On the latest episode of the Rich Dad radio show posted Dec. 7, Robert Kiyosaki and his guest Jim Rickards discussed the factors threatening the global economy. The author of “ Rich dad, poor dad » and his guest reflected on the current state of the global economy. Kiyosaki says the economy is currently in the biggest bubble in world history. They then identified three major factors that could lead to an economic collapse in the future.
The supply chain failure
Kiyosaki and Rickards first identified the supply chain disruption as factor threatening the global economy. Robert Kiyosaki points out that the failing supply chain system is peaking. Rickards adds that this chain is the basis of the economy, not being steerable due to the high level of complexity involved. He said the supply chain is not part of the economy, but is the economy.
The rise in inflation
The two authors explained that the supply chain is linked to the monetary economy which can feel the effects of rising inflation. The economic situation could worsen if the current inflation turns into a depression. This could then lead to a possible liquidity crisis. Robert Kiyosaki said rising inflation could wipe out about 50% of the US population. This is how he advocated the accumulation of precious metals such as gold and silver which are more resistant to the crash, according to him. He also remains bullish on cryptos, especially bitcoin.
political instability
Finally, Robert Kiyosaki and Rickards identified political instability as a significant threat to the economy. The supply chain is vulnerable to political instability in states. In this sense, Rickards distinguished the conflict between the United States and China for control of the world economy. This is a major factor that could define the future. He said a mutual effort between the two countries to separate would lead to resilience. This calls for a compromise between China and the United States, which will have to choose their partners.
In a general way, ” rich dad » believes that the signs of economic collapse are already visible.
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