Robert Kiyosaki, the well-known financial educator and author of ‘Rich Dad Poor Dad,’ recently used a platform (X) to discuss how inflation affects various economic groups.
Robert Kiyosaki, a financial educator and the author of the popular book “Rich Dad Poor Dad,” used a platform (formerly Twitter) to talk about how inflation affects different groups of people.
Kiyosaki pointed out that inflation affects the poor and the middle class differently than it does the wealthy.
He believes that inflation makes the poor and the middle class less wealthy because they rely on dollars, which lose value.
In contrast, the wealthy focus on assets like gold, silver, and Bitcoin, which tend to increase in value, making them even wealthier.
Recent Inflation Trends in the U.S.
Inflation in the United States has slightly eased recently, meaning that consumer prices are going up more slowly. In September, prices increased by 0.4%, which is less than the 0.6% increase in August. However, when we look at inflation over the entire year, it has remained steady at 3.7%.
If we focus on “core” prices, which don’t include things like food and energy that can change a lot, they went up by 4.1% compared to the previous year. This is a bit less than the 4.3% increase we saw in August and the smallest increase in two years.
Even with these changes, the prices are still going up faster than the Federal Reserve’s target of 2%. But experts think these numbers won’t have a big impact on what the Federal Reserve plans to do because they were already expecting inflation to slow down.
Austan Goolsbee, who is the president of the Chicago Fed, is confident that this drop in inflation is not just a temporary thing.
There’s an ongoing discussion among Federal Reserve officials about whether they’ll need to make more changes to the benchmark policy rate later this year.
Kiyosaki’s Latest Bitcoin Insights
Kiyosaki has been talking about Bitcoin quite a bit in the past month. He shared thoughts in September about hyperinflation, which makes money lose its value. He advised people to invest in things like gold, silver, and Bitcoin.
In another post, he talked about central bank digital currencies (CBDCs) that are on the way. He raised concerns about privacy with CBDCs and suggested that regular assets and cash could become more important when CBDCs become widespread.
However, Kiyosaki doesn’t always have positive things to say about Bitcoin. He also commented on Citibank’s plan to use blockchain technology for quick cross-border transactions, which made him question what this could mean for the future of Bitcoin and the U.S. dollar.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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