In 2015 Robert Kiyosaki’s “Second Chance: for your money, your life and our world” came out. Reading it at that time was a strenuous effort. The Author repeats himself regularly. Moreover, he recites many ideas from his earlier books. Basically it was not a new book. It was simply a sort of auto-plagiarism.
Of course some of his insights are valis. People, in general, are poorly educated in finance. Holding/using assets is, ceteris paribus, more advantages than working for money. Tough time are approaching. Such statements raise little objection. Also, Kiyosaki’s train of thoughts expressed in his first book “Rich Dad, Poor Dad” has merit and allows us see things from a novel perspective. However, for anyone familiar with his real background all those moralizing stories about traditional work vs financially savvy activities are difficult to read. Kiyosaki made up everything. There is no truth in description of his past. “Second Chance” may, therefore, be a good read for people not familiar with Kiyosaki’s publications.
One thing is interesting from today’s perspective. Kiyosaki predicted a financial collapse in 2016. It did not occur. Of course right now we seem to approach a serios economic crisis. However, it is nagging when experts forecast events with aplomb and arrogance and then nothing actually materializes. Kiyosaki is, certainly, not alone in promoting himself through such forecasts. No one denies that making predictions in economic matters is overwhelmingly hard to do. So the question is how should we treat experts who tried to predict and failed?
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