'Rich Dad Poor Dad' author Robert Kiyosaki warns raging US inflation could spark a historic depression - and sounds the alarm on layoffs, home sales, and foreclosures
Robert Kiyosakiwarned raging inflation could drag the US economy into a depression.
- He pointed to more layoffs and foreclosures, and a slowdown in home sales, as red flags.
Soaring prices, slumping home sales, and droves of workers losing their jobs could herald an economic crisis and mass unemployment in the US, Robert Kiyosaki cautioned this week.
"WARNING: Inflation may lead to Greater Depression," he tweeted. "Real estate crashing. Foreclosures up 700% from last year. Layoffs starting. Dominos falling."
Kiyosaki also urged people to gauge whether their jobs would be at risk in a downturn.
"Is your work … or company you work for vital to economy? Are you necessary?" he tweeted. "If you are … you will do well. Take care."
The personal-finance guru repeatedly warned during the pandemic that
"We are in BIGGEST BUBBLE in world history," he tweeted in March. "Bubbles in
However, the founder of Rich Global and the Rich Dad Company has also framed a market crash as an opportunity to scoop up bargains.
"Do not miss the GREATEST SALE on EARTH," he tweeted earlier this month, adding that he had cash ready to snap up cheap bitcoin and real estate.
Kiyosaki has also offered some unusual advice to Americans facing higher food, fuel, and housing costs. He touted cans of tuna and baked beans as the best investments available, as he sees starvation as a genuine risk, and "you can't eat gold, silver, or bitcoin."
Read more: BlackRock equities chief investment officer says now's the time to shift money from US stocks and cash into beaten-down European companies. He lays out the 3 key reasons why and reveals what investors should buy.
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