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

ven7net

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Quote from: avikz on December 13, 2021, 02:01:35 PM

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!

As for Mr. Robert Kiyosaki about the supposedly impending crisis and the market decline, then I agree with him. Moreover, I believe that the crisis has already begun and in the very near future, and it is in 2022 that there is a high probability of the markets falling. This is primarily due to the economic, financial and political situation in the world, to be more precise, it is in these three areas that the crisis is already underway and the solution to this crisis will be a complete reset of international relations. There are economists who argue that the dollar financial system will disintegrate into currency zones, which will shake up all financial systems and possibly create new ones. If this is the case, there will be new rules, which means that the old systems will either have to disappear or work according to new rules, which by itself means the collapse of these systems. By the word system, I mean both the stock market and the crypto market. So it is very likely that Mr. Robert Kiyosaki is right and we are on the verge of a global fall.

Betwrong

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Quote from: Hamphser on January 03, 2022, 05:28:46 PM

Quote from: Betwrong on January 03, 2022, 07:29:01 AM

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I dont really recognize nor even believe with those experts even into those billionaires which do really love traditional investments and do keep on having those negative inputs or insights towards bitcoin.

There are fewer and fewer of them over time. I don't know who except Warren Buffett is talking negatively about Bitcoin today? Those who used to be enemies of BTC are investing in it today. Even younger folks from the Buffet gang I'm sure holding some Bitcoin just in case.

Quote from: Hamphser on January 03, 2022, 05:28:46 PM

Some might have made out some u turn but most of them does have the same mindset.About those people who do make out those positive sentiments then let them bet. We do have our own views and sentiments about this market whether you are a billionaire or millionaire then no one could able to predict the precise call on where those prices would be flying on.

Yeah, only never bet more than you can afford to lose, or you can find yourself on the place of some Robert Kiyosaki's followers. Whatever investment strategy you choose, you should never risk money that you may need in the nearest future.

Botnake

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Quote from: Oilacris on January 05, 2022, 06:20:43 PM

Quote from: Skinny48 on January 05, 2022, 11:33:20 AM

I believe this man more than many billionaires out there, this man have never said anything against crypto technology he is in full support of anything futuristic, a smart fellow if you ask me, I think the reason why I predicted this market crash is because of the never ending Covid that has now generated into Omicron virus, let's just hope that this doesn't get out of hand

Dont tend to destroy your hopes and beliefs on certain individuals but i dont really believe that they could precisely predict just because on basing with sentiments that floating around.Come to think that

we've been on a pandemic situation for couple of years but look at on what happen into the market? Instead on having a crash we did able to reach out all time highs.

I dont really believe about those precise predictions because we could only have two possible paths which is going down or going up.

Exactly. Do not put all your trust in just a single person and easily carried on him. Bitcoin will always be volatile and has a very unpredictable market so none of us can make precise prediction even how smart or expert he is. I believe there's always a possibility of a market crash in the future, but it may not happen too. Seeing bitcoin in an upward trend, i know as much as possible it will never tend to move or crash the market. But since its highly volatile, it could sometimes fall its value particularly if a correction happens or a bearish season affects the market, but it will also recover for sure once the market gets back to normal.

Blue0x.com

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Its natural for everything to go up when more money is printed. Its not that the price goes up. Its that it takes more fiat to buy the same asset because the fiat is worth less per unit. However, people with alot of liquid fiat are in a rush to buy these assets as they see the inflation coming. This fever causes a bubble that can spiral out of control just like in the years prior to what happened in 2008. Cheap money coming from the Fed (40% of all money creation in 2020-2021) in the form of stimulus and QE is the leading factor in this.

The difference between this time and 2008 is that the fiat systems and the institutions built around them are beyond repair. Investors arent necessarily worried about future returns on their investments. They are just scrambling to put their fiat into anything before their fiat is worthless. They arent really investing. They are just trying to salvage what they already have.

Oilacris

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Quote from: Skinny48 on January 05, 2022, 11:33:20 AM

I believe this man more than many billionaires out there, this man have never said anything against crypto technology he is in full support of anything futuristic, a smart fellow if you ask me, I think the reason why I predicted this market crash is because of the never ending Covid that has now generated into Omicron virus, let's just hope that this doesn't get out of hand

Dont tend to destroy your hopes and beliefs on certain individuals but i dont really believe that they could precisely predict just because on basing with sentiments that floating around.Come to think that

we've been on a pandemic situation for couple of years but look at on what happen into the market? Instead on having a crash we did able to reach out all time highs.

