The Dangerous Advice of Robert Kiyosaki (Rich Dad, Poor Dad)

twitter.com

4 points·nunodonato··6 comments

Pull the Fed's COVID stimulus out of the market and the market - perhaps the entire ecomomy - wouldn't be anywhere where it is now. I'm not necessarily sticking up for Kiyosaki - I haven't read his book - but what the Fed did was unprecedented, if not incomprehensible. We're still sorting out the effects.

The point is, perhaps Kiyosaki is right (enough) and has been right (enough) but the Fed keeps kicking the can, moving the target, etc. You can only prop up a dead body for so long before the decay and smell set in.

You have to factor the government into your predictions. If the Fed will never allow a massive crash then don't predict one.

First, technically The Fed is not the government.

Second, you're critical of the predictions, and the reckless Fed gets a free pass on devaluing your dollars (i.e., inflation)?

It might be time to zoom out and revisit priorities.

This is a mistake that I've made several times. (I predicted Bitcoin would go to zero!) If you disagree with a particular policy you can't let that color your predictions. Most people simply can't do this. You can refuse to invest in things that you find harmful but if the entire economy is rigged most people can't refuse to participate in it.

RK has been wrong about timing, only because there have been unprecedented "counter measures" by The Fed. Tbose things can't continue forever. Once unprecedent stop we'll see all that crap the smoke & mirrors have been hiding.

I read one of his books years ago and had to put it down when he said if you run a company and it runs out of money, "pay yourself first" (before your employees). Yuck. No.

Reply on news.ycombinator.com