Why the Rich are Getting Richer by Robert Kiyosaki



Advertisement

This subject, “wealth and income inequality” is the biggest moral crisis, and I’ll also say it’s a spiritual crisis in America today, all around the world. This gap between the rich and everybody else is reaching critical proportions. I think one of the biggest crises of young people, today’s young unemployed becomes tomorrow’s unemployable; they lose valuable job training skills…

I’m going to show, as a picture is worth a thousand words, I’ll just show you some pictures about how rapidly this inequality, as well as the opportunity inequality, is growing.

money photo

Advertisement

What’s happening in America today is savers are losers. Most parents say the kids go to school, save money, and work hard, but in 1970, when I graduated from school, 1 million dollars at 15% interest earned me 150,000 a year. Now, you could live on 150,000 dollars a year back then. But in 2016, do this thing called quantitative easing, I called it the Greenspan Put.

It’s one million dollars at negative 0.05%, it’s going to cost you a million dollars to save a million dollars.

That is how deteriorated our financial systems have become, and this is one of the causes of the gap between the rich and the poor. Another thing is that fewer and fewer families are receiving middle-class incomes; it’s going down…

Every time we shop at Walmart, we ship dollars and jobs over to China, and Pakistan, and all the other countries.

Advertisement