The trajectory of the economy is difficult to predict given the uncertainty surrounding the sum of its parts. Author of “Rich Dad Poor Dad” Robert Kiyosaki His recent comments seem to be in the pessimistic camp.
what happened: “Huge crash coming. Possible depression,” Kiyosaki tweeted late Sunday. I’m here.
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Inflation concerns and some mixed earnings reports put the brakes on this year’s market rally in the week ending February 10. A recession is the more severe form of recession and is defined as two consecutive quarters of negative GDP growth.
The best-selling author’s comments are based on a consensus view of the short-term economic trajectory and may be a bit of a stretch. Despite multiple overhangs, the US economy is still holding up. The job market is particularly vibrant. The January nonfarm payrolls report showed the US economy added 517,000 jobs to her, with the unemployment rate at her 3.4%, the lowest in his 53 years.
That said, inflation will continue to push back. As price pressures remain at unfavorable levels, federal reserve under Jerome Powell I can’t take my foot off the pedal. Hence, the outlook is for a longer and larger rate hike staring at the economy.
Most economists guarantee some form of recession later this year as the Fed’s expansionary policy rolls back. Attendees at a recent panel discussion hosted by the University of Chicago Booth School of Business were calm towards the end of the year, given that the Fed has more than enough tools to keep the situation from spiraling out of control. He suggested that there would be a severe recession.
Avoid the dollar and throw weight behind the three assets. Against this dark background, Kiyosaki continued to support gold, silver, and gold. Bitcoin Bitcoin/USD.
Giving his rationale, he said trust in the US dollar, which he called “fake money,” would be destroyed. Gold and silver are US dollar denominated precious metals and are inversely related to the dollar. This means that the dollar has lost its appeal in favor of decentralized alternatives such as Bitcoin.
Kiyosaki called gold and silver “God’s money” and Bitcoin the people’s dollar. By 2025, we expect gold to rise to $5,000, silver to $500, and Bitcoin to $500,000.
Spot gold is currently trading at $1,858.61 per ounce, spot silver at $21.86 per ounce and Bitcoin at $21,864.35.
Price action: of SPDR Gold Share GLDMore It ended Friday’s session higher by 0.19% at $173.36. iShares Silver Trust SLVs According to Benzinga Pro data, it rose 0.30% to $20.24. In Monday’s Asian session, Bitcoin rose 0.20% to $21,855.79.
Photo: Courtesy of Wikimedia Commons
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