California is ‘going bust,’ finance expert who predicted Lehman collapse warns

Article Synopsis
During an appearance on “The Big Money Show,” Robert Kiyosaki, co-founder of The Rich Dad Company, warned that California is “going bust” due to poor financial management and an exodus of residents. He suggested that California, as a leading state, could negatively impact other states that follow its progressive policies. Kiyosaki previously criticized California on social media, claiming it is a “bellwether state” that reflects trends across the U.S. He predicted that California would raise taxes and cut subsidies, leading to increased crime due to police budget cuts. Kiyosaki himself has left the state and encouraged others to consider moving.
A survey by RedBalloon and PublicSq.’s February Freedom Economy Index found that over 86% of California business owners reported a rise in crime, and 67% are considering relocating their headquarters. Kiyosaki cited Elon Musk’s decision to move SpaceX and X headquarters to Texas, criticizing California’s laws as harmful to families and businesses.