tag:blogger.com,1999:blog-18675105.post7295729396942655740..comments2024-01-15T12:16:41.302+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Donald Trump's buddy Kiyosaki knows what's coming, says get to gold and cash nowbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger53125tag:blogger.com,1999:blog-18675105.post-7539342442557207692007-02-23T22:36:00.000+00:002007-02-23T22:36:00.000+00:00(con't)He picked up a bunch of RTC property and SF...(con't)<BR/>He picked up a bunch of RTC property and SFH in Oregon after the 1987 change in tax laws and subsequent RE collapse, 1031'ed them into a large apt in Arizona, then retired.<BR/><BR/>Kiyosaki is quite public about his conflicts with his academic father and other teaching types about finance - "money isn't important" [but we'll sure as h*ll go on strike if you change our DB pension plans to DC pension plans (a topic covered in Rich Dad's Prophecy)]. This, and perception of risk, are his important messages, not seminars with Trump or photos with Serin.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6034890315391805752007-02-23T20:00:00.000+00:002007-02-23T20:00:00.000+00:00To Keith and a variety of anon bloggers:Perhaps I ...To Keith and a variety of anon bloggers:<BR/><BR/>Perhaps I am reading a different author - he focuses on creating "cashflow" rather than "net worth", including cash accounting versus accrual accounting, addressed on a previous thread.<BR/><BR/>Does Rich Dad exist? Probably yes: Richard Kimi. http://www.sand-seaside.com/About_Us.aspx<BR/><BR/>How about his associates? "Peter" in Rich Dad's Guide to Investment is Peter Marrone of Yamana gold (AUY), named at Kiyosaki's mother (maiden name). You could have picked up 100,000 shares for a dime several years ago. His obscure richdadgold site (now enveloped in his slick new site) has been up before he went on Oprah. Kiyosaki's well-described 3 piggybank method involves a third to investing/trading, a third to charity and a third to cash (gold and silver).<BR/><BR/>He picked up a bunch of RTC property (how many anons here were around then?) and 1031'ed them into a large apt in Arizona (how many anons here have done a 1031?)<BR/><BR/>Now he does late night infomercials. Big deal. Read his educational views in his pre Rich Dad ("If you want to be rich and happy, don't go to school").<BR/><BR/>Casey Serin should have read Retire Young, Retire Rich, detailing the dangers of leverage.<BR/><BR/>Johntreed's hysterical rants miss Kiyosaki's points: financial education (and if it's important), market timing-interest rates-laws (from Guide to Investing) and buy/create cash-flow positive assets (including trademarks, patents and copyrights) that pay the monthly bills.<BR/><BR/>On the topic of TMs - one of his Advisors is the attorney who went head to head with Art Modell, and kept the Cleveland Brown name in Cleveland - the attorney's wife is Kiyosaki's coauthor, Sharon Lechter.<BR/><BR/>Are we all talking about the same person?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20179273362701590872007-02-23T19:53:00.000+00:002007-02-23T19:53:00.000+00:00GT said...been a while since i seen me the word go...GT said...<BR/>been a while since i seen me the word gold on this here blog? why is that?<BR/><BR/>until the gubment buys all the ammo. <BR/><BR/>nation wide shortage on ak ammo NOW. getin redy for Iran?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51996130004843320202007-02-23T18:12:00.000+00:002007-02-23T18:12:00.000+00:00If so, you are going to need a gun, those with gol...If so, you are going to need a gun, those with gold and food can always use one more footsoldier. <BR/><BR/>February 23, 2007 12:51 AM <BR/><BR/><BR/><BR/>No, the one with the gun will be taking the gold and the food and enslaving the masters.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40328870188901329222007-02-23T17:37:00.000+00:002007-02-23T17:37:00.000+00:00Gold is not the real winner, the real winner, just...Gold is not the real winner, the real winner, just like the California Gold rush, is supplying the miners. Invest in equip and new mines, etc. Thats were the money is.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84809387172845969472007-02-23T17:30:00.000+00:002007-02-23T17:30:00.000+00:00The problem with gold and energy comods is that we...The problem with gold and energy comods is that we are enetering a new era, one of Resource Wars. If push comes to shove and foreign govt start implementing state owned resources a mandate you can bet your sweet ass that the 1st world countries will do likewise. So either the govt bans ownership, or they re-value these comods so that they are worthless to the public. Some may see past this and still try to use it on the black market for trade, but most sheeple will link the low value to mean that gold, silver, etc. are worthless since they cannot buy anything with it and it is not fixed to a currency value.