'Rich Dad, Poor Dad's' Robert Kiyosaki Says He's $1.2 Billion In Debt Because 'If I Go Bust, The Bank Goes Bust. Not My Problem' - eviltoast
Robert Kiyosaki, a best-selling author and seasoned investor, has a distinct philosophy on debt and investment. In a Nov. 30 Instagram reel, Kiyosaki elaborated on his debt philosophy, highlighting a critical distinction between assets and liabilities. He said many people use debt to buy liabilities, while he uses debt to purchase assets. To illustrate his approach, Kiyosaki said his luxury vehicles, like a Ferrari and a Rolls Royce, are fully paid off, categorizing them as liabilities rather th
  • FuglyDuck@lemmy.worldEnglish
    11·
    10 months ago

    or do you want to stop confusing issues here?

    '07-08 crisis is a fundamentally different scenario that built over time. The toxic assets totaled something like 1 trillion; they were built over time, and the problem rose when home values stopped going up. let me compare the orders of magnitude on the debt that caused that crisis vs this:

        1,200,000,000 (Kiyoski's debt)
1,000,000,000,000 (Toxic assets in the great recession)

    Do you see the difference now? It’s a nice whataboutism, but it’s fundamentally irrelevant. the only thing that’s going to get fucked is Kiyoski, and the people who work for him. The difference between a billion and a trillion is… about a trillion. more preciesly, .1%.