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Absolute Wealth Columnist Predicted Greek Economic Fallout

by admin on December 14, 2012


Austin, TX (PRWEB) May 18, 2012

James R. Gorrie, Managing Editor and columnist of AbsoluteWealth.com, is on record as having accurately predicted the economic struggles and outcomes of Greece. The European nation drowned in debt and forced into bailouts has been on the forefront of economic minds given that its collapse started.

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As far back as last yr, Gorrie created his hypothesis of the Greek predicament in his day-to-day The Gorrie Specifics column, a notable and prevailing outlook on financial matters producing globe news.

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As the predicament in Greece unfolds, more and a lot more predictions from last many years Gorrie Specifics are coming to fruition. Heres a sample of the Greek fortune telling Gorrie has done:

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Back in July of 2011, Gorrie wrote the a lot of billions Greece borrowed from Eurozone banking institutions, which it will never ever be ready to repay, is threatening the quite existence of the euro But, with the new deal that has been struck, everything will be just fine… The Eurozone countries will cover about 70% of it, with the IMF selecting up the slack on the remaining 30%. At least, in idea In reality, European banks dont have the income to cover Greece and the subsequent nation behind it in the increasing line of Eurozone nations in crisis.

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Prior to that, in an additional column from July, 2011, Gorrie said If you believe the violence in Greece in bad now, just wait until finally Greece loses what is left of its sovereignty, with austerity measures imposed by the European Community, backed up by European Union military forces. Anticipate the exact same to happen in Spain, or any other EU country in a comparable predicament.

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And yet again, in a September, 2011 column Gorrie accurately noted that The greatest US income industry funds hold about $ one trillion of debt by European giants like BNP Paribas, Barclays PLC and Deutsche Bank, and those banks own scads of Greek and other European sovereign debtIf Greece defaults on its financial debt, Greek government debt would no lengthier be viable collateral for the European Central Financial institution (ECB). And individuals banks will have their financial debt-to-equity ratios severely impaired and they could turn out to be insolvent themselves. Which implies the Greek crisis gets a European financial debt crisis, which gets to be An American crisis.

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This kind of anticipatory analysis has assisted make Gorrie a top financial prognosticator, particularly when it comes to complex foreign issues and how they affect the United States.

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James R. Gorrie was a doctoral candidate in worldwide relations and comparative politics with an location specialty in global political economy. As a monetary advisor, his customers have included a former presidential economic advisor, organization owners and high net really worth individuals.

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As Managing Editor of Absolute Wealth and The Empire Report with George Ross, James writes daily posts on current macro-financial and investment matters, special reports, and analyses on geopolitical activities about the world that result the market.

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Absolute Wealth is an professional crew of real investors and advisors devoted to identifying winning methods for exceptional returns. Members subscribe to the Independent Wealth Alliance for skilled investment assessment and recommendations on the most recent trends and progressions. For much more info and subscription instructions, go to AbsoluteWealth.com.

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