Noted best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, has warned that the current inflation could lead to a “Great Depression.” he added that real estate is failing and foreclosures are up 700% from last year.
Robert Kiyosaki’s Depression Warnings
Rich Dad Poor Dad author Robert Kiyosaki on Wednesday raised new concerns about the state of the US economy. Rich Dad Poor Dad is a 1997 book co-written by Kiyosaki and Sharon Lecter. It was on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 51 languages in over 109 countries.
He tweeted: “Warning: inflation could lead to a Great Depression.” The well-known writer added that real estate is failing, foreclosures are up 700% from last year, and layoffs are starting.
This was not the first time Kiyosaki had warned of the coming Great Depression. “Every 90 years there is a giant stock market crash followed by a depression. 90 years ago was 1929, followed by [the] The Great Depression 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 was about to collapse. In May, he repeated: “Bad news. Depression is coming.” In another tweet, he warned that stocks and bonds were falling, stressing that depression and civil unrest were coming.
Last week, the author of Rich Dad Poor Dad said he had money waiting to buy real estate and bitcoin, stressing that asset prices are falling. He was waiting BTC to the bottom before buying more. Last month, he revealed that he was waiting for the price of the largest cryptocurrency to test $1,100 in order to buy more.
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