I dont really believe about those precise predictions because we could only have two possible paths which is going down or going up.

dezoel

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Honestly Robert is not really contemporary anymore. I always looked at what he said and decided that maybe he was right but then I read rich dad poor dad which is his most famous book and he is nothing more than some glorified "self-guru" type of person but only in the finance world.

Considering how you should not have liability but have assets that give you cash-flow is his only idea to get rich, we as people in crypto world are already way beyond him. So, his talking about anything is beyond caring about right now, he is boring old man who doesn't know how the world works. Dude even made equal of 250k in today's money when he first started working, and he is talking about how we should make debt to grow. Dude we are making debt just to live without dying of starvation so let's pump the brakes a bit. Ignore him, and move on with your life, crash could happen or not, but definitely not because he predicted it, but because it is obvious.

Skinny48

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I believe this man more than many billionaires out there, this man have never said anything against crypto technology he is in full support of anything futuristic, a smart fellow if you ask me, I think the reason why I predicted this market crash is because of the never ending Covid that has now generated into Omicron virus, let's just hope that this doesn't get out of hand

bakasabo

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Quote from: arwin100 on January 04, 2022, 05:48:01 AM

Quote from: bakasabo on January 04, 2022, 04:36:07 AM

I like how he says "Crash and Depression coming," without not only saying the exact that, but not even saying approximate date. Specially saying it during red market. This is same as saying it will be warmer after cold winter days. If a weather forecaster would come with such info, he will be fired immediately. Robert Kiyosaki is just playing on emotion and advertises his name. His prediction might come true this year, or next week, or in 100 years. I would not pay much attention to his expectation. I would not start stock up on food, or convert all fiat money into gold, real estate, crypto, just because fiat will depreciate.

Prediction with no proper timeline wether on when this gonna happen is just a pure wild guess so I think its better not to take this seriously since we don't really know if he's telling accurate word. But eventhough that is we still need to be careful on our decision making and better be ready if the said things occur so that we will not get hurt on possible crisis that may happen in future.

I am not so much familiar with his books, for me they are just a story of successful success or a motivational literature. Maybe I am wrong, but for me he is first a writer (wrote more than 25 books) and a businessman, and only then he is a analytics and prediction maker. I believe that he can say everything, as long as it is profitable for him. He is making this predictions to make his books sell better, and to grow the value of his assets. All his predictions are not financial advices. I cant remember any case that his predictions hit the truth.

tippytoes

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Quote from: arwin100 on January 04, 2022, 05:48:01 AM

Quote from: bakasabo on January 04, 2022, 04:36:07 AM

I like how he says "Crash and Depression coming," without not only saying the exact that, but not even saying approximate date. Specially saying it during red market. This is same as saying it will be warmer after cold winter days. If a weather forecaster would come with such info, he will be fired immediately. Robert Kiyosaki is just playing on emotion and advertises his name. His prediction might come true this year, or next week, or in 100 years. I would not pay much attention to his expectation. I would not start stock up on food, or convert all fiat money into gold, real estate, crypto, just because fiat will depreciate.

Prediction with no proper timeline wether on when this gonna happen is just a pure wild guess so I think its better not to take this seriously since we don't really know if he's telling accurate word. But eventhough that is we still need to be careful on our decision making and better be ready if the said things occur so that we will not get hurt on possible crisis that may happen in future.

Basically, everyone can do the same prediction. The difference is that he has some followers. Without timeline and preciseness, I do agree that it is more of a wild guess and with no basis as well. So if you are a user and wants more tangible results, better trust your own instincts and if you are into alts, you should know their background at least. It is not advisable to buy alts if you have no idea what you're buying.

TheGreatPython

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Quote from: bakasabo on January 04, 2022, 04:36:07 AM

I like how he says "Crash and Depression coming," without not only saying the exact that, but not even saying approximate date. Specially saying it during red market. This is same as saying it will be warmer after cold winter days. If a weather forecaster would come with such info, he will be fired immediately. Robert Kiyosaki is just playing on emotion and advertises his name. His prediction might come true this year, or next week, or in 100 years. I would not pay much attention to his expectation. I would not start stock up on food, or convert all fiat money into gold, real estate, crypto, just because fiat will depreciate.

He was always that kind of guy, he always said that you should collect assets and make debt doing it, and that the market would always crash, and even inflation alone would mean that you would be losing a ton of money. At the end of the day, we are talking about something that is big, and I mean seriously big and that usually means that we were talking about 50%+ crash in stock markets and all, a 2008 type of deal, a 2020 type of deal but longer. I mean these type of short span stuff due to pandemic happened and ruined many business' around but then it recovered and people are doing fine right now.

