‘The price is hard to swallow’: Robert Kiyosaki cringes as he pays $14 for an egg salad sandwich, warns of ‘everything bubble’ and ‘major stock market crash.’ What he likes for protection
Inflation has slowed in the U.S., but that doesn’t mean prices have dropped — they’re just not climbing as quickly as they were in 2022.
Prices remain so high that even Robert Kiyosaki, author of “Rich Dad, Poor Dad,” is feeling the squeeze.
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“I just purchased an egg salad sandwich for my dinner in Waikiki. Price $14.00,” he shared in a post on X. “I can afford $14 yet the price still is hard to swallow.”
With an estimated net worth of $100 million, Kiyosaki’s surprise at the cost of a simple sandwich underscores the high cost of living many are facing today.
In the same post on X, Kiyosaki expanded on the issue:
“THE EVERYTHING BUBBLE I wrote about in my last two tweets has caused millions of Millennials, Gen X and Gen Zs… even a few Baby Boomers[…] to claim they cannot afford a house, or have kids, or live at the same standard of living as their parents.”
Kiyosaki expressed empathy for younger generations, noting that he grew up with similar doubts. Yet, with “real estate and the cost of living so high in Hawaii,” he also wonders how “young people today… survive.”
The cost of living crisis isn’t limited to Hawaii. Across the U.S., inflation continues to bite. Since the beginning of 2020, the consumer price index has increased by 22%.
Kiyosaki’s concerns about inflation go beyond just rising consumer prices — he’s also warning of a major market downturn.
He describes how “The Everything Bubble” formed in the past.
“In 2008 was the GFC the Great Financial Crisis. The criminals at the Fed and Treasury began printing trillions of fake dollars in an attempt to stop a GFD a.k.a….a Global ‘F-ing’ Depression,” he wrote on X. “The 2008 GFC blew up into ‘The Everything Bubble.’ All markets began to rise… floating on a sea of fake money.”
In short, Kiyosaki believes that excessive money printing fueled the bubble by inflating asset prices across the board.
Now, he predicts even more serious consequences.
“What I am attempting to say is ‘The Everything Bubble’ is going to turn into ‘The Everything Crash,’” he predicts, vividly comparing the impending collapse to “Mt. Vesuvius blowing up.”
In recent years, the U.S. stock market has experienced a remarkable rally, with the Dow, S&P 500 and Nasdaq all hitting new highs.
However, Kiyosaki points out that savvy investors are already offloading overpriced assets and moving into cash.
He highlighted Warren Buffett, whose company, Berkshire Hathaway, has sold a significant portion of its Apple shares this year. “Warren Buffett is selling even his Apple shares and sitting on stacks of cash,” Kiyosaki noted.
So, how do you navigate the bubble and the impending crash? Kiyosaki points to three key assets.
“If a major stock market crash occurs… Which I am expecting… Because the stock market has been high for too many years… This is not good news for people who do NOT own gold, silver, and Bitcoin,” he warned on X.
This isn’t the first time Kiyosaki has promoted these assets. His confidence in them remains strong, as he boldly declared that “Bitcoin, gold, silver prices [are] about to EXPLODE.”
Gold and silver have long been considered popular hedges against inflation. The reason is straightforward: these precious metals can’t be printed in unlimited quantities by central banks like fiat money.
And because their value isn’t tied to any one currency or economy, these metals could provide protection during periods of economic uncertainty.
In October 2023, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop: gold $3,700.”
It seems the first part of his prediction is materializing. Gold prices have surged in 2024, now hovering around $2,750 per ounce.
Kiyosaki is also bullish on silver, recently telling his followers on X that the “BEST ASSET TODAY: Silver… buy it before it hits $50.00.”
With silver currently trading at $34.40, his target suggests a potential 45% upside for the metal.
These days, there are many ways to gain exposure to gold and silver. You can own bullion, buy shares of precious metals mining companies or ETFs, or even tap into potential tax advantages with a gold IRA.
Bitcoin is another hot asset in 2024, having surged about 60% year-to-date.
While some see Bitcoin as the new gold, Kiyosaki doesn’t dwell on comparisons between the two. “It really matters little which is better, gold or Bitcoin. That would [be] like people discussing which car is better… Ferrari or Lamborghini… as they take the bus,” he wrote.
However, Bitcoin’s volatility is something Kiyosaki acknowledges. He warns that the cryptocurrency could crash to $5,000 before surging to $100,000, $250,000, or even higher.
Still, Kiyosaki paints a clear picture of the future for those who own these assets.
“Those who own real gold, silver, and Bitcoin will get richer… able to afford Ferraris or Lamborghinis… while talkers who take the bus… say to themselves… ‘I really do not like either Ferraris or Lamborghinis,’” he quipped.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
