After the recessionary fears subsided towards the end of last year, the first quarter of 2023 saw a resurgence in the debate on the actual health of the U.S. economy.
Many remain optimistic with major indices like the S&P 500 and the Dow Jones Industrial Average (DJIA) running at record highs.
Additionally, some, such as the ‘The Big Short’ investor Steve Eisman believe that the economy is, indeed, both doing well and not in danger as long as the FED does not intervene.
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Still, many vocal critics have also emerged, including the Societe Generale (EPA: GLE) analyst known for foreseeing the Dot-com bubble who believes that, this time around, the artificial intelligence (AI) sector is at the forefront of the instability and that the FED is adding fuel to the fire.
Still. Robert Kiyosaki, the prominent investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ remains one of the longest-standing critics and has maintained for months that not all is well and that a crash is not only imminent but also that it will be among the biggest in living memory.
Robert Kiyosaki warns that U.S. is ‘bankrupt’
In an X post from April 7, Kiyosaki bolstered his long-standing argument that something is rotten in the state of the U.S. by pointing toward the fact the American government is, on average, taking on $1 trillion in debt each quarter – a pace that would see the national burden skyrocket close to $60 trillion by 2030.
The author concluded that the U.S. is ‘bankrupt’ and that pretty much every asset class and type is set to crash, specifically naming stocks, bonds, and real estate.
Kiyosaki concluded by calling on his followers to save themselves and recommended, as he frequently does, an investment into gold and silver – his favored commodities – and the world’s premier cryptocurrency, Bitcoin (BTC).
According to the author, these assets represent the surest way for an investor or trader to ensure their safety in the context of a large stock market crash Kiyosaki believes is sure to happen in the near future.
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