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- 1 Robert Kiyosaki, an American entrepreneur, denied the Wall Street Journal’s (WJS) report about the strength and strong positioning of the US economy.
- 2 He encourages individuals to invest in Bitcoin, Silver, and Gold stating these are the best investment in the upcoming days.
WSJ released a report stating the growth and stability of the US economy and no connection with the recession. In response to this, Robert Kiyosaki, the author of Rich Dad Poor Dad, blasted the report saying the American economy is completely broken. Instead, Kiyosaki is inspiring individuals to invest in Bitcoin for community welfare. The US economy is standing in the stock market just because of US President, Joe Biden, raising the debt ceiling.
What is the Wall Street Journal Saying About the US Economy?
Wall Street Journal, claimed the rise of the US economy in the recent report.
“The US economy is steering away from the recession and grew around 2.4% in the last quarter” reported WSJ.
According to the report, the gross domestic product of the US increased with an annual rate of 2.4%, which is 2% higher than the first quarter of the year, showing a strong US economy.
The report also analyzed and explained the decline in consumer spending in the second quarter, claiming it a good support to the overall rise of the economy.
Apart from this, the report also discussed the falling of the soft landing from recent records. Soft landing in economics is a slowdown in economic growth that resists recession and played a key role in maintaining a powerful position of the US economy during the recessions.
Also, the report does not mention whether the consumers and businesses are going to spend at the same pace for the rest of the year or not. Wall Street Journal reports simply support high-interest rates that may result in expensiveness of things like appliances, cars, construction projects, etc.
In short, the report justified the statement that the US economy is strong at present and is completely away from the recession.
How did Robert Kiyosaki Defend His Statement?
Robert Kiyosaki, an American entrepreneur on the other hand completely denied the report saying the claims are numb nuts.
“The US economy is completely broken and the stock market is going up only because of Joe Biden, due to raised debt ceiling” stated Robert Kiyosaki
Kiyosaki encouraged the public to invest in Bitcoin, the world’s biggest crypto asset in terms of market capitalization.
“I still prefer Bitcoin, gold, and silver,” says Robert Kiyosaki.
According to Kiyosaki, America’s debt is going high which is the only reason behind the stock market’s success and nothing else. The US economy is completely broken and encouraging people to invest in gold, silver, and Bitcoin.
He considers gold and silver as the best investment and loves Bitcoin because of its decentralized characteristics.
Robert Kiyosaki also stated that around 41 countries including France are ganging up with South Africa to de Dollarize the world. The action will completely break the US economy shortly.
Conclusion
Robert Kiyosaki completely disagreed with the recent report by Wall Street Journal on the US economy’s strengths. According to Robert, the US economy is completely broken and the dollar-centric world is about to end in the near future.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