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8722137016605027722007-02-23T17:24:00.000+00:002007-02-23T17:24:00.000+00:00RK is a scam artist:http://www.thesimpledollar.com...RK is a scam artist:<BR/><BR/><BR/>http://www.thesimpledollar.com/2007/01/26/deconstructing-robert-kiyosaki/<BR/><BR/>>>Background<BR/>It is very difficult to find a clear, reliable background on Robert Kiyosaki, but here’s what’s easily verifiable about him. He was involved in several business deals (most notably, nylon Velcro wallets) in the 1970s and 1980s which fell apart, leaving him bankrupt in the mid-1980s. In this timeframe, he became heavily involved with Amway, a multi-level marketing system, and began to cultivate relationships with many of the “top” members. In 1985, Kiyosaki founded Cashflow Technologies, a company that was designed to pitch a series of books and other educational materials that eventually evolved into Rich Dad, Poor Dad.<BR/><BR/>By the mid-1990s, Kiyosaki had self-printed Rich Dad, Poor Dad and it was starting to appear in wide distribution among members of the Amway/Quixtar organization, as individuals higher in the pyramid would recommend it to people further down the chain looking to get ahead. Kiyosaki took these “sales” numbers to major publishing houses and before you know it, Rich Dad showed up on shelves everywhere and spawned an army of similarly-packaged books, board games, and so on.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-71901197230895638092007-02-23T16:35:00.000+00:002007-02-23T16:35:00.000+00:00I'm happy....My gold portfolio is back up to the h...I'm happy....<BR/><BR/>My gold portfolio is back up to the high of May 12th! <BR/><BR/><BR/>Get ready for gold to blast off!Miss Goldbughttps://www.blogger.com/profile/10801986805626811706noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76746277011510377332007-02-23T15:57:00.000+00:002007-02-23T15:57:00.000+00:00The best indicator for recession is when Trump fil...The best indicator for recession is when Trump files for bankruptcy, not the bond yield curve. Last time he did this was 1991. LOL, sort of.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46095958225009633702007-02-23T07:30:00.000+00:002007-02-23T07:30:00.000+00:00"The situation today is vastly different, there is..."The situation today is vastly different, there is an absolute scientific consensus that human-induced climate change is absolutely real." - As a physicist I can tell you that this statement is incorrect, to say it mildly... Though I don't have time to argue with incompetent idiots, I'll continue to enjoy this blog.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-16158712475150108022007-02-23T02:27:00.000+00:002007-02-23T02:27:00.000+00:00The guy's gotta sell another book, FAST! Why shou...The guy's gotta sell another book, FAST! <BR/><BR/>Why shouldn't he change his tune, like all those sleazy newsletter writers who need to keep peddling the same crap again and again to new idiots?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-53198748857181306632007-02-23T00:51:00.000+00:002007-02-23T00:51:00.000+00:00To the Anon referring to all the gold pushers:Oh y...To the Anon referring to all the gold pushers:<BR/><BR/>Oh yeah, gold is junk:<BR/>Just because the Cambodians used gold to buy their way out of Cambodia when their paper money wouldn't work, I guess that makes gold junk.<BR/><BR/>For those in South America and Africa who saw inflation turn their paper dollars into little more than toilet paper while those who had gold could exchange it for strong foreign currencies, or for food on the black market,<BR/>Yeah, that makes gold junk.<BR/><BR/>You wouldn't try to swap a diamond ring for groceries, you would go to a jeweler or pawn shop and spend the local currency.<BR/>You also wouldn't have much luck spending Euros or British Pounds in a local US supermarket, you would take it to a currency exchange for the local currency.<BR/><BR/>For three thousand years, 3000 years, somebody has been willing to swap what they had for gold, do you think that if things crash in this country no one, ever, ever, ever will swap food for gold?<BR/><BR/>If so, you are going to need a gun, those with gold and food can always use one more footsoldier.