Are We Experiencing a Black Swan Event? – Robert Kiyosaki & Harry Dent [Rich Dad Show Radio]


This is the rich dad radio show, the good news and bad news about
money. Here’s Robert Kiyosaki. Hello. Hello, hello. It’s Robert
Kiyosaki, the rich dad radio show, the good news and bad news about money
and we broadcast them gorgeous old town, Scottsdale, Arizona. Well,
right now it’s raining, which is a blessing for
the state because uh, we’re all usually very dry and dusty. But we have a fantastic program for you
today because unless you’re living on their Iraq, you may have been watching what the Corona
virus has been doing to the markets. And the question is, what
lies ahead in the future? I may, is this for real or
will it just bounce back? Is it time to just buy the dips as they
always tell you and say, don’t worry, you know, just invest, you know,
buy a Holden, pray for the longterm. So if you believe that garbage, you know, I have a bridge here in Phoenix
who can buy, we don’t have bridges, but you can buy it anyway. Anyway,
our guest today is an all time friend. Person I respect a lot
is known as a forecaster. His name is Harry debt.
He’s a bestselling author. His latest book is zero hour turn, the greatest political and financial
upheaval in modern history to your advantage. He’s called a great
bull, my head, and I did boom. And then he calls for
the great bust ahead. And now it’s busting the ladies and
gentlemen if you want to see and peer into the future. Harry Dunn’s the guy.
Now, I’m not saying he’s always right, but he always stretches my brain and
causes me to look differently at what’s going on in the world today, especially
in the world of money. And for you, old guys like me, if you’re a baby boomer, not only is a Corona virus after
you cause only kills all guys, but it’s also going after
your yard retirement. So this is a good time
for the baby boomers, the generation that had the best
of any generation in history. If you’re an American baby boomer
and you didn’t make, strike it rich, you did something very
wrong. So Harry, once again, welcome to our program. I can’t wait to hear what you
have to say about the future. I’m sure you’re going to have some
very happy news for all of us. Yup, yup. As usual. Yeah.
Nice to be back Robert. Okay, that’s good. Good. So this is a
trick question I have to ask you. Okay. You know, the standard pitch, you know,
from people in the world’s, you know, go to school, get a job,
work hard, save money, get out of debt and invest for the
longterm old Boulder versified portfolio, stocks, bonds, mutual funds, ETFs. So if you’re a financial planner and
you’ve been telling people for the last 30,000 years, invest for the longterm
and the well diversified portfolio, stock spas, mutual funds,
and don’t worry, you know, the market’s always bounced back by the
dip. It’s going to be a [inaudible], a V bottom, which means it goes down
and comes right back up. Or a w goes up, down and then back up again,
which it has done over the last, let’s say 50 years. So if you’re a financial planner and
your clients are calling you and you’ve given them that advice of investible, a longterm well-diversified for
polio stocks, bonds, mutual funds, what are you saying to them today, Harry? Well, I’d probably say a financial advisor
is going to be more hated than I am currently at the end of
this bubble. Boom. Uh, when it happens, and, and that is true most of the time. But what my work shows and clear
than a bell clears your heartbeat. Every second generational booms
come about every 40 years. Technology, surgeons, every 45 and
then big bubbles every 90 years. When you get at these key turning points, like the late sixties
and stocks or the late, the roaring 1929 stocks
or now stocks go down, Robert, and they don’t get back to
those levels for 23 to 25 years. And I think this time was
slowing demographics in the
U S we may never see the doubt higher adjusted for
inflation than it is recently. So this is not the time to sit through it. These type of longterm corrections
are our crashes after bubbles. They’re going to be 70 to 90%
like 29 to 32 that by the way, not small cap stocks or penny stocks, blue chip leading stocks
like general motors, Ford and RCA back then went down 89% the
Dow in 2.7 years and took until 1953 24 years later to get back to Eben. Wait, wait, hold on Harry. Harry, hang
on. You got to take a breath here man. So what Harry is saying in
1929 when the crash came, if you are holding and waiting
for the market to come back. So in in 1929 the Dow was at three 81
it took approximately 24 to 25 years to get back to three 81 and when I was a kid, I was 1950s when I was growing up. Most of the people who are
part of the great depression, my parents and the people
who were pounded by the DIC, great depression and
the stock market crash, they were never in stocks. There was so gun shy of stocks
and then in my generation, the baby boom generation that
brought back the sinkhole, a 401k defined contribution, pension plans and all this
and the stock market took off. So the baby boomers are con pro, put the proverbial pants down
and now comes the next big crash, which you’ve been forecasting for a
long time, Harry. So what you’re saying, this one might be a long one. Yes, because, because this is the
culmination, not only of the baby boom, gigantic is, is you are hitting the largest generation
in history and it wasn’t just us, it hit globally to grow up
and earn and spend money, which is totally predictable. Average person peaks at 46 for the
baby boomers and spending 47 for the millennials today. Um, and, and
then, and then decline. So, so we Darwin, Harry, Harry,
Harry, Harry, Harry, Harry. This is a rich dad audience.
