The investor spoke of a possible drop in economic activity due to the increase in prices
Robert Kiyosaki, a renowned American businessman, investor and writer, author of the finance bestseller ‘Rich Dad, Poor Dad’, assured that the US markets and the dollar will soon collapse, due to the increase in oil prices, energy And food.
This would cause a recession in the United States, that is, a significant drop in the country’s economic activity.
Kiyosaki, in an interview with Daniela Cambone, from the Stansberry Research publishing house, said that the increase in inflation has become a serious problem that is getting worse and worse, which is why he predicted that the recession in the United States is coming.
“40% of Americans don’t have a thousand dollars. So when inflation goes up we’re going to wipe out 50% of the American population, and that’s when the revolution starts,” he said.
He added that “America doesn’t produce anything anymore. We produce bubbles. We just make air bubbles, so now we have this bubble in real estate, stocks and bonds. Then when Biden took down the Keystone XL pipeline, that killed us.” to sink”.
It should be clarified that, according to the Spanish newspaper ‘El País’, in June 2021 Biden put an end to the Keystone XL project, which was planned to send crude oil from the Canadian province of Alberta to US refineries. His decision was celebrated by environmental activists, but strongly criticized by some economists and by members of the Canadian government.
“When Biden pulled America out of the pipeline, oil prices went up. Oil makes fertilizer, and when fertilizer stops being cheap, people can’t grow food, and the average American has nothing,” he said.
“40% of Americans have nothing, inflation is going to make them very upset. A stock market crash will bring down the baby boomers, so we’re in serious, serious trouble,” he stressed.
The writer also emphasized that if the stock market crashes, the 401k (the retirement plan) will fail, and pensions will be unaffordable.
It should be noted that to this is added the impact on the economy due to the war in Ukraine. In fact, Biden recently ordered the release of a million barrels of oil a day for the next six months, a record amount with which he hopes to curb the rise in gasoline prices caused by the Russian invasion.
