With inflation talks, investors have been giving their two cents on what assets they think will last inflation with Mark Cuban, Elon Musk, and now Robert Kiyosaki, the author of Rich Dad Poor Dad, all sharing something in common. Robert Kiyosaki took it to Twitter to reveal the six assets he thinks will do well during inflation.
Robert Kiyosaki Top Six Assets
Robert Kiyosaki said he is buying more silver, gold, rental real estate, oil, and the two top cryptocurrencies, Bitcoin and Ethereum. Although the "biggest crash in history" which Robert Kiyosaki warned has not (and might not) happened yet, the Pew Research Center revealed that the rate of inflation in the United States has gone up by 6.2% in October this year.
The Pew Research Center noted that this is the highest inflation in the United States in over three decades as calculated by the Consumer Price Index. As per their findings, the US ranked third when it came to the highest annual inflation rate between Q3 of 2021 and Q33 of this year, lagging behind Brazil and Turkey.
Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer. Get smart. Get richer. I am buying more gold, silver, Bitcoin, ethereum, rental real estate, and oil. What are you buying?— therealkiyosaki (@theRealKiyosaki) November 24, 2021
$1 Dollar Tree Becomes $1.25 Tree
The tweet initially pointed out the fact that the once strictly $1 Dollar Tree has now become "$1.25 Tree", referring to the 25% price hike as seen on CNN. The company noted that the price rise will be implemented on its products during Q1 of 2022.
This particular change in prices was noted as a sign of the pressure that low-cost retailers are facing during what was referred to as a "period of rising inflation." Robert Kiyosaki used this situation to explain how the initial base point of budget goods at $1 has now risen to $1.25. Robert Kiyosaki revealed the six assets he is buying, including the top two cryptocurrencies as of today.
Robert Kiyosaki on Inflation Affecting the Poor and Middle Class
Robert Kiyosaki explained that "inflation is a tax on the poor and middle class", saying that it will only "make the rich richer." A publication by the American Enterprise Institute says that "inflation won't just hurt the rich" and that the poor and middle-class could suffer as well. The publication clarified that the inflation they meant was the increase in aggregate consumer prices and not the change in relative prices.
Despite the lack of explanation on how the rich get richer during a period of inflation, Robert Kiyosaki urged people to "get smart" and "get rich" before revealing six different assets he thinks will increase in price. Robert Kiyosaki is better known as an investor with a background in conventional stocks and commodities, and although he has only rarely delved into crypto, two of the top cryptocurrencies made it to the top of his list.
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Written by Urian B.