Are Savers Losers? Or, is Robert Kiyosaki For Real?

by Jason Unger

I stumbled across this video the other day on YouTube, and let’s just say, I was rolling my eyes the entire time.

But, it could just be me. Watch this video, let me know what you think in a comment, and then I’ll share my entire thoughts.

{ 3 comments… read them below or add one }

Investor Junkie February 26, 2010 at 1:08 pm

Ok I’ll bite, what’s wrong with the video? I can understand you may not agree with Roberts conclusion (which is Austrian School of Econ), but the facts he states are correct.

Jason Unger February 26, 2010 at 4:04 pm

I don’t have any problem with the legitimate facts in the case (inflation, currency, etc.), my issue stems from his conclusions: that it’s a bad idea to save, and in particular, save cash.

Cash may be worthless in the sense that you can only get for it what other people will give for it, but that’s the same thing with everything else he’s describing: oil, gold, etc. It’s the standard that we go by, and until that changes, it’s bad advice to tell people to bet against it.

And finally, there’s no such thing as a “new rule of money.” The rules haven’t changed, and it’s misleading to tell people they have.

Jason Unger February 26, 2010 at 4:16 pm

PS – more on Robert Kiyosaki on Monday.

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