Kiyosaki on Real Estate Guys Radio predicting massive crash

[Eric Eastman]

Just finished listening to the 1.22.17 Real Estate Guys Radio podcast with Robert Kiyosaki. On it he said that basically we are currently in an economic situation akin to 1928 and 1929 is approaching rapidly. 

His argument, which isn't a novel one, is that our economic system built off of fake fiat money is tapped out. I definitely see the argument in that. He and the hosts are concerned that a huge stock market correction is coming and the dollar is toast. They suggest that this will lead to loads of opportunity to those that know how to manage it. 

Ok, great but what does that actually mean? Let's say he's right and doom and gloom is right around the corner what is a possible solution? Sell all your stocks and Go to all cash that will be worthless anyways? Take on more debt to acquire real assets(property) and ride an inflationary wave to rapidly pay down everything? But wouldn't a crushing market correction drag all your values down making a purchase now harmful?

People have been making market bust predictions since the dow got back over 10,000 circa 2011, so I'm not taking this as gospel. Similar predictions have been made about real estate. But there is a good argument that things are getting close to the top with lower cap rates, higher stock valuations, likely interest rate hikes, global economic changes and attitudes towards globalization, etc. 

This is a broader topic that just multi-family but I figured this would be the place to ask this macro question. Lots of great minds here that I'd love to hear from. Thanks guys. 

-please excuse any typos or odd formatting. I wrote this on train using my iPhone. 

[Nick C.]

Since the world began people have been predicting the end of it. Millions have been wrong, but one day the world will actually end and whoever the lucky doomsdayer is at the time will say "I told you so". 

Likewise someone is always predicting the market is going to crash. We will forget about the thousands that have been wrong, but when it does crash that lucky someone will be able to say "I told you so". And then they will be able to sell a bunch of books with the headline "I'm the guy/gal that predicted the (insert year here) market crash". 

Don't over leverage, be ready to adjust on the fly, have cash reserves, no sense wasting time and energy worrying about it IMHO.