Robert Kiyosaki Predicts Market Crashes
The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with dire warnings about market crashes. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Kiyosaki described in a tweet Friday that every market is crashing and the middle class will be wiped out by “higher oil inflation.” He wrote:
All markets crashing: real estate, stocks, gold, silver, bitcoin. Middle class wiped out by higher oil inflation.
On Sunday, he followed up with a tweet referencing a book he published in October 2013 titled “Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming … And How You Can Prepare Yourself and Profit From It!”
He detailed that 2008 was a great time to get rich since everything “went on sale.” Noting his prediction of a bigger crash outlined in his book, the renowned author wrote: “That crash is here. Millions will be wiped out.”
“Before we see a bottom, it will be at least the end of 2023. The S&P will be down roughly 86% before this is over, and the Nasdaq will be down 92%.
Strategist Harry Dent Jr., “The Contrarian’s Contrarian,” has been predicting “a great reset of the biggest financial asset bubble in history” for some time. Now it is here, he tells ThinkAdvisor in an interview.
“The biggest crash of our lifetime is in progress,” he declares. “We’re probably about 30% of the way into it. I’m calling this ‘Tech Wreck 2’ because it’s the second crash led by tech stocks.”
Dent is strongly recommending that investors “Get out of risk assts. This is your last chance to sell. Get out of the way of the crash! Sell right now!” he urges.
“You don’t wait [till fall]. The market will go down harder and faster” than it did earlier this year, he says. By the end of 2022, it will be at “new lows. By then it will be too late for most.”
“You can burn me at the stake if I’m wrong,” he declares.
The long-time newsletter publisher is famed for his market and economic prognostications, a good deal of which have failed to come about.
But the Harvard MBA correctly predicted Japan’s 1989 bubble bust and recession, the dotcom crash and the populist surge that made Donald Trump the 45th president of the United States.
In the interview, Dent recommends “get[ting] out of real estate, normal bonds and junk bonds.” Holding them, he says, “will decrease the value of your assets; and you’ll not get back to new highs on those for decades.”
He continues. “Before we see a bottom, it will be at least the end of 2023. The S&P will be down roughly 86% before this is over, and the Nasdaq will be down 92%.
“This is not another correction,” he emphasizes. “This is a crash that has been put off now for 13 years. This is not something you sit through.”
www.thinkadvisor.com/2022/08/29/harry-dent-crash-of-a-lifetime-is-here-sell-stocks-now/