I like me a little slow. We got to speak a little slower. So what you’re saying is that when a
person hits 46 that’s when they’re at the peak earning and spending and millennials
is 47 is that what you’re saying? Yes. The average, the average
person for a more affluent people, college educated professionals. It’s
more like in the mid fifties but still, yeah, average 46 so baby boomers hit that
peak collectively in 2007 something I predicted like 20 some years before that.
And we’ve been just what we went down, big, big crisis. We’re
since the great depression, but not as bad because they
printed so much money to stop it. And we’ve been living on quantitative
easing ever since to make up for the slowdown in this generation spending. That’s simple and we’re
not coming out of it. So let me, so let me go back again. So let’s talk to in a my generation
or the boomers, you know, what would you say to them if they
bought it? They drank the Koolaid. Let’s say they have a 401k or an
IRA, one of those things. A Roth IRA. They’ve, they’ve, they’ve seen their portfolio per
se go up and now it’s crashing. What advice do you have for
them? I mean, how do they, do they stay in whether they exit or
we don’t give advice at much? Deb, I want to hear your advice. Yeah, yeah. No, you get
the hell out period. Um, I think you may have one more little
run left. Could be a couple months, could be a couple of weeks. Um, because the feds pumping in more
money than ever with the repost, the crisis and now the Corona buyers. But I think this is the death
knell for the stock markets. They can print money to stop a recession
to stop banks from failing companies from failing even stocks from
crashing too much normally, but they can’t stop this
virus from spreading. And it just kills business
businesses. Stop people, stop traveling. People
start, stop spending. I mean, my wife’s not going to go to a, have a woman stay over tomorrow night
cause they’re all coming in from New York, you know, and she’s, you know, she, she might get in the virus and she’s over
60 like I am. And that’s what it hits. It’s old people, like
you said earlier. So, so this is something they
can’t buy with money printing. They have kept this bubble
going far beyond when it
should have peak in 2007 and now they’ve got something
that this doesn’t work on. So, no. So I think this is it. So you
have to get out of the way. So Harry, you know, like I was
talking to this young guy, he was, um, he’s a laborer, w was painting parts
of my house and he says, you know, I bought a house, like you
told me to back in about 2000. You bought it for like, I think 100,000 and using round
numbers and now is 300,000 and he has no retirement. He says,
what should I do? And I said, should I sell my house? And
I went, I don’t, once again, ladies and gentlemen at rich dad, we don’t give financial advice and I
definitely couldn’t advise this guy. He’s probably only 40 he’s got three kids. He’s got a job painting
houses. He’s got no, no stocks. You and I are calling for a
25 year possible depression, longterm inflation. What
do you say to people? What do you cause he said if he
sells, he sells his house. I sit, where do you go? What are you
going to do with that money? Let’s say you have $200,000 and you’re
going to pay capital gains tax on it. What are you going to do? He was clueless. Well, I’ve got some simple rules. Robert. I had become a bubble expert since the
tech bubble crashed in early 2000 on top of demographics and technology and all
of these cycles because we are in a bubble era. The last bubble era we saw was the roaring
twenties so nobody lived in a bubble before and real estate was not the bubble
back then because you couldn’t borrow money so easily against housing
fact. It’s very difficult. So now it’s everything. The
rule for housing is real quick. Bubbles go back to where
they started that that house, if he bought it at the bottom
at 111 and now it’s worth 300 K, my rough estimate is going to
go back to near that level. If he’s comfortable sitting through
189,000 potential decline in something he probably has a mortgage against and maybe
some home equity lines that he went on back then, fine. I think anybody
with any brains would say, Oh no, I don’t want to sit through
that one. Oh, and by the way, uh, the demographics, I’ve got a new real estate model that
doesn’t just project peak spending like other consumer categories. I have to subtract the
DIYers and guess what, baby boomers are now dying
at unprecedented rates and
will continue to do so. And the 2039 or 40 that takes down the
net demand even takes it negative at some point for real estate. So homes are never gonna appreciate
like they did at this boom, even in the next boom. So it’s better, especially older people who are retiring. A lot of baby boomers are realizing they
didn’t say for retirement cause they live in in good times and thought they
didn’t need to and now they’re saying, Oh wait a minute though, my make
mansion, which I don’t need. Now that my kids are gone,
I can sell that instantly, fund my retirement plan and
rent my retirement home. I think that’s really
excellent advice to do that. Oh, you think that’s a good
as good advice right now? I think real estate, my praise
and my newsletters and books, real estate will never
be the same. Robert, when for the first time
in all of modern history, the next generation has less peak buyers
for everything than the baby boom. And in many countries it’s way less
like Japan and Southern Europe and East Europe and places in East Asia. So
you know, there’s always been Oh, bigger generations and more
and in higher mortgages, availability and more people owning
homes. Well, it’s all the opposite. Now. Millennials don’t buy as many houses.
