R. Kiyosaki predicts California’s economic collapse to trigger nationwide crisis
As he continues to warn about the nationwide crisis that he believes is about to sweep the United States, Robert Kiyosaki has predicted that the collapse will begin in California for a number of reasons and then spread across the rest of the country, with other states to follow.
Specifically, the popular investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ has referred to California as a “bell-weather [sic] state,” explaining that it means “what happens in California happens to the rest of the US,” according to his X post on July 30.
Indeed, Kiyosaki was referring to the term “bellwether,” which the Cambridge dictionary defines as a “particular event, result, etc. that usually shows how a more general situation will develop or change” or “something that shows what the general future of changes or developments will probably be.”
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crisis">California = bellwether of national crisis?
As it happens, he believes that California, as the bellwether for the rest of the U.S., “is going broke” and “will begin raising taxes and cutting subsidies to the poor, to prisons, environmental problems, and teachers unions” as well as the police, which means “crime will spread,” and he added that:
“Since California is a Bell Weather state and is going broke, which states will follow? Is it time for you to move? I moved.”
Meanwhile, the finance educator generally blames the current administration in the U.S., particularly President Joe Biden and the Democratic Party, for the country’s economic demise, supporting instead the Republican presidential hopeful and his personal friend Donald Trump.
Donald Trump Bitcoin endorsement
Particularly, he has recently referred to Trump as a “financially brilliant man” after the former President openly endorsed Bitcoin (BTC) and silver as “smart money” at the Bitcoin 2024 conference, which prompted Kiyosaki to list Bitcoin, silver, and gold, as top assets to escape the “counterfeit” fiat money trap.
As a reminder, the former U.S. President’s speech triggered optimism and bullish sentiment in the cryptocurrency community, with the social sentiment around the flagship decentralized finance (DeFi) asset rising to its highest level in 16 months, as Finbold reported on July 28.
However, the price of Bitcoin, which comprises a part of Robert Kiyosaki net worth, has started to retrace recently, losing 3.79% in the last 24 hours, albeit recording a 0.32% gain across the previous seven days and an accumulated increase of 8.85% in the past month, currently trading at $66.865.
Featured image via Kitco YouTube
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