Renowned Author Robert Kiyosaki Foresees Significant Economic Turbulence for the US Following Fitch’s Credit Rating Downgrade.
In a recent statement, Robert Kiyosaki, a prominent best-selling author, has expressed his concern about an impending period of instability in the US economy after credit rating agency Fitch downgraded the nation’s credit rating. Fitch’s decision involved lowering the long-term US rating from “AAA,” symbolizing the lowest anticipation of default risk, to “AA+,” a ranking typically assigned to countries with relatively low default risk expectations.
Fitch attributes this adjustment to the projected deterioration in the nation’s fiscal condition over the upcoming years, coupled with the rapid expansion of government debt. Kiyosaki, renowned for his book “Rich Dad Poor Dad,” interprets this downgrade as a harbinger of challenging times ahead for the US economy.
He remarks, “This is the first shoe to drop. Fitch rating services have downgraded the US credit rating from AAA to AA+. It’s time to prepare for a potential crash landing. I regret delivering this unsettling news, but I have been cautioning about this for over a year. The Federal Reserve, Treasury, and CEOs of major corporations seem to have been overly optimistic. Stay vigilant.”
Just last month, Kiyosaki issued a cautionary prediction, indicating that the US is on the brink of a historic economic downturn. He pointed to numerous indicators suggesting an imminent severe stock market decline, potentially leading to an economic depression.
Given his cautious stance on the economy, the expert in personal finance emphasized his ongoing commitment to investing in tangible assets like gold, silver, and Bitcoin (BTC), which he considers “real money and real assets.”
Notably, Kiyosaki’s track record includes his anticipation of the 2008 financial crisis, albeit with an earlier timeline than its eventual occurrence.
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