avikz (OP)
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December 13, 2021, 07:01:35 PM |
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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!
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pealr12
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December 13, 2021, 07:47:33 PM |
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Most of the technical analysis channels I follow seem to be very bullish despite having many similar posts like Kiyosaki out there, to be honest, I don't like reading all these very pessimistic articles like this even if it is good to have different knowledge of the market to get prepared, I really hope the crash even there will be any won't be very serious. The world is already going through a lot.
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DrBeer
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December 13, 2021, 09:32:58 PM |
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You can treat Kiyosaki in any way. But it is worth reading and comprehending it! The forecast of a fall in the global economy is more reality than it might seem. Here Covid19 "helped", and the impending collapse of the Chinese economy, and problems for the American economy, and therefore for the whole world. Believe it or not, again, the thought of "buying gold, bitcoins and real estate when the price drops" is a call to very good action. Yes, first of all, do not forget the words - "when the price falls" ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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The Sceptical Chymist
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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.
OP, are you familiar with who Rober Kiyosaki is? If you were, you would know his statements about buying gold and whatever else are complete bullshit. He's been saying the same thing over and over for years, and the fact is that he's a permabull on certain asset classes (like gold and silver). And these kinds of predictions are being--and have been--made by the likes of him and Mike Maloney and Peter Schiff constantly. Just like the media and government, they want you to be living in economic fear or fear in general. That makes it much easier to manipulate you to do things such as buying metals (in the case of Kiyosaki). Don't fall for this crap, and my advice would be to just ignore him and others of his ilk.
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hatshepsut93
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December 13, 2021, 10:20:32 PM |
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When a person who constantly makes the same prediction does it again, there's really nothing special about it. If it was some prominent economist who actually makes in-depth analysis and is not known to have biases or ulterior motives, then it would be something that you would want to pay attention to.
Sooner or later we'll have a global economic crisis again, but this doesn't mean that those who warned about it were right - after all, if you make the same prediction over and over, you will get right eventually, but you will also be wrong most of the time. If they can't predict a close enough timing, such predictions are worthless.
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Gozie51
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December 13, 2021, 10:41:06 PM |
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Also, he said that he plans to buy gold, bitcoin, and real estate when the price goes down.
Can you now see a sense in what he is saying? He is trying to spread fud and get hold of the market cheaply. I see manipulating of price. As a big name he is capable of instigating market sentiment and get it to start dropping rapidly until he enters in. Anyway, I think times have changed. We can see correction and after that the market will stabilize.
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adaseb
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December 14, 2021, 02:32:08 AM |
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The guy has been making this prediction for years and he is always wrong. If you look at his Twitter you can go back and read all the posts and you will see everything. I remember every few months he makes these predictions and if I recall none of them came true.
I never read his books, even though many people swear by them. I just don’t think they would really help you. I think he is a great public speaker and writer but have you met anyone who he has actually made rich? Probably not.
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TheUltraElite
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December 14, 2021, 05:49:38 AM |
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Just another book writer who gets rich by selling books on how to get rich < does that rhyme? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Its a parody of the current world where you have people who are spending a lot on things that go to waste when they can save that money to buy assets while again reading books written by self-proclaimed gurus about how to save money but not doing it. I always say that those who call for certain market movements are essentially doing it for their own gain. Being a permanent bullish person helps you to sell your assets when you want and at whatever price you want. It is a crowd control trick to get more disciples and get rich yourself. They promote bitcoin does not mean that their motives are selfless, it is quite the opposite.
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davis196
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December 14, 2021, 08:11:52 AM |
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Yeah,Robert Kiyosaki is the ultimate financial oracle and all his predictions become true. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Jokes aside,a market crash/economic crisis is always on the menu,with the current fiat financial system. The economy is pumped on steroids by the central banks and if the steroids(money printing/quantitative easing)stop,the economy will suffer a major shock. However,a new great depression most likely won't happen,because the politicians and central bankers have learned their lessons.They will flood the economy with more newly printed money,every time a recession occurs. The will be high inflation in the upcoming years,but I don't expect a recession/depression.
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Chrystora123
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December 14, 2021, 09:42:42 AM |
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When a person who constantly makes the same prediction does it again, there's really nothing special about it. If it was some prominent economist who actually makes in-depth analysis and is not known to have biases or ulterior motives, then it would be something that you would want to pay attention to.
