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Rich Dad, Poor Dad ? Even Robert Kiyosaki Is Warning That An Economic Collapse Is Coming
The Economic Collapse ^ | 06/28/2011 | Michael Snyder

Posted on 06/28/2011 2:16:16 PM PDT by SeekAndFind

Are you familiar with Robert Kiyosaki? He is best known for the "Rich Dad, Poor Dad" series of books. Over 26 million books authored by Kiyosaki have been sold and he is recognized as a financial expert by millions of people across the globe. Well, guess what? Even Robert Kiyosaki is warning that an economic collapse is coming. In fact, Kiyosaki and his team of financial experts are encouraging Americans to stock up on food, guns and precious metals. This is yet another sign of just how close we are to the total collapse of the U.S. Economy. Kiyosaki, who once co-authored a book with Donald Trump entitled "Why We Want You To Be Rich" is now a full-fledged prepper. As even more prominent Americans start warning that an "economic collapse" is coming do you think that the American people will finally wake up and start paying attention?

The statements that Robert Kiyosaki makes in the video posted below are absolutely jaw-dropping. Once upon a time he was all about teaching people how they could get rich, but now he is talking about storing food, buying guns, investing in precious metals and preparing for the coming crash.

The following are 11 of the best Kiyosaki "sound bites" from the video below....

#1 "when the economy crashes as we predict"

#2 "the crowds come rushing in to buy gold and silver"

#3 "we could either go into a depression or we go to hyperinflation"

#4 "or we could also go to war"

#5 "buy a gun"

#6 "I'm preparing"

#7 "I'm prepared for the worst"

#8 "so come to my house and I'm armed and dangerous and I'll welcome you"

#9 "we have food, we have water, we have guns, gold and silver, and cash"

#10 "the credit card system shuts down, the world shuts down"

#11 "the supermarkets have less than 3 days supply"

If you have not seen this video yet, it is definitely worth the 8 minutes that it takes to watch it. Robert Kiyosaki seems to be extremely alarmed about the future of the U.S. economy....

It certainly seems as though the entire financial culture in America is changing.

Once upon a time everyone wanted to know how to get rich.

Now everyone wants to know how to survive the collapse that is coming.

As I have written about previously, even people like Tony Robbins and Donald Trump are warning that an economic collapse is coming.

Economic pessimism is seemingly everywhere and almost every recent survey indicates that the American people are losing faith in the U.S. economy.

For example, in a recent article I noted that 48 percent of Americans believe that it is likely that another great Depression will begin within the next 12 months.

According to Gallup, the percentage of Americans that lack confidence in U.S. banks is now at an all-time high of 36%. Back in 2007, just 14% of Americans lacked confidence in U.S. banks.

In order for society to function correctly, people need to be able to trust each other and they need to be able to trust the major institutions that hold society together.

Once confidence in our major societal institutions is gone, it is going to be incredibly difficult to get it back.

Sadly, the reality is that many of our major financial institutions have been untrustworthy for a very long time. It is just that the American people are only just now starting to wake up to that fact.

For example, the Federal Reserve has been at the heart of our economic problems for decades but most Americans have not realized it.

But now that is starting to change. According to one recent poll, only 30% of Americans currently view Federal Reserve Chairman Ben Bernanke favorably.

The American people are becoming increasingly dissatisfied with an economic system where the vast majority of the rewards flow to Wall Street, the big banks, the biggest corporations and the ultra-wealthy.

According to the Washington Post, the top 0.1% of all income earners in the United States took home 2.6% of the nation's earnings in 1975. By 2008, the top 0.1% were taking home 10.4% of the nation's earnings.

The Washington Post also says that after adjusting for inflation, the average income of the top 0.1% of all Americans jumped by 385 percent between 1970 and 2008 while the average income for the bottom 90 percent of all Americans actually fell by one percent.

