Robert Kiyosaki, the author of Rich Dad Poor Dad, expressed new concerns about the US economy on Wednesday. Kiyosaki and Sharon Lechter co-wrote Rich Dad Poor Dad in 1997. It has spent nearly six years on the New York Times Best Seller List. More than 32 million copies of the book have been sold in more than 51 languages and 109 countries.
“Warning: Inflation may lead to greater depression,” he tweeted. According to the famous author, real estate is collapsing, foreclosures are up 700 percent over last year, and layoffs are beginning.
This was not Kiyosaki's first warning about an impending Great Depression. “Every 90 years, a massive stock market crash is followed by depression.” “90 years ago was 1929, followed by [the] Great Depression, which lasted 25 years and ended in 1954,” he tweeted in August 2020, adding: “ ”Will history repeat itself？ I think so.
In April, Kiyosaki warned of hyperinflation and misery, warning that the US dollar was going to implode. “Bad News,” he said again in May. “Depression on the way.” In another tweet, he warned that equities and bonds are collapsing, predicting depression and civil upheaval.
Last week, the Rich Dad Poor Dad author stated that he has cash on hand and is ready to buy real estate and bitcoin, noting that asset prices are falling. He has been waiting for BTC to reach a bottom before purchasing more. He said last month that he is waiting for the price of the largest cryptocurrency to reach $1,100 before purchasing more.