IRVINE, CA—The turbulent markets in China, Russia and Greece might seem far removed for a retail investor, but that isn't the case, says Rick Chichester, president and CEO of Faris Lee Investments. As he sees it, troubles abroad create even more of a reason to have a deeply considered investment strategy. And retail is a particularly attractive asset. GlobeSt.com joined up with Chichester to get his read on the current environment in this EXCLUSIVE interview leading up to the ICSC Western Conference & Deal Making event in San Diego.

GlobeSt.com: What are your thoughts on a global context when it comes to investment considerations?

Rick Chichester: As the economies of the world today are more integrated and connected than ever, business and investment decisions should not be made independent of a global perspective. One should first consider the influences of the global economy and then filter down to the specific national and regional economies. Globally we are in volatile times as many countries face economic challenges (China, Russia, Brazil, Greece, etc.) and the US economy is expanding, albeit at a moderate pace. In the US the cost of stabilizing our economy and positioning it for growth has not been without consequence. The Fed has increased the money supply (debt) by $3.1 trillion since 2008; its balance sheet is leveraged 77 to 1 ($56.2 billion of reserves supporting $4.3 trillion of liabilities) as opposed to 2008 leverage of 22 to 1. Core inflation is 1.2% and unemployment/under employment/part time employment still is not producing the employment levels necessary for a stable and balanced consumer-based economy. It has been estimated that when considering the aggregate unemployment/underemployment, the real rate of unemployment is closer to 22%. The Fed's interventions were important, but debt cannot continue to be used to artificially grow our economy locally or internationally. We need to get back to a historically normal base rate, as much as the international markets might encourage us against this course.