The sad truth is that income inequality in the United States has become a major problem. A very small sliver of the population is reaping almost all of the rewards and the middle class is being ripped to shreds. Conservatives, liberals, Democrats, Republicans and libertarians should all be alarmed by this.

Meanwhile, the national debt continues to explode. Right now, U.S. government debt is expanding at a rate of $40,000 per second.

Every single minute we steal another 2 million dollars away from our children and our grandchildren.

But if we stop this theft it would throw the U.S. economy into a horrible economic crisis that would be far worse than what we are experiencing right now.

That is why the vast majority of our politicians do not have the guts to do it.

We truly are caught between a rock and a hard place.

But people like Robert Kiyosaki can see what is coming, and they are getting prepared.

Are you prepared?

Many of our young people have come up with their own versions of an "economic stimulus plan". In past articles I have documented many of the signs that society is collapsing, including the disturbing rise of the "mob robbery" phenomenon.

Well, just the other day there was another very shocking mob robbery in the city of Philadelphia.

On Thursday, a mob of 40 teens and young adults invaded a Sears department store on 69th Street, grabbed all of the merchandise that they could carry, and stormed right back out again.

We are starting to see these kinds of large scale crimes happen from coast to coast.

So what is going to happen to America if the economy experiences the kind of full out collapse that Robert Kiyosaki is talking about?

We live in very interesting times.

I hope that you are getting prepared.



TOPICS: Business/Economy; History; Society
KEYWORDS: economiccollapse; poordad; richdad; robertkiyosaki

1 posted on 06/28/2011 2:16:21 PM PDT by SeekAndFind
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To: SeekAndFind

Kyo may well be correct, but I still think he’s a charlatan.
One of my work friends went to his seminar some years ago, went “all in” on leveraged real estate deals, and was financially destroyed.


2 posted on 06/28/2011 2:20:33 PM PDT by nascarnation
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To: SeekAndFind

We may be close to a second American revolution.


3 posted on 06/28/2011 2:23:45 PM PDT by Biggirl ("Jesus talked to us as individuals"-Jim Vicevich/Thanks JimV!)
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To: SeekAndFind

when you continuously outsource american jobs, the only americans getting rich are the ones doing the outsourcing. Seems pretty obvious to me more and more cash will go into the hands of fewer and fewer people.


4 posted on 06/28/2011 2:26:07 PM PDT by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: SeekAndFind

I think I heard this analogy here on Freerepublic but I’ll repeat:

The current world economy is like a WWII aircraft carrier that is burning out of control after being hit by a torpedo or two. But the fire has not yet hit the munitions stores.

Look for that event. And when you see it, the time to prepare will have passed.


5 posted on 06/28/2011 2:26:32 PM PDT by RobRoy (The US today: Revelation 18:4)
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To: SeekAndFind
"In order for society to function correctly, people need to be able to trust each other and they need to be able to trust the major institutions that hold society together.

Just wait until the USA defaults and the dollar becomes worthless.

That will be like finding out Mohammad was a space alien pedophile for Muslims.

The total destruction of the organizing principles of the current world order.

6 posted on 06/28/2011 2:28:44 PM PDT by Mariner (War Criminal #18)
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To: Biggirl
We may be close to a second American revolution.

Many would agree that it's time to hit the re-set button.

7 posted on 06/28/2011 2:29:39 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: SeekAndFind

marker


8 posted on 06/28/2011 2:31:55 PM PDT by JDoutrider
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To: SeekAndFind

I guess he misses the glory days of having a best-seller, and needs the spotlight again, so he’s jumping on the doom and gloom bandwagon. I distrust hustlers like this
*instinctively*, so I’ll pass. Anyone who promotes a book
with this kind of content using the strategy of “Look at how he’s reversed course!Look at the unprecedented things he’s saying now!, is desperate, and will be more desperate still once people find out just how little substance his first book had.


9 posted on 06/28/2011 2:36:39 PM PDT by supremedoctrine ((yeah, that's right,supremedoctrine.))
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To: Biggirl

It’s coming sooner than you think.


