I’ve been remembering the dad I had since 2012. I was 54 years old when I couldn’t celebrate Father’s Day in person with my hero. He was quite the colorful individual; he was like a loud party going somewhere to happen. I still miss him. This Father’s Day will be the first for my daughter Mariam and son Aaron to not celebrate their dad in person. I’ve asked permission to use excerpts from the personal tributes they wrote for Jimmy’s memorial service. It’s a heartfelt reminder to all fathers about how important they are to their children. “A child’s glory is his father” (Proverbs 17:6 TLB).

From Mariam: “My dad was wonderful…plain and simple. He lived an exemplary life of patience, dedication, and faith. He loved the Word of God — reading it, talking about it, and sharing it with others. His first priority was always showing me the ways of the Lord and I am so grateful. Anyone who knew my dad well knew that he was quiet and kind. He rarely raised his voice and he never had an ill word to say about anybody. He was very intentional. He knew what he wanted to do, his reasons for it, and he stuck to it. I so admire his resolve and unwavering faithfulness to his convictions and calling over the years.”

“My dad would drop everything to help me (or anyone). I was always so proud that if it was broken he could fix it, and if it needed put together it would be solid when he was done with it. Dad took me fishing, rode horses with me, built me the coolest tree house in town, taught me to shoot a layup and a shotgun. He spent real meaningful time with me. I have always known I was loved by my dad and that he was proud of me. Always. Thank you, dad, for being a present father in a world where you don’t have to be one, and for being a man of excellence in a world of mediocrity.”

From Aaron: “My dad was my hero. He taught me how to do everything I love. He taught me how to hunt, fish, ride a motorcycle, cut wood, grow things in the garden and so many other things. He taught me how to use his tools as a child, even though I left them out in the yard every time. Dad worked hard and did his very best at everything he did. I never once questioned that my dad was there for me. When I needed help on anything, I knew I could ask my dad and he would stop whatever he was doing to patiently walk me through what I needed.”

“My dad was a wonderful earthly father, and I couldn’t have had a better role model for our heavenly Father. Dad’s number one priority was drawing closer to God and living out His will. I never wondered if my dad loved me, and I know that he was proud of me because he made sure that I knew it. Dad wanted me to succeed, to do my best, and to know that I can trust God to help me with anything that I need, just like he did. I am forever honored to be my father’s son.”

Remember, the love you share/shared with your father will never die. Love is binding and eternal, so not even death can separate the love between fathers and their children.

The Key: If you still have your dad, be glad. If you don’t, be thankful for the dad you had.

Inflation

Congress has printed and spent trillions of dollars in the last year. Two “stimulus” checks have gone out to most Americans. Congress is still paying a $300 unemployment bonus, contributing to worker shortages and supply shortages. The Federal Reserve still has rates at zero. Banks are awash in cash with few investment options. Congress is trying to spend another $1 to $4 trillion.

All these factors should lead to inflation; and they have. The Consumer Price Index surged 5.2% year over year in May, the largest increase since 2008. Over the last 12 months, core inflation is up 3.8%, and other industries are much higher: used cars – 29.7%, airline fares – 24.1%, jewelry – 14.7%, shoes – 7.1%. We all know that the price of lumber has skyrocketed, along with most other commodities.

The housing market has taken off nationwide, including Bourbon County. Year-to-date in our region, sales are up 37%, average sales price is up 18%, days on the market has dropped 53%, and pending sales are up 49%. How long this will last is anyone’s guess, but it is obvious that forces beyond the market are at work. With the increase in lumber prices adding about $36,000 to the cost of an average new home, pre-owned homes are becoming more attractive and the market reflects that reality.

Rates are an historic anomaly, as evidenced by the fact that municipalities can borrow at rates lower than the rate of inflation. It does not make sense for cities and counties to save money for projects, when they can lower costs by borrowing at low rates and beating long-term inflation. Case in point, the average rate of inflation for construction costs has been 2.42% over the last ten years (are there any doubts that number is MUCH higher in the last year?); a city can borrow money for around 1%. Thousands of municipalities have taken advantage of this historically rare arbitrage at record levels.

What should a business do? Lock in long-term borrowing rates. Marginally increase normal levels of inventory. Save capital. Have a plan to deal with inflation in inventory, labor and other expenses. Get out of all short-term, variable rate debt. Much of this applies to individuals as well. One positive factor is that our nation’s personal savings rate has doubled the pre-pandemic level to 14.9%, which is nice to see given that people tend to spend money they did not earn more freely.

Inflation is a tax we all pay, regardless of our income level or position in life. A modest, predictable level of inflation is healthy; what appears to be coming is not. Now is the time for all entities, all people to focus on good financial health. Bourbon County can be an oasis of stability in an inflation desert.

Conclusion: Don’t get caught up in the nationwide buying/borrowing frenzy, unless it is absolutely necessary, such as for municipal infrastructure needs. Pay down debt. Save. Let’s position Bourbon County as a financial leader in the months and years to come.