Robert Kiyosaki Warns of Imminent US Stock Market Crash
Date: 2024-02-04 Author: Dima Zakharov Categories: BUSINESS
In a recent tweet, Robert Kiyosaki expressed concern about the current bullish trends in major stock indices. Over the last 24 hours, the Dow Jones Industrial Average, Nasdaq Composite Index, and S&P 500 Index have shown significant growth, with the S&P 500 reaching a new all-time high.
While strong corporate earnings and a more optimistic than expected January employment report suggest market strength, Kiyosaki believes that economic realities are far worse than they appear.
He refers to the ongoing stock market surge as the "Magnificent Seven," a group of major companies including Apple, Alphabet, Meta Platforms, Amazon, Microsoft, NVIDIA, and Tesla, which he believes are artificially propped up by government financing.
Kiyosaki's cautious stance extends beyond the stock market, as he predicts an inevitable crash in both stock and bond markets.
Users on Russia's banned social network X have questioned the words of the famous investor and recalled his previous predictions over the past couple of years, many of which did not come true.
Nevertheless, Kiyosaki remains steadfast in his convictions, insisting on deteriorating wealth due to inflation, taxation, and stock price manipulation, which he attributes to the detrimental policies of authorities.
According to Kiyosaki, Bitcoin serves as a hedge against wealth loss provoked by the Federal Reserve, the Treasury Secretary, and Wall Street bankers. Based on this, he strongly urges the investment community to acquire Bitcoin now, as its price could reach $150,000 this year.
