Predicting an occurrence and later it comes to happen is a rare thing. However, an economist by the name George Soros has proved to be a prophet but not a false one as evidenced by his recent prediction on 2016 financial markets crisis. He was brought up in Hungary and fate made him flee his motherland when a teenager and became a foreigner in Britain. He enrolled in London School of Economics for a bachelor degree in philosophy and later Ph.D. in the same university. His current prediction is paralleled with the one he did in 2008. The 2008 economic crisis was the major one ever to happen. Before 2008 economic crisis it has built up for over the past for twenty-five years just to collapse in 2008 as Soros had predicted as depicted in his book ‘the new paradigm for financial markets.
The philanthropist cum economic analyst predicted in the recent economic forum held in Sri-Lanka a similar or rather a worse situation to happen in the year 2016. His financial investments wisdom has made him the most respected analyst in the world and a whistle blower at the same time. Only a blind investor will play a deaf year for his predictions given the current economic situation.
All indicators of economic downturn are being experienced globally. An important stock market in the US has a record drop by five percent while the year is just beginning. George Soros predicted on uncommonwisdomdaily.com this judging him right. He further predicted a worse situation than the one experienced in 2008. At two hundred and twenty-five trillion dollars, the global debt to the value of GDP stands at two hundred and fifty percent. This depicts a negative indicator when it comes to macroeconomics. In the year 2008 the major factor that contributed to economic crises is the largest economic hub- the US when it lowered interest rates to promote housing to its citizens. However, the current (2016) economic slump is emerging from the Chinese economy- the second largest economic hub.
The Chinese government has a record debt- GDP ratio of well above two hundred and forty percent. Consequently, this crises spills to the rest of the economies in the world. This is another indication that Soros prediction is right. His prophecy was also seconded by IMF President when he said 2016 economic stability will be in crisis. The World Bank also recorded a downward trend in economic growth from 3.3% to 2.9% again this proves that Soros was right. , however, several institutions are putting measures to curb or maintain the economic growth. For further details on George Soros is write visit http://www.uncommonwisdomdaily.com/george-soros-is-right-22082