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

[Betwrong]

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.

I'm glad you are sharing my point of view. Thank you.

It's not uncommon these days to hear that an economic crisis/breakdown/recession is coming, but not many people are saying that we'd been through it before, and we've learned to deal with it effectively. I agree with you that sometimes we just have to say what's going on without sugar coating it. But especially these times we shouldn't forget mentioning that this is not the end of the world.

[Gozie51]

But especially these times we shouldn't forget mentioning that this is not the end of the world.

Even reading the books recorded from the past, we have seen so many revolution that has changed world order like the French Revolution and others yet the people survived and continued with the new system and what was left from the old system. During the recessions of the past, bigger economy like Germany helped many European countries to survive and life is still going on. This means the people will survive despite the hardship from the government policies and corruption.

[Mpamaegbu]

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.

Well, to start with, I didn't even think a lot of people know him as an investor. He's very popular for his books on wealth creation and I think he's better off that way. Write books and stick to them; it necessary doesn't mean because one wrote a book on economy that one will be most proficient at running a business. If it were so, the richest people on earth would be Professors of Economics. I'm of the opinion that the forecast by the Rich Dad Poor Dad author is an "either" thing. It could be or not be. However, if it doesn't come to past you won't get him owing up to it. They only do loud it once their predictions come to past like African pastors do.

To be honest, I don't see a repeat of the 2008 financial meltdown in 2022 especially now that Bitcoin and cryptos are here.

[Silberman]

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.

I'm glad you are sharing my point of view. Thank you.

It's not uncommon these days to hear that an economic crisis/breakdown/recession is coming, but not many people are saying that we'd been through it before, and we've learned to deal with it effectively. I agree with you that sometimes we just have to say what's going on without sugar coating it. But especially these times we shouldn't forget mentioning that this is not the end of the world.

After each crisis the economy recovers and in many instances it comebacks stronger than before, however I think the next crisis is going to be slightly different than the ones we have been experimenting so far as I think it will be a systemic crisis of the fiat system, if that is correct then it means that a new system will have to be implemented and something like that has not happened in more than 50 years, so the crisis that it is to come is probably going to be the worst that we could face during our lifetimes, and that is a scary thought.

[Ozero]

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.

I am already surprised that until now the consequences of unprecedented tough measures to combat the coronavirus pandemic have not appeared. Due to too strong and often unjustified restrictions, small and medium-sized businesses suffered greatly, the states also incurred large expenses, which is why inflation is breaking records. It all depends on how states can cope with the increased burden on the economy. Therefore, a global economic crisis is possible, but it may not come.

[Betwrong]

But especially these times we shouldn't forget mentioning that this is not the end of the world.

Even reading the books recorded from the past, we have seen so many revolution that has changed world order like the French Revolution and others yet the people survived and continued with the new system and what was left from the old system. During the recessions of the past, bigger economy like Germany helped many European countries to survive and life is still going on. This means the people will survive despite the hardship from the government policies and corruption.

I really believe so. There are always people like Robert Kiyosaki around, who try to scare the sh*t out of gullible folks to become their guru, the one and only saviour, so to speak. Go pay for his high-priced seminars, buy his books, or how else can you survive these days! I would suggest to at least read this wiki article on him before buying his books.

[timerland]

I think that there will be a market correction in the stock market for sure.

However, I don't think that there is necessarily going to be an economic crisis other than the inflationary crisis that we have become accustomed to for a long time.

So long as you are well diversified across many asset classes (housing, cash, cryptos, metals), you will be all good.

[Hamphser]

I think that there will be a market correction in the stock market for sure.

However, I don't think that there is necessarily going to be an economic crisis other than the inflationary crisis that we have become accustomed to for a long time.

So long as you are well diversified across many asset classes (housing, cash, cryptos, metals), you will be all good.

Good if you do have those diversification but if not then you wouldnt really be having no choice but to choose on which one you would really be focusing on which means
that choosing which one would be hardest. Crashing markets is inevitable whether you do deal with stocks or crypto market then it could really happen which you should really be preparing
yourself out of these stuffs.You cant just ignore the possible scenarios that would happen or could be experienced along the way.
Dont get yourself dragged with other someones calls.

[RealMalatesta]

In the case where crypto market experiences market crash, then we should only hope for the best since we can't do nothing about this but keep on hodling as we'll wait for the market to be normal again.

Honestly, there's no use in talking negative things in the future as it will only build fear and depression. We will only cross the bridge once we went there. Despite all of this, i'll just focus on how to grow my investments now and take advantage on every good opportunities that come.

Another thing is that most times when you look at a situation like this, you wouldn’t eve know what to do about it. Having Bitcoin is good, but it is also a volatile investment and you wouldn’t know if it will go down anytime soon or not after you have invested in it.

