Wealth and Income Inequality "is the greatest moral crisis, and I would also say that today it is a spiritual crisis in America, which is worldwide. This gap between Ami and everyone else is reaching in significant proportions. I think. That is one of the biggest crises.
Young people, today's youth unemployed become tomorrow's unemployed, they lose valuable job training skills. I am going to show, as a picture is worth a thousand words. ,. I will just show you some pictures that this inequality is very fast. Inequality of opportunity is increasing.
What is happening in America today is the losers. Most parents say that children go to school, Money ones. And harden episodes, but in 1970, when I graduated from school, I earned $ 1 million at 15% interest. 150,000 years for me. Now, you could have remained at $ 150,000 a year earlier? But in 2016, do this thing called quantitative easing, I called it the Greenspan Put. At a negative 0.05%, it's a million dollars, it's going to cost. You save a million dollars For a.
Our financial systems have thus deteriorated and this is one of the reasons for the gap between rich and poor. Another thing is that fewer and fewer families are receiving middle-class income; It is going down. Every time we shop at Walmart, we ship dollars and shares to China and Pakistan and all other countries. That is capitalism. One more thing that happens when people have low income: they become dependent.
The US government tells us that poverty has been killed in America. Poverty may have been beaten, but the growth that has taken place is the entitled mindset. The attitude of the government and others should be taken care of. As I said, it is a moral crisis as well as a spiritual crisis. I learned at Sunday School "Give and You Will Receive," and many people today think they should receive. This is another crisis here: Social Security.
Being Japanese, the Japanese call it, "Ah, Social Security. I'm a racist, I know. But still, I've met many people my age - there are about 75 million baby boomers at the top of the baby boom chain. We expect the government to take care of us; This is a lot of highly educated people. That is the crisis. In 2002, I published the book "The Prophecy of Rich Dad". Fourteen years later, it was predicted that in 2016, there would be a global financial crash.
We are in 2016, and here we are in 2016, you can see it. In the first ten years of this century, we had three major accidents: in 2000, with the dotcom crash; Estate Subprime Crash After 2006; And then in 2008, the banking accident. The question is, "Is this next?" It is "a massive crash of 1929." Every time I hear those people on CNBC-I call it the bubble division - they keep talking about the "giant crash of 1929". Let me tell you: nothing compares to this one. So I write, and I speak, and I am very concerned about our futures, our well-being, and the state of the economy.
I am going to talk today about why the rich are getting richer. "Commercial Message", my next book is coming. But I explain some tricks of the trade, why people like me are rich, and everyone else is not. It is quite interesting. This is one reason why the rich are getting richer. These are the Bush tax cuts, with the largest tax cuts going to the top 1 / 10th 100%. Thank you, George.
I appreciate They have no morals, those people, man, I tell you! I am the author of the book "Rich Dad Poor Dad", maybe I should watch the show of hands. How many have read "Rich Dad Poor Dad"? Oh well, Some of you are Who hasn't read the book here yet? Well, there are some customers there; I can see As I say to Publishers Press, I am the best-selling author, not the best writer. But anyway, for those who haven't read the book "Rich Dad Dad Dad", this is a true story on two of my stories. The story begins when I was nine years old, growing up in a small town, a little sugar plantation, Hilo, Hawaii.
I ran my hand in fourth grade - and I went to a very wealthy, basically, all-white school - and I said, "Mrs. Jerel, when will I learn about money?" He said, "Why? You don't know that love of money is the root of all evil?" I said, "Not for me." But he said, "You are here to get a job." I said, "I don't want a job. That's why I want to get rich." He said, "Go ask your dad." This is where "Rich Dad Poor Dad" started.
My poor father was head of education for Hawaii, a very smart man, Ph.D., moved to Stanford, University of Chicago, Northwestern. I went home and asked Dad, I said, "Hey, Dad. When are we learning about money?" He said, "Never." I said, "Why not?" "The government encourages us to teach you this." It's kind of interesting. So he said, "If you want to get rich, talk to your best friend's father. He is an entrepreneur, and someday, he will be a very rich man.
This is how the story of "Rich Dad Poor Dad" begins. When I was nine years old, I crossed over and went to my rich father's office, being an entrepreneur, he started teaching his son and me why the rich get richer. This is how my financial education began. So I wrote this book in 1997. So far I have sold around 41 million copies in 50 languages worldwide.
I will give you some background information. Thank you. I do not do it for bravado. Send me cash But anyway It's Hilo, Hawaii to New York City. I did not do well in school; I was a straight C-minus student - it was not easy to make the old psyche head. So, anyway, I got two congressional nominations: one at the US Naval Academy in Annapolis, Maryland, one at the US Merchant Marine Academy in Kings Point, New York. I took New York because they were the highest-paid graduates in the world. This is me here at Kings Point.
