Hi Team,
Apparently somewhere between ’06 – ’08 the whole world will enter into an economic depression. Kiyosaki and other insiders have made commentary on this theory.
Can anyone here give us some insight in regards to Australia?
Buy IP’s now or hold?[cigar]Kiosaki made velcro surf wallets and now tours the world speaking to people about how to make money from anything other than making velcro surf wallets…how is he an insider??
Most real economists see steady world growth with China continuing to grow as a global power house..I know that not very exciting but it coming from people who may not know how to sew up a velcro surf wallet but they do have more idea as to how the world economy actully works.
loan,
I have to agree with Nat here- I kind of wanted to laugh when I saw Kiyosaki being spoken of in relation to economics. I guess if he knew about such things, his first book would have been titled, “Neo-Liberal Economy, Political Economy” instead of Rich Dad Poor Dad.
I doubt there will be a global recession, personally- just thoughts of a laybear here- but I have been reading some interesting articles on the American RE bubble lately. I hope people are considering an exit strategy, or it will be foreclosure city there in a year, I reckon.
kay henry
Kiyosaki’s got the runs on the board in all aspects of investing,can’t argue with that to much.
I thought he said around 2015 would be the bust of all busts!!!In Australia people are predicting 9% int rates,can’t see it happening 2008
I work with quite a few Americans in my job, most of them coming from either California or Mexico dodging their own IRS. They all say their local markets are going nuts, and have been for a few years.
On the other hand, just read that article about Steve buying 30 houses in the US and reckons there are bargains everywhere.
Perhaps the US real estate market is just a tad too big to draw any meaningful conclusions in a sentence or two.
People asking all of these major trends – IMHO – are way off track. Get down into the weeds and discuss the intricate details of individual IP’s, pertaining specifically to that locality.
One cannot purchase “the US RE market”, or “the Australian property market”. Other than LPT’s and the like, you are actually buying a tiny little specific individual piece of real estate. Concentrating on those details and how that tiny little piece actually generates wealth / income is what you should be looking at.
Let’s get down and dirty with specific property details.
Executive summaries and global trends be gone !!
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
One cannot purchase “the US RE market”, or “the Australian property market”. Other than LPT’s and the like, you are actually buying a tiny little specific individual piece of real estate. Concentrating on those details and how that tiny little piece actually generates wealth / income is what you should be looking at.Exactly!!
We are likly to see a boom in the usa before any recession. However if you look at the amount of money around you only have to look at the Federal surplus. It is unlikley that we will look at any real problem for some time to come. I take little notice of economists. If current figurs are correct, they suggest we will have double the number over 65 by 2020 and only 5% of people entering the workforce for the first time compared to today. Should this happen we would have to see at best a major slow down in Western Economies at worst a major recession. I think most of this decade will be great, from 2010 -2015 we will see the economy retract, beyong that who knows.
Nigel Kibel
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any money.. and had this talk over and over with many people…
we will see the biggest crash, recession, depression in all history occur in 2010 – 2011… (pretty much in that one year..)
anyways.. im happy to bet anyone that, that year we will experience the crash.. as most days, im dreaming and planning on how to tackle the crash head on…
Cheers,
sisI also think that Kiyosaki’s prediction which he did base on economic cycles ie. we are over due historically for another depression (1 every 80 years?) is long over due. I also realize that it made me buy more of his books! As Kiyosaki has stated, he is acknowleged as a ‘worlds best author’ (or words to that effect).
Cheers,
Gatsby.“Sometimes the hardest thing to do in life is often the best thing to do.”
Hi SIS,
What do you think will be the major influence in this recession in 2011?
Do you think the Baby Boomers will play the biggest part of this as expected?
What are peoples thoughts?Where does all their information comes from?
Me,being a realist, means I don’t believe one bit of this crap.
I wouldn’t read a Kiyosaki book after reading Rich Dad,Poor dad.Pure fiction.Maybe I should buy myself a crystal ball so I can predict future events.Like when will my lotto numbers come up? I might then buy a lotto ticket.
If any of the above posters believe such crap, then you should be selling absolutely everything you own. Converting assets into cash.
In depressions cash is king.
Owning property in a depression will put all of “us” into bankruptcy. That is unless we buy at depression prices.
My thoughts.bruham.
Perhaps before accepting or rejecting Kiyosaki’s theory we should consider what he said, rather than who or what he is?
Basic idea – millions of boomers retire, starting around 2010 at at 60, and accelerating thereafter. Pension funds need cash to pay the boomers and therefore start selling their stocks. Stocks go into free fall, panic, market crashes.
And for some reason real estate crashes too.
