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The economy is the biggest bubble in world history, says Robert Kiyosaki

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Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#11
post #2

Maybe it is but the guy is a snake oil salesman who doesn't deserve more attention for saying this.

He’s the author of Rich Dad, Poor Dad, right? I know a few people who were helped by his book. What is your issue?

"Rich Dad, Poor Dad" good parts can be summarized in one sentence: "Start saving money and invest what you save". The rest of it is just bullshit.

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#12
post #2

Maybe it is but the guy is a snake oil salesman who doesn't deserve more attention for saying this.

He’s the author of Rich Dad, Poor Dad, right? I know a few people who were helped by his book. What is your issue?

That book is the perfect stupid people's detector

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#13
post #2

Maybe it is but the guy is a snake oil salesman who doesn't deserve more attention for saying this.

He’s the author of Rich Dad, Poor Dad, right? I know a few people who were helped by his book. What is your issue?

He has other books too

- https://en.wikipedia.org/wiki/Why_We_Want_You_to_Be_Rich

- https://en.wikipedia.org/wiki/Midas_Touch_(book)

It's a resume that speaks for itself.

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#14
post #2

Maybe it is but the guy is a snake oil salesman who doesn't deserve more attention for saying this.

He’s the author of Rich Dad, Poor Dad, right? I know a few people who were helped by his book. What is your issue?

His book is largely a work of fiction that happens to have some, frankly rather simple and not that insightful stuff in there.

Good advice can be and is often simple, so that's not really a criticism. My problem is that he then ran with that as a platform to 'Always Be Right' when actually he's not really very qualified or experienced above some real basics.

He's a charlatan cruising on a few good phrases.

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#15
Economy is clearly on shaky footing.

My child has a sore throat, and my doctor tells me there's an antibiotics shortage. First time in my young life I've heard of an antibiotics shortage.

I work in construction, housing, and there are materials shortages causing price increases and delays.

My parents are talking about retirement, how the recent crash has made them reassess their position. I remind them there's a lot of folks looking to retire, looking to sell their assets, a drag on securities.

US Dollar is tied to productivity - now headlines are saying there is uncertainty in productivity measurements.

We could be in for a bumpy ride. If you're looking to retire, inflation could eat your lunch. Kiyosaki's target audience is in that age range.

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#16
Whenever these proclamations stress me out, I remember this:

The atom of the economy is a human. There are almost 8 billion of us. We will continue to need shelter and food. We will continue to want better and better lives. There will always be booms and busts. But demand will never disappear.

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#17
post #2

Maybe it is but the guy is a snake oil salesman who doesn't deserve more attention for saying this.

He recommends you invest in gold, silver, Bitcoin. I'm hearing "One of these things is not like the other..." playing in my head.

Silver because of industrial uses?

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#18
The term "bubble" gets misused a lot, to the point that they describe any asset appreciation that might be due for a 30% correction as a "bubble." Tulips were a bubble. Dot-coms were a bubble. Housing in 2021 wasn't because prices were driven by real market forces (asset appreciation elsewhere, low interest rates, increased demand for housing due to WFH), not just a speculative mania backed by hopes and dreams.

I like that he's suggesting Bitcoin as an alternative, though /s

Re: The economy is the biggest bubble in world history, says Robert Kiyosaki

#19
post #11

Earlier quoted context omitted.

He’s the author of Rich Dad, Poor Dad, right? I know a few people who were helped by his book. What is your issue?

"Rich Dad, Poor Dad" good parts can be summarized in one sentence: "Start saving money and invest what you save". The rest of it is just bullshit.

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