“In 2025 credit card debt is at all time highs. US debt is at all time highs. Unemployment is rising. 401k’s are losing. Pensions are being stolen. USA may be heading for a GREATER DEPRESSION [sic],” Robert Kiyosaki wrote in a tweet on X.

He went on to urge investors to buy gold, silver and Bitcoin. “I strongly believe, by 2035, that one Bitcoin will be over $1 million dollars. Gold will be $30k [sic] and silver $3,000 a coin. It will be the easiest money you ever made,” he wrote.

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Kiyosaki is no stranger to doom-and-gloom catastrophizing. Back in 2002, he wrote an entire book about his bearish predictions. The title says it all: “Rich Dad Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming…and How You Can Prepare Yourself and Profit from It!”

So based on Kiyosaki’s prediction of a “Greater Depression,” which parts do other financial experts agree with — and which do they disagree with?

Rising debt in the U.S. should raise more alarm bells than it has. The Federal Reserve reported that household debt reached an all-time high of $18.20 trillion in the first quarter of 2025.

“Consumer, corporate and government debt is out of control,” said Rod Skyles, writer for The Unconventional Economist. “The forces driving interest rates higher seem to be building at a rapid rate, creating at least the environment for a death spiral of debt.”

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Surging deficit spending at all levels of government have laid the foundation for a potential debt crisis. “The key driver to all this is U.S. government deficit spending, which leads to a much higher overall U.S. debt,” Skyles added. “We are currently in the fourth year of the worst Treasury market in history.”

In the May issue of the Wolters Kluwer Blue Chip Economic Indicator survey, economists forecast a 72% probability of U.S. inflation increasing “meaningfully” again over the next six months.

The survey of economists also averaged a 47% probability that a U.S. recession will occur over the next 12 months.

Economists do see a real risk of stagflation. The Blue Chip Economic Indicator survey uses a “misery index” as a gauge of stagflation, representing the sum of the inflation rate and the employment rate. Economists see it climbing to a peak of 8.1% in the third quarter of 2025 before gradually easing to 6.9% in Q4 of 2026.