10 posted on 06/28/2011 2:38:12 PM PDT by NoKoolAidforMe (I'm clinging to my God and my guns. You can keep the change.)
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To: nascarnation

In a total market collapse, why would gold be worth anything?

Tools, fuel, food, seeds, water, guns, ammo. Those are the commodities to have.


11 posted on 06/28/2011 2:38:58 PM PDT by rokkitapps ( Hearings on healthcare waivers NOW! (If you agree make this your tagline))
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To: nascarnation

You beat me to the punch...not too many years ago (after making a pile off his “Rich Dad” book), Kyo was encouraging everyone to invest in the risky real estate deals that destroyed your friend. Doesn’t look like he’s hurting, so I’m guessing “Kyo” didn’t take his own advice.


12 posted on 06/28/2011 2:40:33 PM PDT by ExNewsExSpook
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To: rokkitapps

I have all that stuff, but gold has a track record throughout recorded history as a source of value.


13 posted on 06/28/2011 2:41:39 PM PDT by nascarnation
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To: ExNewsExSpook

The frustrating part was that the guy gave me all his Kyo “materials”, asked for my opinion, and then disregarded my cautions about Kyo.

A good fellow too, just gullible. I’ve never been to one of those Kyo seminars, but I’d bet it’s like a “time share” pitch.
Most people know it’s a loser, but a percentage can’t say no.


14 posted on 06/28/2011 2:46:04 PM PDT by nascarnation
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To: nascarnation

true. If the financial world melts down, gold will be great to have, but these guys are taking it to the next level - suggesting a zombie-style apocalypse (criminals or the unprepared being the zombies) will occur.

If the system truly breaks down to that extent, you may have to trade a pound of gold (or more) for a meal.


15 posted on 06/28/2011 2:46:38 PM PDT by rokkitapps ( Hearings on healthcare waivers NOW! (If you agree make this your tagline))
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To: supremedoctrine

I’ve always seen people such as Kiyosaki and Trump and others such as Dave Ramsey and Clark Howard as two opposite points on a pendulum. Either extreme is dangerous but somewhere in the middle between the two is good place to be. A similar allegory applies to labor and capital. Each has been at an extreme of power in our nation’s history and neither extreme is good.


16 posted on 06/28/2011 2:53:56 PM PDT by stefanbatory (Insert witty tagline here)
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To: SeekAndFind

Listen, all you Chickens Little, even during the Depression — when the US economy arguably collapsed — there was food, there was fuel, there was order.

Nothing is going to “collapse” the economy — or civilization — absent plague, nuclear holocaust, or world war. In short, the end of the world.

And a Bible VIP says anyone who says they can predict that is an idiot.


17 posted on 06/28/2011 2:55:02 PM PDT by Blue Ink
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To: SeekAndFind
#3 “we could either go into a depression or we go to hyperinflation”

More in that vein:

* stocks will go up or they will go down.

* The world will get warmer, or cooler.

* Obama could get reelected, or someone else will be.

18 posted on 06/28/2011 2:56:42 PM PDT by USFRIENDINVICTORIA
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To: nascarnation; supremedoctrine; ExNewsExSpook
I still think he’s a charlatan

Correct. I'm guessing that any day now Kiyosaki will come out with a book titled "Rich Dad, Prepared Dad". It will have one page of useful information spread out onto 200 pages and cost $29.99.

And then he'll start "Rich Dad, Prepared Dad" seminars. Attendees will be pressured into paying $2000 or so for "personal preparedness coaching".

19 posted on 06/28/2011 2:57:39 PM PDT by Leaning Right (Why am I carrying this lantern? you ask. I am looking for the next Reagan.)
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To: nascarnation

“Kyo may well be correct, but I still think he’s a charlatan.”

He IS a charlatan.

he is also not an economist and no more of an expert than your average commentator or pundit so his opinion is worth very little.

