After the American business and economic-focused daily newspaper, Wall Street Journal (WSJ), ran an article in which the authors stated that the economy in the United States was strong, Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has viciously attacked these claims.
Indeed, Kiyosaki called the article’s authors “numb nuts,” stressing that “America is broke,” and the stock market was only up because US President Joe “Biden raised [the] debt ceiling,” reiterating his support for gold, silver, and Bitcoin (BTC) in a tweet he posted on July 31.
WSJ: No recession in the US
Specifically, the article to which the well-known investor was referring is ‘U.S. Economic Growth Accelerates, Defying Slowdown Expectations’ published on July 27, in which the authors argue that the US economy had grown 2.4% in the second quarter of 2023, suggesting the US was “steering clear of recession.” According to the WSJ:
“As inflation falls from historic highs and the labor market remains strong, solid growth adds to the prospect of a soft landing—in which inflation returns close to the Federal Reserve’s 2% target without a recession.”
Furthermore, the WSJ reports that the economy has grown “at better than a 2% pace over the past year, following a mild contraction in early 2022,” as well as that this growth was “roughly in line” with the rate in the decade before the pandemic took hold.
Kiyosaki: US economy on the rocks
Meanwhile, the finance educator has long been warning of the impending doom of the US economy and its deadly consequences, particularly as the BRICS (Brazil, Russia, India, China, and South Africa) and other countries gang up against the “big playground bully,” and the US dollar loses its domination and position as the reserve currency of the world, flooding back to America.
Earlier, Kiyosaki had also voiced his opinion that the current government was not working in the people’s interest, calling the Federal Reserve and other parts of the government “the Adams family” and “cartoons killing the economy,” which is in “serious trouble,”
As for Bitcoin, the flagship decentralized finance (DeFi) asset, the author has long advised his followers to invest in it and projected it would reach the price of $120,000 in 2024, as the “US currency will die” and “trillions of US $” will rush home, as Finbold reported on July 11.
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Source: https://finbold.com/robert-kiyosaki-destroys-wsjs-economy-claims-why-hes-all-in-on-bitcoin/