They don’t buy as big houses. Oh, they share cars. Well next they’re going to be sharing
McMansions they’re going to be so cheap. There’s going to be putting two,
two millennial families splitting, splitting a McMansion into a duplex
because they can buy a McMansion for a little more than a normal start at home
because they’re going to crash the most. So real estate dynamics are going
to switch. Stocks will crash, go back near new high
somewhere down the road. I don’t think real estate will
get to these prices ever again. So you better love that damn home
if you’re going to stay in it. I, I I own nothing except my vacation home
off the on Island off of Puerto Rico because it’s a unique property. It’s
also gone from 25 to five acre zoning. And until I get that codified where
I have five lots instead of one, I’d be stupid to sell it cause there’s, there’s probably 40 50% value add just
from that. But I don’t own real estate. I’d rather rent. Once again, Robert Kiyosaki,
let me say it issue, and we’re listening to one of my dear
friends and one of the guys that always see as to future good and bad, and
he’ll always tell you what he thinks, good and bad. That’s Harry debt and he’s author of the
great boom ahead and the great Boston is always right on because his, he
taught me one most important word, it’s called demographics. You don’t have to protect the Mark
has just watched the demographics. The people as an old saying goes, demography is destiny. And so the beauty about Harry as he
watches the world and he travels the world like I do, and he goes all over
the world looking and talking. When you look at the demographics
of certain country countries, especially Japan, you know Japan has
been in a depression for 30 years now. Herring, a 20 years. Yeah, 30 years and real estate crashed 60 some
percent and has never even bounced with the millennial generation because
more old baby boomers dying than, than millennials coming along in Japan
because their demographics are even worse than ours. I don’t know. People say, Harry real estate can’t go down 60%.
Oh, it already hasn’t Japan. Oh, it’ll always come back and go
higher. No, it hasn’t in Japan, and we’re 30 years later, but they also have a problem that I
think we’re going to have to is called demographics. I mean, they have a dying generation and people
are counting on the population of America or whatever country
you live in to keep going up. And I don’t know if that’s, yeah, barely grow. Our workforce is not
going to grow at all and coming decades. But the net demand, when I
subtract the peak buyers, Robert at 42, uh, and subtract the DIYers at 78
to 80 from those peak buyers, net demand for real estate goes down
for the next two and a half decades. So there’s no way real estate’s going
to go up like it did in the past. It’d be lucky to go up with
inflation after this crash. And inflation means if it only goes
up and in place and which is more historically the Norman housing, then you’re making zero
real return, um, like gold. Right. Let’s get to Robert Kiyosaki. Our guest today is Harry
dent and we come back, we have to go to a commercial
break here. I’m going to ask Harry. So we’re talking about millennials
talking about real estate. I want Harry to give advice right
now. So let’s say you’re a 60 years. All you have a 401k with, I think the average 401k
for our baby boomers, $75,000 you can’t live on that.