Economy will grow 2.5-3% this year. We have a weak recovery, one that is stunted by Obama’s bad policies, but its not the end of the world, and people who scare you out of investments with this doom-and-gloom claims might hurt rather than help your returns.


20 posted on 06/28/2011 3:02:30 PM PDT by WOSG (Herman Cain for President)
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To: rokkitapps
"In a total market collapse, why would gold be worth anything?"

Man has always needed some form of "standard currency" to trade with. I don't disagree that "Tools, fuel, food, seeds, water, guns, ammo." would be good for barter but there kind of hard to carry around with you all the time.

Precious metals have always been relied upon as a safe and mutual form of currency. Small amounts of silver, gold, copper, diamonds, are easy to trade with and are accepted by all. I personally think junk silver is a perfect currency for trading. Junk silver coins are pre 1964 US quarters, dimes and halve dollar coins. Right now a junk silver dime is worth over $3.00.

Yes you could got to a market and buy a chicken using a rake or perhaps a few 9mm rounds or maybe a tomato plant but it would be a lot easier to use that junk silver dime to buy a chicken. While your at the market you could use another few pieces of silver or an even smaller piece of gold to buy a rake, some ammo, and a tomato plant. Then perhaps you could go get a meal and pay with silver and perhaps leave a copper as a tip. It would sure beat buying your meal with a pint of gasoline and leaving a few nails for a tip.

21 posted on 06/28/2011 3:13:35 PM PDT by Graneros ("It is no exaggeration to say that the undecided could go one way or another.")
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To: Blue Ink

You give excellent advice and points. This charlatan is giving bad advice based on ‘headline’ scare-talk.

Yes, there are risks. Every day there is something out there that could make the market go down. There is mixed bag of news - oil up too high, consumer confidence down too low, etc. But we move along.

“Listen, all you Chickens Little, even during the Depression — when the US economy arguably collapsed — there was food, there was fuel, there was order.”

There was also jobs, with 80% of people working, there was investments, in fact great companies that endure today were good buys then, precisely because it was hard times.

The people that got hurt most were those who bought at the top on margin and got wiped out as the stock market fell by 90%.

If you have a balanced bond/stock portfolio that is well-diversified, keep ready money for emergencies, and are frugal and stay out of debt and not to extended in your lifestyle (eg dont buy a house that you lose to foreclosure in the event you get a pay cut etc), you can survive ‘hard times’.

And if you get to the bottom - check your last penny and what’s written on it ... IN GOD WE TRUST. Put your trust in the Lord and the vagaries of human experience will be of no large concern.


22 posted on 06/28/2011 3:16:13 PM PDT by WOSG (Herman Cain for President)
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To: stefanbatory

I listened to Dave Ramsey a lot when he first came onto the NY radio market several years back. Now I don’t think he’s on at all here. His message was, to me, both commonsensical, and had nearly revolutionary potential.
His overwhelming emphasis was on GET OUT OF DEBT COME HELL OR HIGH WATER, AND DO IT ASAP! He also shot through his message with a healthy dose of Christian principles, and sometimes would ask a caller “So, how are you with this debt MORALLY?” I woulda thought Ramsey would become MUCH bigger with the economic collapse started 2 1/2 years ago, but the opposite seems to have happened: it didn’t matter so much if you paid off all your debt-—banks were only too happy to take your money, though they still needed bailouts ANYWAY,the government is still accumulating debt in your name, and your children’s name, and you’re having a much harder time getting any credit, which you’re going to need since that same Government has either destroyed your livelihood or put it at risk.


23 posted on 06/28/2011 3:19:30 PM PDT by supremedoctrine ((yeah, that's right,supremedoctrine.))
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To: SeekAndFind
John T. Reed is a real estate investor and a graduate of West Point and Harvard Business School. He has a website where he has reviewed and analyzed many real-estate-investment gurus in detail. Here is Reed's webpage wherein he appears to completely demolish Robert Kiyosaki.
24 posted on 06/28/2011 3:26:35 PM PDT by wideminded
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To: nascarnation
""we could either go into a depression or we go to hyperinflation""

"I still think he’s a charlatan."