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76262252095173154342007-02-22T23:19:00.000+00:002007-02-22T23:19:00.000+00:00Gold is finite? Ohh you mean like they can't make ...Gold is finite? Ohh you mean like they can't make any more of the stuff? <BR/><BR/>Hmmm you mean like land and beachfront condos? Cuz someone once told me land and beachfront condos will ALWAYS increase in value too since there is a F-I-N-I-T-E supply of land and beachfront condos too.<BR/><BR/>Don't you see you numbskull, you are using the exact argument real estate agents made? Can you really be that stupid?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-78462681603261753432007-02-22T22:55:00.000+00:002007-02-22T22:55:00.000+00:00"Had you bought gold for $700 in 1980, you'd be do..."Had you bought gold for $700 in 1980, you'd be down today, 27 years later. Adjusted for inlfation you'd be, well beyond fucked. Compare that to investing in the DOW or S&P500 in 1980 or dare I say it, buying real estate in 1980. Not even worthy of comparing returns between the two options.<BR/><BR/>Had you bought gold for $400 in 1990 you'd be worse off than had you invested in a house almost anywhere in the country. And again, compare that with investing in the DOW, or S&P500 or even the NASDAQ with the 2000 crash included. You'd be much better off off than investing in gold."<BR/><BR/>===============================<BR/><BR/>Go back to 1972 when Nixon took us off the gold standard and gold was $32. A few years later it hit $350 on the upside, the DOW was halved, and Gerald Ford was pushing W.I.N. buttons. Gold wasn't defeated until several years later when Paul Volker took interest rates up to the mid-double digits to get money back into savings accounts, and thereafter ths stock market. The best place to stash your dough changes over time. Do you recall ads touting "Mortgage rates are at the lowest in 40 years" recently? What was going on then? Tax cuts, lots of spending, the Vietnam War. The shortfalls had to be paid for and that's what came with a vengeance in the '70s. Now we have tax cuts, lots of spending, foreign wars, and a massive population segment aging who will put a great stress on Medicare and social security in a few years. The setup now looks worse than what it was coming out of the '60s. Gold $10,000 or higher before the Feds get their act together and stabilize the dollar.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6702952352249596692007-02-22T22:38:00.000+00:002007-02-22T22:38:00.000+00:00Sorry to burst your bubble Anon, but like gold, re...Sorry to burst your bubble Anon, but like gold, real estate is finite too. If something is over priced it is over priced. It doesn't really matter if they are making any more of it.The Thinkerhttps://www.blogger.com/profile/02975817251694544996noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-3374537309621344792007-02-22T22:32:00.000+00:002007-02-22T22:32:00.000+00:00I don't know why people slam Kiyosaki so much."He'...I don't know why people slam Kiyosaki so much.<BR/><BR/>"He's trying to sell his books". So what!<BR/><BR/>His rich dad and poor dad are not real people". Who cares? It's metaphorical.<BR/><BR/>He thinks the way rich people do and imparts a simplified version to the general public so that they develop a new mindset.<BR/><BR/>He made a brave call a year ago and I believe he is right.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55701571617827820322007-02-22T20:40:00.000+00:002007-02-22T20:40:00.000+00:00Anonymous said...$3000 gold? BWA HA HA HA!! Based ...Anonymous said...<BR/>$3000 gold? BWA HA HA HA!! Based on what, hope, prayers?<BR/><BR/><BR/>based on fundimentals baby.<BR/><BR/>1 billion chinks like gold, not paper.<BR/><BR/>nearly 1 billion indians (dot kind) like silver and gold for doweerys and personel wealth.<BR/><BR/>these 2 billion peoples are gettin rich by working for the AM CORP clowns which fire americans and hire 3rd world miny mart clerks.<BR/><BR/>the dollar is toast - 1 trillion in iraq and 44 trillion in debt.<BR/><BR/>gold is F-I-N-I-T-E (look it up dummy).<BR/><BR/>printed dollars are I-N-F-I-N-I-T-E (ditto)<BR/><BR/>$3000 is low.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-11866138610155953872007-02-22T19:16:00.000+00:002007-02-22T19:16:00.000+00:00I agree with "concerned's" post.Kiyosaki saw NOTHI...I agree with "concerned's" post.<BR/><BR/>Kiyosaki saw NOTHING coming. He is nothing more than a paid shill who is now backtracking to save his own arse. Need anyone be reminded about Casey salivating at the very feet of this idiot?