BLACKROCK: ‘entitled generation’ needs to brace for shock of shortages and higher inflation
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.
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About the Author: NC Scout
NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at [email protected] or via his blog at brushbeater.wordpress.com .
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GUNS N GEAR
Surprise Surprise Surprise! Im going to start carrying a small fire extinguisher to put out the flaming heads.
R
The real government has spoken. Thanks for the intel.
Terms like sacrifice and shortage denote a master/slave relationship.
It’s a big club and we ain’t in it.
Yep.
🇺🇸 needs to a war in 🇺🇸 to “thin the herd”
Makes a person want to take a ball peen hammer to these sons of bitches.
Which generation is this guy talking about? The millennial generation that has been fighting multiple wars for two decades? The millennial generation that was told we HAD to get a degree to avoid working trades, and then when we did, and found ourselves in massive debt-theft, we’re told we were too lazy to work trades? I wish my generation had seen that coming, but 18 year olds are usually not going to be good with money. The powerful folks knew that.
Or is he talking about Gen Z? The average age for them is about 16 or 17. Exactly what major sacrifice or hardship would he like our 16 and 17 year old kids to have experienced by now?
Look, older folks. We know you hate us. We got the message.
Honestly, this should be interpreted as “we are going to make sure you suffer for our own profits.” But AP readers don’t have to be told that. You all already see what’s coming.
The most entitled generation is the one that’s been in power since the 90s.
That reality apparently hurts feelings.
Yes. Feels like boomers have been in power my entire life. I’m 36 and they still are. Gen X should be pissed. They got skipped entirely just so that the boomers could shit on us.
But obviously, it’s not all boomers. It just seems to be the ones in charge and their fans.
Bingo.
Keep in mind it was them who split the family farms to make subdivisions for short term profit and buying crap like time shares, trading in the land wealth of generations to hang out on a beach.
And passed the bill forward so the government can tax any gains away and the progeny have nothing.
I live in NW Florida farm country. Mostly peanuts and cotton. Some corn here and there. Subdivisions are creeping up from south of me. I’ve been trying to convince my wife, her parents, my parents, my siblings and their spouses to consider going west of the Mississippi. My wife and dad, and my wife’s mom are on board. No one else is. I own an acre in this rural farm town but I’m always looking for more. I feel like it’ll be tough to get along east of the Mississippi pretty soon. Maybe I’m wrong. Things are getting tight for people, even if they don’t know it.
I’d love North Carolina and East Tennessee but it sounds like it has population density problems just like we do.
Population density ain’t the problem.
Population replacement is. Texas has it bad. Invasion from the south, but a worse invasion from the west. No where is safe.
The influx of Californians are the worst.
The whole “had to get a degree” “education costs too much” thing is vastly over blown. Both of my kids are getting degrees. One graduates in less than 30 days. He already has a job making 6 figures, he was actively recruited. The other one is interning with a Fortune 500 Company this summer and that will likely lead to employment when he graduates. As someone who is “paying the bills” I know EXACTLY what a college education costs. But, there are ways it can cost significantly less if people are smart about it.
Example- oldest son- graduated from a top 50 (World Ranked) University in THREE YEARS with a double major and pulled a 3.77 GPA. How? AP Credits. Those AP exams cost about $40….each represents 3 credits or more of College Credit, seems like a bargain…. After his first semester in college they credited his Advanced Placement credits and he was a Junior equivalent! Saved and entire year of study and over $40k that way. The fact that he was way ahead on his degree track allowed him to to a 1 year internship as a Legislative Aide to our State Rep–who wrote him a very nice Law School Recommendation letter … When he applied to Law Schools he had FIVE free ride offers from good schools. The school he selected? $250k scholarship over 3 years.
When we looked at colleges we only looked at State Schools- there are plenty of Excellent public education institutions. Further, we went to the University of Alabama- they have a program- If you are an out of state student and can score a 32 on the ACT or 1420 SAT (both very good scores of course- those tests should be taken seriously) and have a 3.5 or higher GPA in HS- they WAIVE FOUR YEARS OF TUITION. WAIVE. FREE $100k+. Bonus! If your kid can complete their degree in 3 years (and they are reasonably generous with AP credits)- Guess What? Free Year of Graduate or Law School. I have at least 3 people in my social circle whose kids have gone to Alabama- from the Texas Panhandle!
https://scholarships.ua.edu/freshman/out-of-state/
Aren’t really really smart? Well, there are plenty of very inexpensive 2 year schools whose credits will transfer to 4 year schools in state. I know lots of local kids that have gone from rinky dink Blynn College to Texas A&M. This takes some planning. You have to do lots of research to see what will transfer, ensure you are taking the right classes etc….Gee, it’s like a job or something….Treat it that way and people will do fine. Do some research, figure out what your gifts and talents are–there are a shit ton of big companies with Job Shadowing or Mentorship programs…Find something you can do and like to do that’s an actual PAYING CAREER. Whether that’s college or trade school or some kind of blended “tech school” certificate program. There are plenty of degrees that offer marketable skills.
