“Rich Dad Poor Dad” author Robert Kiyosaki says the big crash he predicted in 2013 is finally here. In a tweet, he said that crash is here and that millions will be wiped out. He’s advising investors to by silver coins. “I do not touch paper gold or silver ETFs,” he said. “For $25 bucks, everyone can buy a silver coin.” In other news, author Charles Hugh Smith is explaining the 10 ways this recession would be different than the previous ones.

Of Two Minds via ZeroHedge/Charles Hugh Smith
Why This Recession Is Different

All of these are structural dynamics that won’t go away in a few months or years.

Let’s explore what’s different now compared to recessions of the past 60 years.

  1. Deglobalization is inflationary. Offshoring production to low-cost countries imported deflation (product prices remained flat or declined) and boosted corporate profits.

Deglobalization will increase costs and pressure profits.

Just as cleaning up the environmental damage of rampant industrialization imposed costs on the U.S. economy in the 1970s that generated stagflation (inflation and stagnant growth), reshoring essential supply chains will impose costs, pushing prices higher.

Everything costs more in developed economies due to their high wages and social costs (pensions, healthcare, disability, etc.), high taxes, strict environmental standards and extensive regulations.

Consumers will pay more as supply chains are onshored / secured.

You can keep reading, here.

MoneyWise via Yahoo Finance/Jing Pan
‘Millions will be wiped out’: Robert Kiyosaki says that the big crash he predicted is here. But right now could also be the perfect time to ‘get richer’ — here’s how

Safe havens are hard to find these days.

Stocks have plunged, Bitcoin is in the doldrums and even the recently hot real estate market seems to be cooling down due to the Fed’s aggressive rate hikes.

While it might be tempting to hide out in cash, Rich Dad Poor Dad author Robert Kiyosaki believes that it could be the ideal time to “get richer.”

In a recent tweet, Kiyosaki explains how he made a fortune by going against the herd during the Great Recession.

“2008 was great time to get rich. Everything went on sale. Borrowed millions of dollars buying real estate bargains,” he writes.

The author has also been calling for a major crash.

Continue reading, here.

Business Insider/Matthew Fox
The stock market is poised for a swift 20% sell-off by mid-October with recession increasingly likely, Guggenheim’s Scott Minerd says

Investors shouldn’t get too excited about the recent rally in stocks as a big decline could be on the horizon, according to Guggenheim chief investment officer Scott Minerd.

In a Thursday tweet, Minerd pointed to poor seasonals and elevated valuations amid a period of high inflation as reason to believe that the S&P 500 could crash 20% by mid-October. Minerd followed up his tweet with an interview on CNBC to further expand on his bearish stock market views.

“It’s really stark to see the price-to-earnings ratio where it is,” Minerd said, highlighting that the current trailing P/E ratio of the S&P 500 is 19x. Since 1960, when core PCE year-over-year was 4%-5%, as it is today, the S&P 500’s P/E ratio traded at 15.2x.

You can keep reading, here.

About the Author

60 Years Experience


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