(Tony Sifert, Headline USA) BlackRock co-founder and president and Rob Kapito has claimed that an “entitled generation” of Americans is going to have to learn how to sacrifice in light of skyrocketing inflation, Bloomberg reported.
The Harvard Business School-educated oligarch — who according to the Daily Mail “has an estimated net worth of more than $400 million and made $24.6 million in total compensation in 2020” — was speaking at an Austin, Texas, conference put on by the Texas Independent Producers and Royalty Owners Association.
Rob Kapito is stealing young people’s opportunity to start families by buying homes. He grew up (b. 1957) in a world where people could get an education without 6 figures in debt. He’s sitting atop 2 generations which control a tiny sliver of the wealth his had at the same age.
— Tara Ann Thieke (@TaraAnnThieke) March 30, 2022
“For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito told conference attendees. “And we have a very entitled generation that has never had to sacrifice.”
“I would put on your seat belts because this is something that we haven’t seen,” Kapito continued.
There can be little question that Kapito and his firm are delighted that Americans are likely to become even more dependent on the shadowy dealings of public-private finance.
They’re admitting it right out in the open
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 yearhttps://t.co/THslASg5DG
— Jack Posobiec 🇺🇸 (@JackPosobiec) March 30, 2022
Chapman University professor Joel Kotkin has called BlackRock’s business model “the feudalisation of ownership.”
“Enjoying record profits, some large banks like Britain’s Lloyds bank are working to gobble up an emerging market in distressed properties, apartments and even single-family homes,” Chapman wrote at Spiked. “This trend is already pronounced and growing in the US, led by firms like BlackRock.”
“In the first quarter of 2021, investors accounted for roughly one out of every seven homes bought, a marked increase from previous years,” Kotkin continued.
“Soon most middle-class people will be ‘priced out’ of ownership in a ‘rentership society,’ where homes, furniture and other necessities are turned into rental products offering endless cashflow to the oligarchs,” Chapman wrote.
