Rich Dad, Poor Dad author is deeply in debt, again

[BAT31]

How many people are still working class, living hand-to-mouth and paycheck-to-paycheck after reading his books, years ago?

 

[Pekelo]

Best comments:

Burning_Flags

Rich bank. Poor bank
dshotseattle

Schrodinger's dad

ThisRecommendation86

New book “Poor Dad, Broke Dad”


benchazl3y

Yes hello I'd like to buy $1.3 billion in CDOs-Tranche put options with a made up contract that allows me to own the bank this guy uses too take out endless amounts of loans to redevelop seemingly poor areas. I too can take out loan after loan after loan until I know am just some account that is so into the bank that I know run the bank.

VeryLowIQIndividual

Trump did this once. Owned so much he was on an allowance from the banks. If he didn’t make a payment the bank would have failed

 

[murray t turtle]

We used to say the same about Trump too.

%%
LOL, but he is right about bank lending; mainly they're not stupid.
Actually he did write a somewhat helpful [used not new] book with Mr Trump.
SO IF you ever see it greatly reduced in price, buy it ;
even though he skips the risk ''debt'' part when the bank forecloses\ they panic sell collateral + may sue you for the balance LOL.Some bank contracts allow a panic sale even if you have $2B on $1.2B debt. But most love RE loans.
A small or regional bank may treat you right+ even allow you to line out some things in thier typical seller$ contract LOL; dont count it with C or BAC

 

[SimpleMeLike]

You can write a book too.

Hello ironchef,

I would only write a book, if I wanted to get rich quickly GURANTEED lying to buyers of my books how they can get rich quickly in trading the stock market.

There is no other reason on this planet for me to write, buy, or read any book on any subject for the rest of my natural life.

All books are full of Lies.

Lies is theories. And with every breath in my body, I say this: Fuck Theories.

 

[murray t turtle]

Reading between the lines, I'm guessing his "debt" is secured with assets, so not an actual debt. He is just making a point that you don't have to spend your own money to invest. He still owns stuff that's paid off and isn't threatened.

%%
Could work;
+ may not work\ still could get ripped off.
Management changes+ or bank gets bought out........ And most banks have a typical sellers contract they can sue you for the balance on the collateral[repo] panic sells LOL.
Happens all the time on auto loans + some time RE loans.
Good REO points [not in the bankers repo way,LOL] but the paid off way you used it, risk less.

 

[TrailerParkTed]

I suspect much of what he says is full of shit, both about his net worth and his debt. He and Trump had so much to talk about, they wrote a couple of books together. Should have been just one chapter. 11.

Did you ever imagine people would worship blowup and BK artists? Traders on Elite use to hammer fund managers who failed, times have changed. Poor Victor Niederhoffer would be a rockstar on the money circuit!

 

[schizo]

He filed for bankruptcy back in 2012, and now:

Rich Dad, Poor Dad author is deeply in debt, again

The next sequel was long overdue anyway: Rich Sucker, Poor Sucker (Why the West Never Tires of Sucking)

 

[SunTrader]

eff the fat old Insurrectionist and the other old guy ... Kiyo for Prez.

We are already 34 trillion in debt. Maybe he can ummm leverage that into a nice even round number of 100 trillion and pick up some bullion for himself the poor guy

 

[zdreg]

Old saying: if you owe the bank 1k they own you. If you owe the bank 1B you own the bank.

 

[murray t turtle]

How many people are still working class, living hand-to-mouth and paycheck-to-paycheck after reading his books, years ago?

%%
LOL dont know
But that would be for sure their fault + unwise budget plans or lack of a wise budget..............................................................................................