Rich Dad Poor Dad Author: Debt Ceiling Deal Talks ‘Bad Comedy’
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A similar debt ceiling debate in the United States happened in July 2011, after which the financial markets crashed. At the same time, Bitcoin price dropped by a whopping 61%, although those were initial years after the cryptocurrency’s launch.
Debt Ceiling Deal Talks ‘Bad Comedy’
The author called the US debt limit debate ‘bad comedy’, indicating that the US is already bankrupt and that it has unfunded liabilities of over $250 trillion as social security. Amid the debt ceiling negotiations, the immediate goal will be to avoid defaulting on credit with the raised limit. However, top Republican Kevin McCarthy on Wednesday said there was a lot of division among the leaders about cost cutting but a deal will most likely be reached. Kiyosaki said further,
“Politicians debating raising $ 30 trillion US debt limit bad comedy, “kabuki theater.” Facts are: US bankrupt. Unfunded liabilities as Social Security are over $250 trillion.”
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Meanwhile, the Crypto Market prices are largely impacted by the macroeconomic events, although it is speculated that a stock market crash would eventually benefit Bitcoin as it could be preferred as a high risk bet against market uncertainty.
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