Robert Kiyosaki, best known as the author of the bestseller Rich Dad, Poor Dad, predicted a depression and civil war. He also warned of a stock market and bond market crash.
Robert Kiyosaki on market crashes, depression, and civil unrest
Robert Kiyosaki, author of “Rich Dad, Poor Dad,” has issued further warnings about the U.S. economy. Rich Dad, Poor Dad was co-authored by Kiyosaki and Sharon Rector in 1997. It has been on the New York Times bestseller list for more than six years. The book has sold over 32 million copies in more than 109 countries and in over 51 languages.
Kiyosaki claims that liberals and environmentalists have caused oil production to decline and inflation to rise, while stimulus checks have paid workers not to work. In addition to predicting that the stock and bond markets are crashing, he warns that depression and civil unrest are coming.
The well-known writer also noted that inflation is killing retailers, even giants like Target and Wal-Mart, and that shoppers are running out of money. Paul Christopher, head of global market strategy at the Wells Fargo Investment Institute, expressed earlier this month that “retailers are starting to see the effects of consumers’ declining purchasing power.”
The author of “Rich Dad, Poor Dad” has been warning about the impending depression for quite some time; in April, he warned that a depression and hyperinflation were coming and advised investors to buy gold, silver and bitcoin. On Friday, he tweeted.
Bad news. Depression is coming.
In April, he explained that bonds are the riskiest investment in a global meltdown.” He opined that “Tragically, rookie investors are following the rookie advice of a 60 (40) (bond) mix.
Earlier this month, he said he remains bullish on Bitcoin and plans to buy moreHe plans to buy more BTCwhen it bottoms out. He expects it could go as low as $9K. The famous writer writes, “Bitcoin is the money of the future.”
Kiyosaki also predicted the collapse of the U.S. dollar earlier this year, stressing that the end of the dollar was coming; in March, he said we were in the biggest bubble in world history.
Image credits: Shutterstock, Pixabay, Wiki Commons