Robert Kiyosaki expects a market crash and economic crisis - do you believe it?

[kryptqnick]

I thought the economy was already in recession, so I'm not surprised. I've seen 2020 predicted as a year of the crash prior to Covid, and it's not like Covid made things better for the economy (see here, and here, for example). So, honestly, I'm surprised the economy didn't explode by now. And I don't think it's possible to completely avoid an economic crisis, I think it's only possible to delay it by a couple of years (which, clearly, has already happened). Okay, maybe not crises, but at least recessions are bound to happen quite regularly. But given the heavy impact of the pandemic, I think a crisis is only natural.

[teosanru]

As per an article published on yahoo Finance, Mr. Robert Kiyosaki, who is famous for his book series known as "Rich dad poor dad", has issued a warning that a market crash and economic crisis is incoming.

Read it here: https://finance.yahoo.com/news/rich-dad-poor-dad-author-115446211.html?

Also, he said that he plans to buy gold, bitcoin, and real estate when the price goes down. Mr. Robert Kiyosaki is a prominent investor who has a net worth of more than 100 million dollars and also a supporter of bitcoin.

Do you think that a market crash similar to 2008 is indeed coming? If yes, then why? What are the indicators your follow to predict the market in general? Let's assume the crash is indeed coming then how would you like to prepare against it?

Let's discuss! 


 

There is no discussion on this to be honest, these market gurus have a habit of predicting crash now and then and when such a thing doesn't takes place they very conveniently give some excuse or explanation which their fans easily digest, Robert Kiyosaki gave a very similar sort of statement in 2017 also, here you can see: https://www.marketwatch.com/story/rich-dads-kiyosaki-hasnt-given-up-on-his-dismal-market-prediction-2017-02-28 , But I have not seen market crashing anyway after that, market has gone down in cycles but something like the 2008 crash has never happened so, do your own analysis and stop bothering what these gurus say, if there is going to be a crash these people won't shout out these things loudly.

[Betwrong]

I don't like people spreading panic, and from the comments above I see that this guy, Mr. Robert Kiyosaki, is one of those people. The more I read about him, the more it looks like he cares about one and one thing only - to sell more books. Also it looks like he's overall a shady person. So, I wouldn't trust him.

That doesn't invalidate his concern about the economy. They are smart people and the way of their thinking is unique so it will be better to stay aware.

Yeah, but I'd rather listen to the concerns of real economists than of a shady businessman and author whose books advise illegal practices and "taking more debt on credit cards than one can handle and declaring bankruptcy whenever one's plans go awry". I mean, c'mon! Do you want to listen to him?

You don't have to be super smart to know that economic crisis is coming. It's like predicting in the evening that night is coming. Yeah, it is. But there will be morning again.

[Mauser]

Do you think that a market crash similar to 2008 is indeed coming? If yes, then why? What are the indicators your follow to predict the market in general? Let's assume the crash is indeed coming then how would you like to prepare against it?

Let's discuss! 
 

Predicting the next financial crisis is very hard, because we not only need to identify the area where the crash is coming from but also the timing. We could be right about the crash but be 2 years too early with our prediction, if we position our whole portfolio for a crash might lose money until the crash actually happens.
I don't believe that there is crash coming any time soon. We have been in this covid mess for 2 years now and the crash didn't happen. The covid recovery should have a positive impact on the economy. However I could be wrong, so having assets like gold, silver and crypto currencies would be good to protect us from a crash. Another investment that makes sense is real estate. If we own the apartment we live in than a crash will hurt us not as bad. Saving the monthly rent payments is helping a lot on difficult times.

[jrrsparkles]

Not because of he is saying, we are actually facing issues in the global economy even the developed countries so they printed more money as a temporary solution to bring the cashflow into their economy but it will affect the growth of the overall economy a lot in the future which is a depreciation of economy can also be considered as crisis.

[jaberwock]

I'd rather listen to the concerns of real economists than of a shady businessman and author whose books advise illegal practices and "taking more debt on credit cards than one can handle and declaring bankruptcy whenever one's plans go awry". I mean, c'mon! Do you want to listen to him?

You don't have to be super smart to know that economic crisis is coming. It's like predicting in the evening that night is coming. Yeah, it is. But there will be morning again.

Well, I do think that you have some points there. Normally with the way that things has been going, and everything that we have seen from last year till now, the government taking loans and printing more money, and all that, it is normal for anyone to say that there is going to be a breakdown on the economy.

Most countries did experience that, but that doesn’t mean that things would go down and not come up again. Same as you, I am not the type of person that likes it when people are trying to spread panic, but I do think sometimes that we also have to say things that we are supposed to say, no matter if is going to make people to panic or not. We don’t have to sugar coat everything at all times, sometimes you have to just say it as it is. But like I said at first, you do have some points there and I’m not against what you have said.

[Ozero]

A global economic crisis is possible. All states have spent a lot of capital on unprecedented measures to combat the coronavirus pandemic. Moreover, in my opinion, these measures are overstated and unjustified. Over the years of the pandemic, the economies of all countries have fallen dramatically, small and medium-sized businesses are in decline, prices and inflation are rising and breaking records. The economic crisis, and this is one of the possible scenarios for the development of events. At the same time, this is a really good opportunity for cryptocurrency to show itself as an anti-inflationary currency. Anything bad has something good.

