Regarding the current national debt that the US is carrying, Robert Kiyosaki, author of “Rich Dad, Poor Dad” and a successful real estate investor, said that national debt and federal deficit will continue to increase. This is thanks to Fed Chairman Ben Bernanke who is so much more interested in saving his own little rich friends in the Mega-banks, then saving the American people. By replacing old national debt with new debt, Kiyosaki commented that Bernanke is “turning the US into a zombie nation”.

Kiyosaki wrote in his article about his 2010 forecast that the recession is over but the US is entering a new era where a few rich elites will become extremely richer and richer while the rest of the nation will become poorer and poorer. If you are the average American who only lives from paycheck to paycheck, you will experience that taxes is killing you.

Furthermore in his 2010 forecast, Kiyosaki wrote that the real estate market will yet experience another hurricane in the mid of 2010 and it hasn’t even recovered from the last crash yet. The second half of the real estate hurricane will hit mid of this year in 2010. He argues,

In the summer of 2009 mortgage resets were low — around $15 billion a month. This is when optimists began to see “green shoots” in the economy. The green shoots were the eye of the storm.  In 2010, as I see it, the second half of the financial hurricane hits. By late 2011, the resets climb to nearly $40 billion a month. The storm will not end until 2012.

WiseGeek.com defines a “mortgage reset” as:

… sometimes part of a balloon mortgage [which] has several features. Generally when people first obtain their mortgage, they might have the option to pay much lower interest rates or make interest only payments for the first few years of owning the home. However, at a specific point, either the entire amount of the mortgage becomes due or the mortgage is readjusted and reset with a higher interest rate. This can dramatically increase monthly payments, and the mortgage reset certainly contributed to higher foreclosure rates in the latter part of 2000 because of many lenders’ inability to make larger monthly payments.

In his arguement, Robert Kiyosaki said that the hurricane will not end until at least 2012. During this period, people who are trying to buy distressed properties will think of this period as ‘the best of times’. However, those who will be trying to sell will be in the worst of times. Mortgage lenders and property owners, buckle up!

If you are trying to use your home as an ATM machine, forget it. Those times are long over. This is crushing retailers and also retail real estate. Shopping centers and strip malls will be empty because shopkeepers will close permanently. Consequently, offices, warehouses and all other kinds of commercial real estate will crash as well.

If you prepared yourself and invested in gold and silver between 1997 – 2004, these times will be the best of times for you!

To read the whole article of Robert Kiyosaki regarding his prediction for 2010, click here.

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