Sooner or later we'll have a global economic crisis again, but this doesn't mean that those who warned about it were right - after all, if you make the same prediction over and over, you will get right eventually, but you will also be wrong most of the time. If they can't predict a close enough timing, such predictions are worthless.
We all know that the world economy will sooner or later experience another crisis, so Kiyosaki's prediction is nothing new, he's just trying to be the fastest in conveying news about this. The best preparation for facing an economic crisis that may occur in the future is to prepare long-term savings assets..
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crwth
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December 14, 2021, 09:49:18 AM |
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We had just come from a market crash last year, and I think to reach that point again can be quite inconclusive. It's not that it's not possible, but do you think the world can still take it? I'm curious about what could trigger it again. Is it going to be another pandemic or another typical problem that we humans must face?
I'm assuming he is enjoying the current market trend now if he could buy a lot of crypto at a low price.
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bakasabo
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December 14, 2021, 10:11:59 AM |
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Never heard that Robert Kiyosaki is good at making predictions. Anyone remember that some of his predictions really came true? I mean a prediction (just one exact) that he has made, and it happened like that. Not like making thousands of predictions and made a hit with only one. I dont expect from him an exact date of a market crash, but at least pointing on a month or a quarter can be good.
In the article I've read that he is predicting market crash for a long period already and his plans. I find this article not as a statement that the market will crash, but what one person will do if market crashes. His plans are logical, everyone will buy low. But he did not predict when this true low price time will come.
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takngantuk
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December 14, 2021, 10:22:51 AM |
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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!
post-pandemic effects and inflation, two reasons enough to make the market crash. I always look at the fundamentals for everything, and right now the chances of a market crash are very high. What I'm prepared to do is maybe move the portfolio to a more stable investment. and for the time being, don't hold Crypto as much as possible. and maybe buying gold isn't bad either, but I don't have any plans for this yet. and i will also stop for a moment to trade stocks and forex. I don't want to make a mistake, it's better to wait and watch the situation.
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Wexnident
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December 14, 2021, 10:25:20 AM |
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Hasn't his predictions always been like this? It's a loop really, he predicts, it fails, he does it again but his predictions don't change. It's just the same predictions always. It's the usual thing where "analysts" spread their so-called analysis and pretty much try to sway the market to how they want to move. Honestly, I think a discussion on what a person would do when an economic crash happens would probably be a lot better than about him.
And on that note, I hardly have anything prepared really, other than investing most of what I can into Bitcoin (and a bunch of other coins) right now.
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franky1
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December 14, 2021, 11:10:13 AM |
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a FIAT market crash(bear) is a btc market uptick(bull) a FIAT market crash is indeed impending. it surrounds the pensions market sector of FIAT
there are two things 1) during the 2008 crisis that affected many businesses. many whispers that businesses had emptied, dipped into their pension trusts of their employees to keep the business afloat, this means that in a few years/decades when its time for larger amounts of employees to retire, the pot of cash left for divvy out to retired employees is empty/dry 2) many new pension schemes since the 1980's have made absurd promises to people which are just not even feasible to fulfil.('locks' guarantee end of career salary from pension age to life expectancy age)
imagine that at 25yo in 1980 you decided to start saving for retirement, you earned $50k a year in 1980 and salary inflated to $158k by 2020 and were paying in 15% pension for them 40 years ($565k)matched by employer(total $1.3m+inflation=$1.95m)
but on your 65th birthday you realise that although 1980's estimates had it that life expectancy was 76, meaning expecting an average of 11 years of life and expecting about an average of $158k income a year.. (sounded great in 1980 when you were only earning $50k) as the pension fund can afford the $1.73m payout of the $1.95m accumulated.
but now people live until 85years meaning 20 years of retirement, meaning $3.16m lump. but pension fund only accumulated $1.95m(bad news.. someones gonna lose or have promise broken)
what then happens is because the lock promises that you get end-of-career salary from retirement age till life expectancy age (65-85) many people then take out this $158k x 20($3.16m) as a lump sum. instead of as a regular income. thus a pension company deficit of $1.22m per pensioner that does this.
