The ongoing US stocks turmoil will be the biggest crash in history, surpassing the 1929 market collapse that led to the Great Depression, a US investor who has co-authored two books with Donald Trump has warned.
Investor and author Robert Kiyosaki, best known for his book Rich Dad Poor Dad, had earlier on January 27 warned that February 2025 will witness the “biggest stock market crash in history.”
He argued that the crash will trigger massive sales of cars, houses, and, most importantly, stocks and bonds.
Kiyosaki has authored 27 books, including two co-written with Trump before he became the US President.
In his latest post on X, Kiyosaki said the “everything bubble” was bursting, and blamed economic policies in Germany, Japan, and the US for leading to the crisis.
"THE EVERYTHING BUBBLE is bursting. I am afraid this crash may be the biggest in history. Germany, Japan, and America have been the engines up to now. Unfortunately, our incompetent leaders led us into a trap….giant crash," he wrote on Tuesday.
Trump’s tariff wars have increased economic uncertainty. Bloomberg reported that five of the billionaires who attended Trump's inauguration have lost a combined $210 billion in wealth since then.
Kiyosaki referred to his book Rich Dad’s, where he had earlier predicted a major market downturn. "This crash is going to be bigger than the 1929 Crash…. A crash that led to the Great Depression," he said.
He urged people not to panic. "It is normal to be disturbed and fearful…. Just do not panic. Be stoic, which means keep your cool, take deep breaths, keep your eyes wide open and mouth shut."
The entrepreneur believes that while many will suffer losses, the situation could also present investment opportunities.
"While millions will be crushed….you do not have to be one of them. In 2008, I waited…letting the panic and dust settle and then started to look for great real assets on sale…. At deep discounts."
"Simply said, this crash the world is going through…..just might be the opportunity of your lifetime. Be stoic and be cool no matter how turbulent things get," Kiyosaki added.
The investor said he will continue investing in real estate, gold, silver, and Bitcoin, seeing them as assets available "on sale."
