Robert Kiyosaki

‘Rich Dad, Poor Dad’ author Robert Kiyosaki fears a Australian property crash

PHOTO: The bestselling author if ‘Rich Dad, Poor Dad’ fears Australia’s share market and property prices will crash as a result of too much Covid-induced government spending. Robert Kiyosaki (pictured left with wife Kim) is worried about another Great Depression with the pandemic creating an asset bubble unseen in more than 90 years

The bestselling author of ‘Rich Dad, Poor Dad’ fears Australia’s share market and property prices will crash as a result of too much Covid-induced government spending.

Robert Kiyosaki is worried about another Great Depression with the pandemic creating an asset bubble unseen in more than 90 years.

A stock market crash in 1929 led to a prolonged economic slump, where businesses lost the confidence to invest without government help, pushing unemployment to 32 per cent by 1932.

‘I would say it’s a very close comparison to 1929,’ he told Daily Mail Australia from Arizona.

‘Right now, my friend, we’re beyond a bubble, we’re in a mania.

‘Right now, the whole world’s in a bubble, how long it’s going to crash, I don’t know.’

Mr Kiyosaki said massive government money printing across the world had the potential to cause massive inflationary problems, even though Australia’s consumer price index is now at just 1.1 per cent.

‘This is the biggest bubble in world history,’ he said.

Since the onset of the pandemic in March 2020, the Australian government has spent $300billion on Covid stimulus measures, including $90billion JobKeeper wage subsidies which finished on March 28.

READ MORE VIA THE DAILY MAIL