‘Entitled’ millennial generation ‘never had to sacrifice’: BlackRock exec

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.

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 “has put an end to the globalization we have experienced over the last three decades.”

The head of the world’s biggest asset manager sent a letter to shareholders 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.

Carl Icahn, the billionaire investor and corporate raider, said last week that the American economy could be in for a “recession or even worse” as policymakers struggle to bring rapid inflation under control.


Earlier this month, the Federal Reserve raised interest rates by 0.25% — the first time since 2018 that the central bank has hiked rates — in an effort to get inflation under control.

The latest US inflation rate hit 7.9% — the highest in 40 years — underlining just how much prices have risen over the past year.

https://nypost.com/2022/03/30/millennials-are-entitled-generation-blackrock-president/

when?

 

[Standardized Profile]

Never knew Kiwifarms would be this willing to eat the rich. Not complaining, not endorsing, just saying.

We're not eating him because he's rich, we're eating him because he's a rich asshole. We eat assholes.

 

[thismanlies]

Never knew Kiwifarms would be this willing to eat the rich. Not complaining, not endorsing, just saying.

All it took for France to revolt was Marie Antoinette saying “Let them eat cake.”

Our country is being run by cunts like her.

 

[KittyGremlin]

We eat assholes.

Kinda gay but you do you

 

[Smaug's Smokey Hole]

Didn't we have this thread already?

 

[Mayor Adam West]

To be fair, there is some truth to this. At least for those in the West. I'm not saying that we are all entitled and that we are all filthy rich. But in many ways we are growing increasingly decadent when compared with our ancestors.

 

[Red Hood]

Kinda gay but you do you

Don't eat asses, only kick asses.

 

[JULAY]

The issue I see is that the Millennials and Zoomers really have no say. The US has been lead by the same Silent Gen and Baby Boomer Gen fucks since the 70’s. They’ve enshrined themselves and built non-democratic positions for their supporters.
The political class has gorged themselves while a lot of the Gen X, millennials, and zoomers are fucked finding meaningful or gainful employment. They shipped jobs overseas so they could get a little more money.

Their lives are relatively easy, but it’s hard to actually not be fucked by the retards in power. The Gravy Train already stopped in a lot of places, a lot of towns in the Rust Belt are dead. There’s no work and either you move or live in a ghost town.

You are correct on all counts. I have family in the Rust Belt, and it's fucking disturbing to see how utterly fucked the entire region is... You had places that had literally tens of thousands of steel jobs that are all gone now, and the local people celebrate when a new company comes in that is creating a few dozen jobs that pay shit money with shit benefits (if you get benefits at all), because there is literally nothing else. Well, there's despair, and heroin / fentanyl. But that's about it.

For a while, fracking was bringing in some money to the community, but most of the jobs that paid the best went to guys with experience in the oilfields from Texas and Oklahoma. Now, most of the drilling activity has been completed, so the only jobs left in the industry are run & maintain stuff that doesn't pay particularly well. Think $15 / an hour at the most.

And yep, the country is still run by Boomers, and the Millennial politicians from both parties are just fucking embarrassing in how goddamned stupid and incompetent they are. AOC, Lauren Boebert, Pete Butt Edge Edge and that crippled little faggot Madison Cawthorn? Give me a fucking break. Not saying that the Boomers who fucking ruined America are any better, because they assuredly aren't, but the newest crop of clowns certainly don't inspire confidence. I've always said that anyone who wants to be a politician shouldn't be allowed to, and seeing the new batch just reinforces that idea.

It took the Boomers 40 years to fuck the country up, and it's going to take at least that long to unfuck America, if that's even possible at this point.

 

[wtfNeedSignUp]

Let's be honest here, if any generation (not individuals) in the last 60 years had to sacrifice anything then we wouldn't be stuck where we are currently. Of course that sacrifice would have culminated in that guy's head on a pike.

 

[Takayuki Yagami]

The issue I see is that the Millennials and Zoomers really have no say. The US has been lead by the same Silent Gen and Baby Boomer Gen fucks since the 70’s. They’ve enshrined themselves and built non-democratic positions for their supporters.
The political class has gorged themselves while a lot of the Gen X, millennials, and zoomers are fucked finding meaningful or gainful employment. They shipped jobs overseas so they could get a little more money.

Their lives are relatively easy, but it’s hard to actually not be fucked by the retards in power. The Gravy Train already stopped in a lot of places, a lot of towns in the Rust Belt are dead. There’s no work and either you move or live in a ghost town.

And I think that lack of a say, of a stake, is quite important, because it probably informs a lot of our issues, ie. so many of us being absolutely fucked in the head. What’s one of the hallmarks of depression, and mental illness in general?

An external locus of control, and what follows from there are all sorts of maladaptive behavior.

 

[Unyielding Stupidity]

The best part (or worst, depending on if you still have even the tiniest shred of hope left) is that most of the people who claim to be against the upper classes will actively defend bloodsucking leeches like this, purely because people on the other side of the political spectrum also hate said bloodsucking leeches.

 

[Shidoen]

Then who gets all the abortions?

