US vs China trade deal update

The more things change, the more they stay the same.

This quote seems appropriate to explain the current status of the ongoing US and China trade talks.

In this week’s episode of the Rich Dad Radio Show, Robert Kiyosaki welcomes back his friend and macro-economic expert, Richard Duncan (Corruption of Capitalism, The New Depression, The Dollar Crisis).

Richard (former economist at both the IMF and World Bank), lives in Bangkok, Thailand but continues to predict the future of capitalism and socialism around the world, including here in the US.

President Trump and the widening US and Chinese trade deals

“Nero fiddled as Rome burned,” aptly explains Robert’s thoughts on the status of the US economy.

As Richard sees it, the US is currently in contentious trade talks with China, which is probably the biggest geopolitical issue since the fall of the Soviet Union. President Trump is digging in his heels and is ultimately trying to stop China’s rise to power by any means necessary.

If China continues its rise like it has over the last few decades, they will be positioned to take the top spot as the world’s supreme economic superpower.

Richard brings up the tariff’s that President Trump has applied to big Chinese manufacturers like Huawei. Richard and Robert share the belief that China will have no choice but to retaliate if the US continues to strong-arm Chinese businesses.

Richard’s advice to President Trump on the US and Chinese trade talks

When asked what Richard would advise President Trump to do, he recommends we follow the Chinese government’s lead by investing in 21st century industries like artificial intelligence (AI), genetic engineering, biotech, nanotechnology, neuroscience, and robotics. He knows the trillions of dollars the US government could invest would payoff for decades to come.

What does Robert see while he travels the globe? The same thing Richard does. While the US government focuses on increasing its friction with the Chinese government, China is dumping trillions of dollars worth of investment into the very same industries that Richard recommends the US do.

With such explosive investment capital that the Chinese invest into the future, Robert asks if there’s anything good about the situation for the US.

Even though things look dire for the US government, the people of the United States still have one thing going for them: more purchasing power.

The Chinese still require the average US citizen to purchase products they manufacture, for now.

The US and Chinese trade deals effect on inflation

Won’t it lead to inflation?

Now that President Trump has placed 25% tariffs on $250 billion worth of Chinese goods and threatening another $300 billion, its highly likely.

And because the global economy is crashing, however slowly, the price of oil is crashing as well. Even while the US continues to take Iran’s oil off the market to push the price higher, the prices continue to plunge.

Though the prices of gold and oil historically track very closely, gold continues to rise while oil continues its plunge.

So what is the average person to do?

How does the US and Chinese trade talks affect you?

Richard and Robert agree: mind your own business.

Make your business as recession-proof as possible. Invest in rental properties and the land beneath them.

Is the US a capitalist or socialist economy

First, a quick recap of how capitalism started. At the beginning of the 19th century, there were no laws and businesses could basically do whatever they wanted. There were no laws protecting people (including children) from being taken advantage of. This included a lack of protection for the elderly who, like us all, eventually could no longer contribute to society.

As we entered the 20th century, however, our government implemented social programs like Social Security and unemployment insurance. So for the better part of the past 75 years, we’ve been living in a very socialist society.

While living conditions for the masses has improved, so has the income inequality between the rich and the poor. If things continue along this path we will have something closer to an oligarchy where there will only be the uber-rich… and the rest of us.

AIR: June 19, 2019

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GET RICH WITH THE WORLD’S MOST POPULAR INVESTING GAME. CASHFLOW® was developed by renowned entrepreneur and motivational speaker Robert Kiyosaki, author of the bestselling personal finance book of all time, Rich Dad Poor Dad. This game is the ultimate realization of Robert Kiyosaki’s vision for an interactive tool to teach investing and wealth building. Put your financial skills to the test and learn how to escape the rat race in the comfort of your own home. In this video, we’ll look at PROFESSION CARDS and FINANCIAL STATEMENTS.

PURCHASE YOUR GAME HERE:
http://amzn.to/2D51qSD
http://www.richdad.com/apps-games/cashflow-boardgame

Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.

Robert’s most recent books—Why the Rich Are Getting Richer and More Important Than Money—were published in the spring of this year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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Find out how Robert uses debt to build wealth, and why debt is such a burden for the poor and middle class. Robert says there is good debt and bad debt, and explains why one builds wealth, and one sucks wealth. Rich Dad real estate advisor Ken McElroy offers techniques that he uses to leverage debt for cash flow.

