Managing Editor at Absolute Wealth James R. Gorrie covers the economic environment in America throughout his latest “The Gorrie Details” Editorial Column.
Austin, TX (PRWEB) August 10, 2012
The Gorrie Details, Absolute Wealth’s Editor’s Column from Managing Editor James R. Gorrie, uncovers the topic of saving money in a desperate economic situation like America is witnessing.
According to Gorrie, America is clearly living beyond its means. Spending too much and not saving enough has Gorrie worried that the country will never reconstruct its prosperous status as an economic superpower.
“The old assumptions used to be that when we Americans saved money, we put it in the bank,” said Gorrie. “A nation of savers was a good thing, because when more people saved money in the bank, there was more money to lend. Saving money in the bank used to be not only a prudent and thrifty thing to do in one’s personal financial life; it was also an act of faith in the country.”
In Gorrie’s view, not spending money is the same as “betting against the home team.”
The article said this about the 2012 Survey of Affluence and Wealth in America, from American Express Publishing and Harrison Group: “The survey found that those who still have large chunks of dough, otherwise known as the One Percenters, are hoarding three times as much cash as they were two years ago.”
And that, according to Gorrie, is what’s signaling such dire economic circumstances. “Should it bother us that the rich aren’t about to invest in a sinking ship?” he asks in the article. “I’ll tell you what; it bothers me.”
Gorrie’s articles on economic issues help to inform people of their financial options, or lack thereof, as a result of the big, impactful happenings in the private and public sectors.
James R. Gorrie has more than eighteen years of financial advisory experience. He holds a BA in economics, and attained doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy. Gorrie writes daily articles on current macroeconomic and investment topics, Special Reports, and analyses on geopolitical events around the world that affect the market.
Absolute Wealth is an expert team of real investors and advisors devoted to identifying winning strategies for exceptional returns. Members subscribe to the company’s Independent Wealth Alliance for professional investment analysis and recommendations on the latest market trends and progressions. For more information and subscription instructions, visit AbsoluteWealth.com.
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This article (Absolute Wealth Publishes Latest Editor Column on Betting Against America) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
