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Ok, Now They’ve Gone Too Far

By Last Updated: October 4, 2023
Reading Time: 2 minutes

Larry Fink, the CEO of BlackRock, recently made headlines with a speech in Germany that has left many scratching their heads. The man who oversees more than $9 trillion in assets has the audacity to tell the average Joe that their “bad attitude” is what’s ruining the economy. Fink’s comments are not just tone-deaf; they’re a dangerous narrative that shifts the blame from systemic issues to individual attitudes.

The Condescension of the Global Elite

“They talk to people like they’re stupid, and it’s nauseating.” Fink’s comments are emblematic of a broader issue: the condescension of the global elite. Flying around in private jets and making billions, they have the gall to tell struggling individuals that their hardships are their own fault. This condescending attitude perpetuates a system where the rich get richer, and the poor are blamed for their plight.

The Illusion of Hope: A Dangerous Narrative

“Hope is not an investment strategy.” Fink argues that injecting “more hope” into the economy will prevent a self-fulfilling recession. This is not just naive; it’s irresponsible. Hope won’t pay the bills or put food on the table. Fink’s focus on hope as a solution is a diversion from the real issues, such as over-financialization and economic distortions, that need to be addressed.

The Reality Check: Other Voices in Economics

“At least some sanity is being brought into the conversation.” Wharton Professor Jeremy Siegel provides a counter-narrative, pointing out that the U.S. economy was propped up by YOLO spenders splurging their last of the pandemic cash. Siegel’s perspective offers a more grounded view of the economic landscape, one that doesn’t blame the average citizen for systemic failures.

The Political Ambitions: A Scary Thought

“The fact that he’s even given running for the White House some thought should scare the hell out of you.” When asked about a potential bid for the U.S. presidency, Fink didn’t outright dismiss the idea. This is a terrifying prospect, given his skewed worldview. The idea that someone with Fink’s perspectives could even consider leading a nation underscores the need for more scrutiny of our financial leaders. Larry Fink’s recent comments are more than just controversial; they’re a dangerous narrative that could have real-world implications. It’s time to stop listening to the puppet masters and start challenging their distorted views.

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