The author of Rich Dad Poor Dad, Robert Kiyosaki, gave a series of warnings regarding the U.S. economy Friday.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Kiyosaki tweeted that a Wile E. Coyote moment and the biggest bubble burst are coming. Claiming that hyperinflation and depression are here, the famous author recommends buying gold, silver, and bitcoin “before the coyote wakes up.”
The author of Rich Dad Poor Dad opined that baby boomers retirements will be “stolen” and that the $10 trillion in fake money spending is ending. He called the U.S. government, Wall Street, and the Federal Reserve thieves.
Moreover, Kiyosaki tweeted early this month: “Repo market inversion. Last time this happened was 2008 … In 2008 I borrowed $300 million to buy great real estate, at bargain prices. Time to get rich coming again. Time to get smart, not greedy.” Emphasizing that weak businesses and greedy investors will fail, the famous author wrote:
Be careful. Recession and crash coming.
A growing number of economists and forecasters are now saying that a recession is on the horizon for the U.S. economy as the Federal Reserve continues to fight the highest inflation in more than 40 years.
JPMorgan Chase CEO Jamie Dimon, for example, said this week that the risk of the Federal Reserve tipping the U.S. economy into recession is rising. Former Treasury Secretary Larry Summers also said a recession is “the most likely” outcome for the U.S. economy, not a soft landing.
In October last year, Jack Dorsey, the CEO of Block Inc. and former CEO of Twitter Inc., predicted that hyperinflation will soon happen in the U.S. and the world. Recently, Mexicos third-richest billionaire, Ricardo Salinas Pliego, also warned about severe dollar inflation. He recommended buying bitcoin.
In addition, Kiyosaki has warned about a massive crash many times. Predicting a “giant stock market crash” in October, he noted that after the crash, the U.S. will slide into a new depression. He further warned that we are in the biggest bubble in world history.
Last month, the Rich Dad Poor Dad author said the U.S. dollar is about to implode, recommending investors buy more gold, silver, bitcoin, ethereum, and solana. He emphasized that the world is in trouble and the U.S. national debt is going through the roof.
In the same month, Kiyosaki warned that the government will seize all cryptocurrencies. Nonetheless, he predicted the end of the U.S. dollar, noting that the Russia-Ukraine war is giving rise to crypto as a safer haven than the governments “fake fiat money.”