Neon Nettle
© 2022 Neon Nettle

Subscribe to our mailing list

Advertise Contact About Us Our Writers T&C's Privacy Support Us © 2022 Neon Nettle All Rights Reserved.

BlackRock CEO Warns of 'Scarcity Inflation:' 'Something That We Haven't Seen'

'We have a very entitled generation that has never had to sacrifice'

 on 30th March 2022 @ 7.00pm
 for the first time  this generation is going to go into a store and not be able to get what they want   kapito said © press
'For the first time, this generation is going to go into a store and not be able to get what they want,' Kapito said

Millennials born between 1981 to 1996 are in for a shock after spending much of their lives in the economic utopia of cheap goods.

BlackRock Inc. President Rob Kapito told an audience in Austin, Texas, that an entire younger generation is quickly finding out what it means to suffer from shortages, according to Bloomberg.

“For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito said.

“And we have a very entitled generation that has never had to sacrifice.”

He said the economy suffers from “scarcity inflation” due to the fallout of labor shortages, lack of agricultural supplies and affordable housing, and high energy prices

weakening sentiment and worrisome inflation are because not everyone can easily navigate today   s economic turmoil © press
Weakening sentiment and worrisome inflation are because not everyone can easily navigate today’s economic turmoil

Perhaps the latest data from the Conference Board’s Consumer Confidence captures the mood of millennials, which by the way, is not great at the moment.

Their confidence in future economic expectations is slumping.

Inflation at a four-decade high is hampering households’ ability to spend.

Their real wage gains are negative when factoring in inflation, and their inflation expectations in March soared to a record high.

Inflation fears aren’t going away.

Weakening sentiment and worrisome inflation are because not everyone can easily navigate today’s economic turmoil.

Younger generations tend to be renters, own nothing, and have limited savings as they spend well beyond their limits.

Kapito warned:

“I would put on your seat belts because this is something that we haven’t seen.”

larry fink  ceo  and chairman of blackrock admitted that russia   s invasion of ukraine is disrupting the world order © press
Larry Fink, CEO, and chairman of BlackRock admitted that Russia’s invasion of Ukraine is disrupting the world order

As Neon Nettle reported last week:

Larry Fink, CEO, and chairman of BlackRock - the world’s biggest asset manager - admitted that Russia’s invasion of Ukraine is disrupting the world order that had been in place since the end of the Cold War.

Fink said in his 2022 letter to shareholders:

“The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades.”

“It has left many communities and people feeling isolated and looking inward.”

“I believe this has exacerbated the polarization and extremist behavior we are seeing across society today,” he said.

“Over the past few weeks, I’ve spoken to countless stakeholders, including our clients and employees, who are all looking to understand what could be done to prevent capital from being deployed to Russia,” Fink said.

The CEO said BlackRock is committed to monitoring the direct and indirect impacts of the crisis, and aimed to understand how to navigate this new investment environment.

“The money we manage belongs to our clients. And to serve them, we work to understand how changes around the world will impact their investment outcomes,” Fink said.

[RELATED] Top Russian TV Editor Heckles Putin on Live Show, Warns Viewers of 'Propaganda'

Share:
Steve Quayle Neon Nettle telegram

Facebook is heavily censoring information from independent sources.

To bypass internet censorship, connect with us directly by enabling our notifications (using the red subscription bell in the bottom right corner) or by subscribing to our free daily newsletter.

Get the latest news delivered straight to your inbox for free every day by signing up below.

SUBSCRIBE NOW

Subscribe to our mailing list

Follow Neon Nettle


PREV
BOOKMARK US
NEXT
on Nettle">BOOKMARK US NEXT on Nettle">BOOKMARK US NEXT on Nettle">BOOKMARK US NEXT