The global financial landscape is undergoing a seismic shift, with the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—leading the charge toward de-dollarization. As this movement gains momentum, concerns about the stability of the US economy are mounting. Renowned finance expert and author of Rich Dad, Poor Dad, Robert Kiyosaki, has issued a stark warning: the US is “going broke.”
Kiyosaki’s alarming prediction stems from a series of economic indicators that suggest the country is on the brink of a major financial crisis. The Federal Reserve’s potential interest rate cut in September, following a period of 23-year highs, is seen by many as a sign of the economy’s fragility. However, Kiyosaki believes that the worst is yet to come, with a looming domino effect that could spell disaster for the nation.
In a recent post on X (formerly known as Twitter), Kiyosaki pointed to California as a “BELL-weather state,” implying that the financial troubles faced by the state could soon spread across the country. “California is going broke,” Kiyosaki declared, predicting that the state will soon resort to raising taxes and cutting subsidies to essential services like prisons, economic aid programs, environmental initiatives, and education. These cuts, he warns, will likely lead to a surge in crime and further economic instability.
Kiyosaki’s grim forecast comes at a time when the US national debt has ballooned to over $35 trillion, a figure that could have severe implications for the country’s financial future. The expert’s concern is not just about the immediate economic pressures but also the long-term effects of the BRICS bloc’s efforts to diminish the dollar’s dominance as the global reserve currency. As BRICS nations explore alternatives to the dollar, the potential for a significant shift in global economic power looms large.
Also Read: BRICS GDP Surges To 36% Of Global Economy With 3.5 Billion People, Poised For 40% By 2028
The de-dollarization push by BRICS is not merely a symbolic gesture but a strategic move that could undermine the US dollar’s position in international trade and finance. This could lead to a reduction in demand for the dollar, exacerbating the already precarious state of the US economy. The possibility of a full-blown economic crisis in the US, as Kiyosaki predicts, cannot be ignored, especially as the BRICS bloc continues to expand its influence on the global stage.
As the world watches, the US faces a critical juncture. The next few months will be pivotal in determining whether the country can navigate these turbulent waters or if Kiyosaki’s warning of economic collapse becomes a reality.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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