I ran across this a little while ago:
http://www.richdad.com/pages/article_dollar_crisis.asp
This guy is a Real Estate investor/ entrepreneur... Some of you may have heard of him, he wrote the book, "Rich Dad, Poor Dad"....
Interesting perspective. I have similiar material in here in the Economics section regarding an upcoming global economic crash....
jdelagado
PeakOil is You
Robert Kiyosaki's "All Booms go Bust" R.E. article
First unread post • 12 posts
• Page 1 of 1
Robert Kiyosaki's "All Booms go Bust" R.E. article
by Jdelagado » Sat 25 Jun 2005, 21:07:45
-
Jdelagado - Peat
- Posts: 140
- Joined: Fri 29 Apr 2005, 03:00:00
- Location: Phoenix
by jupiter422 » Sat 25 Jun 2005, 21:53:07
I have read the book it's actually very good ,Rich dad poor dad. I actuall y liked the author. 
-
jupiter422 - Peat
- Posts: 129
- Joined: Mon 21 Mar 2005, 04:00:00
- Location: Escondido
Read Rich Dad's Prophecy
by ubercynicmeister » Sat 25 Jun 2005, 23:11:52
PLEASE PLEASE PLEASE, do yourself a favour and read "Rich Dad's prophecy"...it sorta mentions Peak Oil obliquely, but what it concentrates on is the Employee Retirement Income Security Act (ERISA). This is the United States' way of providing "superannuation" via the stock market, and almost all, if not all, Western countries (including my own, Australia) have decided to follow Uncle Sam.
This lil beauty will provide us all with ring-side seats to the the DOWN side of stock-market-based "superannuation" when, in 2016, the ERISA act requires ALL 75 million Baby Boomers who turn 70 in that year to, pull out their ENTIRE stock-market portfolio. This is to allow the Tax Dept to take the taxation owing on the accounts.
Even if Peak Oil hasn't hit by that stage, or if Peak Oil is a "non event" (please note here and note well: I beleive that Peak Oil is gunna happen), but even if it doesn't, the ERISA act will cause a financial melt-down that will make the Wall Street Crash of 1929 look like a PICNIC.
It's fully explained in Rich Dad's prophecy (along with some oblique references to the price of Oil & how Oil may well become scarce in the years to come), though the work doesn't mention Peak Oil by name, as such.
Admittedly, I wouldn't use the majority of Robert Kyosaki's books to line the bottom of a bird cage, but THIS book is a-must-read.
It's why Peak Oil would occour, even if we had 20 times the amount of oil. Why? Because of an "interest rate, fiat-currency-using, growth-based economy"
This lil beauty will provide us all with ring-side seats to the the DOWN side of stock-market-based "superannuation" when, in 2016, the ERISA act requires ALL 75 million Baby Boomers who turn 70 in that year to, pull out their ENTIRE stock-market portfolio. This is to allow the Tax Dept to take the taxation owing on the accounts.
Even if Peak Oil hasn't hit by that stage, or if Peak Oil is a "non event" (please note here and note well: I beleive that Peak Oil is gunna happen), but even if it doesn't, the ERISA act will cause a financial melt-down that will make the Wall Street Crash of 1929 look like a PICNIC.
It's fully explained in Rich Dad's prophecy (along with some oblique references to the price of Oil & how Oil may well become scarce in the years to come), though the work doesn't mention Peak Oil by name, as such.
Admittedly, I wouldn't use the majority of Robert Kyosaki's books to line the bottom of a bird cage, but THIS book is a-must-read.
It's why Peak Oil would occour, even if we had 20 times the amount of oil. Why? Because of an "interest rate, fiat-currency-using, growth-based economy"
-
ubercynicmeister - Tar Sands
- Posts: 640
- Joined: Sun 25 Jul 2004, 03:00:00
- Location: Hunter Valley, New South Wales, Australia
by I_Like_Plants » Sat 25 Jun 2005, 23:25:25
RUN!!!!!! don't walk, RUN!!!! far, far FAR away from anything by Kiyosaki.
Read John T. Reed's analysis of Kiyosaki on his site, www.johntreed.com Kiyo's in the rogue's gallery of "real estate gurus" almost all of which are or were con artists who could not manage their own finances.
