Topic: Robert Kiyosaki expects a market crash and economic crisis - do you believe it? - page 3. (Read 699 times)

You don't need to be a genius to tell a crash is coming. A recession happens on average every 8 years, with short term dips every 3 years. It is the natural boom and bust of a capitalistic society, it has been going on for many decades now. Covid has thrown a lot of things out of whack so may be a disruption to the big boom that was happening, a lot of people have lost jobs but a lot of people were stuck in a position where they could save money which brought debt down. Boom cycles usually end when debt gets too high and turns to bust, but it just depends if more people were able to pay off debts than get into debt with the current pandemic going on. That might alleviate the current primer for a recession. The next recession is likely to be triggered by high inflation unless it gets under control, all those people on mortgages at 1-2% are going to lose their home when they cannot afford to remortgage at 6%+ in 5 years time - overpay as much of your mortgage as possible at these low rates people.

The main tactic is to scare the people and then sell them something that you made up calling that to be the saviour. That is how a person who writes books about getting rich actually gets rich, by selling the book not by reading what they just wrote.

Point is that many people actually take their advice and these people eventually gain a large following. This following if used properly, can be used to generate a lot of market demand for something useful but they use it for their own personal gains.

Unless someone understands this, you will not be able to stop them from following "self-proclaimed gurus". But you can try to point out fallacies and illogical facts in their statements for a start.

I have read books by Robert Kiyosaki and he is a great master investor, the truth is I admire him a lot, and if this man says that the economy is about to believe, I do believe it, also with all the announcements that Powell has given is of expect a blow like that, right now the entire world economy is under threat, I don't know if the pandemic is a warm cloth for them, and if it can somehow help reduce the possible world crash, in fact since 2018 Announcements of a possible fall are being given, and I think that the economic bubble cannot be sustained very well, it is best to heed their advice, buy gold, BTC, that is not a bad thing.

Yes, someone who has a diversified portfolio and investments can survive if there's a crash or correction that will happen. As it turned that when people sees the stock market going through a correction, they'll expect that the same would come to the crypto market.

But as said by the others, he's been talking the same correction again and again and with those cycles, it's really inevitable and it shall come no matter what.

One of the thing with economic crises is that you will not know how big they will be until they end, some people argue that the economic crisis that is coming is not going to be that big, but there is no way to know for sure.

The economies of the world are very weak, inflation is high, the growth is low, the pandemic is still ongoing, the public and the private sector are heavily indebted, so when you think about it we have all the ingredients for a massive crisis, I would prefer it did not happened but at this point it seems inevitable to me.

I do believe too that what we have this 2022 will be another story and history will never be repeated again. Crypto is very much different these days because it has improved a lot and massive adoption is slowly taking place. While in 2008, crypto is not that popular and even big institutions are not yet aware that bitcoin and the rest of cryptos are real and existing. But of course, having a market crash is inevitable but it won't be totally the same like what we had in 2008.

Another thing is that most times when you look at a situation like this, you wouldn’t eve know what to do about it. Having Bitcoin is good, but it is also a volatile investment and you wouldn’t know if it will go down anytime soon or not after you have invested in it.

And for that reason you cannot invest all your money in bitcoin, except part of it. Then after you have invested that little part of your money in bitcoin, the next question is what you do with the rest of it? You’re still going to keep them in your savings, and then hope to make  big profit from the little you have invested in bitcoin?

I would say it’s best to develop a business that would be very profitable, because that’s the one thing that can keep you going no matter whatever it is.

Good if you do have those diversification but if not then you wouldnt really be having no choice but to choose on which one you would really be focusing on which means
that choosing which one would be hardest. Crashing markets is inevitable whether you do deal with stocks or crypto market then it could really happen which you should really be preparing
yourself out of these stuffs.You cant just ignore the possible scenarios that would happen or could be experienced along the way.
Dont get yourself dragged with other someones calls.

I think that there will be a market correction in the stock market for sure.

However, I don't think that there is necessarily going to be an economic crisis other than the inflationary crisis that we have become accustomed to for a long time.

So long as you are well diversified across many asset classes (housing, cash, cryptos, metals), you will be all good.

I really believe so. There are always people like Robert Kiyosaki around, who try to scare the sh*t out of gullible folks to become their guru, the one and only saviour, so to speak. Go pay for his high-priced seminars, buy his books, or how else can you survive these days! I would suggest to at least read this wiki article on him before buying his books.

I am already surprised that until now the consequences of unprecedented tough measures to combat the coronavirus pandemic have not appeared. Due to too strong and often unjustified restrictions, small and medium-sized businesses suffered greatly, the states also incurred large expenses, which is why inflation is breaking records. It all depends on how states can cope with the increased burden on the economy. Therefore, a global economic crisis is possible, but it may not come.

