Where has all the money gone? – Robert Kiyosaki

Robert KiyosakiWhy American Wealth is on the Decline?

When I was growing up, America was considered the poster child for wealth and power. It had a strong and independent middle class, a thriving business and manufacturing sectors, and a solid commitment to free enterprise.

When I was growing up, we didn’t talk about things like national debt, international monetary crisis, and the collapse of the dollar. We knew there were problems in the world, but they weren’t in our backyard.

When I was growing up, people didn’t fear retirement and knew how to build a comfortable life.

When I was growing up, people understood the phrase, “You have no one to blame but yourself.”

When I was growing up, it was assumed that American wealth and power would always be a reality.

That was in the 1950’s and 1960’s. Today, things are much different.

Today, the Fed has bought $2.3 trillion in bonds through two quantitative easing programs (i.e., printing money)—and is considering buying even more.

Today, unemployment is officially at 8.3% and unofficially even higher as longtime unemployed simply drop out of the job market. And unemployment poses one of the biggest risks to the Fed’s easy-money policies.

Today, the middle class is disappearing and there is really only rich or poor.

Today, the government oversees over $2.2 trillion in entitlement payments to its once independent citizens—versus $24 billion in current dollars in 1960…a 727% spike.

Today, the US debt is set to pass $16 trillion.

Today, the wealth and power of American are anything but a given.

So, what is wrong? Why are we facing such decline? Where has all the money gone? The answer is found in the decline of our independence.

As Nicholas Eberstadt writes in The Wall Street Journal, “From the founding of our nation until quite recently, the U.S. and its citizens were regarded, at home and abroad, as exceptional in a number of deep and important respects. One of these was their fierce and principled independence, which informed not only the design of the political experiment that is the U.S. Constitution but also their approach to everyday affairs.”

He goes on to write: “The corollaries of this American ethos were, on the one hand, an affinity for personal enterprise and industry and, on the other, a horror of dependency and contempt for anything that smacked of a mendicant mentality. Although many Americans in earlier times were poor, even people in fairly desperate circumstances were known to refuse help or handouts as an affront to their dignity and independence. People who subsisted on public resources were known as ‘paupers,’ and provision for them was a local undertaking. Neither beneficiaries nor recipients held the condition of pauperism in high regard.”

Today, Eberstadt argues, we no longer have a negative view of taking entitlements from the government or exchanging our freedoms for handouts. Today, we feel entitled to entitlements. Today, it’s good to be a pauper.

Today, the middle class has exchanged its wealth for handouts. One explanation is that handouts feel securer than self-reliance. This is a fine sentiment till one day you wake up and realize that you’re poor. It’s even more frightening when you realize the government you rely on for existence is poor too.

In the future, as I’ve argued, there will really only be two classes of people. The poor and the ultra rich. Increasingly, which class you belong to will be a function of the choices you make on how you’ll live your life. Will you be independent? Or will you rely on government handouts?

If you want to be rich, the choice is clear. You must be fiercely independent. You must take your future and your money into your own hands through financial education—something the government will never handout.

Today, your tomorrow can be better than your present. But it will take hard work, discipline, and independence, something often in short supply today.

So the question is, will you choose to be dependent or independent? Thankfully, the choice is still yours to make.

Do you choose independence? Check out our free, financial education community here.

Source: http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/September-2012/Where-Has-All-The-Money-Gone.aspx

13 comments

  1. The money has simply gone to China. The Wall St. banksters got what they wanted. Are you old enough to remember economists stating ” every dollar spent rolls thru the economy 12 to 14 times.” Those dollars have created the exponential growth for China.

  2. Robert Kiyosaki is telling you the truth. The government is very abusive of you by forcing you to pay S.S. and then spending it elsewhere. Which one of you thinks S.S. is a good idea? You are stupid shits! Let me get this straight…the government comes to you and says, “You are a dumb ass, and unable to manage your own money. Why don’t you give it to us and we’ll keep it safe for you and distribute it as we see fit when the time comes.”…. you then reply, “Yes sir mr. government sir, thank you for your kind generosity, as I am wholly incapable of managing my own affairs. If you promise to take care of me I will let you mercilessly sodomize me in perpetuity.” You people are sick. You have “Stockholm Syndrome”. You all have prolapse rectums, and yet you keep bending over for the government. Any man that accepts this state of affairs should check between his legs. He is probably a short, fat, bald, effeminate faggot.

