Amid continuous warnings of a major financial depression, a well-known investor, entrepreneur, and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has shared his pessimistic outlook for the future of the stock market, advising caution.
Specifically, Kiyosaki said that there were plenty of indications that the stock market was in for a severe crash and expressed fears of a looming depression, telling his followers to be wary and seek expert opinion if possible, according to the Twitter post he shared on July 17.
Indeed, the finance educator has been warning of a stock market decline since January this year, more recently arguing that the Federal Reserve’s hiking of interest rates would lead to the decline of stocks, bonds, the United States dollar, as well as the “greatest real estate crash ever,” as he predicted in early June.
Kiyosaki’s investment alternatives
As a better investment option than stocks, Kiyosaki has recommended the highly prized Wagyu cattle, the breed of cattle native to Japan, living in a stress-free environment, and with its meat famous for its unique tender and buttery flavor and marbling rich in healthy omega-3 and omega-6 acids.
On top of that, the author has long been an avid investor in “non-printable” commodities, such as gold, silver, and the flagship cryptocurrency Bitcoin (BTC), which he believes could reach the price of $120,000 next year after the BRICS (Brazil, Russia, India, China, and South Africa) summit puts the “nail in (the) coffin of fiat money.”
Furthermore, Kiyosaki has warned that the US economy was facing its “Eve of Destruction,” referring to the popular 1960s song, and reiterating his skepticism of the country’s leadership and the central bank for continuing to print more money, as Finbold reported on July 6.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