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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HOW POLITICAL CORRECTNESS SABOTAGES SUCCESS—Robert Kiyosaki

Navigating the PC culture not only presents ever-changing obstacles to business owners, it threatens success. David Goggins joins Robert to discuss his war against political correctness. WARNING: This episode contains adult language. Listener discretion is advised.

GUESTS: David Goggins, Josh Lannon

https://www.richdad.com/

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
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Instagram: @TheRealKiyosaki
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This is your opportunity to change your life once and for all.

Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.

Robert’s most recent books—Why the Rich Are Getting Richer and More Important Than Money—were published in the spring of this year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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In 1997, when I released Rich Dad, Poor Dad, that book caused a bit of an upset because I said your house is not an asset. In today’s world, if you want to be rich, you have to know the difference between assets versus liabilities. One of the reasons so many people are struggling financially today is simply because they’re calling their liabilities assets, such as your house is not asset, your car is not asset, and things like that.
Very simply, when I was a young boy, my rich dad taught me. He says, “You have to understand a financial statement.” This is an income statement. This is a balance sheet. Now this is overly simplified. He says what creates something to be an asset is very simply assets cashflow money into your pocket. Liability takes money from your pocket. For most people, their houses are not assets. They’re liabilities because every month it takes money to live in that house.
Even those who say, “Well, I don’t have any debt on my house. I’ve paid it off.” Look, you still have insurance. You still have upkeep. You still have maintenance.
Let’s me explain this. If this is a house and I rent the house out, and every month it’s putting money in my pocket, more than my expenses, then that house is an asset. Now that very same house, if it goes unrented or somebody trashes it or whatever they do, that very same house can be a liability. A house can be an asset or a liability, depending upon the most important word in business. It’s called cashflow.
Once again, if cash flows into your pocket, it’s an asset. If cash flows out, it’s a liability. I’m not saying don’t buy a house. I’m just saying don’t call a liability an asset. And that’s what makes the Rich Dad Company different.

Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.

Robert’s most recent books—Why the Rich Are Getting Richer and More Important Than Money—were published in the spring of this year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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There are many many people who always tell you, live below your means. Well that’s not a Rich Dad philosophy either. I think if you live below your means and if you’re poor already, you live below the means your spirit dies. What the Rich Dad company is really about is how do you improve your spirit by increasing your financial intelligence or your financial IQ?
Instead of living below my means or what most people have as a J-O-B, a job, can only work so hard so my goal, my wife’s goal every single year is we increase our assets. We buy more rental property, we invest in oil, gold stocks that pay dividends and all this. Every year our income or our cash flow keeps increasing.
Every year our goal is not to get a higher paying job, our goal is to keep increasing our assets. Now another thing too is people say, “But what about the nice cars and all that?” The way I get rich is this, I buy assets first, liabilities second. Let me give you an example.
Few years ago I wanted a new Porsche, so let’s say this is the Porsche here. My wife says, “You can have that Porsche, it’s a liability but you can have it as long as I first invest in an asset.” A long time ago I invested a few thousand dollars in a mini storage in Austin, Texas and every month the money for that investment comes in and it paid off my Porsche.
Today I don’t have any debt from my Porsche. I still have my Porsche, still have all this time. I still have the investment and I still have my cash flow. That’s one of the [inaudible 00:01:28] don’t live below your means. We say at Rich Dad, increase your means and you can have anything you want. We want you to have all the wonderful things this world has to offer and that’s what makes the Rich Dad’s company philosophy a little different than the rest.

Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.

Robert’s most recent books—Why the Rich Are Getting Richer and More Important Than Money—were published in the spring of this year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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Is America a communist state, or are we still capitalists? Our rights as Americans are being eroded daily as more and more personal activity is being criminalized in the interest of National Security. Simon Black (http://www.sovereignman.com/) joins us to discuss the reasons for our quickly disappearing rights and why kids running a lemonade stand are such a threat to our government.

Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.

Robert’s most recent books—Why the Rich Are Getting Richer and More Important Than Money—were published in the spring of this year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.

http://www.richdad.com

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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Go big or go home. We’ve all heard this is the way to build a successful business. But bigger isn’t always better. Paul Jarvis joins Robert & Kim to discuss his experience in building businesses that question growth, and most importantly redefine what the definition of success is.

https://www.richdad.com/

Facebook: @RobertKiyosaki
https://www.facebook.com/RobertKiyosaki/

Twitter: @TheRealKiyosaki
https://twitter.com/theRealKiyosaki

Instagram: @TheRealKiyosaki
https://www.instagram.com/therealkiyosaki/

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