Our starting salary, for most of us, we are returning about $ 100,000 a year in 1965. So it was very good yet, not very good today, but it is very good. And then, when I graduated, I got a job as the third officer on a standard oil tanker sailing in the world. It was a very good job except one — the Vietnam War was still on, and my moral conscience got to me; I said, "Maybe I should fight a war."
So I joined the Marine Corps, and I cut salaries as a Marine Lieutenant from about 6,000 a month to 200 to a month. It was a very good decision. I attended a flight school in Pensacola, Florida, right up this road at Camp Pendleton, and straight to Vietnam. It was truly a wonderful experience. Loved the Marine Corps; Loved the people I worked with.
It is a band of brothers; A very spiritual organization. My business started when I came back. My first business, Surfer WalletsBusiness, and all this. Everyone thinks, "When you start being successful, life is easy." No; Success is expensive. I started selling these silly wallets, and soon, they took off, and I spent more time raising capital to buy more inventory so that L could sell more. But it was a great learning experience.
I learned to make a lot of money selling purses. My life changed when I met this man here, Dr. R. Buckminster Fuller. It is here that Fuller is noted for: He is considered a futurist and a friendly genius. It is a Geodesic dome at the Montreal World Fair in 1967. In 1967, I saw the dome all the way from New York City to Montreal, and it was a mind-blowing experience. I never thought that I would ever meet this great talent.
John Denver calls him a "planet-friendly genius". In 1981, I got a chance to study with him in Kirkwood, California, near Lake Tahoe for five days. I made the mistake of sitting down while he sat next to me. It was called the "Future of Business" seminar, and he sat down next to me, and said, Robert, what is the purpose of your life? What is your mission in life? "I said," Oh, to be rich. "Wrong answer! He chewed me out.
He said," Robert! "(Taking a reprimand) It's a waste of a good mind. Why don't you do something that changed the world?" I said, "The world changed? I just want to get rich." finally I got it. As he said, I am not here to work, I am working for everyone here. Once I realized how greedy I was, it was a very spectacular event. Then I studied with him for three years.
Each time, he kept asking the same question he asked himself, "What can I do, I'm just a little man?" "What can I do, I'm just a little man?" He was also small. So I ask all of you, what can you do? We are a few people in many ways. I studied with him three times in '81, '82, and '83. And then, he died on July 1, 1983. He left this book behind; It was called "The Grunch of Giants" and stands for "Gross Universal Cash Heir," G-R-U-N-C-H. How this over-rich rip us off. Fuller is a sociable genius, he never wrote finance books or economic books. He is a math, science, art, design man; he's an architect.
I read "Grants of Giants" and I understood it because this is what my rich father was telling me; The rich are cutting us. So at that point, I said, "What can I do, I'm just a little man?" I decided that I would take the grass at that time; And for those who wonder who is, you might just notice that the crashes we had, we passed out, Amir passed out.
Let me tell you, ladies and gentlemen, Bernanke and PresidentPolson are standing there, and they say, "It was a mistake, we had to save the economy." that's a lie. I hesitate to tell you that; That's a lie. He drove the rich out. It is part of the business plan; It runs all the time. So, ladies and gentlemen, I said that in 1983 I had to do something about it, and a younger man could do his job in the biggest banks, the Federal Reserve Bank -
which is not a bank, not a federal, no repository. -Not American. get the hint? I can take on Wall Street, I can take over the government, but I can also adopt the school system. See, ladies and gentlemen, those accidents, are not a bailout accident, nor is it an accident, there is no financial education in school. But my research found since 1993, it is pre-determined.
Before the Civil War, it was illegal to educate a slave, we are not allowed to know about money in school. When I found it, I said, "Well, it's time for me to come on with my life and start teaching." So I became like my rich father and my poor father, I started teaching. Not far from here, my wife and I were homeless in San Diego, trying our best to teach, because we can't get inside the school system, and no one wants to listen.
How it started, and so I am going to tell you what financial education really is. I will tell you what it is not. Financial education is not saving money and running out of investment and debt for long periods in the stock market; just the opposite of that. My financial education began with a game of monopoly. We all know the formula: four greenhouses, one red hotel. When I was nine years old, I was 20 years old, a rich father and I, and his son used to play monopoly. That's how I learned to be a rich man. The reason is that it is a learning cone. It was created by a man named Professor Edgar Dale.
In 1969, he came up with a learning cone, and he said how it is designed to make humans learn. The worst way to read is by reading, and the second-worst way is to listen to a lecture, boring teachers - that's why I was never in school; Anyway, I was there, but still, What are you guys doing, you're watching pictures, watching movies, that's why Ted Talks works.
In addition, the second-best method is called simulation. Simulation is where you get your mistakes, you got to make your mistakes after mistakes, so man learns by making mistakes; Except school: You make mistakes, you are considered stupid. In business, you make a mistake, you are fired, you are a failure. So, a person has found a place to make mistakes. And for scientists like Edison, it was a laboratory.
