The renowned investor has been vocal on Twitter recently and highlighted on April 13 that the similarities he forecasted in his book the ‘Capitalist Manifesto’ are coming to fruition under the current government. The businessman added: On the matter of the Federal Reserve printing trillions of dollars of “fake money,” Kiyosaki has previously warned that this effect on the economy is ramping up inflation something the businessman fears could “wipe out 50% of the U.S. population.” Note this is not the first time the well-known author has blamed Joe Biden for inflation, warning about the impending demise of the United States currency, and stating that the US is living in the largest bubble in history with a “crash and depression coming” as fake inflation accelerates.
Kiyosaki predicts a stock market collapse
Furthermore, he said 401(k)s and pensions would fail if and when the stock market crashes. While taking the U.S. off of the pipeline has had a negative impact on food prices, he observed. Notably, US inflation climbed to 8.5% in March, the highest rate since 1981. The ongoing conflict in Ukraine is driving higher energy prices, while data reinforce projections. It is expected that the Federal Reserve will hike interest rates next month. Earlier this month, the Consumer Price Index (CPI), which monitors the costs of a basket of goods and services, showed that the index had risen by 7.9% in the year through February, marking the highest rate of annual inflation in 40 years. Inflation in the United States has reached levels not seen since Ronald Reagan took over as president from Jimmy Carter in 1981, fueled by persisting supply chain issues, increasing demand, and rising energy costs. The price hikes are widespread – with the cost of rent, petrol, and food creating particular difficulty for lower-income Americans – and constitute a huge setback for the Biden administration, which is already facing long odds of keeping control of Congress in November’s midterm elections.
