Robert Kiyosaki, the author of the massively successful personal-finance book Rich Dad Poor Dad, warns a significant global economic crash is coming, but also says it will provide opportunities where “entrepreneurs are going to win.”
Robert Kiyosaki is the author of over 26 books and is most well-known for the 1997 book Rich Dad Poor Dad. The book was co-written by CPA Sharon Lechter and has sold over 32 million copies. It features personal finance, entrepreneurship, business investing, financial literacy, and financial independence lessons.
Now, Kiyosaki is warning that an economic crash “worse” than the 2008 global recession is coming. He did not elaborate on how severe the crash would be or when it would occur.
“2008 was the first big crash, and a bigger crash is coming,” he said, explaining that currently, as had occurred in 2008, world governments are printing too much money.
In the strongest of terms, economically speaking, Kiyosaki told the Daily Telegraph in an exclusive interview: “We are on the verge of war right now.”
The American businessman and author points to many signs while emphasizing: “What I am talking about is the macro and historic picture.”
“We are living in the time of the greatest change in economic history,” Kiyosaki said. “Something is happening in the world that hasn’t happened before.”
Among the warning signs Kiyosaki sees are America’s waning influence and internal divisions and years of Western governments printing “too much money” as major red flags.
The rise of China is another major factor. Kiyosaki believes China is ascending to take over the current US leadership of the global economy. At the same time, he sees this as increasing the threat of a violent conflict.
“I am pessimistic about a crash … but it is also the best time to get rich,” Kiyosaki claims. “Entrepreneurs are going to win.”
One area of investment Kiyosaki is an expert at is real estate. He reportedly owns over 8000 properties.
“If you are counting on property (always) going up, you could be wrong,” Kiyosaki warns.
He added that property prices might tank when another economic disaster hits, and prudent investors need to be prepared to write out a downturn.
Kiyosaki says the opportunities for investors will come when real estate values drop.
“If there is a crash, a lot of bargains will be available,” he projects.
The opportunities will occur when the crash is followed by a gradual recovery.