Reed's site is fascinating in its own anyway, if you play or are interested in playing real estate you want to listen to what he has to say, and probably subscribe to his newsletter.
Read John T. Reed's analysis of Kiyosaki on his site, www.johntreed.com Kiyo's in the rogue's gallery of "real estate gurus" almost all of which are or were con artists who could not manage their own finances.
Reed's site is fascinating in its own anyway, if you play or are interested in playing real estate you want to listen to what he has to say, and probably subscribe to his newsletter.
- I_Like_Plants
- Intermediate Crude
- Posts: 3839
- Joined: Sun 12 Jun 2005, 03:00:00
- Location: 1st territorial capitol of AZ
I actually read that tirade against Kiyosaki
by mefistofeles » Sun 26 Jun 2005, 05:07:26
I actually read that tirade against Kiyosaki and can't say tha it wasn't completely unjustified. However many prominent people believe that an "event" with the dollar will occur.
Most notably Warren Buffet who penned a nice article for fortune and PBS.
Of course there is are Brad Setser and Nouriel Roubini of RGE Monitor . Who have also written an excellent piece on the unsustainability of the US trade deficit.
I have also read Richard Duncan's book Dollar Crisis and really is a superb and informative book on imbalances caused by our dollar based financial system.
So yes even though Kiyosaki may have his flaws Richard Duncan's book is excellent and his opinion is by no means an extreme one.
Of course since peak oilers are probably who prefer reality to candy coated illusions this wonderful book will probably cause some of you to loss a few minutes of sleep at night.
Regarding education I have to agree with Reed's critique in a way. I've found that when you combine several different disciplines to a problem it can yield incredible insights and solutions. For example I used to work in audio company as a result I built a rocking computer audio system with a 760 watt power amplifier and a big 18 inch subwoofer. So when I played Max Payne it was an quite an intense experience.
Personally I also think this is true with wealth as well. I was meeting with a stock broker who was advising a mutual client of ours to liquidate their position in a natural resource fund. Now anyone who visits this website with any frequency knows exactly where oil prices are headed. So I informed him that probably wasn't the smartest thing to do.
Although I'm not wealthy I strongly feel that the ability to bring multiple skills sets to bear on a problem can create great results through "out of the box" thinking.
Most notably Warren Buffet who penned a nice article for fortune and PBS.
Of course there is are Brad Setser and Nouriel Roubini of RGE Monitor . Who have also written an excellent piece on the unsustainability of the US trade deficit.
I have also read Richard Duncan's book Dollar Crisis and really is a superb and informative book on imbalances caused by our dollar based financial system.
So yes even though Kiyosaki may have his flaws Richard Duncan's book is excellent and his opinion is by no means an extreme one.
Of course since peak oilers are probably who prefer reality to candy coated illusions this wonderful book will probably cause some of you to loss a few minutes of sleep at night.
Regarding education I have to agree with Reed's critique in a way. I've found that when you combine several different disciplines to a problem it can yield incredible insights and solutions. For example I used to work in audio company as a result I built a rocking computer audio system with a 760 watt power amplifier and a big 18 inch subwoofer. So when I played Max Payne it was an quite an intense experience.
Personally I also think this is true with wealth as well. I was meeting with a stock broker who was advising a mutual client of ours to liquidate their position in a natural resource fund. Now anyone who visits this website with any frequency knows exactly where oil prices are headed. So I informed him that probably wasn't the smartest thing to do.
Although I'm not wealthy I strongly feel that the ability to bring multiple skills sets to bear on a problem can create great results through "out of the box" thinking.
-
mefistofeles - Coal
- Posts: 420
- Joined: Mon 21 Mar 2005, 04:00:00
by BorneoRagnarok » Sun 26 Jun 2005, 06:40:29
$this->bbcode_second_pass_quote('I_Like_Plants', '
')Read John T. Reed's analysis of Kiyosaki on his site, www.johntreed.com Kiyo's in the rogue's gallery of "real estate gurus" almost all of which are or were con artists who could not manage their own finances.
')Read John T. Reed's analysis of Kiyosaki on his site, www.johntreed.com Kiyo's in the rogue's gallery of "real estate gurus" almost all of which are or were con artists who could not manage their own finances.
