Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
Rich Dad Poor Dad’s Robert Kiyosaki Warns Inflation Could Lead to Great Depression – Finance Bitcoin News
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the current inflation could lead to a “Great Depression”. He added that property crashes and foreclosures are up 700% from last year.
Robert Kiyosaki’s Depression Warnings
Rich Dad Poor Dad author Robert Kiyosaki voiced new concerns about the US economy on Wednesday. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. More than 32 million copies of the book have been sold in over 51 languages in more than 109 countries.
He tweeted: “Warning: Inflation can lead to Great Depression.” The famous author added that real estate is crashing, foreclosures are up 700% from last year, and layoffs are starting.
This was not the first time Kiyosaki has warned of a coming Great Depression. “Every 90 years there is a giant stock market crash followed by depression. 90 years ago, 1929 was followed by [the] Great Depression that lasted 25 years until 1954,” he tweeted in August 2020, adding:
Will history repeat itself? I think so.
Kiyosaki warned of hyperinflation and depression in April, predicting that the US dollar is about to implode. He reiterated in May: “Bad news. The depression is coming.” In another tweet, he warned that stocks and bonds are crashing, and stressed that depression and civil unrest are coming.
Last week, the author of Rich Dad Poor Dad said he is in a cash position and is waiting to buy real estate and bitcoin, stressing that asset prices are crashing. He has been waiting for BTC to bottom out before buying more. Last month, he revealed that he is waiting for the price of the largest cryptocurrency to test $1,100 to buy more.
What do you think of Robert Kiyosaki’s warnings? Let us know in the comments section below.
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