[mindrust]

As per an article published on yahoo Finance, Mr. Robert Kiyosaki, who is famous for his book series known as "Rich dad poor dad", has issued a warning that a market crash and economic crisis is incoming.

Read it here: https://finance.yahoo.com/news/rich-dad-poor-dad-author-115446211.html?

Also, he said that he plans to buy gold, bitcoin, and real estate when the price goes down. Mr. Robert Kiyosaki is a prominent investor who has a net worth of more than 100 million dollars and also a supporter of bitcoin.

Do you think that a market crash similar to 2008 is indeed coming? If yes, then why? What are the indicators your follow to predict the market in general? Let's assume the crash is indeed coming then how would you like to prepare against it?

Let's discuss!  

This guy is a clown. He has been waiting for a market crash for years. Soon he will be right but now because he can predict the future. It will be because the markets crash every once in a while. Can you guess the time of the crash? You can't. Then why stay out of the markets?

You don't know how high the markets can get before it crashes. Every day the markets don't crash, you lose money if you are not invested in the markets.

[geegaw]

A global economic crisis is possible. All states have spent a lot of capital on unprecedented measures to combat the coronavirus pandemic. Moreover, in my opinion, these measures are overstated and unjustified. Over the years of the pandemic, the economies of all countries have fallen dramatically, small and medium-sized businesses are in decline, prices and inflation are rising and breaking records. The economic crisis, and this is one of the possible scenarios for the development of events. At the same time, this is a really good opportunity for cryptocurrency to show itself as an anti-inflationary currency. Anything bad has something good.

Well, accept to print more money, accept to open more budget and support and many strategies are being implemented at the same time but the pandemic is still not repelled by such methods, even Covid accepts the struggle in a persistent method full of new transformations, budget burnout as well as red alarms on people and assets are the current landscape of the economy. Victory is gradually being pulled towards the global economic crisis, the balance sign created by the governments of the countries is no longer a trace, maybe instead of doubting and holding on to a ray of hope, we should honestly prepare

[Coyster]

As per an article published on yahoo Finance, Mr. Robert Kiyosaki, who is famous for his book series known as "Rich dad poor dad", has issued a warning that a market crash and economic crisis is incoming.  

Well it's basically obvious that this person is just speculating to either cause panic/Fud, or just to trend on social media, only newcomers to the network will take this statement seriously, mind you also that the best thing to do is for one to carry out his personal research, if after doing so you come to the conclusion that there's going to be a crash/economic crisis, then you work towards somewhat curtailing it, my point is basically just this, do not allow someone else's opinion about the network/market influence you, cause the person can be absolutely wrong, just DYOR.

[EdenHazard]

I thought the economy was already in recession, so I'm not surprised. I've seen 2020 predicted as a year of the crash prior to Covid, and it's not like Covid made things better for the economy (see here, and here, for example). So, honestly, I'm surprised the economy didn't explode by now. And I don't think it's possible to completely avoid an economic crisis, I think it's only possible to delay it by a couple of years (which, clearly, has already happened). Okay, maybe not crises, but at least recessions are bound to happen quite regularly. But given the heavy impact of the pandemic, I think a crisis is only natural.

They are fall to a big name like robert kiyosaki and the likes.

guess that the media loved twisting shit all over the country. perfect match.
he wishes too much about how the crypto market growing a lot when people living in fear .. especially in US then bring those fear circle into crypto which so far it didnt work for him lol. unfortunately.

[pealr12]

They are fall to a big name like robert kiyosaki and the likes.

guess that the media loved twisting shit all over the country. perfect match.
he wishes too much about how the crypto market growing a lot when people living in fear .. especially in US then bring those fear circle into crypto which so far it didnt work for him lol. unfortunately.

This is his wish to see crypto market crash and then he will act like a genius, he fails to realize even if the crypto market will go down a lot it will always find its way back up and perform better than before, that keep spreading fud to bring panic in the market, the economy is already experiencing crisis since before covid and it gets worsen in covid, it is no longer news.

[Davidvictorson]

They are fall to a big name like robert kiyosaki and the likes.

guess that the media loved twisting shit all over the country. perfect match.
he wishes too much about how the crypto market growing a lot when people living in fear .. especially in US then bring those fear circle into crypto which so far it didnt work for him lol. unfortunately.

This is his wish to see crypto market crash and then he will act like a genius, he fails to realize even if the crypto market will go down a lot it will always find its way back up and perform better than before, that keep spreading fud to bring panic in the market, the economy is already experiencing crisis since before covid and it gets worsen in covid, it is no longer news.

Another way to look at crashes is like looking at earthquakes. We know markets do crash due to their nature. We know that earthquakes happen in California due to the nature of the earth's crust. If someone says a major earthquake will happen in California and at some point the earthquake happens, that person didn't give any new knowledge about earthquakes in California. They didn't predict the earthquake if they do not give any time and size information. They are just spouting the basic information we all know about earthquakes in California in general. The same can be said about those who say a crash in coming and at some point it does come, that person didn't give any new knowledge about crashes. They didn't predict the crash because they gave no predictive information like the size of the crash, the time frame of the crash, or the specific conditions that will lead to that specific crash.