Yup , quite true. Here in Borneo the Amway cult adapted 'Rich Dad Poor Dad' as their financial bible. Most members are broke due to the amount of fund sucks by Amway. The second most dangerous cult after Moonies.
http://www.amquix.info/
http://www.johntreed.com/Kiyosaki.html
$this->bbcode_second_pass_quote('', '
')If the advice of “Rich Dad” back in 1955 was so great, how come Kiyosaki was homeless and bankrupt 30 years later? What kind of financial genius does it take to be homeless and bankrupt when you are a college graduate who had no student loans and were trained as a helicopter pilot by the military. (Actually, I got his military records. They show no flight school and no pilot’s wings. See below.) With all those advantages, and “Rich Dad’s” brilliant financial advice, the guy still ends up homeless at age 38? And if “Rich Dad’s” advice wasn’t good enough to keep Kiyosaki from becoming homeless in 1985, how did it suddenly become something the rest of us should be following in 1997?
When all the rivers run dry, all the forests have been cleared, all the food has been eaten, tell me the value of your money
-
BorneoRagnarok - Lignite
- Posts: 242
- Joined: Sat 18 Sep 2004, 03:00:00
- Location: East Malaysia
by Leanan » Sun 26 Jun 2005, 08:31:10
I'm an agnostic on Kiyosaki. I think he has some great advice, but I also think it's impossible for most people to follow it.
The fact that he's been broke and homeless is a case in point. He says he may have been broke, but he was still rich - because he understood how to make money.
Of course, making money usually requires taking some kind of risk. Including the risk of ending up broke and homeless. Probably most people who hit it big have also hit lows that ordinary folk wouldn't want to risk. Most people simply aren't willing to take that sort of risk - and probably shouldn't.
Kiyosaki doesn't claim his Rich Dad's advice means you'll never be broke. You may end up broke sometimes...but if you understand finances, you can always make more money and become wealthy again. That is his claim.
I probably will read "Prophecy." I hadn't realized Kiyosaki had concerns about oil depletion.
The fact that he's been broke and homeless is a case in point. He says he may have been broke, but he was still rich - because he understood how to make money.
Of course, making money usually requires taking some kind of risk. Including the risk of ending up broke and homeless. Probably most people who hit it big have also hit lows that ordinary folk wouldn't want to risk. Most people simply aren't willing to take that sort of risk - and probably shouldn't.
Kiyosaki doesn't claim his Rich Dad's advice means you'll never be broke. You may end up broke sometimes...but if you understand finances, you can always make more money and become wealthy again. That is his claim.
I probably will read "Prophecy." I hadn't realized Kiyosaki had concerns about oil depletion.
-
Leanan - News Editor
- Posts: 4582
- Joined: Thu 20 May 2004, 03:00:00
by shakespear1 » Sun 26 Jun 2005, 10:43:13
It is amazing how people get sucked into the AMWAY dream. Even poor Russia I found someone selling their stuff at crazy prices as compared to olcal salaries.
PO web has people that have pointed me to many interesting investment sites and analysis of current economic situation. Here is one you should check out
http://www.financialsense.com/resources/commentary.htm
Enjoy
Buyer Beware
PO web has people that have pointed me to many interesting investment sites and analysis of current economic situation. Here is one you should check out
http://www.financialsense.com/resources/commentary.htm
Enjoy
Buyer Beware
Men argue, nature acts !
Voltaire
"...In the absence of the gold standard, there is no way to protect savings from confiscation through inflation."
Alan Greenspan
Voltaire
"...In the absence of the gold standard, there is no way to protect savings from confiscation through inflation."
Alan Greenspan
- shakespear1
- Heavy Crude
- Posts: 1532
- Joined: Fri 13 May 2005, 03:00:00
by smiley » Sun 26 Jun 2005, 14:35:57
$this->bbcode_second_pass_quote('', 'P')O web has people that have pointed me to many interesting investment sites and analysis of current economic situation. Here is one you should check out
I agree Puplava is great
If you're interested in learning something about economy and have a good laugh along the way try the Mogambo.
http://www.dailyreckoning.com/Writers/MogamboGuru.html
-
smiley - Intermediate Crude
- Posts: 2274
- Joined: Fri 16 Apr 2004, 03:00:00
- Location: Europe
, but his visions in "Phrophecy" are even more pertinent now than they were back when he wrote the book; especially his discussion on social security.