by Jim Hoft, The Gateway Pundit:
It’s time to cash out of California while the times are still good.
At least, that’s what you should be doing if the prediction made by financial expert Robert Kiyosaki sounds likely.
Kiyosaki made a name for himself in 2008 after correctly predicting the fall of global investment bank Lehman Brothers a full five months before the institution’s shocking collapse. More recently, he called growing trouble in the bond market and banks tied to it last year.
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“California is a BELL-Weather state,” Kiyosaki wrote last week on the social media platform X. “That means what happens in California happens to the rest of the US.”
“The problem is California is going broke,” Kiyosaki continued.
“California will begin raising taxes and cutting subsidies to the poor, to prisons, environmental problems, and teachers unions. That means crime will spread as police will be cut.”
Kiyosaki appears to again be correct on the general downward trend California is chasing.
The Golden State’s desperate situation was hinted at as early as 2018, when then-Gov. Jerry Brown revealed in a budget briefing that California would soon have the power to cut existing government employees’ pensions as a cost-saving measure.
Since then, an increased hostility toward capitalism and attempts to pass off welfare costs onto businesses, most notably through a massive hike in the state’s minimum wage, has chased money and opportunity away from California.
A San Francisco McDonald’s that had operated for over 30 years in the area was forced to close after the state raised the minimum wage to $20 per hour. A 55-year-old Hollywood Arby’s suffered a similar fate, with countless more restaurants and small businesses also folding to the insurmountable labor costs.
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