I even picked up a few nuggets with this video. Must see video here. I’m off to enjoy some of this Vancouver sun!
Robert Kiosaki has an even more bearish view than Christian:
Clearing the smoke
The market’s response is proof that it isn’t fooled by the smoke and mirrors. The smart money is exiting the market—and fast. The economic problems of this country, and the world, are deep, scary, and potentially catastrophic.
I feel for those who are locked into their 401(k) plans and who are praying that the market goes up so that they can retire. Unfortunately, I don’t believe the market will go up. As I predicted in my book, Rich Dad’s Prophecy, the biggest stock market crash in history is still coming—and it may be coming sooner rather than later.
The reason? The baby boomers are entirely dependent on the stock market for their retirement. They are also the largest age group in the country. As they retire, they’ll need to draw on their 401(k) plans to survive. That means more people will be taking money out of the market than will be putting money in.
Add to that a massive wave of entitlement payments for programs like Social Security and Medicare—payments we don’t have money to make—and you have a disaster waiting to happen.
