Banking-Industry Turbulence, the Economy and the Financial Markets: Is It Different This Time?
MEETING FOR THE WEEK OF June 26, 2023
This Meeting at a Glance:
Program: Banking-Industry Turbulence, the Economy and the Financial Markets: Is It Different This Time?
Speaker: Gary Schlossberg
Is this your first time to visit us? If so, welcome to our weekly online meeting! To complete our meeting, please continue reading from here to the bottom of this page. Each Monday our week’s meeting is posted early in the morning, U.S. Pacific Time. These meetings are designed so that you can read and watch what we post anytime during the week. The entire meeting takes about 60 minutes to complete, with the video conference recording of the program being the bulk of the time. Note that you can easily read this meeting with your favorite device, so feel free to take our meeting on the go with you. Please also make sure to complete the attendance form at the bottom and leave a comment. Enjoy!
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Read and watch the content below in its entirety.
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Message from our President
Dear fellow members and friends,
As I sit down to type my final letter as President of our great eClub, I am filled with a bittersweet mixture of emotions. The past year has been an incredible journey filled with challenges, triumphs, and invaluable experiences. Through it all, I have been honored to serve as your President.
The projects, initiatives, and collaborations we have undertaken have not only enriched the lives of those we serve but have also left an indelible mark on my heart. Our collective efforts have transformed me into a better Rotarian, a more compassionate human being, and a true believer in the power of service above self.
The Rotary International Convention that just wrapped up in Melbourne, Australia served as a testament to the potential of our organization. As an eClub with members hailing from all corners of the world, it is truly remarkable to see some of us come together in one place to represent our club with pride and enthusiasm. In addition, I am thrilled to hear that those who participated in the event were inspired, motivated, and reinvigorated to continue making a difference in the world.
As we prepare to welcome our new President Nick, I have no doubt that under his capable leadership, our club will continue to flourish and make a positive impact in our global community. I extend my heartfelt congratulations and best wishes to him as he embarks on this new chapter. By the way, I invite you all to join us for the changeover ceremony, where we will celebrate our accomplishments and welcome the new leadership. The date will be announced shortly, so please stay tuned for further details.
In closing, I would like to express my deepest appreciation to each and every one of you. Thank you for your tireless efforts, your unwavering commitment, and your belief in the power of Rotary to dream big and change lives. It has been an absolute privilege to serve as your President, and I am forever grateful for the memories, experiences, and friendships that we have shared.
With warmest regards,
Angelica Marotta, PhD
President 2022-2023 Rotary eClub of Silicon Valley
Rotary International District 5170
WEEKLY FUNNY WITH SHAGS
We believe laughter is an important part of life, and we should all make time to laugh a little. This segment of our meeting is meant to tickle you just enough. These funnies are curated by member Steven "Shags" Shagrin!
Taking Up Golf in Retirement
A retiree was given a set of golf clubs by his co-workers. Thinking he'd try the game, he asked the local pro for lessons, explaining that he knew nothing whatever of the game. The pro showed him the stance and swing, then said, "Just hit the ball toward the flag on the first green."
The novice teed up and smacked the ball straight onto the green, where it stopped inches from the hole. "Now what?" the fellow asked the speechless pro.
"Uh... you're supposed to hit the ball into the cup," the pro finally said, after he was able to speak again.
"Oh great! NOW you tell me!" said the beginner.
INSPIRATION
Every week we share a short video highlighting innovation, education, entrepreneurship, or whatever we think might inspire you to see the world in new ways.
To finish this Rotary year, we'll share one that combines the power of AI with President Angelica's focus on health. A team from Massachusetts General Hospital and MIT developed a system that could detect lung cancer much earlier than typically happens now, and this NBC story will explain why.
LEARN SOMETHING NEW
The Brothers Warner Movie Trailer
My paternal grandfather lived on the same street as and grew up with the Warner Brothers. Yes, those Warner Brothers. They got their start in Hollywood years after my grandfather was managing live theaters in Youngstown, Ohio, in the early 1900s, and even hired Jack to sing at the Opera House in between shows to clear out the audience. Harry Warner's granddaughter, Cass, made a movie about their life. This is the trailer, now more commonly known as the preview. (WARNING: Strong language) PS: If you watch Yellowstone, the actor playing Rip Wheeler, Cole Hauser, is Cass Warner's son/Harry Warner's great-grandson.
Club News
Remember to log-in to our ClubRunner Members site at <Click here>. After logging in, please be sure to access the MyClubRunner tab, and select My Profile. Please update your personal information here, which automatically updates our club directory.
