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Today’s “Whacky World” of Economics

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We keep hearing that interest rates are going up but then they never do.

  In fact, in some countries, rates have gone below zero.  That’s right, you have to pay the government to hold your money.  And at the same time, unemployment rates are among the lowest they’ve been in decades but this fact doesn’t seem to be putting any upward pressure on wages.  What’s going on?  Our next guest says it’s a “whacky new world”!

 

Mike Switzer interviews Frank Hefner, director of the Office of Economic Analysis at the College of Charleston

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.