Robert Kiyosaki, the author of the popular book “Rich Dad Poor Dad,” has been sounding alarm bells about the state of the U.S. economy. He recently criticized the Wall Street Journal for claiming that the economy is strong, arguing that the stock market’s rise is merely a result of President Joe Biden signing an agreement to raise the debt ceiling. Kiyosaki firmly believes that the country is actually broke and, as a consequence, he continues to advocate for investments in gold, silver, and bitcoin.
On July 14, Kiyosaki further warned that the stock market’s surge is linked to the removal of the debt ceiling, which he believes will lead to a significant increase in the national debt along with the stock market’s growth.
Throughout his public statements, Kiyosaki has consistently expressed his belief that the policies of the Biden administration and the Federal Reserve are detrimental to the U.S. economy and the value of the U.S. dollar.
In June, Kiyosaki also predicted that more banks in the U.S. are at risk of failing, attributing the problem to Federal Reserve policies. This year alone, there have been several instances of bank collapses in the country, such as Heartland Tri-State Bank, Silicon Valley Bank, Signature Bank, First Republic Bank, and the voluntary liquidation of Silvergate Bank. These failures have raised concerns about the stability of regional banks in the U.S. and have prompted Kiyosaki to voice his apprehension about the overall financial situation in the country.