Author of ‘Rich Dad’ Proclaims that his 2002 Prediction of a 2016 Market Collapse is In the Making
By Angela Wills
According to Kiyosaki, the meltdown that he predicted is underway and there is very little that investors can do at this point other than purchase gold or silver and hope the blow is softened by the Federal Reserve.
In a recent interview, Kiyosaki states, “Demography is destiny.”
According to data reported for the U.S. Census Bureau, more than 76 million people were born between 1946 and 1964. Research determined that 65 million of these individuals were still living and the number of living U.S. baby boomers was well over 76 million.
A meltdown of the market could lead those boomers’ to tarnishing their plans for retirement. According to Kiyosaki, the most difficult decision for investors at this point is trying to decide where to put their money.
He says that “Interest income or cash flow on savings is virtually nonexistent, and capital-gains plays in the stock market are thwarted because stock prices are at record highs.” According to Kiyosaki, conditions are becoming worse by things that are taking place overseas, where one big country is wielding the monkey wrench.
He goes on to add, “China has been in a bubble for 20-something years. It has propped up the U.S. economy falsely. When China stops importing, the world crashes with them.”
Kiyosaki says that the first to go will be commodity producers such as Canada, Australia and African countries, which will pull down the rest of the world’s economies.
He doesn’t stand alone in his predictions of a market crash for 2016. The increased chances of a “sharp economic slowdown” in China was pointed out in mid-March as a leading global risk by the Economist Intelligence Unit. Major areas of concern here were weak currency, accumulation of bad debt and fears that the government may not be able to shore up its economy.
Kiyosaki believes that investors are ignoring all of the signs that warn of the approaching trouble for the economy. He predicts that the next crash will be even worse than the market crashes that have taken place so far in the 21st century.