From this mornings SMH Businessman and investor Robert Kiyosaki is coming to Australia. He predicts another crash in 2016. Robert Kiyosaki says to prepare for the worst EVE FISHER Robert Kiyosaki is your seminal entrepreneur. He found huge success self-publishing the best-selling book Rich Dad Poor Dad and made millions establishing financial literacy programs to help others make their fortunes. Add to that his real estate ventures, further books and investments, and it's easy to see living proof of someone who practises what he preaches. Now his focus is on something he says is far more dire. Kiyosaki is coming to Melbourne and Sydney for a series of seminars focusing on his predictions in his book Rich Dad Prophecy that we're headed for a global crash of mammoth proportions ... and what people can do to protect themselves. "The world is in very serious trouble and the next 20 years will not be like the past two decades," says Kiyosaki, who predicted the downfall of Lehman Brothers investment bank in 2008 and the ensuing GFC. "I foresee a global currency crash, like the one that ruined Germany in the 1920s, which will wipe out the poor and the middle class as the rich get richer. "People will see that money and shares are not real wealth, just paper, and the way to survive is by acquiring assets like property, resources, gold and other precious metals." Farmers will benefit as land and food become highly valued commodities, he says, adding that Australia is indeed a lucky country. "Thank goodness you live in Australia," he says, insisting predictions of a doomsday crash are accurate. Kiyosaki spoke to Fairfax Media about his desire to help people not only protect themselves before any crisis (he predicts it will happen in 2016), but also enjoy the freedom he created for himself and has enjoyed for decades. The money never came easily he has worked hard, been bankrupt and experienced other setbacks but he refused to give up his dream of financial freedom. "The biggest mistake people make is they want to get into business so they don't have to work hard," Kiyosaki says. "I've failed many times in my life. Failing is how you learn. In the real world the person who makes mistakes wins. "Procrastination is part of the process. Get inspired and man up." Kiyosaki is reticent to say exactly how people should get themselves out of the "rat race" and become entrepreneurs but he is adamant people should not give up their day job until their side project has a real footing in the market. "It's a world of unlimited possibilities; it's going to be frightening at the same time." Exactly what those possibilities are is in the eye of the beholder. It's a matter of finding a niche, he says, and seeing the demand in something marketable. "The reality is that there is more opportunity now than ever with the web," he says. "[It] makes everyone accessible to the masses. "You need to look at a problem people have and ask yourself 'How can I solve it?'. "When I saw people not knowing about money I wrote Rich Dad Poor Dad. "Everyone has a different skill set." Kiyosaki's words would no doubt be hard to digest for the unemployed but he is unwavering when he says the time to act is now. "There are fewer and fewer jobs as technology replaces people," he says. "The worker is becoming obsolete. "The rich don't want jobs that's why they're rich. "Never want a pay cheque. The person who signs the cheque controls you." Kiyosaki is in Sydney on December 1 and Melbourne on December 2. mastersofwealth.com.au
Pumptart has roughly predicted a crash every year since the GFC. He'll be hailed a genius when he snags it
To be fair to RK he's been predicting the 2016 date in his books as the crash catalyst for over 10 years. From what I understand from reading his books he's basing his 'prophecy' on the baby boomer demographics. In the US there's apparently a compulsory draw down of their stock market leveraged 401k (superannuation fund) when retirees hit a certain age. The first wave of the big baby boomer 401k draw down is 2016. So RK basically says that there will be a crash because of this stock market sell off. Whether he's right or not, time will tell, but he's been encouraging people to build their 'financial arc' for a long time now.
I posted this thread as it was in the MSM, not one of the blogs or publications I normally read. I sometimes mention my fears of another GFC to my friends to be met by blank stares. I wonder if any of them will take heed of these warnings?