Sounds like it.

25 posted on 06/28/2011 3:38:13 PM PDT by Paladin2
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To: wideminded

I often wonder what kind of life a person must lead who spends hundreds of hours trying to tear others down, while at the same time selling his own stuff as he does it...

[I have no overarching opinion or RK. Some things in his books are great, some are unclear or wrong. I have my own “rich dad” who has mentored me. I also have my “bio-corporate dad”. I’ve learned from both. ]


26 posted on 06/28/2011 3:42:11 PM PDT by aMorePerfectUnion (A Nation of Sheep Breeds a Government of Wolves!)
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To: rokkitapps

People who think like you have given us the Democrats as our “leaders.”


27 posted on 06/28/2011 3:42:20 PM PDT by Misterioso (A liberal is a communist, but too stupid to realize it.)
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To: aMorePerfectUnion
I often wonder what kind of life a person must lead who spends hundreds of hours trying to tear others down, while at the same time selling his own stuff as he does it...

If the people he is tearing down are charlatans, and the advice he gives is generally good, then there is nothing wrong with this, and he is in fact performing a public service as well as giving people value for the money they spend on his books.

I recommend reading everything Reed has to say about Kiyosaki (and some of the other "gurus") with an open mind and forming your own opinion if what he says has merit.

You might also want to check out his general piece on real estate B.S. detection and see if there is anything in there with which you disagree.

28 posted on 06/28/2011 5:09:19 PM PDT by wideminded
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To: Blue Ink
Listen, all you Chickens Little, even during the Depression — when the US economy arguably collapsed — there was food, there was fuel, there was order.

Nothing is going to “collapse” the economy — or civilization — absent plague, nuclear holocaust, or world war. In short, the end of the world.


While you may be right that everything won't collapse, you are ignoring several important things. First, the Great Depression was not an economic collapse. It was not, actually, that severe a depression, by historical standards. So using that as a worst case scenario is misleading.

More importantly, the world has changed dramatically since the 1930s. Since you mentioned food, look at the difference in food distribution between then, and now. Then, most individuals had a sizable amount of raw food on hand. I have seen guesstimates that 6 months or so was the norm. Now, that number is measured in days (2 weeks at most). But it is not just households. The typical can of green beans would have been years old before the 1930s consumer bought it. It would have spent those years in storage, somewhere. Now, the can of green beans that you buy today is only weeks old. What this means is that at any given point in time, there was a huge amount of food sitting out there, in the pipeline, so to speak, waiting to be bought. Today, that stockpile of food is essentially non-existent.

And the same pattern is true in just about every industry, from food production, to the manufacture of widgets. This means that there is no stockpile of stuff "out there", on either a personal level, nor in the economy, to provide supply during a full economic collapse.

Society has evolved, especially over the last 40 years, in response to the massive changes in production, delivery, and finances. Maybe none of this matters, in the end. But if there is a full economic collapse (not like what we saw in the 30s), it is fairly easy to see how most of society would fall apart almost immediately.

And "order"? If food supply is disrupted (which would happen almost immediately, in the case of a full-blown credit crisis), the food would run out in NYC within days. While I have enormous respect for the police, the idea that order would be maintained is simply unrealistic.
29 posted on 06/28/2011 5:16:12 PM PDT by jjsheridan5
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks SeekAndFind.
He is best known for the "Rich Dad, Poor Dad" series of books... Kiyosaki and his team of financial experts are encouraging Americans to stock up on food, guns and precious metals... Kiyosaki, who once co-authored a book with Donald Trump entitled "Why We Want You To Be Rich" is now a full-fledged prepper.

30 posted on 06/28/2011 5:46:27 PM PDT by SunkenCiv (It's the Obamacare, stupid! -- Thanks Cincinna for this link -- http://www.friendsofitamar.org)
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