Comments on: Kiyosaki’s American Economic Doomsday http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html personal finance blog with anecdotes, advice and commentary. Sun, 22 Nov 2009 06:04:27 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Rockefeller http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-288106 Rockefeller Wed, 01 Oct 2008 04:15:11 +0000 http://www.bargaineering.com/articles/?p=855#comment-288106 OMG, such ignorance! The person who supposedly read Robert's books and found them all the same has obviously not understood them at all. Kiyosaki doesn't teach work hard - but work smart - "use leverage". He doesn't recommend taking risks - in fact he's risk averse! That's why he's more likely to build a business or buy a real estate asset that he can add value to, than to buy-and-pray on some stocks. He says most people don't know what they are doing, so they diversify - but he calls it 'de-worsify'. He says, if you are good at one asset class, stick to that; and sure, park spare cash in assets from another class. And the be your own boss thing; he stresses a big difference between owning a business and owning a job. If you can walk away from the business for a year and it can still run, then you own a business (his definition is a leveraged system). if you can't, then you just own a job. Robert Kiyosaki is definitely inspirational (that feeling when you finally get HOW the rich get rich, and WHY the poor are poor) and insightful. Kiyosaki has been criticised (for example by my dad) by being too basic, and not giving specific enough information. I think he's like a first-step guy; he teaches the average person WHY working for a wage is not going to get you rich; WHAT leverage is and how the rich use it; and what COMPOUNDING will mean to your growth. (most people get what compounding means in reverse to a credit card purchase they made back in 2002 and are still paying off 6 years later, long after the computer -or whatever item they bought - is obsolete...) Treed is the guy who I bet is trying to get famous by running down the guys who are as famous as he would like to be. He would get more press from detracting Kiyosaki than writing his own books with a new idea- if he even had one. So Treed is using Kiyosaki's fame to leverage his own; - using the very books' teachings he is dissing! (what a hyprocrite, no respect there.) Firstly Kiyosaki has predicted this collapse for years, as has Stuart Wilde. A friend kindly explained the fractional reserve banking system to me; There is so little known about this system, that even the chairman of the local chamber of commerce wasn't able to explain it to me. (That's okay, because I was able to sit down and explain it to HIM.) He doubted me, of course; but that's a bigger problem. Why don't people know this - because they aren't interested, it's not on TV, 'they' don't want us to know, people are too busy to care - 'just give me my paycheque - I've worked a long week and now i'm goin fishin' with a slab of beer.' Most of the employees in a bank don't even know what it's fractional reserve rate is. I could rant on about this and that but really my point is, most don't understand; so they put others down for a myriad of reasons. 'I'm broke, and it's your fault' - victim story. People love blaming others; it's how Hitler got away with what he got away with. Sigh. In the end the rich are using the same system to get rich than the poor use to get poorer; the difference is like racing a guy on foot against someone using leverage (of any sort. even just a wheel!) OMG, such ignorance!

The person who supposedly read Robert’s books and found them all the same has obviously not understood them at all.

Kiyosaki doesn’t teach work hard – but work smart – “use leverage”.
He doesn’t recommend taking risks – in fact he’s risk averse! That’s why he’s more likely to build a business or buy a real estate asset that he can add value to, than to buy-and-pray on some stocks. He says most people don’t know what they are doing, so they diversify – but he calls it ‘de-worsify’.

He says, if you are good at one asset class, stick to that; and sure, park spare cash in assets from another class.

And the be your own boss thing; he stresses a big difference between owning a business and owning a job. If you can walk away from the business for a year and it can still run, then you own a business (his definition is a leveraged system). if you can’t, then you just own a job.

Robert Kiyosaki is definitely inspirational (that feeling when you finally get HOW the rich get rich, and WHY the poor are poor) and insightful.

Kiyosaki has been criticised (for example by my dad) by being too basic, and not giving specific enough information. I think he’s like a first-step guy; he teaches the average person WHY working for a wage is not going to get you rich; WHAT leverage is and how the rich use it; and what COMPOUNDING will mean to your growth.

(most people get what compounding means in reverse to a credit card purchase they made back in 2002 and are still paying off 6 years later, long after the computer -or whatever item they bought – is obsolete…)

Treed is the guy who I bet is trying to get famous by running down the guys who are as famous as he would like to be.

He would get more press from detracting Kiyosaki than writing his own books with a new idea- if he even had one.

So Treed is using Kiyosaki’s fame to leverage his own; – using the very books’ teachings he is dissing! (what a hyprocrite, no respect there.)

Firstly Kiyosaki has predicted this collapse for years, as has Stuart Wilde.

A friend kindly explained the fractional reserve banking system to me; There is so little known about this system, that even the chairman of the local chamber of commerce wasn’t able to explain it to me. (That’s okay, because I was able to sit down and explain it to HIM.)

He doubted me, of course; but that’s a bigger problem. Why don’t people know this – because they aren’t interested, it’s not on TV, ‘they’ don’t want us to know, people are too busy to care – ‘just give me my paycheque – I’ve worked a long week and now i’m goin fishin’ with a slab of beer.’

