A financial advice author, a ‘Trillion-$-Man’ and a market forecasting service all concur; this October looks as dangerous as any in history
Author Robert Kiyosaki , whose book “Rich Dad Poor Dad” has been near the top of the bestseller charts since the ‘90s, says “The whole market, including Bitcoin, gold, stocks, is about to face a serious crash in October”
Speaking to Michelle Makori, editor-in-chief of Kitco News during a tour in support of his new book “The Capitalist Manifesto,” which he says touches on social-economic developments in the U.S., and posits that writing the government is exercising more totalitarian control measures of the populace.
His political views took a hit during the last days of Trump, when he published several books touting the policies of the Trump administration and posed in fan-like photos appearing to believe he could profit off the association with the soon to be ex-President.
Politics, and financial advice, it seems makes for strange bedfellows.
In a headline grabbing quote he also stated, unequivocally:
“It’s going to be the biggest crash in world history.–Author Robert Kiyosaki
Legitimate and established forecasters also see danger ahead
Elliott Wave International, and founder Robert Prechter are also predicting a similar crash scenario for October. After predicting, well in advance, the dot-com crash in 2000 and the housing bubble bursting in 2007-2008, they have a track record to be taken seriously.
Unlike Kiyosaki they do not think the bear market will end in a flash, like what happened in March of 2020 when the fastest drop to a correction level in history occurred, followed by a 18 month rebound that appears now to be coming to an end.
For more in depth detail on what they believe we are facing in the coming year, it’s worth considering signing up for one of their market forecasting services, and subscription newsletters or browsing the voluminous free information on the Elliottwave.com web site.
Another known market commentator concurs and warns of downturn
Self-proclaimed ‘Trillion-Dollar Man’ Dan Peña, is founder and chairman of The Guthrie Group, an investment consortium. He gave himself the moniker after, according to his count, graduates of his executive-coaching program, Quantum Leap Advantage (QLA), produced over $1 trillion of value since its 1993 inception.
Referring to the new generation of bullish investors he said, “Other than the 90-day recession we had last year, they’ve never seen a down market,” he said. “We’ve been in a bull market for 12 years in just about everything. They haven’t experienced it when the shit really hits the fan.”
Peña explained while speaking at his “Castle Seminar” in July 2021 that he believes that the US stock market is barreling towards disaster thanks to a lethal cocktail of excessive debt, artificially low interest rates, inflated asset prices, and too many unsophisticated investors. He now follows that up with renewed caution as market weakness is emerging at the start of October, a month notorious for crash events.
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