'Rich Dad Poor Dad' Author Robert Kiyosaki Says 'Soft Landing Is A Fantasy,' Warns Next Crash May Turn Into Depression
Portfolio Pulse from Benzinga Neuro
'Rich Dad Poor Dad' author Robert Kiyosaki has warned of an impending economic crash that could turn into a depression. He criticized the idea of a 'soft landing' and urged Americans to vote for conservative candidates to avoid turning the USA into a 'Marxists state.' Despite his warnings, the U.S. is experiencing deflation, and some experts predict inflation could return to the Federal Reserve's 2% target by next year. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) closed slightly lower on Wednesday but have seen significant gains this year.
December 07, 2023 | 6:51 am
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NEGATIVE IMPACT
Invesco QQQ Trust Series 1 (QQQ) shed 0.59% on Wednesday but is up 45.59% this year. The tech-heavy ETF could be sensitive to economic downturn predictions, influencing investor behavior.
Given that QQQ represents the tech sector, which is often more volatile in economic uncertainty, Kiyosaki's predictions could lead to short-term negative impact on its price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) closed 0.46% lower on Wednesday but is up 19.42% this year. Kiyosaki's warning could incite caution among investors, potentially affecting market sentiment.
Kiyosaki's comments may lead to increased market volatility and investor caution, which could negatively impact SPY's performance in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70