The benchmark S&P 500 index is down 4.54% on a year-to-date basis — and famed author and investor Robert Kiyosaki is ringing the alarm bells.
Kiyosaki, who penned the personal finance bestseller ‘Rich Dad Poor Dad’ in 1997, is an outspoken market commentator. For years on end, he has sung the praises of gold, silver, and cryptocurrencies, primarily Bitcoin (BTC). In contrast, the finance guru has been a staunch critic of fiat currencies, which he often refers to as ‘fake money’.
With a budding trade war between the United States and allies and rivals alike, worries concerning the impact of tariffs, potentially resurgent inflation, and an economic slowdown have led to a selloff of risk assets. JPMorgan currency pegs the odds of a recession in 2025 at 40%.
Picks for you
In the midst of the tumult, Robert Kiyosaki turned to social media platform X on March 11 to counsel investors on how they should comport themselves to avoid disaster.
The everything bubble has popped — at least per Robert Kiyosaki
The author believes that the ‘everything bubble’, a state of heightened valuations without the fundamentals to support them, is currently bursting, per a recent X post.
Robert Kiyosaki shared his concern that this crash might end up being the biggest one in history — surpassing even the crash of 1929 which led to the Great Depression. Furthermore, he claimed to have written about this crash in another of his works, ‘Rich Dad’s Prophecy’.
Moreover, Kiyosaki urged investors not to panic, but to be stoic instead — and to wait for the dust to settle and acquire great real assets at deep discounts. Lastly, the finance guru reiterated his bullishness on real estate, gold, silver, and Bitcoin.
So — is this a fair representation of the state of things? Robert Kiyosaki has been dubbed an alarmist by many, as he predicts crashes which fail to materialize with regularity.
As concerning as recent developments are, the S&P 500 is some 8.62% off of its all-time high (ATH) of 6,144 reached on February 19. Although things have taken a turn for the worse, dubbing what is happening a crash is premature.
Finally, readers should note that Kiyosaki’s claim of having written about this crash is quite misleading. The book in question, ‘Rich Dad’s Prophecy’, came out in 2002. The author had originally predicted that the crash would occur around 2016, as Baby Boomers began retiring en masse.
However, that hasn’t stopped Kiyosaki from claiming that his work correctly predicted the crash of all crashes was happening in 2020, then in 2022, and in 2023.
Disclaimer: The featured image in this article is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted.
