One of the country’s leading financial gurus is sounding the alarm over America’s “serious” financial troubles.
The Wall Street legend who predicted the 2008 Lehman Brothers’ collapse, is warning that “incompetence” in Democrat President Joe Biden’s economy is driving the United States toward collapse.
“I hate to say this because, you know I love America,” Rich Dad Company co-founder Robert Kiyosaki said during a recent appearance on “Cavuto: Coast to Coast.”
“But America is in serious trouble financially because of the debt load.”
Kiyosaki continued by explaining that the Biden admin is sinking the U.S. into unrecoverable debt.
He likens Biden and his administration’s economic officials to the classic slapstick trio “The Three Stooges.”
“I think the biggest problem, Neil, is we have the Three Stooges, you know, one in the presidency, one in the Treasury, and one at the Fed,” he continued when discussing his outlook on the country’s economic standing.
“America is broke right now,” Kiyosaki told host Neil Cavuto.
In September, the U.S. national debt topped $33 trillion for the first time ever.
The figure crossed a critical milestone at a time when government spending is already under scrutiny.
That number is now already close to $34 trillion.
“All you do is look at history,” he stressed.
“Every time they printed money, the empire went down.”
Kiyosaki went on to say that the government will continue printing money to pay for the country’s rising debt unless they “cut back on entitlements or the military.”
“We just keep printing money to solve our problems, but we can’t go on much longer,” he warned.
A recent Fox News poll asked Americans about the state of the economy.
Just 29% of respondents said the economy has started to turn around.
Meanwhile, 67% say the worst is yet to come.
As the 2024 presidential election nears, inflation continues to be the main concern for voters.
“I hate to say this, but inflation is here to stay,” Kiyosaki expressed.
“Incompetence is here to stay.”