From the Daily Mail, March 30:
President of BlackRock investment firm warns an 'entitled generation' needs to brace for shock of shortages and higher inflation: Experts warn Americans will pay an EXTRA $433 a month for basic goods this year
- BlackRock President Rob Kapito made the remark at a conference on Tuesday
- Kapito, 65, said an 'entitled generation' would be shocked by coming shortages
- The BlackRock founder has an estimated net worth of more than $400M
- Meanwhile, average Americans will pay $433 more per month due to inflation
- Economists say nearly half of the extra costs will be from food and energy
- Shortages in labor and raw materials continue to drive up consumer prices
The president of BlackRock investment firm has said that an 'entitled generation' of Americans will face the shock of goods shortages for the first time in their lives as supply chain disruptions continue to spur high inflation.
'For the first time, this generation is going to go into a store and not be able to get what they want,' BlackRock co-founder Rob Kapito said at an energy conference in Austin, Texas on Tuesday, according to Bloomberg.
'And we have a very entitled generation that has never had to sacrifice,' added the 65-year-old Kapito, who has an estimated net worth of more than $400 million and made $24.6 million in total compensation in 2020....
....MUCH MORE
A whiff of class warfare in the air.
We are once again confronted with the anarcho-capitalist dilemma: should I raise the drawbridge or sell pitchforks to the mob?