And it looks like our pensions, a defined benefit pension plans
for police officers, firefighters, and school teachers are about to go. Bus cars are bused all
over the world right now. So hair is going to come back and
he’s going to give financial advice. All you old guys like me, women right
back. Welcome back. Robert Kiyosaki, the rich dad radio show, the good
news and bad news about money. Our special guest today is Harry debt
is infamous for his predictions because he, he uses demography or our
demographics to protect markets. And he talked about the great boom
ahead cause the baby boomers were just starting to boom. And now the boomers are about to
bust and the market’s about to bust. So once again, you can listen to
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So we have our guest is Harry dent. I have two questions, so ask
them. The first question is, if you’re an aging baby boomer, and let’s say you’ve got a
hundred K inside your 401k, or you’re a police officer and you’re
up to a million dollars and you got a home, what would you, what advice would you give to the aging
baby boomer if now that the boom is about to bust and Harry’s calling
for a 24 to 25 year depression? So what advice would you give
to that aging old guy like me? Okay. First of all, I already, correction, I’m calling the worst of a depression
that really started in 2008 with the great recession to hit between now and 2023
and then we’ll pretty much be over it. We’re just going to have to deal,
leverage a lot of deaths, but that, that’s going to bring markets down
and real estate down to reality and, and a lot of bank failure and
stop this so we can grow again. It’s called a detox. You know, in
the healthcare industry, you know, when you get too much of
a drug, a dangerous drug, you have to detox that ADI system. Uh,
we have dangerous debt, dangerous, uh, bubbles in everything from,
from real estate to stocks, uh, to bonds that have to deleverage and
that’s what’s going to cause so much pain. So what you have to do, you get
out of the way of the bubbles. That means if you’re an aging baby boomer, you own the most real estate
more than most millennials, a bigger house or and
have more equity in it. That equity is your treasure chest. I would sell especially a larger house, either downsize now that
you’re just a couple of, don’t have a kid because you’re older.
I’m into a smaller house or better, like the smartest day boomers rent that
house in retirement. It’s more flexible, lower costs anyway, and now you’ve got a treasure chest to
add to your 401k or pension plans or whatever retirement plans you have. And to take advantage of the
greatest crash in history, which is going to bring
stocks, real estate, and most assets down to levels you can
buy longterm and make really strong returns. Again, you cannot
make strong returns now, even if we don’t have this crash. I’m
talking about the best stock models. Say at these valuations, you’re going to lose 2% a year over the
next 12 years without my scenario of, of of a crash of a lifetime stocks.
So real estate is number one. People think, well real estate
and it always comes back. No, no. You know I said that in the first segment, Robert with baby boomers are dying
faster than millennials are coming along, buying and they’re having
different buying dispositions. They do know real estate can go down.
Unlike baby boomers, they, they, they do everything small and would
rather spend more money on education and vacations and world travel and stuff. They’re not going to be as bigger buyers
and there isn’t the same way to drive things up. So real estate is not only going to go
down as much as 40 to 50% in a lot of places, it’s also not going to come back probably
at much more than inflation rates in the future. So it’s not the
investment it was for us boomers, us boomers created the greatest real
estate boom in history benefited from it. Now we’re going to be the ones dying
and increasing numbers of tanks. So, so, so Harry, Harry, if I have a hundred K in my 401k or a
million and my defined benefit pension plan, we just sit tight
and just ride it out. Or would you get rid of your stocks too? No, cause that’s going to be
in stocks and bonds. The bonds. What I want to do if I’ve
got, you know, in a 401k plan, you’ve got know your
stock funds and your bond. I want the most conservative
longterm bond funds, AAA investment grade corporates
and treasury bonds. Uh, those things. You just look at
what the treasury bonds just did. They went up as much as stocks went
down in this recent 19% flash crash. They went, they were
the safe Haven, um, and, and they’d benefit from deflation. All
other, when these bubbles and debt, when debt bubbles and financial
asset bubbles, the leverage, everything goes down except for the
safest assets and the best currencies. And believe it or not, gold bugs. The best currency in the world of
the major ones is the U S dollar. With the best house in a bad neighborhood. We haven’t printed anywhere near as
much money as the Europeans compared to their GDP and not even close to
the, to the kamikaze Japanese. So, so, so we’re the best how the U S dollar
went up at the worst of the 2008 crisis. When gold went down 33% and silver went
down 50 and stocks went down and real estate and everything. So, so you get
out of stocks for sure that that is, the stocks will not come back to these
levels we’ve seen recently when they finally crashed for decades, if ever. So you don’t sit through this. You can buy the best stock in aging
industries for the baby boomers, like nursing homes, assisted
living, and cruise ships. After all, this gets over and in the, the, the new, the new boomers around the
world generation and then
Southeast Asia are going to be the fastest growing, uh, fluent
economies urbanizing in the future. So plenty of places invest. You have
to get out of the way of this bubble. Do not live, I’m sorry. Do not listen to your broker or financial
advisor because they’re going to say this is just going to be another downturn
and stocks will be at new highs and a matter of years. This
will not be the case. Mark my words on this, if we do not see a major correction in
the next few years, I am going to be, and I’ve always pledged to be, I’m going to retire in Australia on the
gold coast as a limo driver and shut up. Yeah, good. Yeah. Good choice.
