Rich Dad Poor Dad author Robert Kiyosaki has shared a very simple way of telling whether an economy is in a recession. “There is a lot of hot air about ‘Are we in a recession or not.’ The answer is simple,” the famous author claimed.
Robert Kiyosaki on How to Tell if We’re in a Recession
The author of Rich Dad Poor Dad, Robert Kiyosaki, has explained how to tell if the economy is in a recession. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Kiyosaki tweeted Thursday:
There is a lot of hot air about ‘Are we in a recession or not.’ The answer is simple. My rich dad said ‘If your neighbor loses his job, the economy is in a recession. You lose job, economy in depression. KISS. Keep It Super Simple. Be an entrepreneur. Never need a job.
The famous author has cautioned about a recession multiple times. In January, he said, “We are in [a] global recession,” warning of soaring bankruptcies, unemployment, and homelessness. Kiyosaki has also voiced concerns about a depression. In February, he predicted that a “giant crash” is coming and a depression is possible.
The renowned author has advised people to buy gold, silver, and bitcoin. He believes that these three investments are the best for “unstable times.” Last week, Kiyosaki stressed that more banks are about to fail.
Many people believe that the U.S. economy is headed for a recession. Economist Steve Hanke recently predicted that an “ugly” recession is looming. Gold bug Peter Schiff expects a “massive” recession and a severe financial crisis. Bank of America is bracing for a mild recession. Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, stated in April that the U.S. economy is heading toward a “severe deflationary recession.” Blackrock CEO Larry Fink, however, sees no major U.S. recession this year.
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