[Silberman]

Never forget that these whole market crashes are something you could take advantage of. If you are in crypto and you are growing your portfolio, that means during the recovery it will be able to recover a lot faster. Why? Because in order to increase the price of gold there needs to be trillions, in order to increase the price of tesla there needs to be god knows how many billions, but in order to increase bitcoin we just need people not selling at cheap, literally that's it.

As long as they do not sell for cheap, we are going to have a very little liquidity at the low levels and high liquidity all going into higher prices, it requires a lot less money to increase crypto, imagine buying 15 billion dollars worth of tesla and 15 billion dollars worth of ETH, which one would skyrocket more? Of course ETH would do. So be ready and if a crash comes, we will be better at crypto than any other fiat investment.

True, however as more institutional investors come to this market and the price of bitcoin keeps increasing at some point the returns that bitcoin can give will become smaller, however even then due to its scarcity bitcoin will be forever a good option to protect yourself from the harmful effects of inflation, so I am not really worried about what it is to come, still it would be nice if the crisis that we know is coming did not happened immediately so it gave us more time to buy even more bitcoin.

[EdenHazard]

They are fall to a big name like robert kiyosaki and the likes.

guess that the media loved twisting shit all over the country. perfect match.
he wishes too much about how the crypto market growing a lot when people living in fear .. especially in US then bring those fear circle into crypto which so far it didnt work for him lol. unfortunately.

This is his wish to see crypto market crash and then he will act like a genius, he fails to realize even if the crypto market will go down a lot it will always find its way back up and perform better than before, that keep spreading fud to bring panic in the market, the economy is already experiencing crisis since before covid and it gets worsen in covid, it is no longer news.

Enough watching kiyosaki drama , i respect a lot him for being inspirational through his legendary books , i can say my life has changed because of him.
but this time , it's too much. he is exaggerrated things and seems to be desperated bout his holding in crypto.

despite that another covid wave hit europe now , i wish shit wont happened again in 2022. enough.

[boyptc]

Always a crash is anticipated.

A person like him that's diversified with his investments would scare out the little investors and do what he says. He's like condescending person who thinks he's the best in investments.

We can count his credentials and successes but people like always take advantage of their success to show it off to the people that everything they say is like what exactly is going to happen.

[fiulpro]

Let's wait for a second and ponder upon the thought:
Aren't we already experiencing the market crash??
Aren't we already in an economic crisis?
Don't you remember when one mast sold for like 10$ or something??
Aren't people already jobless, homeless, unable to recieve private or public care in the hospitals??

-We are already in an economic crisis, the governments can collapse any second of the day and the thing is, all of this is kind of hidden therefore there is no way to figure out when the things will take turn for the worst. I do think that you should also look into the debt and printing money regarding the US government as well.

[HardCore12V]

Yes I do but the timing might be wrong, what goes up most come down and crypto will always remain volatile no matter how huge the adoption rate is, since 2020 now crypto market have seen insane growth that has never happened before, if you keep thinking that this will keep up forever you are fooling yourself

[DaveF]

IMO yes there is a crash coming.
This is all Dave's opinion and nothing more.

1) There are a lot ob businesses out there that rely on cheap money / low interest rates. They have been deluding themselves that everything is fine since the crash in 2008 while borrowing insane amounts of money to stay afloat. Now that interest rates are going to rise they are going to implode....and blame everyone but themselves. That is going to be the start.

2) The 2nd part is going to be businesses who have not changed with the times. You can blame boomers / millennials / democrats / republicans but it does not matter. We are in a different world then we were in 2 years ago. It was going to change anyway, covid just made the changes faster. Is you restaurant not on Uber Eats / GrubHub / Door Dash. We;; guess what, you are going to loose a ton of business.

3) People who have been riding cheap credit the same way I have businesses in #1 above, sorry people shit is going to get real. Be prepared to sell stuff or loose your home.

And then it all comes tumbling down.

However, since the current younger generation has seen this in the 2000 crash and the 2008 crash they are going to be more prepared for it and adapt better and more quickly then the boomers that were fully in charge in 2000 / 08 (full disclosure I am VERY close to boomer age)


-Dave

[STT]

Sounds like he is holding US dollar notes hoping and waiting for the price of other assets to go down relative to that asset.   The note held by Robert is a debt note with a zero coupon and the value of dollar is not likely increasing because by design its being undermined.   The danger he is overlooking is not the asset prices crashing but the price of debt will fail and reflect its inability to outperform inflation in the cost of goods generally.
   A working asset will and should always do better then a non performing asset long term.  I understand speculation and supply can over take demand in the market cycle its true but there is also the danger of being caught holding something the world neither wants or needs.   Positive world GDP is billions of people who are poor but capable of productive work and they choose to buy commodities and things they require, the debt note we've held as money for so long may not always be as in demand as it appears now.