Rich Dad Poor Dad’s Robert Kiyosaki Warns Inflation May Lead to Greater Depression – Economics Bitcoin News

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 The real estate market is in crisis and foreclosures are on the rise by 700% over last year.

Robert Kiyosaki’s Depression Warnings

Robert Kiyosaki (author of Rich Dad Poor Dad) expressed new concerns regarding the U.S. economic situation Wednesday. Rich Dad Poor Dad, a book written in 1997 with Sharon Lechter is co-authored. The New York Times Best Seller List has had it for six years. The book has been translated into more than 51 languages in over 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.

Kiyosaki had warned before about a Great Depression. “Every 90 years, there is a giant stock market crash followed by depression. 1929 was the year that ended in disaster. [the] Great Depression lasting 25 years to 1954,” he tweeted in August 2020, adding:

Can history be repeated? Yes, I think so.

In April Kiyosaki predicted that there would be depression and hyperinflation, and that the U.S. Dollar was about to collapse. 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.

Rich Dad Poor Dad, author of Rich Dad, Poor Dad, stated last week that he has cash in reserve and is waiting for bitcoin to be available for purchase. This was in response to the crash in asset values. He has been patiently waiting for BTC prices to stabilize before purchasing more. Last month, he said that he is still waiting for Bitcoin to drop to $1,100 in order to purchase more.

What do you think about Robert Kiyosaki’s warnings? Comment below to let us know your thoughts.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.