<BR/><BR/>And I have to chuckle at his quote regarding what his "Rich Dad" indicated. Has it not already been established that "Rich Dad" never existed?<BR/><BR/>Keith, I love your blog. It is one of my favorite reads on the net. But please, for the love of God, do not post statements from Kiyosaki. That individual is one of the major factors that this housing bubble reached the levels it currently resides in. Not to mention the plethora of horrible advice that douchebag continually touts. (college is worthless, 401ks are risky, etc). And all based on false pretense.<BR/><BR/>So please, for the sake of your loyal readers, keep Kiyosaki off of your blog. If there is anything that man does not need is more publicity.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-44638593277732386052007-02-22T19:10:00.000+00:002007-02-22T19:10:00.000+00:00$3000 gold? BWA HA HA HA!! Based on what, hope, pr...$3000 gold? BWA HA HA HA!! Based on what, hope, prayers?<BR/><BR/>Keep buying that gold at $650 and maybe in a few years I might give you $200 for it, if I'm in a good mood.<BR/><BR/>But then again maybe not. Afer all they can't make any more of the stuff, it must always go up right?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-32056535481064467672007-02-22T18:58:00.000+00:002007-02-22T18:58:00.000+00:00Have to say: I am awash in gratitude for this blog...Have to say: I am awash in gratitude for this blog-- I JUST LOVE IT-- Thank you all for the helpful info!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66155753969899551302007-02-22T18:41:00.000+00:002007-02-22T18:41:00.000+00:00one in every crowd, ammo totters! veggies planted ...one in every crowd, ammo totters! veggies planted on white house lawn yet? not realy a fan of high priced old hickory nut coffee!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89381654253717702672007-02-22T18:40:00.001+00:002007-02-22T18:40:00.001+00:00Anonymous said... To all you Gold pushers:What a n...<I>Anonymous said... <BR/>To all you Gold pushers:</I><BR/><BR/>What a nice guy your Dad was, what happened to you?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6542476912728795312007-02-22T18:40:00.000+00:002007-02-22T18:40:00.000+00:00Oh, we've talked about gold - just keep up. My ta...Oh, we've talked about gold - just keep up. My take right now is it's getting ahead of itself so I always put in a 5% stop loss but it's been tough to keep up! <BR/><BR/>On cash, I like euros and pounds and want to like yen but BOJ needs to get a bit more serious. You'll know when to do yen and the carry trade unwinding will be harsh.<BR/><BR/>I also am looking at the gold miners. Less 'heat' than the yellow stuff itself and they'll be printing money (and doing share buybacks) all through 2007<BR/><BR/>The US$ is hanging in there short term. I like my 5.75% cd and 5.5% savings.<BR/><BR/>Remember, I'm a bit different as I live in europe and need my purchasing power to stay intact, so the dollar situation is critical.<BR/><BR/>cheersbloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-64376023460163127482007-02-22T18:29:00.000+00:002007-02-22T18:29:00.000+00:00Kiyosaki is FOS, this is how it goes:Looks at list...Kiyosaki is FOS, this is how it goes:<BR/><BR/>Looks at list, lets see here step number 125:<BR/><BR/>After making millions via rich dad/poor dad ponzi scheme wait for top of market and then tell version of Joe Kennedy's (I believe that's who it was)1929 story about how he got out of the stock market when his cabbie gave him a stock tip.<BR/><BR/>Please...what Kiyosaki understands is market psychology and the ability to heartlessly exploit it, that's his fun, and that includes the "humble" persona. He has no respect for you dear reader, in the privacy of his own mind I'm sure he sees average Americans as nothing but fools and pansy ass followers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89726797334718891212007-02-22T18:13:00.000+00:002007-02-22T18:13:00.000+00:00Last May I was in Txeas working for a client. Over...Last May I was in Txeas working for a client. Over lunch one of the employees mentions that she has done amazingly well investing in gold and was buying more every week. This was a mid-level admin woman in her late 30s, early 40s.<BR/><BR/>At that moment in time I knew gold was no lomger a good investment and sure enough within a week gold hit its peak and sank like a stone.<BR/><BR/>Bubbles and manias are not exclusive to stocks, real estate and tulips folks.Anonymousnoreply@blogger.com