Gap between rich and poor is getting wider than the Grand Canyon

Amid his numerous warnings of an economic downfall that he believes could engulf not just the United States but the world, a famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki has recently highlighted the growing gap between social classes.

As it happens, Kiyosaki was discussing the complicated financial situation in recent times with George Gammon, a fellow podcast host and entrepreneur with a background in investing and macroeconomics, for an episode of Kiyosaki’s ‘The Rich Dad Channel’ streamed on February 22.

Specifically, both have agreed that the current state of the world economy, as predicted by the International Monetary Fund (IMF), is about to encounter the biggest financial headwinds since World War II, in addition to sharing some of the most important economic observations.

Rich get richer, poor get poorer

According to Kiyosaki, the rift between the wealthy and the impoverished is stretching larger, as the rich get richer and the poor get poorer, which he believes became particularly pronounced since 2022, comparing the situation with one of the largest and deepest ravines on the planet.

“What I’ve found overall, ‘cause you know, my whole fascination is why are some people rich and why are some people poor, that in 2022, the gap between rich and poor is now accelerating. It’s getting wider than the Great Canyon.”

As the ‘Rich Dad Poor Dad’ author explained, often it is not the fault of the poor for getting poorer, but their teachers and parents, who themselves are “poor or they come from a poor background,” including his own parents who are “all school teachers who think, you got a PhD, that’s all you need.”

Notably, Kiyosaki earlier pointed out that it was this kind of stupidity and lack of financial education that represents the biggest threat to the US, arguing that teachers were only bureaucrats who lacked the competence to teach their students about finances and the economy.

Rising oil prices

In the interview with Gammon, he also voiced his opinion that the problem becomes even more complicated with the rising prices of oil, which in turn causes higher fuel prices and higher food prices, which he believes “is going to wipe out the poor and middle class.”

As a reminder, in April last year, Kiyosaki observed that the rising oil costs and the government’s push towards green energy policies would ultimately result in rampant inflation, which will have deadly consequences and potentially eliminate the middle class, emphasizing oil’s crucial role in powering the society.

In the meantime, the finance educator has long advised his followers to stock up on assets that they could trust, such as precious metals gold and silver, and the flagship decentralized finance (DeFi) asset Bitcoin (BTC), the latter of which he believes could reach the price of $100,000 by June 2024.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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