'Rich Dad Poor Dad' Author Warns 'Baby Boomers To Go Bust' Because China-Like Crisis Is Coming To America: 'Get Real'
Portfolio Pulse from Shanthi Rexaline
'Rich Dad Poor Dad' author Robert Kiyosaki predicts a financial crisis in the US similar to China's, impacting baby boomers' retirement plans. He attributes the crisis to the collapse of major entities in China and warns of similar issues in the US commercial real estate sector. Kiyosaki advises investing in tangible assets like gold, silver, and Bitcoin over fiat currency or real estate investment trusts (REITs). The SPDR S&P Regional Banking ETF (KRE) is mentioned in relation to the challenges faced by the US banking system, including the exposure of regional banks to commercial real estate.
March 29, 2024 | 12:12 pm
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The SPDR S&P Regional Banking ETF (KRE) is mentioned in the context of the US banking system's challenges, particularly the exposure of regional banks to commercial real estate, which could be impacted by the financial crisis predicted by Robert Kiyosaki.
Given the exposure of regional banks to commercial real estate and the recent downgrading of the outlook for five US regional banks, KRE, which tracks these banks, could face short-term negative impacts. Kiyosaki's warning about a similar crisis in the US adds to the concern, potentially leading to a decrease in investor confidence in assets like KRE.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80