Post Easter Edition

Each week, I update you on what the economy did the week before, and I’ll do that now:

• Jobs were solid (joblessness was down and way more jobs were added than expected), consumer confidence was up over the previous month, the manufacturing numbers were ok, and the annual growth of hourly wages dropped from 3.8% to 3.5%.

  • Not good news, but still ok.

•  Well, that’s your update. 

Last week, I stated that there may or may not be a Russell Report, depending on time availability during the week.  Well, you just read it, so now you can go to your next email if you’d like, or you can read on… 

Some of you may know that I was the only child of parents who adopted me right out of the hospital in December 1962.  Until I was six, the only relative I really knew was my dad’s mother, but then my dad transferred to Asia with Bank of America in 1968, and I didn’t come back until 1980. 

I met my wife on New Year's Eve, 1985, and had the opportunity to attend her family’s Easter in 1987 when we were engaged.  It was at a little house in Chino, hosted by Auntie Mary, and there had to be at least 45 people there - all related.  As an only child, I had never seen anything like it, and it was overwhelming, and it stayed that way for a few years.    

Fast forward 39 Easters to yesterday, when my wife and I hosted Easter for the family for the ninth year.  Attending was my mother-in-law, who, at 99 years old, is the matriarch of the family; her four children (my wife and her siblings) and their spouses; their seven children, some with spouses; and their 7 children, the oldest being 4. 28 people in total. 

I paused for a moment during the conversation and chaos to look around and reflect on how I have come from a 3-person family to a 28-person family.  I mention this because I hope that for all of you, no matter the occasion, you make the opportunity to get together with your family, whether it is 2, 8, or 28, at least once or twice a year.  I think you’ll find that while interest rates, market moves, and our own jobs are important, it is the family that will keep you grounded and support you when the rates, market, and jobs fail us, because, at some point, they will. 

Next week, I jump back in with the numbers and the stories behind them.  See you then.