Rob Kapito is a Billionaire ( maybe even more) and never had to sacrifice a thing in his life- so easy for him to ask us to tighten our belts while Blackrock is looting retirement funds and buying up real estate so no one else can actually afford it.
Which one of his yachts will Rob "sacrifice"?
Might it be tar and feather time for Rob and Larry (Fink)?
(Factoid-I actually graduated high school with ((Rob Kapito.)))
Entitled’ millennial generation ‘never had to sacrifice’: BlackRock exec
By
Ariel Zilber (https://nypost.com/2022/03/30/millennials-are-entitled-generation-blackrock-president/#)
March 30, 2022 10:18am
Updated (https://nypost.com/2022/03/30/millennials-are-entitled-generation-blackrock-president/#)
(https://nypost.com/wp-content/uploads/sites/2/2022/03/blackrock-99.jpg?quality=75&strip=all&w=744)
Rob Kapito, the head of the world's largest asset manager, made the remarks on Tuesday during a conference in Austin, Texas.Bloomberg via Getty Images
Inflation and high gas prices are forcing a generation of “entitled” younger Americans to learn the pain of not being able to buy things at the store, the head of asset management giant BlackRock said.
“For the first time, this generation is going to go into a store and not be able to get what they want,” BlackRock President Rob Kapito told a conference in Austin, Texas, on Tuesday.
“And we have a very entitled generation that has never had to sacrifice.”
Kapito’s remarks were first reported by Bloomberg News (https://www.bloomberg.com/news/articles/2022-03-29/blackrock-s-kapito-says-scarcity-inflation-is-driving-economy?srnd=premium).
Kapito said that the US economy is beset with what he called “scarcity inflation,” which translates into a shortage of workers, supplies, housing, and even energy.
“I would put on your seat belts because this is something that we haven’t seen,” Kapito said.
Kapito’s comments came on the heels of a similar warning from BlackRock CEO Larry Fink, who said last week that the Russian invasion of Ukraine (https://nypost.com/2022/03/24/dramatic-video-shows-russian-warship-exploding-amid-ukraine-war/) “has put an end to the globalization we have experienced over the last three decades.”
(https://nypost.com/wp-content/uploads/sites/2/2022/03/millenials-51.jpg?w=1024) (https://nypost.com/wp-content/uploads/sites/2/2022/03/millenials-51.jpg)
Millennials are an “entitled” generation that never had to “sacrifice” and is now feeling the pinch of inflation, according to BlackRock President Rob Kapito.
Getty Images
The head of the world’s biggest asset manager sent a letter to shareholders (https://www.blackrock.com/corporate/investor-relations/larry-fink-chairmans-letter?campaign_id=4&emc=edit_dk_20220324&instance_id=56595&nl=dealbook®i_id=76211278&segment_id=86425&te=1&user_id=7965f8a3bc75ea080d96e1dfea67c214) on Thursday warning of dark days ahead for the world economy, signaling that inflation is of particular concern.
Fink predicted that the war will force countries to re-evaluate the extent to which their economies are interdependent on others. It could also spur economies to develop greater reliance on local manufacturing, according to Fink.
“Russia’s aggression in Ukraine and its subsequent decoupling from the global economy is going to prompt companies and governments worldwide to re-evaluate their dependencies and re-analyze their manufacturing and assembly footprints — something that Covid had already spurred many to start doing,” he wrote.
(https://nypost.com/wp-content/uploads/sites/2/2022/03/blackrock-02-1.jpg?w=1024) (https://nypost.com/wp-content/uploads/sites/2/2022/03/blackrock-02-1.jpg)
A BlackRock office located in Manhattan, NY.
LightRocket via Getty Images
Carl Icahn, the billionaire investor and corporate raider, said last week that the American economy (https://nypost.com/2022/03/23/global-bonds-fall-2-6-trillion-worse-than-2008-financial-crisis/) could be in for a “recession or even worse” as policymakers struggle to bring rapid inflation under control.
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Earlier this month, the Federal Reserve raised interest rates by 0.25% (https://nypost.com/2022/03/16/federal-reserve-raises-key-interest-rate-to-combat-inflation/) — the first time since 2018 that the central bank has hiked rates — in an effort to get inflation under control (https://nypost.com/2022/03/22/tips-at-restaurants-beauty-parlors-and-coffee-shops-decline-as-inflation-rises/).
The latest US inflation rate hit 7.9% — the highest in 40 years — underlining just how much prices have risen over the past year.