Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Hang the Bankers
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Robert ‘Rich Dad’ Kiyosaki: my prediction of market collapse is coming true

% of readers think this story is Fact. Add your two cents.


http://www.hangthebankers.com/

Robert Kiyosaki, author of the best-selling “Rich Dad, Poor Dad” series of personal finance books, says his prediction for a market meltdown is now coming true.

He told MarketWatch that the meltdown described in his 2002 book “Rich Dad’s Prophecy” is now underway, and investors need to be prepared by buying gold and silver. The triggers for the collapse include a wave of selling by 76 million retiring baby boomers who need funds to cover living expenses and China’s economic implosion.

“Demography is destiny,” he said to MarketWatch.

Kiyosaki’s net worth was estimated at $80 million by Forbes magazine in 2012, mostly from real estate investments and his more than two dozen books. His licensing company, Rich Global LLC, filed for bankruptcy and is being sued by a seminar promoter in connection with that filing, according to MarketWatch.

The S&P 500 stock index reached a record high in 2015, but sold off by more than 10 percent in February as collapsing oil prices hurt the energy industry and investors began to worry that China’s growth rate was slowing. Stocks have recovered somewhat, having fallen less than 1 percent since the beginning of the year.

Unfortunately for baby boomers, their savings are being punished by a Federal Reserve that has kept interest rates near zero percent for more than seven years, allowing the U.S. government to more than double its debt load to about $19 trillion. The central bank also bought trillions of dollars of government and mortgage-backed debt, in three experimental programs known as “quantitative easing,” in an effort to lower borrowing costs.

“The big question [whether] we do ‘QE4,’” Kiyosaki told MarketWatch. “If we do, the stock market will come roaring back, but it’s not rocket science. If we stop printing money, it crashes; if we print money, it goes up. But, eventually, it’s all going to come down.”

Other risks include a collapsing of an asset bubble in China, he said. China’s debt levels have exploded as the country sought to industrialize and modernize its economy.
“China has been in a bubble for 20-something years,” Kiyosaki said to MarketWatch. “It has propped up the U.S. economy falsely. When [China] stops importing, the world crashes with them.”

He said baby boomers face a quandary because they can’t make money with traditional fixed-income investments.

“Interest income or cash flow on savings is virtually nonexistent, and capital-gains plays in the stock market are thwarted because stock prices are at record highs,” Kiyosaki said to MarketWatch.

He recommends owning gold or silver because central banks will keep on printing money in a desperate attempt to ignite growth. Income-generating investments from rent or dividends also could help.

“If you know what you’re doing and are investing for cash flow, baby boomers — or any investors — may see some gains,” he said to MarketWatch. “But for those whose wealth is tied up in the [equity] markets, it’s more like gambling than investing.”

SOURCE

http://www.hangthebankers.com/


Source: http://www.hangthebankers.com/robert-kiyosaki-rich-dad-prediction-market-collapse/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.