Moreover, would say that things are not looking amazing for Robert because he used to be seen as a guy who is smart and "figured it out" but the reality is that everyone figured it out by now, so he is not telling something original anymore.

arwin100

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Quote from: bakasabo on January 04, 2022, 04:36:07 AM

I like how he says "Crash and Depression coming," without not only saying the exact that, but not even saying approximate date. Specially saying it during red market. This is same as saying it will be warmer after cold winter days. If a weather forecaster would come with such info, he will be fired immediately. Robert Kiyosaki is just playing on emotion and advertises his name. His prediction might come true this year, or next week, or in 100 years. I would not pay much attention to his expectation. I would not start stock up on food, or convert all fiat money into gold, real estate, crypto, just because fiat will depreciate.

Prediction with no proper timeline wether on when this gonna happen is just a pure wild guess so I think its better not to take this seriously since we don't really know if he's telling accurate word. But eventhough that is we still need to be careful on our decision making and better be ready if the said things occur so that we will not get hurt on possible crisis that may happen in future.

bakasabo

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I like how he says "Crash and Depression coming," without not only saying the exact that, but not even saying approximate date. Specially saying it during red market. This is same as saying it will be warmer after cold winter days. If a weather forecaster would come with such info, he will be fired immediately. Robert Kiyosaki is just playing on emotion and advertises his name. His prediction might come true this year, or next week, or in 100 years. I would not pay much attention to his expectation. I would not start stock up on food, or convert all fiat money into gold, real estate, crypto, just because fiat will depreciate.

pinggoki

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Quote from: STT on January 03, 2022, 04:04:25 PM

He wrote a book and his basic message is hold and use your own property largely because its one of the most tax favorable assets you can have. Not sure I have the patience to listen to him more then that, it is a biased system and its not fair or actually a properly capitalist based economy but that can be stated alot more succinctly then he manages.
Theres a few like him that can be listened to in variable amounts, I wouldnt exactly recommend them as they all have faults in their approach but its good to recognize long term success each 'expert' might have had.

You don't necessarily have to listen to them though, take in the words that they say and decide for yourself what you think makes sense, listening to this people say stuff don't mean that you have to be a yes man.

paxmao

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Quote from: STT on January 03, 2022, 04:04:25 PM

He wrote a book and his basic message is hold and use your own property largely because its one of the most tax favorable assets you can have. Not sure I have the patience to listen to him more then that, it is a biased system and its not fair or actually a properly capitalist based economy but that can be stated alot more succinctly then he manages.
Theres a few like him that can be listened to in variable amounts, I wouldnt exactly recommend them as they all have faults in their approach but its good to recognize long term success each 'expert' might have had.

Kiyosaki has always been a booster and hyper of real state property. He has not discovered the wheel to be honest, he simply wrote a couple of books - with a very characteristic and appealing style to the masses - which basically say that you should no be spending more than you earn and should not use credit for stuff that is not really productive. His thesis on real state is simply a consequence of his own views about what it "good debt", but the 2008 crisis proved him wrong in many ways.

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Quote from: Betwrong on January 03, 2022, 07:29:01 AM

Quote from: bitgolden on January 01, 2022, 03:09:12 PM

Quote from: Oasisman on January 01, 2022, 06:28:17 AM

I'm actually waiting for the big crash to happen, and It seems like it is nearing to happen as Bitcoin price is gradually going down.
This advice from Robert Kiyosaki is actually an opportunity to earn more profit in the future, because Bitcoin is always gonna bounce back stronger after a bearish season.
Market crash isn't something to be worried of, and It's already expected after a long bullish run, the market needs to consolidate to continue moving forward.

You are sounding like market crash on crypto space but I guess OP is all about worldwide economic slowdown and then tis consequence of market crash on every country's economy and not just limited to crytpo space. I mean if another economic recession comes like 2008, I guess crypto will boom whereas stocks will fall. So, you may NOT get chances to accumulate bitcoin at cheaper prices, lol.

Moreover, that is is my basic idea about cryptocurrency against world economy but anything could happen because when pandemic hit for the first time, cryptocurrency also reacted to it but bounced back quicker than stock markets.

It could be that the chance to accumulate bitcoin at cheaper price is now. Bitcoin was above the current price most of the time in 2021. Those who want to buy cheap BTC can try to wait until another $30k, but it's risky because it may never happen. Each time BTC was briefly around $30k in 2021, it was bouncing up quickly from there.

Regarding Kiyosaki, it's actually good to read experts' opinions, but imo he's not even in the top 100 you should read.

