H L Quist - The Myth Buster

Our FEATURE today focuses on the US economy and signals a major change in the dynamics that will present problems as well as opportunities going forward. For the past 10 years the Federal Reserve has been developing various strategies to increase inflation to a goal of 2% per year. Economists generally now agree that consumer prices have now reached 2.9% on a year over year basis. The Fed's strategy has now switched to making certain that inflation does not get out of control. Jaime Dimon, CEO of JP Morgan Chase was quoted as saying,"You better be prepared to deal with rates 5% or higher". Increased interest rates in the US have led to a very strong US dollar which is creating problematic consequences all over the world. A "Minsky Moment" may be at hand. Other topics include: Turkey's lira implodes, "Bankruptcy is Surging for Older Americans", US Federal judge approves seizure of Venezuela's Citgo Petroleum, Crystallex Mining wins back its' mining rights, Face Book asks banks for our personal financial data,