leading to the pension fund drying up and unable to pay out to other people reaching pension age later on. ....... this is why you are now seeing more people working passed their retirement age, with promises if they keep working and paying in, then they can get regular income pension. or they take the large single lump sum, knowing they wont get salary matching regular income.
pension funds promise the 'regular income' group things under the hope that those who continue working have bad health and reduce hours(get less salary) so their 'lock' amount when they do finally retire is less then official retirement age 'lock' they should have started claiming...
also they hope they can get old people to work themselves to death to never need to pay out. but with good healthcare, even that evil pension fund hope wont transition to break even the pension fund loses
so yea. expect a pension funds implosion, once the pension funds run dry. (first signs are a increase of % of people claiming lump sums instead of regular income/working for extra years) its why you see government adverts trying to push more people into starting their pension plans at earlier ages, its become a ponzi to try keeping pension funds afloat
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mk4
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December 14, 2021, 11:14:32 AM |
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"even a broken clock is right twice a day."
He's no different from the likes of Peter Schiff; the difference is just that Kiyosaki has some bitcoin. If you call a crash every year, at some point you're going to be right; but that doesn't mean your portfolio is going to get optimal results.
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LogitechMouse
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December 14, 2021, 01:06:22 PM |
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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.
OP, are you familiar with who Rober Kiyosaki is? If you were, you would know his statements about buying gold and whatever else are complete bullshit. He's been saying the same thing over and over for years, and the fact is that he's a permabull on certain asset classes (like gold and silver). And these kinds of predictions are being--and have been--made by the likes of him and Mike Maloney and Peter Schiff constantly. Just like the media and government, they want you to be living in economic fear or fear in general. That makes it much easier to manipulate you to do things such as buying metals (in the case of Kiyosaki). Don't fall for this crap, and my advice would be to just ignore him and others of his ilk. I'm a big fan of Kiyosaki because he changed my mindset and the way I'm thinking about working. He is also one of the reasons why I'm not working for others right now and I let my money work for me. Now that this is the case, I think that I will not follow most of what he is saying starting now especially in assets like Gold, Silver and Real Estate.
Expectations and predictions are almost the same. Its just they used different words but in the end, they don't know what will happen in the future accurately. Well, its possible that they are just spreading fear to all of the people to sell all of their holdings. In this case then, many will do the opposite including him. This is how an influential person is that powerful. They can manipulate assets at their own will if they want to.
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pieppiep
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December 14, 2021, 01:29:15 PM |
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He just tells people to be aware of the market crash and we know that will happen sooner or later but unfortunately, he doesn't know when that will happen. It seems he wants to use the market crash time for himself by buying bitcoin and altcoin because I think he is late to join in crypto. People who have already been in crypto for a long time will not be surprised by the crash because they know the crash will be there and only be careful that they can do and act based on the situations and use that moment for their own benefit. But
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ChiBitCTy
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December 14, 2021, 02:01:42 PM |
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Working in finance I am always seeing people making statements like these, and the vast majority (and I mean vast majority) are always wrong. While he may be saying this, there are plenty of other people who are speaking a different tune. I just read a few reports from large banks like JP Morgan Chase and well known economists who believe that we have a lot more room to run.
The important thing to remember even if we have a market crash, don’t panic sell, stick to your plan !!
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avikz (OP)
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December 14, 2021, 02:13:13 PM |
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You can treat Kiyosaki in any way. But it is worth reading and comprehending it! The forecast of a fall in the global economy is more reality than it might seem. Here Covid19 "helped", and the impending collapse of the Chinese economy, and problems for the American economy, and therefore for the whole world. Believe it or not, again, the thought of "buying gold, bitcoins and real estate when the price drops" is a call to very good action. Yes, first of all, do not forget the words - "when the price falls" ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) That's a very important part indeed - when the price falls! Now every individual would have a different limits set for themselves. For example, some may think to buy bitcoin when it falls down to 40k level and for some the market is already at the bottom. So it's interesting to see how Robert Kiyosaki thinks of a bottom at which he would start buying. For a wealthy investor like him, would not be a big challenge. But for commoners like us, it would be a great deal of effort and money. But looking at the way various countries printing money, high inflation might kick off sooner than later!
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