High-profile financial experts, including “Rich Dad Poor Dad” author Robert Kiyosaki and legendary investor Stanley Druckenmiller, have expressed concerns about rising unfunded liabilities in the United States, painting a bleak picture of the country’s financial health.
In the world of finance and investment, prominent figures have expressed concern about the looming economic crisis in the United States, citing the huge rise in unfunded liabilities that have exceeded $250 trillion as a major red flag.
Among these influencers is Robert Kiyosaki, best known for authoring “Rich Dad Poor Dad,” who recently declared the United States in bankruptcy.
Kiyosaki takes his concerns to his core 2.4 million Twitter followers. He advises them to protect their wealth in safe-haven asset classes such as gold, silver and bitcoin (BTC), citing escalating costs that the US government has not yet funded. This represents possible economic difficulties in the near future.
Kiyosaki critically views the ongoing political discussions about raising the US debt limit, which currently stands at $30 trillion, as an exercise in futility. The financial writer highlights the huge value of “derivative assets” in the financial markets, estimated at thousands of trillions or billions, which confirms the country’s unstable financial situation.
Earlier, Kiyosaki predicted an economic slowdown as a result of the Federal Reserve’s decisions to raise interest rates since last March, a measure taken to curb inflation. He points the finger at the Fed’s aggressive monetary policies for causing the collapse of regional banks, and predicts more collapses.
Kiyosaki constantly stresses the importance of gold, silver, and bitcoin as valuable hedging tools in potential downturns. In April, he even predicted a rise in the value of Bitcoin, predicting a future price of $100,000 and beyond.
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Echoing Kiyosaki’s sentiments, famed investor Stanley Druckenmiller also expressed concern about America’s financial predicament. Druckenmiller asserts that the increasing debt obligations and costs could force the government to make drastic cuts in social service programs, including Social Security and Medicare.
During a recent keynote address, Druckenmiller highlighted the seriousness of the situation, noting that when considering the government’s future liabilities to senior citizens, the US debt is nearly $200 trillion, much higher than the national debt currently estimated at 31.7. Trillion dollars. .
Druckenmiller advocates immediate curtailment of social programs by the government to mitigate a worse economic situation in the future. He strongly believes that reducing entitlements is not an option, but an imminent necessity to prevent further crackdowns in the future.