Skip to content

Robert Kiyosaki destroys WSJ’s economy claims: Why he’s all-in on Bitcoin

Robert Kiyosaki destroys WSJ's economy claims: Why he's all-in on Bitcoin
Ana Zirojevic

After the American business and economic-focused daily newspaper, Wall Street Journal (WSJ), ran an article in which the authors stated that the economy in the United States was strong, Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has viciously attacked these claims.

Indeed, Kiyosaki called the article’s authors “numb nuts,” stressing that “America is broke,” and the stock market was only up because US President Joe “Biden raised [the] debt ceiling,” reiterating his support for gold, silver, and Bitcoin (BTC) in a tweet he posted on July 31.

WSJ: No recession in the US

Specifically, the article to which the well-known investor was referring is ‘U.S. Economic Growth Accelerates, Defying Slowdown Expectations’ published on July 27, in which the authors argue that the US economy had grown 2.4% in the second quarter of 2023, suggesting the US was “steering clear of recession.” According to the WSJ:

“As inflation falls from historic highs and the labor market remains strong, solid growth adds to the prospect of a soft landing—in which inflation returns close to the Federal Reserve’s 2% target without a recession.”

Furthermore, the WSJ reports that the economy has grown “at better than a 2% pace over the past year, following a mild contraction in early 2022,” as well as that this growth was “roughly in line” with the rate in the decade before the pandemic took hold.

Kiyosaki: US economy on the rocks

Meanwhile, the finance educator has long been warning of the impending doom of the US economy and its deadly consequences, particularly as the BRICS (Brazil, Russia, India, China, and South Africa) and other countries gang up against the “big playground bully,” and the US dollar loses its domination and position as the reserve currency of the world, flooding back to America.

Earlier, Kiyosaki had also voiced his opinion that the current government was not working in the people’s interest, calling the Federal Reserve and other parts of the government “the Adams family” and “cartoons killing the economy,” which is in “serious trouble,”

As for Bitcoin, the flagship decentralized finance (DeFi) asset, the author has long advised his followers to invest in it and projected it would reach the price of $120,000 in 2024, as the “US currency will die” and “trillions of US $” will rush home, as Finbold reported on July 11.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.