Most of the employees in a bank don’t even know what it’s fractional reserve rate is.

I could rant on about this and that but really my point is, most don’t understand; so they put others down for a myriad of reasons.

‘I’m broke, and it’s your fault’ – victim story. People love blaming others; it’s how Hitler got away with what he got away with. Sigh.

In the end the rich are using the same system to get rich than the poor use to get poorer; the difference is like racing a guy on foot against someone using leverage (of any sort. even just a wheel!)

]]> By: Virgina P. Dean http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-283867 Virgina P. Dean Fri, 19 Sep 2008 02:41:11 +0000 http://www.bargaineering.com/articles/?p=855#comment-283867 Get rid of the Monarchy of type of government in America, No morals. no guidelines for the Constitution,and no priority to leadership . The Power Privilege types that believe they have a right to Rule the White House. George Bush Junior, Hilliary Clinton, and John McCain. American voters must Vote Democrat just to get a complete different mind set in the real world, with facts, and reality. THE POWER BORN PRIVILEGE CLASS TYPES HAVE DESTROYED AMERICA WITH THEIR RIGHT TO RULE LIKE A MONARCHY GOVERNMENT. SARAH PALIN COULD NEVER BE IN THE OVAL OFFICE OF THE WHITE HOUSE SHE IS POWER INSANE. ABUSE OF POWER IS HER PROFILE 100%. The complete Collapse of the financial Industry of America, in a horror is due because AMERICA LET ITSELF BECOME A MONARCHY GOVERNMENT BY THE GEORGE BUSH JUNIOR FAMILY. because of complete abuse of power. Get rid of the Monarchy of type of government in America,
No morals. no guidelines for the Constitution,and no priority
to leadership . The Power Privilege types that believe they have a right to Rule the White House. George Bush Junior, Hilliary Clinton, and John McCain. American voters must Vote Democrat just to get a complete
different mind set in the real world, with facts, and reality.
THE POWER BORN PRIVILEGE CLASS TYPES HAVE DESTROYED AMERICA
WITH THEIR RIGHT TO RULE LIKE A MONARCHY GOVERNMENT.
SARAH PALIN COULD NEVER BE IN THE OVAL OFFICE OF THE WHITE HOUSE SHE IS POWER INSANE.
ABUSE OF POWER IS HER PROFILE 100%.
The complete Collapse of the financial Industry of America, in a horror is due because AMERICA LET ITSELF BECOME A MONARCHY GOVERNMENT BY THE GEORGE BUSH JUNIOR FAMILY.
because of complete abuse of power.

]]> By: Tony http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5173 Tony Tue, 04 Apr 2006 20:24:09 +0000 http://www.bargaineering.com/articles/?p=855#comment-5173 It is hard to believe his rhetoric when almost a third of the world’s economies use the dollar as their currency of reserve funds. The most significant fact that I believe he misses is that despite our balance of payments, it is not in the best interest of the worlds economies to have the dollar depreciate to the extent that he is talking about. Yes, you will have fluctuation but the worlds governments have way to much invested in the dollar to create a detrimental sell off or decline in value. Nice post Jim... It is hard to believe his rhetoric when almost a third of the world’s economies use the dollar as their currency of reserve funds. The most significant fact that I believe he misses is that despite our balance of payments, it is not in the best interest of the worlds economies to have the dollar depreciate to the extent that he is talking about. Yes, you will have fluctuation but the worlds governments have way to much invested in the dollar to create a detrimental sell off or decline in value.

Nice post Jim…

]]> By: Easy E http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5162 Easy E Tue, 04 Apr 2006 02:03:08 +0000 http://www.bargaineering.com/articles/?p=855#comment-5162 He's right. Cash is not king. Why do we invest? So that we aren't holding onto cash that will be worth less (worthless) in the future. There is a reason that gold is climbing. It's because it is the world's currency, always has been and always will be. It is a way, not the only way, but a way to hold the value of your hard work. I would say to buy land as well as gold, the only thing that will always have value in this world is land. There is no more land to be had, who cares if the price goes down later, you don't sell land to make money, you utilize it. If you think buying and selling is the way to make money you are wrong. Your best bet is to make money from something without having to sell it. Land. He’s right. Cash is not king. Why do we invest? So that we aren’t holding onto cash that will be worth less (worthless) in the future. There is a reason that gold is climbing. It’s because it is the world’s currency, always has been and always will be. It is a way, not the only way, but a way to hold the value of your hard work. I would say to buy land as well as gold, the only thing that will always have value in this world is land. There is no more land to be had, who cares if the price goes down later, you don’t sell land to make money, you utilize it. If you think buying and selling is the way to make money you are wrong. Your best bet is to make money from something without having to sell it. Land.

