A prominent figure in the financial sector has raised concerns about the “grave” financial challenges facing the nation. This renowned individual, known for accurately predicting the collapse of Lehman Brothers in 2008, is cautioning against the detrimental impact of the Democratic President Joe Biden’s economic policies, which he believes are leading the United States towards an impending collapse.
“I hate to say this because, you know I love America,” Rich Dad Company co-founder Robert Kiyosaki said during a recent appearance on “Cavuto: Coast to Coast.”
“But America is in serious trouble financially because of the debt load.”
Kiyosaki further elaborated on the matter, stating that the Biden administration is plunging the United States into an insurmountable amount of debt. He draws a comparison between Biden and his economic officials to the iconic slapstick trio known as “The Three Stooges.”
“I think the biggest problem, Neil, is we have the Three Stooges, you know, one in the presidency, one in the Treasury, and one at the Fed,” he continued when discussing his outlook on the country’s economic standing.
“America is broke right now,” Kiyosaki told host Neil Cavuto.
In September, the U.S. national debt reached an unprecedented milestone, surpassing $33 trillion for the very first time. This significant figure was achieved amidst ongoing scrutiny over government spending. Presently, the national debt stands at nearly $34 trillion, further highlighting the magnitude of this financial burden.
“All you do is look at history,” he stressed.
“Every time they printed money, the empire went down.”
Kiyosaki further warned that the Government will keep printing money unless they “cut back on entitlements or the military.”
“We just keep printing money to solve our problems, but we can’t go on much longer,” he warned.
According to a recent survey conducted by Fox News, only 29% of Americans believe that the economy has begun to improve. In contrast, a significant majority of 67% believe that the worst is still ahead of us. With the 2024 presidential election approaching, it is noteworthy that inflation remains the primary concern for voters.
“I hate to say this, but inflation is here to stay,” Kiyosaki expressed.
“Incompetence is here to stay.”