I would, I would go to, I’ll, I’ll join you in Australia cause you and
I was invited on that tour. Thrace try, just don’t have the time to do it. But
anyway, Harry. Yeah. Once again. Yeah. Which that does not make recommendations. He’s a Harris recommendations
and you know, I, I Harry is, I would say 90% of the time been
accurate on his productions. That’s what he’s known for. And he
gave me that word, demography or, or demographics as destiny. Just watch the demographics and the old
guys are getting old all over the world. I don’t know if you know this, but
we’ve been saying this for years. I mean for last few
months, the next 10 years, 2 billion old guys will be over 65
2 billion if they live that long. So it’s going to be a major demographic
shift coming on planet earth regardless what happens with Corona,
Ebola or the stock market. I have a final question to ask
you in your one, your book, um, you talked about the trends and
one trend you talked about with, I think you call it terrorism or violence, that it lasts I think 18 to 20 years
or something and just as you called it, that was nine 11 it came just justice
Harry called it. He says, we’re, we’re entering the age of
violence or something like that. We’re terrorism and right on
schedule nine 11 hit. So what, what, what is that trend you, you watch? Yeah, it is an what I call an
adverse geopolitical cycle. When I was predicting the great boom
and every, I was way more popular. As you can imagine, Robert saying, first guy to say Dow 10,000 by 2000 in
the late eighties and early nineties, first person to predict
the collapse of Japan, which nobody would thought they
were going to take over the world. Like they think China day beat this. The last boom though from
2002 to 2007, I overestimated. We predicted the first one and then the
crash. I said, Oh, it’s not over yet. We’re going to go up until late 2007 and
I predicted the Dow could go to 32,000 while I went to 14 something and, and I realized by going
back and studying stuff, there’s a geopolitical cycle that
17 to 18 years positive and in 17, 18 years negative, I’d seen
somebody put that, um, uh, uh, Ralph back and pour up, put
that out many, many years ago. But it coordinated enough
with my demographics cycle. I thought it was double
counting. Well, it’s not, it’s a separate cycle and stocks are 50%
less valued at the bottom of the cycle. Now we are at the bottom. That cycle. That one cycle is bottoming in 2020 I
think this Iran thing was a sign of it. I think that was the peak of the whole
middle East crisis and the massive intervention in the U S on not only
is Iran and us at a standstill, which is positive to me, but our rock kicked decided
to kick the U S out of Iraq. We get out of the middle East and let
them Duke it out and solve their own problems. We’re going to have a
lot less problems in the future. So this is the one cycle I have. It turns up slowly and then
the demographics turn up
in 2023 but the technology cycle is the one that’s most peaking
here every 45 years and now 90 years. The double cycle is the biggest bubbles. The bubbles come out of the technology
cycles and that’s the one that’s going to crash and that’s the one that lines up
with 1929 to 32 about 90 years later and those big cycle and those,
the Fang stocks, Facebook, Apple, Amazon, Netflix and Google. Yup. All of those texts. Texts
are the strongest in a bubble. They’re still the best companies
longterm, but they that bubble the most. Same thing with the highest
end real estate and you know, Manhattan or South beach, you know, Miami or San Francisco
or whatever, you know, the highest end places go down the most, the best stocks go down the most and
then you buy them and then they do well again, you could’ve bought Amazon, um, before the bubble in 2006 and went to
one on hundred 61 back down to six and then it went up to 2000
and something recently. So, so you want to get out of the best stocks. Now of course banks and
financials are going to get, are not as overvalued as the tech stock, but they’re going to get hammered
because we’re going to have the financial crisis that they prevented by printing
$16 trillion starting in 2009 we’re going to have it bigger than ever because
they’ve only added a hundred, some trillion in debt. And
particularly in emerging countries, which crashed the hardest. So, you know, financial stocks are the ones that
get out in tech stocks the most, but all stocks. I looked
at the thirties Roberts, even utilities and like
Proctor and gamble, like consumer staples went down because
everybody gets fearful and it’s the price to earnings ratio. The claps has
more than the sales and the earnings. Okay. So, so this is my question, I’m kind of worried about this
terrorism thing, you know. So you’re saying that’s on a
decline. So like North Korea and so, yeah, I think that’s, that’s I, I think you have more like crisis over
financial stuff and coronavirus but I think the global stuff, you know, all the Wars in the middle East
and all this sort of stuff, I think that’s going to
calm down more is the, the crisis is going to be a bad
economy. Puts people in dire straits. And my view, Robert, as you probably know, I see that the greatest polarization
in politics since the civil war, the blue, red, uh, you know, polarity I see that is just going to rub. It’s another reason other
than lower cost of living, much better taxes and better
weather in Puerto Rico. I’m happy to sit out here cause I, I
tell you when the economy goes down, uh, the, the red and the blue people
are going to get along a lot less. Well on the red. People
have all the guns, so, so well, so that’s my
question. So, you know, given this Corona virus and
if terrorism going down, is it safe to shop at Walmart now? No, not coronavirus is just
starting to hit. It has, it is peaked out for now in China.
