'The prediction of a future economic depression by the author of 'Rich Dad Poor Dad' has been refuted, following the release of the latest Consumer Price Index report.'
Robert Kiyosaki, the best-selling author of "Rich Dad Poor Dad", has recently predicted an approaching Great Depression for the U.S. economy, triggered by structural economic problems such as the imminent collapse of the bond and stock markets, a crashing commercial real estate market, and a Moody's downgrade of U.S. bonds.
Kiyosaki warns of a massive stock market crash that will severely impact retirement accounts like 401(k)s. In contrast to stocks and bonds, he considers real assets like gold, silver, Bitcoin, oil, and cattle to be more reliable. He notes increased gold purchases by Asian traders and personally holds gold and silver mines to benefit from the crisis.
Despite the bearish view, Kiyosaki also anticipates a short-term crash in gold, silver, and Bitcoin prices as market bubbles burst. He sees this as a buying opportunity to increase holdings in these assets at lower prices, consistent with his strategy of acquiring undervalued real assets during economic downturns. He has previously expressed a positive long-term outlook on silver, expecting its price could double.
On a different note, Anthony Pompliano, ProCap CEO and VC investor, has commented on the recent Consumer Price Index (CPI) report. According to Pompliano, the lower-than-expected CPI of 2.7% for September indicates all-time highs in the economy, not the predicted Great Depression. He has also been vocal about Bitcoin and criticized those who predicted empty shelves and a Great Depression.
In summary, Robert Kiyosaki emphasizes severe economic risks ahead and the importance of real assets as protection, while also preparing for short-term asset price crashes to buy in cheaper. Anthony Pompliano, on the other hand, sees the economy experiencing all-time highs, contradicting Kiyosaki's predictions. Both Kiyosaki and Pompliano are vocal Bitcoin advocates.
- Robert Kiyosaki, a proponent of Bitcoin, sees a short-term crash in Bitcoin prices as market bubbles burst, viewing this as a buying opportunity.
- Kiyosaki, the author of "Rich Dad Poor Dad", encourages personal-finance management strategies that involve investing in assets like Bitcoin and gold during economic downturns.
- In contrast to Kiyosaki's predictions, Anthony Pompliano, a VC investor, believes the recent Consumer Price Index (CPI) report indicates all-time highs in the economy, not a looming Great Depression.
- Both Kiyosaki and Pompliano have expressed strong support for crypto trading, with Kiyosaki holding gold and silver mines and Pompliano critiquing those who predicted doom and emptied shelves.
