No Soft Landing: Here’s Why Robert Kiyosaki Believes the American Economy Is in Depression
The predictions for the US economy continue to be gloomy.
“Rich Dad Poor Dad” author Robert Kiyosaki bluntly stated that the American economy is in a depression. He defined depression as an economy experiencing subpar growth – even though it is technically growing, it’s below its potential.
To support his claim, Kiyosaki pointed out that in Q4 2023, the economy grew by 3.4%, but in Q1 2024, it only increased by 1.6%, less than half of the previous quarter’s growth.
American Economy Growing Below Potential
In his tweet, Kiyosaki even warned against believing fake news and encouraged seeking facts, preparation, and taking care as the ongoing downward trend indicates there won’t be a “soft landing.”
Q: Is the American economy in
DEPRESSION?
A: Yes
Definition of a depression: an economy in subpar growth. In other words the economy may be growing but below potential.
Q4 2023 economy grew by 3.4%.
Q1 2024 economy grew by 1.6% less than half.
Not going to be a soft…
— Robert Kiyosaki (@theRealKiyosaki) April 25, 2024
This tweet follows his earlier suggestions about investing in Bitcoin.
Kiyosaki – who has penned down several financial books – is a strong supporter of the Bitcoin ecosystem and had previously urged his followers to reduce their exposure to fiat currencies, which he described as part of the “fake money system.”
Rich Dad Poor Dad’s Bitcoin Predictions
The popular financial guru predicted that BTC could reach $300,000 by the end of 2024 as the world’s leading asset was experiencing significant rallies driven primarily by the introduction of spot Bitcoin ETFs.
He even deemed that BTC is superior to traditional assets such as gold, silver, and oil.
Despite his ownership of gold and silver mines along with oil wells, Kiyosaki said that a fundamental flaw in these traditional assets is that the more they are mined, the more their values are diluted. This contrasts sharply with bitcoin, which has a fixed supply of 21 million BTC, highlighting its advantage in terms of scarcity and potential long-term value.
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Filed under: Bitcoin - @ April 26, 2024 2:19 pm