Hopeful signs in the economic malaise

Financial Strategies

It is di cult to see a way out of the current economic malaise. e markets are up, then they are down. ere will be a new debt ceiling but at what cost? We have been hearing about a recession for over a year but now some economists are backpedaling. What is going on and how do investors navigate these clouds?

Oh, and the weather is not helping the mood much either.

We are dealing with one of the rainiest spring seasons on record, one of the highest federal de cits in history and the longest anticipated recession ever. No wonder no one wants to start a new job, buy a house, or invest in virtually anything.

But there are some green shoots. e stock market seems immune to most of the bad news based on the ve tech stocks leading the returns. If you look under the hood, many average stock prices are down in value so far this year despite the broad markets buoyed by a few stocks that were hit hard last year, namely Apple, Nvidia, Microsoft, Amazon and Alphabet. ese ve stocks are the largest market-cap names in the S&P 500 representing 24.7% of the overall weight of that index.¹

Despite the mixed signals investors are experiencing, it may be helpful to hear some positive facts to lighten the heavy political and economic news lately.²

• In ation has calmed down in 2023.

• Corporate earnings were better than expected in the rst quarter.

• We continue to see strong employ- ment levels.

• Retirees are bene ting from the previous government payments and the higher interest rates on bond portfolios.

• Capital spending is holding up given the infrastructure spending bills passed to keep our technology sector competitive, restore our infrastructure and incent re-onshoring of companies’ supply chains.

• Consumer spending has increased, especially on travel and entertainment.

• e economy is experiencing pockets of weakness this cycle, unlike the boom-and-bust periods of years past when every industry group seemed to su ocate at the same time. For example, residential housing is soft but multifamily housing is on re, so overall construction employment continues to rise.

• Productivity is troughing follow- ing an unusually high labor force quit rate. Once workers stay on the job for a while, they will become more productive quickly. Dramatic improvements in technology, like AI, will also drive productivity gains. ese positive indicators could be keeping us from falling into recession, however the debate is still open for a hard versus soft landing. Investors should use this time to update their nancial plans and build a portfolio strategy for the opportunity to take advantage of more green shoots. help others climb.

1. Ned Davis Research as of May 31, 2023.

2. William Greiner, CFP, Mariner Wealth Advisors chief economist. Je Krumpelman, CFA, Mariner Wealth Advisors chief investment strategist. Patricia Kummer is managing director for Mariner Wealth Advisors.

Last week my column was a tribute to a friend and colleague Jill. In the past 15 years of writing this column I had never received the number of emails, texts, and comments on any previous column. And all of the messages had common themes, “I wish I would have known her,” “She must have been something really special,” “I hope people remember me that way,” or “What a legacy she left behind.”

And now I share Brian’s story above because regardless of our role in life, we all don’t have to be a CEO, we can move from being to doing to having to giving and to leaving a legacy. And it starts with a very simple concept that David H. Sandler, the founder of Sandler Training, introduced us to,

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Is it always about what’s next and how high you can climb? Or is it about how you can help others climb higher faster, and helping them on their own journey of being, doing, giving, and leaving their legacy? I would love to hear your story at gotonorton@gmail.com, and when we can remember to strive for success so we can move to signi cance and then leave the legacy we would be proud of, it really will be a better than good life.

Michael Norton is an author, a personal and professional coach, consultant, trainer, encourager and motivator of individuals and businesses, working with organizations and associations across multiple industries.

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BY DEB HURLEY BROBST DBROBST@COLORADOCOMMUNITYMEDIA.COM

Search-and-rescue dogs embody the mail carrier motto: “Neither snow, nor rain nor gloom of night” will keep these trusty canines from their appointed rounds — searching for people or items with single-minded purpose.

For the dogs and their trainers who are part of the Colorado branch of SARDUS — Search and Rescue Dogs of the United States — training is a weekly, if not daily, endeavor to prepare dogs to certify in an area of search and rescue or to keep the dog’s skills sharp after certi cation.

“ e training continues for life,” said Cathy Bryarly, a retired Boulder sheri ’s deputy who trains search-and-rescue dogs. “ is has to be part of your life. It goes way beyond a hobby, or it’s not going to work. It’s a calling.”

SARDUS members agree that it’s a labor a love based in their strong resolve to help others. Not only do the dogs and their handlers train multiple times a week, enlisting family and friends to hide, so the dogs have someone to search for, but handlers also attend seminars on a variety of topics and work together by laying trails for others to follow.

Trainers are always learning, so they can improve their canines’ ability to help in emergency situations.

Search-and-rescue dogs and their handlers are not paid; in fact, handlers spend a lot on the dogs, the equipment, the training and more. e goal is to be certi ed to go on missions, the term for helping law enforcement nd people, bodies or objects needed in an investigation.

Call the people trainers or handlers, but more importantly, they’re dog lovers who want to work as a team with their pets to help others.

The humility of training e trainers say it simply: Training their canines is humbling.

“Our dogs don’t make the mistakes,” Anjie Julseth-Crosby of Morrison said. “We do. ere’s so much to remember. e training is about me trying to understand what (the dogs) are saying. e human fails, not the dog.”

In fact, Julseth-Crosby, who started training her bloodhounds two years ago, has compiled a 19-page document called “ ings I wish I knew two years ago.”

Training involves having a dog follow a scent for several miles, helping the dog return to the SEE DOGS, P15