It’s just starting to hit guess, guess where he’d exploded? Nothing.
Nowhere. It exploded the most, not in Vietnam or Southeast Asia or
Philippines, other places around. It’s more Korea in Japan and now it’s
in Northern Europe, particularly Italy. What Italians do? Yeah, you ever been
around Italian? They don’t just, you know, shake the hand or give a
little Peck on the cheek. They give a big pack on each and then
one right smack to the lips and then God knows what they do. They’re having the highest death rates
because they have such high human contact naturally, but it’s the colder
climates. This virus likes cold. It doesn’t like warm. So I think by the summer this thing
can start to Peter out. But you know, the next month I think, uh, uh,
Kyle Bass said the other day, you think this thing is bad now his
bias, he’s not gonna do anything. He’s going to wait a month and then
look for bargains in the stock market or something. While I think it’s going
to take a lot longer than that. But I think if this gets worse, there is
no question this is going to get worse. It is just starting in the U
S it is exploding in Italy. Just in the last two days
they added another 256 deaths, another 3000 infections. I mean it’s gone up 50% and
infections and deaths in two days. Their death rate is 6.2% China was 3.8
us is at 3.5 but you know that South Korea and Singapore who do a immediate
testing and try to catch it earlier, their death rates are less than 1% well they don’t bet on a hug
and kiss either. They’re Asians. Remember that hair there, they’re very unaffected people that don’t
hug and kiss. So that’s why Italian. Exactly. They don’t hug and
kiss. Exactly instead of Italian. Harry once again, it’s always entertaining and
informative and thank you for your um, you know, your, your, your
outstanding outlook into the future. The good news and the bad news and the
great depression ahead and all that stuff. So I edited by was
no more about Herod debt. His website is
dentresearch.com. And so Harry, thank you for once again informing the
people of the rich dad radio program. Thank you. Welcome back. Robert
Kiyosaki, the rich dad radio show. Ken, thank you to Harry dent, spoke as the great boom ahead and now
the great bust ahead and his other ones, zero hour turn, the greatest political and financial
upheaval in modern history to your advantage. And this is going to be the
biggest pus we’ve ever seen. Once again, they can listen to the rich dad radio
program ended Tam anywhere on iTunes or Android and YouTube. And please leave a comment or
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and the reason we archive it is so you can listen to this again
cause you’ll learn more the second time. But most importantly, our friends, family or business associates
who need to hear this program, please call our rich dad radio.com
listen to it and discuss and then you can make up your own mind of what you guys
should do. Cause I agree with Harry, we’re going into a depression and he
thinks it’s only going to be a short one. But I count, I count the
crash from 2020 knot. He counted a 2008, but it depends.
The last, the last depression, loss of 25 years, 2019 29 to 1954 I believe. So this is pretty serious. And so please ask your friends to listen
to us and discuss. And once again, rich dad makes no recommendations.
We give no advice or stock tips. I like Harrison Harris. Recommendations
are Harris recommendations. We believe in thankful yourself. So
Sarah, what did you think about Harry? Well, I mentioned after we, we let him go. I felt like I just did
a hour’s workout. Um, a couple of things that I took away. It, I’m just a little bit older
than the oldest millennial.
