Financial expert Robert Kiyosaki predicts a dire fate for the US state of California.
The Rich Dad Company co-founder warned Monday during an appearance on “The Big Money Show” that California is “going bankrupt” due to financial mismanagement and residents fleeing the state.
Kiyosaki, who predicted the collapse of Lehman Brothers in 2008, said California was a “bellwether state” that could bring down other states that follow its progressive policies.
The financial expert’s comments echo criticism he posted about the state in July on “X.”
“California is a bellwether state, which means what happens in California happens in the rest of the United States,” Kiyosaki told users.
“California will start raising taxes and cutting subsidies to the poor, prisons, the environment and teachers unions, which means cuts to police and rampant crime. California is a bellwether state and it’s going bankrupt, so what state is going to follow?” he says. I wrote in the post.
Kiyosaki acknowledged that he had moved out of state and asked his customers if it was time for them to do the same.
Earlier this year, more than 86% of California business owners said crime was increasing in their area, and 67% of the same survey claimed they were considering relocating their headquarters out of California, a February survey by Red Balloon and Public Square found. Free Economy Index.
“You know, I think it’s interesting that Elon Musk, one of the greatest entrepreneurs of our time, is leaving. What do you think this means?” he asked.
In a post on ‘X,’ the tech pioneer announced he would be relocating SpaceX and its headquarters to Texas, citing California laws that attack “both families and businesses” as his “final push.”
FOX Business’ Kristen Altas and Joshua Nelson contributed to this report..
