The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the current inflation may lead to a “Greater Depression.” He added that real estate is crashing and foreclosures are up 700% from last year.
Robert Kiyosaki’s Depression Warnings
The author of Rich Dad Poor Dad, Robert Kiyosaki, voiced fresh concerns about the U.S. economy Wednesday. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
He tweeted: “Warning: Inflation may lead to Greater Depression.” The famous author added that real estate is crashing, foreclosures are up 700% from last year, and layoffs are starting.
This was not the first time Kiyosaki has warned about an upcoming Great Depression. “Every 90 years, there is a giant stock market crash followed by depression. 90 years ago was 1929 followed by [the] Great Depression lasting 25 years to 1954,” he tweeted in August 2020, adding:
Will history repeat? I believe so.
Kiyosaki warned about hyperinflation and depression in April, predicting that the U.S. dollar is about to implode. He reiterated in May: “Bad News. Depression coming.” In another tweet, he cautioned that stocks and bonds are crashing, stressing that depression and civil unrest are coming.
Last week, the Rich Dad Poor Dad author said he is in cash position waiting to buy real estate and bitcoin, emphasizing that asset prices are crashing. He has been waiting for BTC to bottom out before buying more. Last month, he revealed that he is waiting for the price of the largest cryptocurrency to test $1,100 to buy more.
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