“Rich dad, poor dad” and personal finance author Robert Kiyosaki says the US faces a future of unprecedented economic pain.

During a current video interaction, says Kiyosaki, rising inflation, social security deficits and health care funding are the key factors affecting the economy. This will affect a large number of baby boomers.

“The biggest losers are people who have never lost. These are the people sitting on their 401k right now. my generation The previous generation. They’re in serious trouble,” says Kiyosaki.

He adds that the baby boomers will be the biggest losers because they were taught not to make mistakes and haven’t lost yet. That’s because they had it so easy.

“When they came out in the ’70s, the stock market took off; the real estate market took off. The US abolished the gold standard in 1971. So the baby boomers will get the greatest shellac of all generations. It’s really sad. I can see it coming,” says Kiyosaki.

Also read: Rich Dad, Poor Dad Author Says Elon Musk Posted “Rats and Rodents” Running For Cover on Twitter

In early May, he warned that rising inflation would wipe out 50% of the US population.

“America has stopped producing products; we are producing bubbles,” he said, adding that we now have bubbles in the real estate market, the stock market and the bond market.

Recently talked about the crypto market and in particular about Bitcoin BTC/USDhe said he is taking an opportunity after the decline.

He tweeted that he was waiting for BTC to collapse.

BITCOIN CRASH. Great news. As mentioned in previous tweets, I’m waiting for Bitcoin to crash to 20,000. I will then wait for the test of the bottom which could be around $17k. As soon as I know the floor is in, I back the truck up. Crashes are the best times to get rich. Watch after.

— therealkiyosaki (@theRealKiyosaki) May 12, 2022

Photo: Created with an image provided by Gage Skidmore via Wikipedia

This article was originally published on May 14th.