In an appearance on Bloomberg Markets: The Close on Thursday, BlackRock CEO Larry Fink predicted years of inflation. About inflation he said, …”there’s great recognition that inflation is not transitory, it is probably with us for a number of years.”
Interviewer David Westin asked if the markets can recoup. He said, “probably not, totally”, After making note of the recalibration of growth stocks causing much of the problem, along with a change of policy in the Federal Reserve, he talked about picking winners and losers.
“If you look at the volatility in the market, it’s spread between winners and losers. It’s pretty broad this year. We’ve taken out a lot of those gains that we’ve seen during the COVID years and the two years we were changing our lives, and emphasizing different companies. Now, we’re seeing the reverse impact of that. That’s one of the foundations of it. But now, there’s great recognition that inflation is not transitory, it is probably with us for a number of years.
Fink and BlackRock are pushing ESG, a system that picks winners and losers according to leftist values. If it causes inflation, he likely sees that as collateral damage. Years of inflation is the predecessor of the new world order. It’s the breakdown they need to get to it.
BLACKROCK, THE WOKE CAPITALISTS
Blackrock is the world’s largest asset manager and they are WOKE capitalists moving us left. Larry Fink pressures public companies to go along with the WOKE principles.
In his annual letter to chief executives, BlackRock Chairman and CEO Larry Fink wrote that “climate change has become a defining factor in companies’ long-term prospects … But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance.”
Years of inflation, if necessary, is the vehicle to overturn capitalism as we know it.
Blackrock, which controls $7.8 trillion of assets, holds hundreds of meetings with corporate leaders in which executives are grilled on how they are complying with the asset manager’s “diversity, equity, and inclusion” agenda, Breitbart reports.