for thousands of injured Haitians. He said the generosity and dedication of these people showed the spirit of young Americans has not waned.
ANNOUNCEMENTS: Jack Murray introduced Rob Curry and Joyce Sixsmith who told us about a new program "Drug-Free Kids" to help those hooked on drugs and drink.
ACTIVITIES Racquetball was 4-0-0, bridge and paddle as usual. Amateur Chefs noon on March 18, Photography will meet on March 16 @ 1:30PM, Trail Blazers will start on May 5 in Central Park.
COUTH: On April 21, a trip to Ellis Island and Statue of Liberty, cost $50 pp, does not include lunch
HUMORIST In honor of St Patrick's Day, Jack Messert told of an Irishman who thought his wife was begging him on her hands and knees, but admitted it was to get him out from under the bed. The other story related how an Irishman had trouble differentiating between a Nun and a Penguin.
SPEAKERS: Stephan Roach, Chairman of Morgan Stanley Asia talked about the current situation in Asia, predominantly China. The current economic and financial crisis is not over, and is expected to recover slowly if history is any guide. Global trade, which has been so powerful will show the greatest trouble recovering. The broad downturn will be difficult to turn. The American consumer will not contribute much to the recovery, and the Asian export machine is dependant on America ! We might even have a "relapse" before a real recovery. Personal consumption rose far faster than personal income and will take time to go to a normal relationship. Consumers in Asia cannot make up the difference. China must: use safety nets to assure its people they will not be hurt if they spend any increases in pay; support rural income which is very low; keep harmony between the very high earners and the low end; they must develop a service industry. World Leaders Imperitives: Quick fixes or rebalancing; Re-regulation or coping with systemic risk; Globilization or Locilization; Shared responsibility or "Blame Game".
India is doing well, but does not have the organization to catch China. South Korea looks good.
Harry Hitch, Secretary