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Here is why Robert Kiyosaki believes the US economy is in depression

Here is why Robert Kiyosaki believes the US economy is in depression
Aneena Alex

Robert Kiyosaki, a leading gold, silver, and Bitcoin (BTC) investor and author of the renowned book “Rich Dad Poor Dad,” recently expressed his views on the current state of the US economy, stating that it is “not going to be a soft landing.”

Kiyosaki asserts that the US economy is currently in a depression, which he defines as ‘an economy in subpar growth.’

In an X (formerly Twitter) post on April 26, Kiyosaki commented that the American economy is in a “depression,” characterized by growth rates significantly below potential.

Kiyosaki’s economic outlook

Kiyosaki highlighted the recent economic figures to substantiate his claim. In the fourth quarter of 2023, the U.S. economy expanded by 3.4%. However, this growth decelerated in the first quarter of 2024 to just 1.6%, demonstrating a sharp decline and reinforcing Kiyosaki’s argument.

He expressed concern over the prevalent optimism that might overlook underlying economic weaknesses and urged the public to focus on facts and cautious financial planning. Kiyosaki’s perspective is notably influenced by his skepticism towards official reports and what he terms “fake news.”

The community has reacted with mixed feelings. While some acknowledge that these figures indicate a significant slowdown requiring attention, they commented that it does not technically meet the definition of depression.

Meanwhile, Jamie Dimon, CEO of JPMorgan Chase (NYSE: JPM), presented a more optimistic yet cautious outlook, as reported by NBC News. He recognized the risk of stagflation but expressed hope for a soft landing, where the economy might slow but avoid a recession despite ongoing inflationary pressures.

These opposing views from leading financial figures highlight the uncertainty and varied expectations for the future of the US economy.

While Kiyosaki prepares for a significant downturn, Dimon maintains cautious optimism, reflecting the broader debate among investors and economists.

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