Um, so not that far off. And you know, just a kid,
just a 40 year old kid. Um, but one thing he was
talking about was the, the real estate market and the
replenishment rate. Right. So boomers, like my parents, um, you know,
that was a big step in their life. They got married, they bought
their house. If they were lucky, they stayed in that house,
you know, for the rest of, for the rest of their life. That’s
where they raised their kids. Millennials aren’t buying that way. And so what’s going to happen to the
real estate market after he says all the buyer, you know, the DIYers, he calls
him the, the buyers aren’t, aren’t there, they’re going to start sharing houses. And so that was an interesting perspective
that I hadn’t for some reason thought of before. Harry mentioned it on the show. [inaudible] they were
called McMansions, you know, and I have several of those McMansions
unfortunately, but this, you know, like there’s a terms I
don’t give a, you know what, and the reason we’re talking
about it is because, um, the reason I have the rich dad radio
program is to prepare you for the stuff. And I have a condom. He crashes. I’m
going to get extremely rich. Yeah, it goes up. I’m going to get
extremely rich now to get there. I made a lot of mistakes.
I lost a lot of money. I made some bad investments at horrible
partners, bunch of crux along the way. But that’s all part of the process
of financial education. You know, you don’t just buy, hold and
become a multimillionaire. I don’t. I don’t want people to thinking. So the good news is no
matter which way it goes, I’m going to get very rich and then
I’m going to roll all of my assets, Kim and I roll him all of our
assets into what’s called a CRT, a shallow rim into trust, and we’ll
pay zero tax on the whole thing. That’s what financial education is. And that’s why with the
rich dad radio program, the rich dad company is because
financial education is your best asset. Unfortunately, don’t learn that in school. Another thing my rich
dad always said to me, and this is why we have this program, you can’t teach a man to
swim when he’s traveling. Drowning man could not learn
how to swim. And unfortunately, a lot of the old guys like me,
thank God you’re still a young kid. You have time to learn how to swim. But most of my peers are too
old. They cannot learn to swim. And I think they’ll go
down to gargling with many, many millions of Bay billions of baby
boomers all over the world. Yeah. So I think that’s the thing is, but just know that the ritual
always get richer and the poor, the middle class this time will stay poor. And as Harry wrote about the great boom
ahead, the baby boomers boom is over. I think, so I read a lot of the feedback that we
get on these shows and you’ve been doing this radio show for many years now
and everybody’s like, Oh Robert, you’re saying the same thing. You’ve predicted a crash dadi dah not
one of these people is taking heated your warnings because now they’re
drowning. You know what I’m like, this is the point of the show is the
financial education and yeah, the, the, the message stays the same. We’re saying the same thing
but because nobody listens. And so I think we’re going to keep
doing this until people figure it. Start figuring it out. Yeah. And it’s really
uncomfortable. You know, like this is all the fairy tale
chicken little, the sky is falling, the sky is falling. Well, I’ve been chicken little but at the
same time I’d been preparing, you know, some of them I made, I made a fortune of when the market
goes up and I’m going to make a bigger fortune when the market goes down.
That’s financial education. It’s not buy, hold and invest for the longterm of all
different supply portfolio of stocks, bonds, mutual funds. And that’s why I
started this program. Ask Harry debt. If you were a financial planner,
what would you say now, you know, buy whole prey. You’ve got to
be crazy. I agree with them. This baby is gonna stay down. I
don’t think it’s going to come back. I’ll tell you why it’s not going to come
back. It’s because when you look at, you know, today we have this
election between Bernie Sanders, Biden and Trump now and what
Bernie is saying is PO, I have, I have, I, I feel for
Bernie’s constituency, the
guys that are voting for him, they have no healthcare. You know, and
healthcare is the most expensive thing. When you start passing 50 healthcare, it gets more and more expensive
because you get older, right? So the biggest crash coming is going
to be social security and Medicare. And those are SMF. I’ve seen some numbers as high as $200
trillion and nobody’s counting that. And the reason Medicare is
gonna go buses. W you know, when I talked to you about, we may have this guest on who’s talking
about what the food companies are doing is a stuffing. Our food full of fruit
doesn’t sugar and sugar is not only poisonous, but it also makes you fat. And if you’re a fat then you collect
yet well obese and you have diabetes, heart disease and all that. So I have all those diseases and they’re
called the disease of the fast food generation. You know, I chew in a lot of Whoppers and
burger Kings and all this other stuff, so it gets more and more expensive. So all young people please listen.