 

[Bussyking7]

You are correct on all counts. I have family in the Rust Belt, and it's fucking disturbing to see how utterly fucked the entire region is... You had places that had literally tens of thousands of steel jobs that are all gone now, and the local people celebrate when a new company comes in that is creating a few dozen jobs that pay shit money with shit benefits (if you get benefits at all), because there is literally nothing else. Well, there's despair, and heroin / fentanyl. But that's about it.

Learn how to code.

 

[thismanlies]

Didn't we have this thread already?

Hedge fund faggots should know better than to run their dick lickers.

Speaking of which, I wonder if they've shorted any stocks recently. I've been looking to do a little investing...

 

[Diesel Boogaloo]

It's rich coming from him, but he isn't wrong.

People historically have had to make choices. To eat or be warm. To breed or to buy property. To be educated or to be healthy.

The past few generations in the west have been very pampered. This is a luxury that was bought with the hardship of your ancestors. I'm saying yours because my lot isn't of western extraction.

The gravy train cant last forever. Maybe a bit of hardship will build some character.

Yes. Hate people like this for being the thieves they are. But also remember you are living on the backs of someone else's sacrifice and it isn't in infinite supply.

It's the Boomers who have been pampered their entire lives, not Millenials. Boomers had stable, well paying jobs, cheap education, cheap housing. They had all the benefits of the post-war economic growth with almost no downsides (getting drafted for Vietnam was the only bad thing that could happen to them). They even could have their unprotected sex orgies before HIV (and after being hippies, they turned into pearl-clutching hypocrites). They also invented participation trophies, since they couldn't stand that their baby was not getting a reward for being exceptionally mediocre.

In contrast, Millenials have been fucked from the start. Unprecedented college debt, unstable jobs in the age of offshoring, impossible to buy real estate, stagnant wages, no career prospects, fucked economy, and condescending privileged Boomers everywhere. And unlike Zoomers, Millenials as kids have been fed lies about their future prospects by Boomers and then blamed by Boomers for failing to bend reality to match Boomers' preconceptions.

 

[JULAY]

The best part (or worst, depending on if you still have even the tiniest shred of hope left) is that most of the people who claim to be against the upper classes will actively defend bloodsucking leeches like this, purely because people on the other side of the political spectrum also hate said bloodsucking leeches.

The best trick the rich ever pulled was getting everyone who isn't a part of their faggot club of fellow wealthy to fight each other over dumb bullshit all the time instead of storming their compounds and putting them to death in particularly gruesome ways.

It's the Boomers who have been pampered their entire lives, not Millenials. Boomers had stable, well paying jobs, cheap education, cheap housing. They had all the benefits of the post-war economic growth with almost no downsides (getting drafted for Vietnam was the only bad thing that could happen to them). They even could have their unprotected sex orgies before HIV (and after being hippies, they turned into pearl-clutching hypocrites). They also invented participation trophies, since they couldn't stand that their baby was not getting a reward for being exceptionally mediocre.

In contrast, Millenials have been fucked from the start. Unprecedented college debt, unstable jobs in the age of offshoring, impossible to buy real estate, stagnant wages, no career prospects, fucked economy, and condescending privileged Boomers everywhere. And unlike Zoomers, Millenials as kids have been fed lies about their future prospects by Boomers and then blamed by Boomers for failing to bend reality to match Boomers' preconceptions.

Growing up, all I ever heard from my Boomer parents and Boomer teachers was "If you don't go to college, you'll end up flipping burgers or pumping gas and you'll be a loser!"

Cut to them fucking up the entire global economy in 2008, all the recent college grads struggling to find a decent job and what did I hear?

"What, you think because you went to college you're too good to flip burgers?!"

A pox on all of them, every time a fucking Boomer dies, it makes the world a better place. They are, without a doubt, the worst, most entitled, most destructive generation in American history.

 

[tehpope]

I hope the last thing you hear is guillotine by death grips while they lead you the gallows while crowds cheer at your death.

 

[Damocles_Sword]

They haven't had anything TO sacrifice.

 

[Boom Boss]

You are correct on all counts. I have family in the Rust Belt, and it's fucking disturbing to see how utterly fucked the entire region is... You had places that had literally tens of thousands of steel jobs that are all gone now, and the local people celebrate when a new company comes in that is creating a few dozen jobs that pay shit money with shit benefits (if you get benefits at all), because there is literally nothing else. Well, there's despair, and heroin / fentanyl. But that's about it.

Why wouldn't they move somewhere else? Why would they use heroin and fentanyl?

 

[polonium]

Boomers are the first generation to leave their children poorer than they were. And even worse than that, they've enriched themselves at their children's expense, all while complaining their children are entitled.

 

[JULAY]

Why wouldn't they move somewhere else? Why would they use heroin and fentanyl?

Moving somewhere else takes money. Working a $25k a year job doesn't really allow you to save a ton. And they use dope because it provides an escape from the horror of their lives and lack of hope. And because a lot of the ones my age got hooked on legal prescription opiates because at one point doctors were handing that shit out like candy. They couldn't afford OxyContin at 80 dollars for an 80 mg pill, so they moved on to the diesel.