KRE - 'Rich Dad Poor Dad' Author Warns 'Baby Boomers To Go Bust' Because China-Like Crisis Is Coming To America: 'Get Real' | Benzinga
“Rich Dad Poor Dad” author Robert Kiyosaki issued a dire prediction for baby boomers, the demographic group born between 1946 and 1964, on Friday.
What Happened: In a post on X, formerly Twitter, Kiyosaki warned, “BOOMERS to go BUST.” He attributed this concern to the recent collapse of a major entity in China. While he did not specify the exact bank, it’s likely a reference to the struggles of Chinese residential property developer Evergrande, which failed to restructure its $300 billion debt and faced liquidation earlier this year. Additionally, Zhongzhi Enterprise Group, a shadow bank that lent billions to real estate firms, declared insolvency.
A Bloomberg report revealed that the Bank Of Communications Co. and Industrial & Commercial Bank of China Ltd reported an increase in bad loans from residential mortgages, signaling trouble ...