You know, just because Harris is, it’s going to come back
in 2025 or something. The next big typhoon is
the dying generation, not the boom or the dying
generation. They’re going to, they’re going to destroy
Medicare and social security. So if you’re sitting there and saying, Oh, well Bernie is going to say may
Bernie Sanders or Joe Biden of Trump, I think you’re solely mistaken. And if
you’re just watching the stock market, that’s the biggest concern. It’s not
just a stock market. That’s demographics. Exactly as Harry talks about in his book. Yeah, that was a, I think that’s the part of the show that
I really liked that he talked about because it isn’t just the
stock, the ups and downs, it’s the wave of the demographics that
changes, that changes everything else, which I thought was very interesting.
And this is worldwide, you know, with the plug my book, who stole my
pension, that’s the biggest crash of all. It’s going to be to find the firefighters,
police officers, school teachers, they have nothing. And they’re
like my poor dad, you know, or college professors tenure,
they got job security. You can’t learn to swim
when you’re drowning and all
of those guys are going to start drowning then the
next couple of years. And so are they going to invest for the
long term or not the time to learn to swim as now. So you’re
a young person like you. That’s what we encourage
here at rich dad, right? Yup. Yup. So I’m going to get
richer than ever on unfortunately. Like I’ll just tell you what I’ve
invested in, you know, about 25 years ago, Kim and I bought this piece of property
right on Camelback when the crash, alas crash and it’s a health club
and the baby boomers are sold now, they can’t even get to
the health club. So, so we’re converting it to an old age home
so they have a place to go to because demographics is destiny that your
demographic changed. Yeah. And and, and it gun said, well, what if they
can’t afford a healthcare home? Well, that’s why we bought,
you know what I mean? Camelback is the best street in Phoenix
and that’s why the health court units going to be, so it’s all going to be
these rich all guys who will move into my, I’ll be one of them in this,
this health care facility. So that’s how you get rich.
He’s look into the future, look at demographics as Harry dent talks
about and you base your protections off of that and you look at this, you know this Corona virus stuff as
you know sir, I’m, I’m a prepper. So I have my, I have my
a weapons and you know, cause somebody comes to my house, I’ll
steal my toilet paper. They’ll have, they can take your gold
but not your toilet paper. But the other thing I’ve started up, which most people don’t know
is antibiotics, you know, and though they come from China.
So a little prior, proper planning, level of prior proper planning
prevents piss. Poor performance. Just look into the future. Just do, as
Harry dent says, look into the future, look at the demographics, looking at
the people doing so the millennials, I’m still gonna make a lot of money cause
my house is I think 8,000 square feet. I can chop that into three
different units, different houses. So there’s always something you
can do. And that’s what I’m saying. So don’t put your head in the sand.
Final words are Sarah and I, you know, great. And this was a great episode.
Always love hearing from Harry. Um, and to quote Harry, he said, get
the hell out of the stock market. That’s Harry’s that, not our advice,
but I thought that was, you know, straight to the point. Yeah. I haven’t been in the stock market for
years cause there was a divergence between the stock price and it’s a
vergence between the stock
price as underlying value. Phoenix real estate is booming because
people are moving out to California because there are pensions,
which is CalPERS is going Prost. So they’re going to raise the
taxes on all the Californians. Yep. So they’re evacuating, they’re escaping across the
border from California to Arizona. And taxes and real estate here is
booming, so it’s still pretty cheap. You know those, this woman’s sold
her house for 750,000 I would, I would’ve paid maybe 50,000 for it.
She was happy to get some in 50 for it, but just building a $3 million
house. That’s stupid. But anyway. Anyway, thank you all for listening to
listen to the rich dad radio program. Once again. Thank you, Sarah.
Thank you, Harry. Dent.

15 thoughts on “Are We Experiencing a Black Swan Event? – Robert Kiyosaki & Harry Dent [Rich Dad Show Radio]

  1. Robert kiyosaki always said that investment for a long term is a mistake, but the mistake the big mistake he recommends is to go and borrow money… so stupid!!

  2. Thank you, Thank you for the information and warnings. My generation "X" might be the most clueless in 100 years and we need all the help we can get.

  3. crude demographic arguments are totally unhelpful. One confounding factor that never came up once: immigration.

  4. Harry’s not considering QE5 (trillions) in his estimates. QE factor didn’t exist in the last depression. All bets are off with these market manipulators. Gold & silver should also be through the roof but they’ve held that down. Try and find gold for the future’s price per ounce.😂😂

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