Robert Kiyosaki, the financial educator, popularly known as Rich Dad, has been outspoken in denouncing real estate as an investment alternative, but has now changed his mind.

taking on twitter Over the weekend, Kiyosaki noted that he described, in his new book for 2022, called The Capitalist Manifesto, how a Marxist now rules the United States.

As Kiyosaki describes it, under the Marxist government, property taxes will be raised, rent controls will be imposed, and interest rates will also be increased. According to him, all these events will continue to affect the value of property taxes.

Starting from the COVID-19 pandemic period that started in the first quarter of 2020, the government has taken two distinctly different directions when it comes to interest rates in the country. At first, the interest rate was cut to zero as the government tried to help cushion the economy hit hard by closures and layoffs that hit businesses.

The government later changed course when it found that the economy had somewhat recovered from the pains of the COVID-19 pandemic. The government started raising interest rates this year, and according to general statistics, the real estate industry has seen generally low listings as prices are not favorable to buyers.

Despite the current economic conditions affecting all asset classes, Robert Kiyosaki revealed that he recommends Bitcoin as a reliable investment asset. Unusually, the financial guru also noted that he is classifying gold and silver along with asset classes that can serve as a good hedge against current inflation.

It has been a rollercoaster ride for the US Federal Reserve as its interest rate hikes, aimed at controlling inflation, have not helped much, with the latest inflation figure pegged at around 8.2% for September. .

While the price of Bitcoin is not particularly encouraging considering its deviation from its all-time high (ATH) value in November of last year, the coin is backed by strong fundamentals that can fuel its growth in both the medium and long term. long-term.

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