‘Rich Dad Poor Dad’ author on how to deal with rising costs

Image credit: Getty Images

Kiyosaki recommends investing in these assets to combat high inflation.

key point

  • Top economists and experts believe the US is likely to face a recession within the next 12 months.
  • rich dad, poor dad Author Robert Kiyosaki argues that high inflation will “wipe out” 50% of the US population.
  • Kiyosaki recommends investing in gold, silver and cryptocurrencies as a hedge against inflation.

Bestselling author Robert Kiyosaki rich dad poor dad There have been a series of recent warnings about the U.S. economy. “When inflation rises, we’re going to wipe out 50 percent of the U.S. population,” he told Stansberry Research earlier this month.

“The U.S. has stopped making products and we have created bubbles,” he continued, referring to his biggest concern that we now have bubbles in all areas of the economy. He said the housing market, stock market and bond market are all bubbles. Therefore, those relying on a 401(k) for retirement may be taking too much risk.

“Inflation goes up and the average American doesn’t have $1,000. 40% of Americans don’t have $1,000. So when inflation goes up, we’ll wipe out 50% of the American population, and that’s when the revolution begins.” Kiyosaki warned, High inflation is a symptom of a major crisis and a recession is imminent.

Is a recession coming?

Kiyosaki isn’t the only one worried about a recession. JPMorgan Chase CEO Jamie Dimon believes the risk of a U.S. recession is rising. “The dark clouds on the horizon may or may not disappear,” said the chief executive of the largest U.S. bank.

Former Treasury Secretary Larry Summers shared the same concerns. He reiterated his concerns that a recession is the “most likely thing” as the Fed moves aggressively to fight inflation.

This Wall Street JournalA poll of economists last month put the chance of a recession at 28% in the next 12 months. That’s up from 18% in January and 13% a year ago. Summers is less optimistic. He sees a more than 50 percent chance of a recession, “probably two-thirds or more.”

How to profit from inflation

Kiyosaki has been heavily recommending gold, silver and bitcoin. Precious metals can help hedge against inflation. The value of gold soared 12% after Russia invaded Ukraine. Gold prices have now stabilized, but are still up slightly from the beginning of the year. By contrast, the S&P 500 has fallen nearly 20% so far this year. When it comes to cryptocurrencies, Kiyosaki believes that high national debt will cause the dollar to collapse, while Bitcoin, Ethereum and Solana can help you protect yourself.

For Kiyosaki, it’s not a question of whether the country will fall into recession, but when. “The good thing about bubbles is that when they burst, everything is on sale.” Kiyosaki said he started “buying real estate at bargain prices” during the 2008 financial crisis and now owns “more than 12,000 rental units.” For those willing to wait patiently to buy the dip, there are great opportunities here.

Warning: The highest cashback card we’re seeing right now has a 0% APR until 2024

If you use the wrong credit or debit card, it can cost you a lot of money. Our experts love this top pick, which features a 0% introductory APR through 2024, an insane cashback rate of up to 5%, and all with no annual fee.

In fact, the card is so good that our experts even used it themselves. Click here to read our full review for free and apply in 2 minutes.

Read our free review

Leave a Comment

%d bloggers like this: