In a tweet on Monday, Robert Kiyosaki, the author of the best-selling book “Rich Dad Poor Dad,” warned of a potential depression and advised caution for those whose futures depend on stocks and bonds.
What Happened: Kiyosaki expressed his concerns about the stock and bond markets, stating that he sees signs of a severe crash. “Afraid depression coming,” the prominent author said.
As an entrepreneur, Kiyosaki prefers to have more control over his investments and does not participate in these markets. He urged those who do to be careful and possibly seek professional advice.
See Also: Crunch Time For The Dollar: Major Macro Data On The Horizon
Why It Matters: Kiyosaki’s warning comes amid a backdrop of increasing economic uncertainty. He has previously predicted a “giant crash” and suggested that the BRICS meeting could be the final nail in the coffin for the dollar.
His latest comments add to the growing concerns about the stability of the global economy and the potential risks associated with traditional investment vehicles like stocks and bonds. His views align with his previous prediction of Bitcoin’s BTC/USD rise as an alternative investment.
Earlier this year, Kiyosaki had warned of an impending financial crash, citing signs like low prices and empty tables at a restaurant.
The author’s observations were interpreted as a fear of a potential recession, which has been accentuated recently despite the pause in rate hikes during the Federal Reserve’s June policy.
His latest tweet aligns with his long-standing belief in the value of tangible assets and cryptocurrencies over traditional fiat currencies. He has predicted that Bitcoin could reach $120,000, further emphasizing his faith in cryptocurrencies as a hedge against the potential downfall of fiat currencies.
Photo Courtesy: Wikimedia Commons
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