The financial world legend who predicted Lehman Brothers’ collapse is sounding the alarm over America’s “serious” financial troubles.
“I hate to say this because, you know I love America, but America is in serious trouble financially because of the debt load,” Rich Dad Company co-founder Robert Kiyosak said during his appearance on “Cavuto: Coast to Coast” Thursday.
“I think the biggest problem, Neil, is we have the Three Stooges, you know, one in the presidency, one in the Treasury and one at the Fed,” he continued when discussing his outlook on the country’s economic standing.
“America is broke right now,” Kiyosaki told host Neil Cavuto.
In September, U.S. national debt topped $33 trillion for the first time ever, crossing a critical milestone at a time when government spending is already under scrutiny.
“All you do is look at history. Every time they printed money, the empire went down,” he stressed.
Kiyosaki went on to say that the government will continue printing money to pay for the country’s rising debt unless they “cut back on entitlements or the military.”
“We just keep printing money to solve our problems, but we can’t go on much longer,” he warned.
In the latest Fox News poll asking Americans about the state of the economy, just 29% of respondents said the economy has started to turn around, while 67% say the worst is yet to come.
As the 2024 presidential election nears, inflation continues to be the main concern for voters.
“I hate to say this, but inflation is here to stay. Incompetence is here to stay,” Kiyosaki expressed.