Now let’s inject a few facts. Superannuation schemes and their American equivalents are relatively new beasts – the boomers have less in them than they should. They’ll be on welfare, not pulling funds out of the market. Many of the heavily invested boomers got wiped out n the tech crash so their current holdings are lower than they might otherwise be. So withdrawals are lower than is being suggested.
Many more workers now all contributing to super at higher rates – there is more, and growing demand for shares. If the boomer funds have to sell, others are going to have to buy, putting a floor under the market.
Small quiz – what was the year of highest population increase in Australia? 1974! Those workers will only be 40, in the prime of earning life and 20 years to go to retirement when the supposed crash is happening.
Now suppose I’m wrong about this and the paper fortunes are wiped out. Real estate will go up as investors liquidate and search for a safer option.
And that’s why it’s crap – nothing to do with surfer wallets.
he is acknowleged as a ‘worlds best author’ (or words to that effect)???
I have heard of him being called a best seller, that only means that he sells a lot of books.
What do you have to do to sell lots of books? Tell people what they want to hear.
Rich dad poor dad, was my introduction to the world of investing, however after haveing found out that “rich dad” is merely a fictional character I now don’t just believe everything he types, which i suppose is the way it should be.
Originally posted by Still in School:any money.. and had this talk over and over with many people…
we will see the biggest crash, recession, depression in all history occur in 2010 – 2011… (pretty much in that one year..)
anyways.. im happy to bet anyone that, that year we will experience the crash.. as most days, im dreaming and planning on how to tackle the crash head on…
Cheers,
sisI think negative sentiment will derail the economy before the boomers retiring will.
“Cash is King” is often promulgated as the ideal situation for depressions….true, but what then if there is rampant inflation?
In the coming financial apocalypse, I say “Liquidity is King”! Apart from a few core investments that have been in place since Adam was a boy, I like the idea of being able to put my money in any of a selection of assets (or derivitaves thereof) with a few keystrokes…hedging and hopefully profiting from any eventuality.
Cheers
Postman,
I think your post clarifies what mine was trying to highlight more accurately.
Cheers,
Gatsby.“Sometimes the hardest thing to do in life is often the best thing to do.”
The major flaw with the idea that we must have a derpression every 80 years is that the collective central banks ability to manage the world economy and the freedom of capital across borders is far greater now that it was 80 or 160 years past.
Its sorta like saying we are due for a black plauge or polio epidemic because we haven’t had one for 150 years…the reson we havn’t had one is modern medicine….its nothing to do with number of years elasped.
As for Koisaki being a word class writer…I agree with what somebody posted above..he has become a best seller by working out what people, who feel they are missing out on something and need somebody they have never met to tell them how to fix their life, want to hear and writing it down for them using language a kindergarden student would think was oversimplistic…facts, figures or reality are not always neccesary or even welocme.
Is Rich Dad really a fictional character? I saw RK in an interview one time talking about him. That’s a little disturbing.
Santa’s still real though right?[eh]
Originally posted by Postman:he is acknowleged as a ‘worlds best author’ (or words to that effect)???
I have heard of him being called a best seller, that only means that he sells a lot of books.
What do you have to do to sell lots of books? Tell people what they want to hear.
Rich dad poor dad, was my introduction to the world of investing, however after haveing found out that “rich dad” is merely a fictional character I now don’t just believe everything he types, which i suppose is the way it should be.
I’ve been to RK’s intro talk out of curiosity .
He refer’s himself as a ” Best Selling Author ” and is the first to admitt he is no literary genius. He talked abut an interview where he was described by the interviewer as a ” Best Author ” , and says he was quick to point out this error to the interviewer.
He may not be the most “educated ” person around in terms of formal education , but he is pretty cluey , and people much smarter than him advising him .
See Change
Well I hate to admit to being a simpleton, haha, but if I hadn’t read RK I wouldn’t have made 2 purchases and 2 sales of property. Hence I wouldn’t have discovered this site.
Dazzling, I think you’re spot on, man. Due diligence is require for each individual IP. I think keeping basics in mind ie close to services, banks, shops, CBD etc is 1 of the best criteria particularly in a depression, I think??
Who said ‘Theres no Santa?!'[biggrin][biggrin]
Originally posted by loanwolf:Well I hate to admit to being a simpleton, haha, but if I hadn’t read RK I wouldn’t have made 2 purchases and 2 sales of property. Hence I wouldn’t have discovered this site.
Dazzling, I think you’re spot on, man. Due diligence is require for each individual IP. I think keeping basics in mind ie close to services, banks, shops, CBD etc is 1 of the best criteria particularly in a depression, I think??
Who said ‘Theres no Santa?!'[biggrin][biggrin]
I’m in the same boat. Hearing Robert Kiyosaki being interviewed on ABC radio , triggered me on the Wealth Creation pathway and Rich Dad , Poor dad certainly changed the way I look at things and it still does.
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