I dont really recognize nor even believe with those experts even into those billionaires which do really love traditional investments and do keep on having those negative inputs or insights towards bitcoin.

Some might have made out some u turn but most of them does have the same mindset.About those people who do make out those positive sentiments then let them bet.
We do have our own views and sentiments about this market whether you are a billionaire or millionaire then no one could able to predict the precise call on where those
prices would be flying on.

STT

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He wrote a book and his basic message is hold and use your own property largely because its one of the most tax favorable assets you can have. Not sure I have the patience to listen to him more then that, it is a biased system and its not fair or actually a properly capitalist based economy but that can be stated alot more succinctly then he manages.
Theres a few like him that can be listened to in variable amounts, I wouldnt exactly recommend them as they all have faults in their approach but its good to recognize long term success each 'expert' might have had.

Betwrong

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I stand with Ukraine.

Quote from: bitgolden on January 01, 2022, 03:09:12 PM

Quote from: Oasisman on January 01, 2022, 06:28:17 AM

I'm actually waiting for the big crash to happen, and It seems like it is nearing to happen as Bitcoin price is gradually going down.
This advice from Robert Kiyosaki is actually an opportunity to earn more profit in the future, because Bitcoin is always gonna bounce back stronger after a bearish season.
Market crash isn't something to be worried of, and It's already expected after a long bullish run, the market needs to consolidate to continue moving forward.

You are sounding like market crash on crypto space but I guess OP is all about worldwide economic slowdown and then tis consequence of market crash on every country's economy and not just limited to crytpo space. I mean if another economic recession comes like 2008, I guess crypto will boom whereas stocks will fall. So, you may NOT get chances to accumulate bitcoin at cheaper prices, lol.

Moreover, that is is my basic idea about cryptocurrency against world economy but anything could happen because when pandemic hit for the first time, cryptocurrency also reacted to it but bounced back quicker than stock markets.

It could be that the chance to accumulate bitcoin at cheaper price is now. Bitcoin was above the current price most of the time in 2021. Those who want to buy cheap BTC can try to wait until another $30k, but it's risky because it may never happen. Each time BTC was briefly around $30k in 2021, it was bouncing up quickly from there.

Regarding Kiyosaki, it's actually good to read experts' opinions, but imo he's not even in the top 100 you should read.

bitgolden

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Quote from: Oasisman on January 01, 2022, 06:28:17 AM

I'm actually waiting for the big crash to happen, and It seems like it is nearing to happen as Bitcoin price is gradually going down.
This advice from Robert Kiyosaki is actually an opportunity to earn more profit in the future, because Bitcoin is always gonna bounce back stronger after a bearish season.
Market crash isn't something to be worried of, and It's already expected after a long bullish run, the market needs to consolidate to continue moving forward.

You are sounding like market crash on crypto space but I guess OP is all about worldwide economic slowdown and then tis consequence of market crash on every country's economy and not just limited to crytpo space. I mean if another economic recession comes like 2008, I guess crypto will boom whereas stocks will fall. So, you may NOT get chances to accumulate bitcoin at cheaper prices, lol.

Moreover, that is is my basic idea about cryptocurrency against world economy but anything could happen because when pandemic hit for the first time, cryptocurrency also reacted to it but bounced back quicker than stock markets.

Oasisman

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Quote from: avikz on December 13, 2021, 02:01:35 PM

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'm actually waiting for the big crash to happen, and It seems like it is nearing to happen as Bitcoin price is gradually going down.
This advice from Robert Kiyosaki is actually an opportunity to earn more profit in the future, because Bitcoin is always gonna bounce back stronger after a bearish season.
Market crash isn't something to be worried of, and It's already expected after a long bullish run, the market needs to consolidate to continue moving forward.

Gyfts

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Don't know Robert Kiyosaki, so whatever views are on the markets crashing is irrelevant. You can't predict when the next crash will happen with any degree of certainty. You can use economic indicators to make inferences, but they're only as good as the data you have in front of you. The possibility of an economic crash happening again is certain, predicting when it happens is guesswork. My prediction is the next economic crash could be over the student loan "bubble" that's forming. Essentially the price of higher learning is increasing and outpacing the cost of any other services, and so eventually there will be a tipping point at which the loans will no longer be paid back because the potential earnings of a student outpace the loan amount plus interest, and thus the bubble pops. This is mainly a US consideration, but China's economy also isn't doing great. And so if China first, the US will follow soon after.

Topic: Robert Kiyosaki expects a market crash and economic crisis - do you believe it? (Read 719 times)