When Pessimism Prevails, It's Time to Get Rich
If you're serious about getting rich, now is the time. We've entered a period of mass-produced pessimism, when bad news is everywhere, and the best time to invest is when optimists become pessimists.
Robert Kiyosaki Was Correct in his Prediction of U.S Economy.
In 2002 a book written by Robert Kiyosaki entitled, Prophecy: Why the Biggest Sock Market Crash In History Is Still Comming… and How You can Prepare Yourself and Profit from it!
This book was written by Robert Kiyosaki author of the best seller Rich Dad Poor Dad. He talks about in this book (written in 2002), about the economic events that are happening now in 2008. I read this book in 2004 and was not sure if I believed all of it, but I kept the ideas back in my mind. From that point on I have been diligently studying economic trends, with a strong concentration in real estate cycles. The main point of the book is that in 2002 he saw the stock market crashing, like it is doing today (2008), and he provides reason for this market crash and he also discusses what practical things people need to start doing to prepare for this collapse in the economy.
In 2002 he made the following predictions in
his book that you might consider:
1. Millions will be left destitute in old age.
2. Medical care will get even more expensive.
3. Terrorism will increase.
4. Japan, currently the world’s second largest economy, is on the brink of financial collapse and depression.
5. China will become the world’s largest economy.
6. The world population will continue to age.
With that said, this blogs intention was to reiterate some of the previous blogs I’ve been posting about the split between the Rich and Poor in America, and the U.S economic collapse. I have a quote from Robert Kiyosaki’s from this book Prophecy , in his own words:
“One thing is for certain, he gap between the haves and have-nots in America and the world will definitely widen. Those who move with these global changes will become richer than ever before.”
-Robert Kiyosaki
The American economy may be heading out of the woods with new government numbers showing signs of easing recession laying the groundwork for growth in the months ahead. But the job market still remains weak with working people haunted by fear of layoffs.
A Commerce Department report on gross domestic product (GDP) Friday shows America’s steep economic downturn eased in the spring, with economic output shrinking at a 1 percent annual rate in the April-through-June period.
That compares with a 6.4 percent rate of decline at the beginning of the year, itself a downward revision from the 5.5 percent decline originally reported for the first quarter.
The improvement came about in part due to an 11 percent boost in federal government spending, along with a more modest decline in exports, down 7 percent, compared with a 30 percent drop in the first quarter.
But the report also points to one of the key threats to expansion as it shows that consumers, who account for about two-thirds of economic activity, are still in lockdown mode, reluctant to make purchases.
The job market remains weak, and even those who still have work are fearful of layoffs and stung by lost stock market and housing wealth. The situation is underscored by a 1.2 percent drop in personal consumption expenditures in the second quarter, which occurred despite a tax cut.
New revisions to past data indicate that the economic output was weaker throughout the recession of the past 19 months than originally reported.
The Commerce Department had previously estimated that GDP, which captures the value of goods and services produced within US borders, rose 1.1 percent in 2008. That was revised down to 0.4 percent.
Meanwhile, the International Monetary Fund said Friday the sharp contraction in the US economy “seems to be ending” but recovery will be slow with risks still looming from the weak labor and housing markets
In its annual report on the US economy prepared before release of US data, The IMF stuck to earlier forecasts that gross domestic product will shrink by 2.6 percent in 2009 and then rise by 0.8 percent in 2010.
“As a result of their increasingly strong and comprehensive policy measures, the sharp fall in economic output seems to be ending, and confidence in financial stability has strengthened,” it said.
“Nevertheless, with financial strains still elevated, the recovery is likely to be gradual, and risks are tilted to the downside,” it said.
Name : Robert Toru Kiyosaki
Birth Date : April 8, 1947
Birth place : Hawaii
Race : Japanese-American
Occupation : Educator,Investor,Businessman,Inventor, Author
School : Hilo High School, U.S Merchant Marine Academy
Robert T.Kiyosaki born and raised in Hawaii. After finishing his secondary at Hilo High school, he attended tertiary at New York U.S. Merchant Marine Academy. In January 1972, he worked as helicopter gun pilot in Vietnam War. His task was to protect troop transport helicopter from enemy. Later he served as top-secret information officer which helped to interpret the information during the war.
After returning from Vietnam War, he choose to work as a salesman for Xerox printing and photocopying company instead of as pilot which offer him higher salary initially compare to a salesman. He listen to his rich dad advice that in order to be rich, he need to learn how to sell first. He choose Xerox because training is provided.
In 1977, he quit the job after he manage to become a top salesman. He started his nylon and Velcro wallet business. He did well in the nylon business but facing serious pirated version of nylon wallet. He didn’t patent and make trademark for his business and in the end he folded up.
The failure did not make him give up to become rich. In 1981, he rebuild his business with trademark this time. A brand is given to the wallet produced. He solved the problem of pirated producer by giving license to them to produce for him instead of going against them.
After 3 years, he sold his share of the rock and roll nylon business to his partners. He and his wife, Kim started a business education company. They successfully built a multinational business education company. In 1994, Kim and Robert sell the business and retired with enough passive income to support their life.
After 2 years of retired, they felt bored and therefore invented Cashflow board game which brought financial education. This is followed by Rich Dad Poor Dad in 1997 with self-publish. We all get to know him through this book which hit the best seller in Wall Street Journal, USA Today and New York Times simultaneously. There are still many books produced by him under Rich Dad series hit best seller.
Currently I am following Increase Your Financial IQ by Robert T.Kiyosaki. Some of his fans said that his books are repetitive which I agreed too. You can find that he keep on repeat the same thing in one or another books. Maybe this is due to his frequent publishing new books. In his books, he mention that when he need money, he will publish a book. This is the only thing that I dislike from him.
Robert T.Kiyosaki has his own way of money investment and money management which I can accept and understand. Many readers critic that his books are not realistic, no step by step guidance. Well, I don’t care. Every times I finish his books, my financial knowledge increase and perception towards money changed. I satisfy with the increment. I like his way of delivering simple and easy understanding message to his readers. Undeniable, this make him a best selling author.
The latest is The Conspiracy of The Rich
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