‘We are About to Enter Very Tough Economy’
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Robert Kiyosaki, author of classic book on financial literacy “Rich Dad Poor Dad,” expects the worse to occur for the U.S. economy, according to his fresh tweet. Kiysaki is also a well-known supporter of Bitcoin, which he holds along with silver and gold in his long-term investment portfolio.
In the meantime, the world’s flagship cryptocurrency, Bitcoin, has established a new historic price peak, reaching the $73,637 level and adding fuel to the fire of the crypto community’s enthusiasm. Bitcoin has been soaring on the wave of stable ETF purchases and expectations about rate cuts this year.
Kiyosaki issues gloomy prediction on U.S. economy’s future
Robert Kiyosaki has taken to the X social media platform to share another gloomy prediction about the U.S. economy and financial markets. Overall, the tweet he published contains two “lessons from an old guy to the young.”
The first lesson from the financial guru and a seasoned investor stresses the importance of diet and exercise to keep one’s body in a healthy state for as long as possible. The second lesson from him is about a positive effect of having a positive attitude toward life. The point of these lessons, Kiyosaki explains, is that he predicts that the U.S. is “about to enter a very tough economy.” Therefore, he advises his X/Twitter followers to care for their health and smile even if life gets tough so as to live through the approaching hard period in the easiest way possible.
Kiyosaki’s “habit” for gloomy predictions
Kiyosaki is known for his frequent gloomy predictions on X/Twitter. Generally, when he predicts the economy will get worse or stock markets crash, his key point here is that the Federal Reserve has been oversaturating the economy with “fake” U.S. dollars.
This first started in 2020, when the pandemic stepped into the world and lockdowns hit global economies, causing the crude oil price to drop below zero briefly and Bitcoin to fall below $4,000. In that year alone, the U.S. government injected more than $6 billion into the economy in the form of “survival checks” and bailouts for banks and corporations.
The money printing continued over the past few years, and in 2023, more money emerged from the Fed’s printer when the U.S. was struck by a banking crisis.
