High-profile financial specialists, including “Rich Dad Poor Dad” author Robert Kiyosaki and legendary investor Stanley Druckenmiller, have expressed concerns over the burgeoning unfunded liabilities in the United States, painting a grim image of the country’s fiscal health.
In the world of finance and investment, prominent figures have voiced their concern over the looming economic crisis in the United States, citing skyrocketing unfunded liabilities surpassing $250 trillion as a major red flag.
Between these influencers is Robert Kiyosaki, renowned for authoring “Rich Dad Poor Dad,” who has recently declared the United States to be in a state of bankruptcy.
Kiyosaki communicates his apprehension to his substantial following of 2.4 Million Twitter users. He advises them to safeguard their wealth in secure investment classes such as gold, silver, and Bitcoin (BTC) (BTC), citing escalating costs that the United States Government has not is still funded. This presents potential economic difficulties in the near future.
Kiyosaki critically views the ongoing political discussions surrounding the raising of the United States debt limit, which as of now stands at $30 trillion, as an exercise in futility. The financial writer outlines the enormous value of financial market ‘derivative assets,’ quantified in thousands of trillions or quadrillions, emphasizing the precarious financial condition of the country.
Earlier, Kiyosaki had forecasted an economic downturn because of the Federal Reserve’s decisions to raise interest prices since the previous March, a measure taken to curb inflation. He points an accusatory finger at the Fed’s stringent monetary policies for causing regional banks’ downfall, predicting further collapses.
Kiyosaki persistently emphasizes the significance of gold, silver, and Bitcoin (BTC) as valuable hedges in potential recessions. In April, he even foretold a surge in Bitcoin (BTC) value, predicting a future price point of $100,000 and beyond.
Echoing Kiyosaki’s sentiments, renowned investor Stanley Druckenmiller as well has expressed his alarm regarding America’s fiscal predicament. Druckenmiller claims that the mounting debt liabilities and costs could potentially force the Government to make severe cuts to social service programs, including social security and Medicare.
Within a recent keynote speech, Druckenmiller highlighted the severity of the situation, stating that when seeing as the obligations the Government has towards future senior citizens, the . United States debt amounts to approximately $200 trillion, a figure far greater than the as of now estimated $31.7 trillion national debt.
Druckenmiller advocates for immediate curtailment of social programs by the Government to mitigate a potentially worse economic condition in the future. He staunchly thinks that reducing entitlements isn’t an option, but an impending necessity to prevent more drastic measures in the future.