Honestly if you're a billion in debt, you're fucking baller mate
this post was submitted on 04 Jan 2024
246 points (95.2% liked)
News
23268 readers
3098 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
-- J. Paul Getty
I couldn’t go that hard if I tried.
If you owe the bank a thousand dollars you have a problem. If you owe the bank a billion dollars the bank has a problem.
He’s told his followers that “cash is trash” and that he doesn’t trust the U.S. dollar, calling it “fake.” Instead, he’s recommended investing in assets like precious metals, bitcoin or Wagyu cattle
Hah
Maybe he's just doing research for his hit sequel: "Rich dad, 1 billion dollar in debt dad"
Kiyosaki has continued to espouse those financial views (and has explored extreme political perspectives, including adopting right-wing-media talking points in his call for the impeachment of President Joe Biden).
Not all morons support the baseless impeachment, but rich people who support the baseless impeachment are all morons.
And they never want to impeach him for the right reasons, like going around Congress to send weapons to an ally committing a genocide.
Committing genocide would be the reason conservatives vote for a candidate, not impeach a candidate.
load more comments
(1 replies)
Yeah, still not even remotely impeachable, and would be an incredibly bad reason too. They could, you know, just use their powers to pass a law and stop him.
If Books Could Kill had a brutal episode on this chucklehead: https://podtail.com/en/podcast/if-books-could-kill/rich-dad-poor-dad/
All he knows how to do is pedal-to-the-metal on scams. It’ll catch up with him eventually, but too late for all the people he’s hurt along the way.
Great to see some love for If Books Could Kill!
Just wish they could pump out a bit more content :P
Just finished listening to the podcast! Many thanks for the recommendation!!!
Every clip I ever seen about him just made me think he’s a fraud who’s good at talking. He’ll say things in a certain way to make it sound interesting, but really he doesn’t know what he’s talking about.
Sooo… poor dad.
No, just leverages the crap out of debt, like most wealthy people.
So the title was more autobiographical than we knew- he gets rich and then becomes poor.
So.. is he the rich dad or the poor one?
Yes
Both, the title of his book is his situation, first he's rich dad, then he become poor dad.
So does that make him rich or poor?
He's so poor that he's rich again.
Underflow Error
Yes.
Really rich
Being able to leverage massive debt is squarely a rich dad thing
I've read his book a few years ago, and he was pretty bullish on risky investments, so...
I wonder if he has assets the bank could seize? If they gave him loans without collateral, then they are idiots.
banks don't offer a billion in loans without collateral.
even with the NY trump fraud case... the core of the problem is that his collateral was over valued and inflated. there are definitely assets the bank will be seizing. they may or may not be way over inflated because this dude is a grifter, but details.
Yeehaww it's bankruptcy court for me!
Kiyosaki’s investment strategy is multifaceted. He is known for his stance against fiat money, labeling it in derogatory terms and instead advocating for investment in what he calls “real assets” like Bitcoin, silver, gold and Wagyu cattle. Bitcoin, in particular, is a favorite of his, perceived as a hedge against the deteriorating value of the U.S. dollar. Kiyosaki views gold, another key component of his portfolio, as more stable and reliable than cash, which he calls “trash" because he just doesn't "trust the frickin' dollar." He has expressed a willingness to increase his gold holdings even if prices drop significantly
Via https://finance.yahoo.com/news/rich-dad-poor-dads-robert-193714809.html
what's hilarious, is that BTC is only worth something because people pay fiat for it.
load more comments
(9 replies)
That's all ridiculous but if the price of gold tanks that's kind of the right time to buy it if you have the opportunity.
load more comments
(2 replies)
He blatantly said in an interview, proud at that too, that he doesn't pay tax and everyone should avoid paying too.
So he finally chose one, huh? Why did he pick poor dad though?
Does any one know what the book says?
Yes, it says, 'don't buy depreciating assets' and 'buy things that appreciate in value, opposed to blowing all your money on consumer items.'
If that sounds like advice you've heard before from many other places, it's because it's not new, it was just wrapped in a good title. It's astonishing how much a book with a good title can sell if it lands just right.
because it’s not new, it was just wrapped in a good title. It’s astonishing how much a book with a good title can sell if it lands just right.
(Relatively) benign example: Mark Manson's "The Subtle Art of Not Giving a F*ck". Basically a summary of the greats of philosophy and psychology, age old but often solid advice, brings nothing new to the table, but repackaged as a blunt chat with your bro / self-help book so it's quite accessible. Padded out and repeats itself like most self-help books because $$$, sometimes contradicts himself, 8 million copies sold.
Bad example: Peterson's "12 Rules for Life". Same as above, but overly wordy because the author's vain, includes stuff like long discredited Jungian crap and religious nonsense, more egregious elementary mistakes, and mixed with his own stupid political opinions. Part of the alt-right pipeline. 10 million copies sold.
Honestly, I think schools should force kids to read Marcus Aurelius' Meditations and have a discussion on that.
Or maybe I should rewrite Meditations, title it "The 13 Rules of a Roman Emperor: How to Stop Giving a Shit and Live a Fucking Good Life." Adjust the vocab to that of a 13 year old and perhaps have a picture of Marco Aurelius chopping someone's head off on the cover.
Should probably write it under a pen name too. Lance Powercock, John Steel, Max Iron, Peter Powers, something like that.
e: Dick Hardy, Hank Killjoy, Vance Strongfist, Sebastian Steelsword, Roger T. Ripper, ...
The 13 Rules of a Roman Emperor: How to Stop Giving a Shit and Live a Fucking Good Life
Why bother with a book? What you've described was the structure of a dozen "documentaries" created for Netflix last year.
Beef Slamchest, Blast Hardcheese, Slab Bulkhead, Butch Deadlift, Bolt Vanderhuge, Flint Ironstag, Bob Johnson... Oh wait.
Lance Powercock
My Chuck Tingleverse officially licensed rpg character Bigfoot Buckaroo is not an author. He's a Bigfoot Buckaroo. I thought I was clear.
Years ago, I read it up until the point that he described his "wallet" endeavor.
He decided he was going to sell shitty velcro wallets. So he got some factory in SE Asia or China proper to manufacture them for pennies, and he sold them for dollars. As I recall, he was proud of how low paid the labor was.
So just like every other cockhole who thinks they're "self made," he started with money, used that money to exploit far away people with less power than him, and sold a product that nobody needs to people who could have spent their dollars on something more useful.
Of course, whatever substantial money he ever made was from the book. Just another scammer.
load more comments
(3 replies)
view more: next ›