The Rich Dad Poor Dad author, Robert Kiyosaki has been in the news lately for saying that a major crash is coming to the real estate market and the stock market due to the debt crisis of China’s largest property developer, the Evergrande Group.
The Chinese developer owes $300 billion in outstanding loans, and their property portfolio looks overvalued to him.
In a Tweet last week, he told his 1.7 million Twitter followers that he expects a massive crash in the near future.
“HOUSE of CARDs coming down. Real estate crashing with the stock market,” Kiyosaki tweeted. “China’s Evergrande Group cannot pay. Valuation of properties fake. Will real estate crash spread to US? Yes,” he said.
“Stocks dangerous. Careful,” he warned in the tweet.
“Giant stock market crash coming October. Why? Treasury and Fed short of T-bills,” said Kiyosaki.
“Gold, silver, Bitcoin may crash too. Cash best for picking up bargains after crash,” he added.
He also told Kitco News last week that this “is going to be the biggest crash in world history.
Kiyosaki has been sounding the alarm for several months now like in June when he tweeted;
“Biggest bubble in world history getting bigger. Biggest crash in the world history coming.”
Moe Bedard is the founder and lead mortgage analyst for LoanSafe.org. Since 2007, LoanSafe has helped over 2 million consumers with solutions to their mortgage problems and has been featured in the New York Times, LA Times, Fox Business, and many other media publications.