'Rich Dad, Poor Dad' Author Warns Inflation May Lead To 'Greater Depression'

"Rich Dad Poor Dad” author Robert Kiyosaki says inflation may lead to a “Greater Depression.” 

What Happened: Kiyosaki said on Twitter that “Real estate [is] crashing. Foreclosures up 700% from last year.”

The personal finance coach also warned of impending layoffs and “dominos falling.” 

“Is your work…or company you work for vital to [the] economy? Are you necessary? If you are…you will do well. Take care,” said Kiyosaki.

WARNING: Inflation may lead to Greater Depression. Real estate crashing. Foreclosures up 700% from last year. Lays offs starting. Dominos falling. Is your work…or company you work for vital to economy? Are you necessay? If you are…you will do well. Take care.

— therealkiyosaki (@theRealKiyosaki) July 20, 2022

Why It Matters: June's Consumer Price Index shot up to 9.1% on a year-over-year basis. These figures were the steepest increase in prices since Nov. 1981.

First Half Foreclosure Data For United States — Courtesy ATTOM

U.S. foreclosure starts are up 219% in the first 6 months of 2022, according to ATTOM, a curator of real estate data. Compared with a year earlier, foreclosures are up 153%.

Previously, Kiyosaki advocated “drilling for oil” and stopping “stupid spending” as antidotes to the ongoing price increases, which he said were “fake.”

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