Best-selling author Robert Kiyosaki says the US economy is about to witness major turbulence after Fitch downgraded the United States’ credit rating.
Last week, the credit rating agency cut its long-term US stance from “AAA,” denoting the lowest expectation of default risk, to “AA+,” a designation given to countries with low expectations of default risk.
According to Fitch, the move is due to the country’s expected fiscal deterioration over the coming years along with the government’s rapidly expanding debt burden.
The Rich Dad Poor Dad author says the downgrade suggests that rough times are ahead for the US economy.
“First shoe to drop. Fitch rating services downgrades the US credit rating from AAA to AA+. Brace for a crash landing.
Sorry for the bad news yet I have been warning for over a year. The Fed, Treasury, and big corporation CEOs have been smoking fantasy weed. Take care.”Â
Last month, Kiyosaki warned that the US is about to witness a historic downturn. He said there are too many signs that the stock market is heading for a severe crash and that a potential economic depression is coming.
Considering his outlook on the economy, the personal finance author said that he will continue to invest in “real money and real assets” such as gold, silver and Bitcoin (BTC).
Kiyosaki is known for anticipating the 2008 financial crisis, although he predicted the crash would happen sooner than it did.
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