And for that reason you cannot invest all your money in bitcoin, except part of it. Then after you have invested that little part of your money in bitcoin, the next question is what you do with the rest of it? You’re still going to keep them in your savings, and then hope to make  big profit from the little you have invested in bitcoin?

I would say it’s best to develop a business that would be very profitable, because that’s the one thing that can keep you going no matter whatever it is.

[freedomgo]

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.

Well, to start with, I didn't even think a lot of people know him as an investor. He's very popular for his books on wealth creation and I think he's better off that way. Write books and stick to them; it necessary doesn't mean because one wrote a book on economy that one will be most proficient at running a business. If it were so, the richest people on earth would be Professors of Economics. I'm of the opinion that the forecast by the Rich Dad Poor Dad author is an "either" thing. It could be or not be. However, if it doesn't come to past you won't get him owing up to it. They only do loud it once their predictions come to past like African pastors do.

To be honest, I don't see a repeat of the 2008 financial meltdown in 2022 especially now that Bitcoin and cryptos are here.

I do believe too that what we have this 2022 will be another story and history will never be repeated again. Crypto is very much different these days because it has improved a lot and massive adoption is slowly taking place. While in 2008, crypto is not that popular and even big institutions are not yet aware that bitcoin and the rest of cryptos are real and existing. But of course, having a market crash is inevitable but it won't be totally the same like what we had in 2008.

[wxa7115]

I think that there will be a market correction in the stock market for sure.

However, I don't think that there is necessarily going to be an economic crisis other than the inflationary crisis that we have become accustomed to for a long time.

So long as you are well diversified across many asset classes (housing, cash, cryptos, metals), you will be all good.

One of the thing with economic crises is that you will not know how big they will be until they end, some people argue that the economic crisis that is coming is not going to be that big, but there is no way to know for sure.

The economies of the world are very weak, inflation is high, the growth is low, the pandemic is still ongoing, the public and the private sector are heavily indebted, so when you think about it we have all the ingredients for a massive crisis, I would prefer it did not happened but at this point it seems inevitable to me.

[boyptc]

I think that there will be a market correction in the stock market for sure.

However, I don't think that there is necessarily going to be an economic crisis other than the inflationary crisis that we have become accustomed to for a long time.

So long as you are well diversified across many asset classes (housing, cash, cryptos, metals), you will be all good.

Yes, someone who has a diversified portfolio and investments can survive if there's a crash or correction that will happen. As it turned that when people sees the stock market going through a correction, they'll expect that the same would come to the crypto market.

But as said by the others, he's been talking the same correction again and again and with those cycles, it's really inevitable and it shall come no matter what.

[LUCKMCFLY]

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! 


 

I have read books by Robert Kiyosaki and he is a great master investor, the truth is I admire him a lot, and if this man says that the economy is about to believe, I do believe it, also with all the announcements that Powell has given is of expect a blow like that, right now the entire world economy is under threat, I don't know if the pandemic is a warm cloth for them, and if it can somehow help reduce the possible world crash, in fact since 2018 Announcements of a possible fall are being given, and I think that the economic bubble cannot be sustained very well, it is best to heed their advice, buy gold, BTC, that is not a bad thing.

[TheUltraElite]

Go pay for his high-priced seminars, buy his books, or how else can you survive these days! I would suggest to at least read this wiki article on him before buying his books.

The main tactic is to scare the people and then sell them something that you made up calling that to be the saviour. That is how a person who writes books about getting rich actually gets rich, by selling the book not by reading what they just wrote.

Point is that many people actually take their advice and these people eventually gain a large following. This following if used properly, can be used to generate a lot of market demand for something useful but they use it for their own personal gains.

Unless someone understands this, you will not be able to stop them from following "self-proclaimed gurus". But you can try to point out fallacies and illogical facts in their statements for a start.

[Fortify]

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!  

You don't need to be a genius to tell a crash is coming. A recession happens on average every 8 years, with short term dips every 3 years. It is the natural boom and bust of a capitalistic society, it has been going on for many decades now. Covid has thrown a lot of things out of whack so may be a disruption to the big boom that was happening, a lot of people have lost jobs but a lot of people were stuck in a position where they could save money which brought debt down. Boom cycles usually end when debt gets too high and turns to bust, but it just depends if more people were able to pay off debts than get into debt with the current pandemic going on. That might alleviate the current primer for a recession. The next recession is likely to be triggered by high inflation unless it gets under control, all those people on mortgages at 1-2% are going to lose their home when they cannot afford to remortgage at 6%+ in 5 years time - overpay as much of your mortgage as possible at these low rates people.

[Silberman]

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!  