]]> By: jim http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5161 jim Tue, 04 Apr 2006 01:37:44 +0000 http://www.bargaineering.com/articles/?p=855#comment-5161 KW - I've read John T. Reed's about a thousand times and every time I see another shill on TV selling the next real estate get rich scheme. :) KW – I’ve read John T. Reed’s about a thousand times and every time I see another shill on TV selling the next real estate get rich scheme. :)

]]> By: ~Dawn http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5160 ~Dawn Tue, 04 Apr 2006 01:19:43 +0000 http://www.bargaineering.com/articles/?p=855#comment-5160 Doesn't he have a 50/50 chance of being right, just like any other American out there? Common sense usually gets you the farthest. Of course you can stop the stupid decsions people will make with their money or the governments money. So I give him no better odds than any other well read person out there. WE just love to predict the future, it's fun and man do we feel good when we are right, and if we aren't, well, who remembers anyway. Doesn’t he have a 50/50 chance of being right, just like any other American out there?
Common sense usually gets you the farthest. Of course you can stop the stupid decsions people will make with their money or the governments money. So I give him no better odds than any other well read person out there.
WE just love to predict the future, it’s fun and man do we feel good when we are right, and if we aren’t, well, who remembers anyway.

]]> By: KW http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5159 KW Tue, 04 Apr 2006 00:53:45 +0000 http://www.bargaineering.com/articles/?p=855#comment-5159 Here's an article with a pretty harsh (but powerful) critique of Kiyosaki's book: http://www.johntreed.com/Kiyosaki.html Although the author is himself a real estate professional, he refrains from personal bias in this review. I find it to be objective and well-researched, and the arguments he presents here are very hard to dispute. Here’s an article with a pretty harsh (but powerful) critique of Kiyosaki’s book:

http://www.johntreed.com/Kiyosaki.html

Although the author is himself a real estate professional, he refrains from personal bias in this review. I find it to be objective and well-researched, and the arguments he presents here are very hard to dispute.

]]> By: Herb http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5151 Herb Tue, 04 Apr 2006 00:39:26 +0000 http://www.bargaineering.com/articles/?p=855#comment-5151 Have you read his books? He's one step short of a scam artist, although that might be a bit too harsh. The basic tenant though is probably true; there is already the Euro to compete with and the APAC region is hinting at creating their own currency in the coming decade or so. So, the $ is probably headed for a less distinguished role, and we are pretty fiscally irresponsible. Along with the fact that China and/or India will probably rule this century, since we had the last one, these things all go in cycles (Britain, Spain, France had previous centuries before us) and they've got a lot more people than us :) Doomsday though? I doubt it... It's going to be a long while before anyone else can outstrip our purchasing power, so while they might not like it, I'd expect China will keep taking our money to pay for stuff their people produce. Have you read his books? He’s one step short of a scam artist, although that might be a bit too harsh. The basic tenant though is probably true; there is already the Euro to compete with and the APAC region is hinting at creating their own currency in the coming decade or so. So, the $ is probably headed for a less distinguished role, and we are pretty fiscally irresponsible. Along with the fact that China and/or India will probably rule this century, since we had the last one, these things all go in cycles (Britain, Spain, France had previous centuries before us) and they’ve got a lot more people than us :) Doomsday though? I doubt it… It’s going to be a long while before anyone else can outstrip our purchasing power, so while they might not like it, I’d expect China will keep taking our money to pay for stuff their people produce.

]]> By: blake http://www.bargaineering.com/articles/kiyosakis-american-economic-doomsday.html/comment-page-1#comment-5155 blake Tue, 04 Apr 2006 00:15:44 +0000 http://www.bargaineering.com/articles/?p=855#comment-5155 Hadn't seen this article, but reminds me of his doomsday scenario for when all the boomers are forced to start taking their 401k distributions at age 70... I think the year is 2016 or something, and it's supposed to cause the market to deflate in a rapid sell-off. Isolated, it's an interesting concept, but not one that holds credence if you weigh about fifty gazillion other factors that are likely to change between now an then. Taking advice from people like Kiyosaki, beyond what made them wealthy (i.e. real estate investing in undervalued markets) is foolhardy, since they don't have any experience to back the claims. You don't see folks like Peter Lynch talking about the impending doom of the real estate market, for example. Lynch sticks to stocks - which is what he knows. Kiyosaki's books are all the same - work hard, take risks, be your own boss if you want to make big bucks. Inspirational perhaps, but not too insightful. Hadn’t seen this article, but reminds me of his doomsday scenario for when all the boomers are forced to start taking their 401k distributions at age 70… I think the year is 2016 or something, and it’s supposed to cause the market to deflate in a rapid sell-off. Isolated, it’s an interesting concept, but not one that holds credence if you weigh about fifty gazillion other factors that are likely to change between now an then.

Taking advice from people like Kiyosaki, beyond what made them wealthy (i.e. real estate investing in undervalued markets) is foolhardy, since they don’t have any experience to back the claims. You don’t see folks like Peter Lynch talking about the impending doom of the real estate market, for example. Lynch sticks to stocks – which is what he knows. Kiyosaki’s books are all the same – work hard, take risks, be your own boss if you want to make big bucks. Inspirational perhaps, but not too insightful.

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