    • Kiyosaki with this article is trying to sell anyone foolish enough his crappy books and Rich Dad crap. His financial advice is so bad as to be laughable.

      The cult of Kiyosaki is alive and well. Those who think this con artist is telling the truth and is so wise deserves what they get. He may be right on certain things but I wouldn’t buy any of his crap he is selling. He has been exposed so many times as a BS artist who is making tons of money off of ignorant fools.

      Canada pretty much kicked him out of their country for scamming tons of people out of their hard earned money. He was exposed on Canadian television as a scam artist.

      Caveat Emptor

    • THAT IS THE FIRST SMART THING SOMEONE SAID …..DON’T WORRY THESE PEOPLE WILL BE CRYING WHEN THE GOVERNMENT SAYS “SORRY NO MONEY YOU HAVE TO WORK TILL YOU DIE” AND THEN WHO’S IS THE SHYSTER… WHEN YOU PAID INTO YOUR OLD AGE PENSION …HELLO THE DOLLAR IS GOING TO CLAPS.. ITS NOT IF …ITS WHEN ….NOTHING IS GOING TO BE HANDED OUT ….YOU STILL HAVE TO USE YOUR BRAIN …. SORRY TO SAY BUT THAT IS A WELFARE MENTALITY…I’M SO GLAD THAT RICH DAD POOR DAD …BROUGHT OUT A DIFFERENT WAY OF THINKING …SO I COULD SEE THE ERRORS OF MY WAYS…..

  3. - Countries with a social safety net enable entrepreneurs to take risks. By definition entrepreneurs typically fail multiple time before they eventually succeed unless they are amazingly lucky or well connected. In the USA if you try to be entrepreneurial you risk going into hock to the banks who will kick you when you’re down, making escape from debt impossible. Usury is a massive problem and is throttling the ability of what’s left of the middle class to take chances to try and get ahead.

    Given that kiyosaki profited mightily from the buy and flip property movement with his homely rich dad schtick, and played a major part in herding the borrowing hordes into the clutches of the banksters, it’s pretty rich that he’s now bleating about the old times – he helped destroy all that rose tinted stability…

  4. Robert Kiyosaki is a scam artist that has been confronted in Canada for scamming people out of their cash with his BS “educational” programs..

    He is so full of crap I often wonder why people still give this guy any credit for being believable.

    Beware of Robert Kiyosaki, the biggest BS scam artist. Rich Dad Poor Dad my rear end.

  5. 33% of my wage goes to taxes. I have paid in over $300,000 to social security. It’s not an entitlement it’s my money. What is this shyster talking about? Like there’s a chance in hell any of us could ever pass into the upper realms of the ultra rich. Really it would require we all turn into bonified ass holes. The tag at the end gives it away they are selling a program that is a blatant lie, for a few thousand dollars you can get his secrets and be just like him. Who’d want to? The moral decay is astonishing.

  6. Did you really believe those fairy tales growing up? Bwahaha! What a cupid stunt.

  7. i wouldn’t believe anything r.k. says…. he seems like he was “made”… and like he’s a paid shill… and he seems like he’s just saying what the puppeteers want him to say… and of course he’s telling everyone things most everyone already knew years ago… and he’s trying to make money telling people the “truth”… but the government is NOT poor… so he seems like he’s lying…

  8. [["If you want to be rich, the choice is clear. You must be fiercely independent. You must take your future and your money into your own hands through financial education—something the government will never handout."]]

    Clide Barrow did this and they shot him dead. The bankers do it every day and go home with a smile.

  9. The rich stole everything I didn’t have to begin with and they owe me.

  10. What a load of bullshit! How about mentioning that the bankers that you want to hang have essentially rigged the entire system in their favor? The wealthy aren’t paying for shit in this country. Yeah and fuck those poor slobs who paid into Social Security and Medicare their whole lives. Why would they want those meager benefits to help keep them out of poverty. You sir are a moron.

    • Everyone has a right to their opinion and free speech so I respect yours.
      Kiyosaki at minimum gets people thinking, he told people to buy silver when it was single digits and his book conspiracies of the rich exposes alot of the bankers and elite you speak of. There is an interview in which he laughs when someone asks him about Obama. He says “obama, haha, he doesn’t run things, Goldman Sachs runs America”.

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