You don't need to be a genius to tell a crash is coming. A recession happens on average every 8 years, with short term dips every 3 years. It is the natural boom and bust of a capitalistic society, it has been going on for many decades now. Covid has thrown a lot of things out of whack so may be a disruption to the big boom that was happening, a lot of people have lost jobs but a lot of people were stuck in a position where they could save money which brought debt down. Boom cycles usually end when debt gets too high and turns to bust, but it just depends if more people were able to pay off debts than get into debt with the current pandemic going on. That might alleviate the current primer for a recession. The next recession is likely to be triggered by high inflation unless it gets under control, all those people on mortgages at 1-2% are going to lose their home when they cannot afford to remortgage at 6%+ in 5 years time - overpay as much of your mortgage as possible at these low rates people.

Exactly, which is why if someone has not done anything to prepare for the upcoming crisis the time to do it is now, I know there are a lot of obstacles as inflation is very high almost everywhere around the world but it must be done, an economic crisis does not wait for us and as such we need to be ready, and as you say one of the best ways to avoid the worst effects of the crisis is simply to not have any debts in place, that way even if the interest rates go up you have no debt which can be affected by this.

[TimeTeller]

Go pay for his high-priced seminars, buy his books, or how else can you survive these days! I would suggest to at least read this wiki article on him before buying his books.

The main tactic is to scare the people and then sell them something that you made up calling that to be the saviour. That is how a person who writes books about getting rich actually gets rich, by selling the book not by reading what they just wrote.

Point is that many people actually take their advice and these people eventually gain a large following. This following if used properly, can be used to generate a lot of market demand for something useful but they use it for their own personal gains.

Unless someone understands this, you will not be able to stop them from following "self-proclaimed gurus". But you can try to point out fallacies and illogical facts in their statements for a start.

And most of these "self-proclaimed gurus or experts" don't really know what they are saying as they are not the right person to talk about this topic.
Even if we say, he is a supporter of bitcoin. Did he provide tangible facts that may possibly influence this prediction in the market?
What are his basis of saying this possible market crash? Is he just saying this out of thin air because he knows some people will believe him because of his status?
Anyone is free to give their predictions in this market, but as a small holder or trader or even a big one, you should know what to look at and what to watch out for.

[Vaculin]

Go pay for his high-priced seminars, buy his books, or how else can you survive these days! I would suggest to at least read this wiki article on him before buying his books.

The main tactic is to scare the people and then sell them something that you made up calling that to be the saviour. That is how a person who writes books about getting rich actually gets rich, by selling the book not by reading what they just wrote.

Point is that many people actually take their advice and these people eventually gain a large following. This following if used properly, can be used to generate a lot of market demand for something useful but they use it for their own personal gains.

Unless someone understands this, you will not be able to stop them from following "self-proclaimed gurus". But you can try to point out fallacies and illogical facts in their statements for a start.

And most of these "self-proclaimed gurus or experts" don't really know what they are saying as they are not the right person to talk about this topic.
Even if we say, he is a supporter of bitcoin. Did he provide tangible facts that may possibly influence this prediction in the market?
What are his basis of saying this possible market crash? Is he just saying this out of thin air because he knows some people will believe him because of his status?
Anyone is free to give their predictions in this market, but as a small holder or trader or even a big one, you should know what to look at and what to watch out for.

If you want to be more reliable, then you should support facts and other solid basis so that people will believe on you not because since you are a writer but because you are knowledgeable too in all the things that you say. I guess having a market crash is still possible in the future but thinking that it will be like 2008, i don't think it will happen again. Crypto is now gaining people's trust and they start seeing it not just a good store of value but definitely as a legal currency. And what we have at the moment is already very different way back 2008, and many improvements are already taking place.

[STT]

FED policy effectively dictates a slow crash scenario or slow decline in the value of money as opposed to the more usual sharp reset of a crash or market sell off in a day or weeks to months.  The value decline in currency is quite deliberate policy over years to decades, we've been doing QE since 2008 but Dollar peaked in the eighties and declined since then I think its quite sure we cannot recover that process.   His idea we can lose any control by the FED isnt that misplaced but the overall trend in this overall economy is dictated by continual QE programs now; global politics backs this despite various losses to some.

[Betwrong]

Go pay for his high-priced seminars, buy his books, or how else can you survive these days! I would suggest to at least read this wiki article on him before buying his books.

The main tactic is to scare the people and then sell them something that you made up calling that to be the saviour. That is how a person who writes books about getting rich actually gets rich, by selling the book not by reading what they just wrote.

Point is that many people actually take their advice and these people eventually gain a large following. This following if used properly, can be used to generate a lot of market demand for something useful but they use it for their own personal gains.

Exactly. This should be the main rule for anyone with millions followers: use your platform to make the world a better place, not just to make yourself richer.

Unless someone understands this, you will not be able to stop them from following "self-proclaimed gurus". But you can try to point out fallacies and illogical facts in their statements for a start.

That's what we are trying to do here, right? Actually, I'm very happy about the fact that almost no one from this thread is going to follow Mr. Robert Kiyosaki.