The reason I learned so much is that I made mistakes in playing Monopoly. This is what I have learned. Today, I play a monopoly in real life. My wife and I have more than 10,000 units, many hotels, golf courses, and oil wells. But that's the game. Once you learn in your brain by playing a game, simulation is a small way you learn, so you practice, practice, practice, practice. You make a mistake after a mistake just like a golfer makes a mistake after a mistake.
Then they are changing supporters. But the reason many people are not rich is that they think mistakes make them stupid. This is criminal: a child cannot learn to lose as they fall. You cannot learn cycling until you fall off a bicycle. So right there our school systems are disappointing us. I loved the military because they taught us to make mistake after mistake. Every day when we flew, we practiced emergency procedures, and every day I killed my car to fly without an engine.
This is where I am doing real work. I went to Vietnam three times. If not for the practice of crashing, I would not be here today. All five of my crew members were alive. In what I did, Buckcock made me say "what can I do, I'm just a little man?", My wife and I created this board game called Cashflow. This is the key to the cashflow game here.
This is called the financial statement. Add a financial statement to Monopoly, you have cashflow. This is financial literacy: how do you understand numbers? That's why the beauty of cashflow games today is that we have thousands and thousands of cashflow clubs all over the world; Teaching people without going to school and getting student loan debt. Now, you have to go to school to become a doctor, lawyer, engineer, but you don't have to go to school to be rich.
So today around the world I asked that Dr. What Fuller asked, I started empowering people to learn. So around the world, today, every day, in different languages, people are teaching people the same lesson that my rich father taught me. This is a financial statement here: Income, expenses, assets, liability. The beauty here is this: this is your report card when you leave school. My bank was never meant to ask for my grade point average or which school I went to.
My bank wants to see my financial statement. Most people cannot take loans because they do not have a financial statement. They don't even know what it is when they leave school; Even college graduates. The reason I can borrow hundreds of million dollars: I have a strong financial statement, it is financial literacy. It is very simple here; Its income, expenses, assets, liabilities. Poor fathers always asked to go to school and get high-paying jobs.
The problem with education is that they teach you to be an employee. Rich Dad taught me to be a property-grabbing entrepreneur: four greenhouses, one red hotel. Assets are very simple: you can plant an apple seed, that apple seed goes into a tree, harvest the apple, you sell the apple, then you rein in your profits, and you build an orchard Use to do it; This is how you get rich.
Or a friend of mine, when he was in high school, his grandmother gave him some chickens, those chickens laid eggs, he sold eggs and revived him. When he was 45 years old, I think he sold this business, he was selling ten million eggs a day to Costco and Walmart. You do not have to be a rocket scientist to create wealth. It is buying a pair of chickens. It's kind of weird. So the power of words - financial literacy starts with words because words affect your brain. As my poor dad said, "I can't stand it."
In Sunday School I learned "the word becomes flesh." Every time you say that you cannot afford it, and you say that I am poor, I am a loser, I cannot do anything, I am helpless, the government should take care of me. Disgusting! Rich Dad taught me, "How can I afford it?" So when I had no money, my wife and I just kept thinking, "How can I afford this?" Very soon, your mind opens up, and when wisdom comes. The most important term and money are basic, there are only four: [income], assets, liabilities, cash flow, that's it. This is what financial literacy says: income, assets, liabilities, and cash flow.
You understand those four words basically, then you can build your vocabulary. Money is a language, but it is not taught in school. It taught job security being an entrepreneur. Watch for job security, instead go for financial freedom. If someone should take care of you and said, "I'm going to take care of other people." As an entrepreneur, I have thousands of employees.
this is my work; To create other jobs, to give them a safe life. So number one is assets, number two is liabilities, cash flows; These are the obligations. The reason for the poor middle class growing up is that they feel that their house is an asset. If you read "Rich Dad Poor Dad", I said that there are many things: the savers are losers, and your house is not an asset. It came out in 1997. In 2007, the subprime market crashed, and millions of people worldwide found that their home was an obligation.
If you use the wrong word to describe the wrong issue, you will always be stupid and broken. So don't call a liability an asset, and that's why so many people break up. They are using the wrong words, and the words become flesh. Financial Literacy - Change Your Words, Change Your Life. Never say, "I can't stand it." Ask yourself, "How can I tolerate this?" Work to acquire assets, not liabilities.
Ladies and gentlemen, we have thousands of cashflow clubs around the world: people are teaching people. You don't have to go to school to get rich. The thing is, as Bucky Fuller challenged me, "What can I do, I'm just a little man?", I stopped making purses, and I started making sense. My wife and I created this cashflow board game that is played around the world today.
Every day, thousands of people are teaching themselves. That's how you change the world. But if you change your words, you change your life. So the best news is that the words are independent. It does not take millions of dollars to change the world. Just change your words.
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