Global Asian markets experience a decline amidst Kiyosaki's warnings of an impending depression.
Casual Take on Kiyosaki's Latest Predictions
Robert Kiyosaki, the guy behind "Rich Dad Poor Dad", reckons the economic storm he's been warning about for yonks is well and truly here. On his social media platform, he let his 2.7 million followers know that the U.S. could be staring down the barrel of an economic depression, not just a recession.
In his book, "Rich Dad's Prophecy", he forecasted the mother of all stock market crashes that would wipe out the financial security of millions of investors. According to him, that big one finally landed. We're definitely in a recession, and things are looking pretty grim for a depression too.
As the markets keep sinking, Kiyosaki continues to champion alternatives outside Wall Street. He's been beating this drum for ages, always telling folks to check out assets like gold, silver, and Bitcoin. This time around, he's particularly vocal about Bitcoin: "Look, I've been telling you for years to eye up non-WALL STREET assets. And I've been singing Bitcoin's praises for a while now. So, if you're not already in on Bitcoin, you might wanna consider it."
What's his argument? Well, he reckons the government will respond to the crash by printing more money like there's no tomorrow. This move will devalue the dollar even more, pushing the prices of real assets like food, housing, energy - you get the picture - even higher.
He's also quick to point out that this isn't about assets increasing in value. Instead, it's about the dollar losing its purchasing power. He puts it in simple terms: "Y'all, gold, silver, and Bitcoin aren't getting more expensive. What's happening is the dollar is getting less valuable, causing everything of value to become more costly. Inflation, y'know?"
He wrapped up by warning about some stormy times ahead: "Remember, crew, the dollar ain't what it used to be. So, prepare for some rough seas. Take care; there's gonna be some choppy waters ahead."
Monday's Asian Market
Major stock indices took a beating in Monday's Asian trading session, with some markets losing up to 10%. Cryptocurrencies didn't fare much better, with Bitcoin slipping below $77k, down over 7%, while Ethereum and XRP fell more than 15%.
Extra Credit
Kiyosaki's predictions are rooted in several factors, including record-high levels of credit card debt, national debt, rising unemployment, and a weakening retirement system. To mitigate potential economic losses during this period, he advises investing in alternative assets like Bitcoin, gold, and silver. He believes these assets can provide stability and growth during economic downturns. In fact, he's forecasted that Bitcoin could reach between $180k and $200k by 2025. His advice is to act quickly in acquiring these assets, as those who wait might miss opportunities to build wealth before a potential economic collapse. He advocates moving away from traditional Wall Street investments like stocks and bonds, which he thinks will be heavily impacted by rising interest rates and market volatility.
- Robert Kiyosaki, echoing his past warnings, expressed his belief that the U.S. is headed towards an economic depression, not just a recession.
- In response to the economic crash, Kiyosaki advises against investing in traditional Wall Street assets and suggests considering alternatives such as Bitcoin, gold, and silver.
- Kiyosaki forecasts that Bitcoin could reach between $180k and $200k by 2025, a potential opportunity for wealth-building during economic downturns.
- On a day when major stock indices and cryptocurrencies like Bitcoin, Ethereum, and XRP took substantial losses, Kiyosaki's warnings of rough economic times ahead seem increasingly relevant.
