Rich Dad Author Says The Next Financial Crash Will be Like an "Avalanche"

For bestselling author Robert Kiyosaki, crashes, debt and taxes are the secret to how the rich are getting richer, so is 2018 setup to deliver?"I hope so," said Kiyosaki the author of Rich Dad, Poor Dad and his latest, How the Rich are Getting Richer. And with the stock market continuing to hit all-time highs, Kiyosaki said the next financial crash is "imminent," simply because "something has to happen." "Since 2004 we have been in a debt bubble and the problem with debt bubbles is that when they come down, they come down like an avalanche so I don't think it's too long [away.] I'm not trying to be an alarmist because I like crashes, it's like going into Wal-Mart and they are having a 50% off sale, so when everything goes on sale I am back int he market," Kiyosaki said. Should a financial correction occur, Kiyosaki said he is well covered with his gold holdings which he has been accumulating since 1972, "I have more gold then I can ever spend in my lifetime," he said. On Friday, stocks rose to record highs with their best start since 2003, the Dow Jones industrial average rose 197 points to an all-time high and the S&P 500 reached a record high, climbing 0.6 percent. (show less)

For bestselling author Robert Kiyosaki, crashes, debt and taxes are the secret to how the rich are getting richer, so is 2018 setup to deliver?"I hope so," said Kiyosaki the author of Rich Dad, Poor Dad and his latest, How the Rich are Getting Richer. And with the stock market continuing to hit all-time highs, Kiyosaki said the next financial crash is "imminent," simply because "something has to happen." "Since 2004 we have been in a debt bubble and the problem ... (read more)

Daniela Cambone

Daniela Cambone

Editor-in-Chief

Biography
With over a decade of international experience, Daniela Cambone covers prominent industry events and interviews a number of leading analysts, financiers and political leaders for Kitco News. She began her career covering the Canadian financial and insurance industry and later worked in Europe covering the political and financial scene for the International television station, Press TV. Daniela holds a BA in Broadcast Journalism and an MA in Journalism & Communications.

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