Member-only story
What happened to “the biggest crash in world history?”
Our world is full of charlatans. And the more fear and anxiety they raise, the more popular they become. Many gurus/experts/analysts make significant sums of money peddling panic shamelessly. Inevitably, a crash, meltdown, or sell-off occurs and the expert is proven correct. Maybe their timing was off, but their thesis was correct.
If you aren’t sure what the title of this article is referring to, I’m recalling Robert Kiyosaki’s prediction that October would bring the biggest crash in history. Here are some of the headlines that were featured endlessly on the internet in early October:
Expect the world’s biggest crash in October, says Robert Kiyosaki
Kiyosaki: ‘Biggest crash in world history’ hits in October — 3 ways to protect yourself
The author of ‘Rich Dad, Poor Dad’ predicts a major market collapse in October
Let’s look at the scorecard: S&P 500 ⬆0.4%, Nasdaq ⬆7.7%, Bitcoin ⬆40%, Oil ⬆9.9%, Gold ⬆1%, Silver ⬆3.4%
I’m not here to pick on Robert. I’m a mild fan. I enjoyed reading Rich Dad, Poor Dad, and agree with his opinions regarding excess debt and money printing.
Why prognosticators are wrong more often than they are right
