http://www.peterkinch.com Sept. 22, 2011 Today's mortgage minute addresses the ongoing issues facing Europe as they brace themselves for the inevitable Greek default. Even Mark Carney and the US Fed are expressing their concerns and impatience with the EU's failure to find a solution. In the meantime, Ben Bernanke reaches back in time to find a creative solution to stimulate the US economy called 'Operation Twist' -- a strategy that has not been used since 1961!
Bottom line is that things in the US and Europe are going to get a lot worse before they get any better. This will result in a further drag on the Canadian economy and prolong the period of low interest rates.
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