Members: Please watch for an important email from our Treasurer Cecelia regarding the changes for paying your semi-annual dues. You will be receiving an invoice shortly. Please be sure to make your payment prior to June 30 so we can update our roster at Rotary International prior to the start of the new Rotary year, July 1.
SERVICE REPORT
Tell us about service you’ve done recently in your community.
Click here to fill out The Rotary eClub of Silicon Valley Service Survey
ROTARY SERVICE PROJECT OPPORTUNITY IN MEXICO
Charter member Keith Marsh is organizing a Rotary project to Project Amigo in October for the “Day of the Dead” (Dia de los Muertos). The week-long trip to Cofradia, Mexico will include Rotary Service in the areas of International Service, Youth Service and Fellowship. It will also include cultural and travel photography of the festivities surrounding Day of the Dead. Space is limited. Click below to download the .pdf for more details and visit the Project Amigo website at: https://www.projectamigo.org/ Contact Keith or leave a comment below if you are interested in attending.
HAPPY DOLLARS: Do Good by Sharing Something Good
Each week we ask our members to share stories with the club and toss in a few dollars to support our efforts. The primary goal of this section is to provide a fun way of getting to know each fellow members and guests, while giving back to a good cause.
Happy dollars is an opportunity to share something positive that has happened in your life whether it is personal or business. Think of it as your opportunity to brag a little, but also put a little bit into a karma jar. The money donated through happy dollars is put to charitable use.
PROGRAM: Banking-Industry Turbulence, the Economy and the Financial Markets: Is It Different This Time?
SPEAKER: Gary Schlossberg
Every week we bring to you a new program on innovation, entrepreneurship, and education, and how those contribute to service to others.
The Rotary eClub of Silicon Valley seeks to explore perspectives on service from across the world. The views of the speakers in our programs are their own, and unless stated otherwise, are not necessarily reflective of the views of our eClub or Rotary International.
If you have an idea for a cool speaker, please feel free to reach out to them directly or submit THIS FORM so our Program Committee can contact them!
The discussion will touch on this year's banking turbulence, its origins, industry implications and consequences for the economic and financial market outlook. Catalysts for the disruption in the banking system will be compared to those of the past, in the context of economic conditions past and present, the health of the industry and other potential threats to financial stability. Also summarized will be our thoughts on the economic and interest-rate outlook through 2024, partly tied to this added threat to financial stability.
Our speaker, Gary Schlossberg, is a global strategist for Wells Fargo Investment Institute (WFII), a subsidiary of Wells Fargo Bank, N.A., which is focused on delivering the highest quality investment expertise and advice to help investors manage risk and succeed financially. WFII serves Wells Fargo Wealth and Investment Management, a division of Wells Fargo & Company comprised of Wells Fargo Private Bank and Wells Fargo Advisors businesses.
Gary is responsible for identifying global macroeconomic and political trends, their impacts on financial markets, and their potential opportunities and risks for investment portfolios. He conducts internal and external presentations, and he produces market updates, special reports, and white papers that articulate views to help investors meet their long-term financial goals.
Prior to joining WFII, Gary worked as a senior economist with Wells Fargo Asset Management, the bank's institutional investment manager, and in the bank's Economics Department. He began his career as a researcher with the U.S. Treasury Department and the Federal Reserve Board. Gary earned a Master of Arts in Economics from the Pennsylvania State University and an undergraduate degree from the City College of New York. He is based in San Francisco.
Members and guests, please welcome Gary Schlossberg!
UPCOMING PROGRAM RECORDING SCHEDULE
All of our guest speakers and programs are recorded live online over Zoom video conference. We welcome members and guests to join us in one of these upcoming recordings. Recordings are approximately 30 minutes long and are subject to change without notice.
Our online video conference room link for these recordings is always http://zoom.siliconvalleyrotary.com/. You are welcome to join us! Please note the timezone listed for all recordings is US Pacific Time (San Francisco, California, USA).
If you can’t join the live recording, please send your questions for an upcoming speaker to programs@siliconvalleyrotary.com.
THE ATTENDANCE SURVEY
Thanks for reading and watching this week’s meeting. You have two last things to do before you’re done.
We have a very short attendance survey below for you to fill out to record your attendance.
Visiting Rotarians, this is how you can get an email receipt to pass along to your club’s secretary as proof that you’ve attended our meeting if you need it for makeups.
Non-Rotarian Guests, we would love to see who is dropping by our meetings! This part is optional for you. If you think you may want to join our eClub at some point in the future, we would strongly recommend you fill out the attendance form as it will improve your chances of success for your membership application.
For all members and guests — we strongly recommend and ask that you leave a comment in our comments area below. Tell us how you enjoyed the program. Ask this week’s speaker any questions you might have. Or just stop by and say hello and tell us where you’re from!
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