After each crisis the economy recovers and in many instances it comebacks stronger than before, however I think the next crisis is going to be slightly different than the ones we have been experimenting so far as I think it will be a systemic crisis of the fiat system, if that is correct then it means that a new system will have to be implemented and something like that has not happened in more than 50 years, so the crisis that it is to come is probably going to be the worst that we could face during our lifetimes, and that is a scary thought.

Well, to start with, I didn't even think a lot of people know him as an investor. He's very popular for his books on wealth creation and I think he's better off that way. Write books and stick to them; it necessary doesn't mean because one wrote a book on economy that one will be most proficient at running a business. If it were so, the richest people on earth would be Professors of Economics. I'm of the opinion that the forecast by the Rich Dad Poor Dad author is an "either" thing. It could be or not be. However, if it doesn't come to past you won't get him owing up to it. They only do loud it once their predictions come to past like African pastors do.

To be honest, I don't see a repeat of the 2008 financial meltdown in 2022 especially now that Bitcoin and cryptos are here.

Even reading the books recorded from the past, we have seen so many revolution that has changed world order like the French Revolution and others yet the people survived and continued with the new system and what was left from the old system. During the recessions of the past, bigger economy like Germany helped many European countries to survive and life is still going on. This means the people will survive despite the hardship from the government policies and corruption.

I'm glad you are sharing my point of view. Thank you.

It's not uncommon these days to hear that an economic crisis/breakdown/recession is coming, but not many people are saying that we'd been through it before, and we've learned to deal with it effectively. I agree with you that sometimes we just have to say what's going on without sugar coating it. But especially these times we shouldn't forget mentioning that this is not the end of the world.

Sounds like he is holding US dollar notes hoping and waiting for the price of other assets to go down relative to that asset.   The note held by Robert is a debt note with a zero coupon and the value of dollar is not likely increasing because by design its being undermined.   The danger he is overlooking is not the asset prices crashing but the price of debt will fail and reflect its inability to outperform inflation in the cost of goods generally.
   A working asset will and should always do better then a non performing asset long term.  I understand speculation and supply can over take demand in the market cycle its true but there is also the danger of being caught holding something the world neither wants or needs.   Positive world GDP is billions of people who are poor but capable of productive work and they choose to buy commodities and things they require, the debt note we've held as money for so long may not always be as in demand as it appears now.

IMO yes there is a crash coming.
This is all Dave's opinion and nothing more.

1) There are a lot ob businesses out there that rely on cheap money / low interest rates. They have been deluding themselves that everything is fine since the crash in 2008 while borrowing insane amounts of money to stay afloat. Now that interest rates are going to rise they are going to implode....and blame everyone but themselves. That is going to be the start.

2) The 2nd part is going to be businesses who have not changed with the times. You can blame boomers / millennials / democrats / republicans but it does not matter. We are in a different world then we were in 2 years ago. It was going to change anyway, covid just made the changes faster. Is you restaurant not on Uber Eats / GrubHub / Door Dash. We;; guess what, you are going to loose a ton of business.

3) People who have been riding cheap credit the same way I have businesses in #1 above, sorry people shit is going to get real. Be prepared to sell stuff or loose your home.

And then it all comes tumbling down.

However, since the current younger generation has seen this in the 2000 crash and the 2008 crash they are going to be more prepared for it and adapt better and more quickly then the boomers that were fully in charge in 2000 / 08 (full disclosure I am VERY close to boomer age)


-Dave

Yes I do but the timing might be wrong, what goes up most come down and crypto will always remain volatile no matter how huge the adoption rate is, since 2020 now crypto market have seen insane growth that has never happened before, if you keep thinking that this will keep up forever you are fooling yourself

Let's wait for a second and ponder upon the thought:
Aren't we already experiencing the market crash??
Aren't we already in an economic crisis?
Don't you remember when one mast sold for like 10$ or something??
Aren't people already jobless, homeless, unable to recieve private or public care in the hospitals??

-We are already in an economic crisis, the governments can collapse any second of the day and the thing is, all of this is kind of hidden therefore there is no way to figure out when the things will take turn for the worst. I do think that you should also look into the debt and printing money regarding the US government as well.

Always a crash is anticipated.

A person like him that's diversified with his investments would scare out the little investors and do what he says. He's like condescending person who thinks he's the best in investments.

We can count his credentials and successes but people like always take advantage of their success to show it off to the people that everything they say is like what exactly is going to happen.