Yes, there are people who aren’t “college material”. Those folks should KNOW THAT going in. Look, nobody wants to admit their kid isn’t the fastest, smartest, bestest- but not all of them ARE the smartest, fastest, bestest- and that’s fine. They can still have a good life and be happy, healthy etc…but people need to make reasonable efforts to plan out their lives, research things etc…The economy of “I’ll get muh GED and work for GM putting pegs in holes for 40 years and live well” died 30 years ago.
I work in academia. I have a Masters Degree.
Generally speaking, college is useless. It is now dumbed down and have become indoctrination centers. Bachelors degrees mean nothing now. It is a piece of paper.
Part of my job is statistical analysis of workforce trends. This statement is completely and utterly inaccurate.
I can’t agree. There are still plenty of good degrees out there that will provide a comfortable living that you are only going to get at major universities. Are you saying an Engineering degree or a Veterinarian, Accountant (Big 4) or Pharmacist degree is worthless? Because I know KIDS (in their early-mid 20’s) making six figures on graduation day with those degrees. Many of them honestly. Maybe it’s just the people I know etc….but most of my sons’ friends who got college degrees are doing very, very well in life.
Are there opportunities to make a good living without a degree? Absolutely there are- but many of the better blue collar jobs- Plumber (Min GED, 3–4 Year Apprentice cert on file before taking exam etc…), Welder (Pipeline- 3-4 year apprenticeship, 2000 hr. certification coursework), HVAC (In Texas, 2000 HOUR Cert. Course, mandatory) etc….do require certifications- barriers to entry…. You aren’t walking straight out of high school or dropping out, with no other training and making $40-50 an hour. There are certainly entrepreneurial ways to do very well, but only a very small number of people historically really have what it takes to make that work.
https://collegefinance.com/blog/is-student-loan-debt-a-real-bubble-expert-opinions
College loans are a massive unfunded liability. Its easy to gloss it over if an advanced degree is far in the rear view mirror.
There’s always Tik Tok Millionairehood I guess….Lol…
Hahaha!!
You know it’s funny to me…..I know many guys in the trades, some friends, some clients- Plumbing (had one at my house yesterday), earth moving, electricians, hvac, butcher….EVERY ONE of them says the same damn thing- they can’t find anyone to work. These guys are in their 50’s and most make a very, very damn good living $150-400K a year- have multiple trucks working for them, bid huge jobs like all the electrical in a Walmart Distribution Center, clearing pads for a University to expand etc…Not “minor players”….
The butcher? Has a shop that was open for 40 years- under his father and then him. His unique products were in several local supermarkets in addition to the Custom Killing he did. He was willing to GIVE the business to someone if they would just come work for a couple of years and learn the trade, they shut it down 2 years ago. Done. Nobody would show up for more than a week or two.
The plumber? Has three trucks out working and could use 5. Can’t find anybody- and he pays better than McDonalds wages. Guys’ been in business over 20 years- commercials on TV etc…
Most of these guys say that fully 80% of the people who DO apply- can’t pass a piss test. They love their dope too much to work…. 1. Shit ain’t legal in Texas, regardless of whether you think it should be or not or what “Colorado does”… 2. No insurer is going to allow potheads to operate company vehicles or run electrical wires or operate heavy equipment….But people are too damn stupid and or lazy to put down the pipe.
Now, NONE of those guys started out making big money. None of them. They did hard, shitty, sometimes dangerous work for a long time- many working for real asshole bosses, before they really “made it”. And honestly, every one will tell you they know guys that started at the same time, in the same field etc…who NEVER broke out of 9-5 wage slave life. There is a lot that goes into being successful in any career- including some lucky breaks along the way.
If people don’t want to go to school and get a good degree and they don’t want to do physical work then they can fucking starve to death as far as I’m concerned. I’m really tired of hearing “There’s just no opportunity for young people today”- that’s bullshit.
This is true. Labor is short and the demand is high.
I get calls and emails frequently asking if I have any students I can recommend for jobs, and many times the answer is no.
Same thing when friends who own businesses ask. The ones who are willing to work usually already have jobs, or work at home on the farm.
It’s sad but the vast majority of them don’t want to work, particularly if it requires any kind of manual labor, or higher level thinking. They want to make six figures to sit at a desk and play on their phone all day, and many of them truly think that is a realistic expectation.
I’ve also pissed off students when I wouldn’t write a letter of recommendation for them, or in one case when I wrote a very honest, very negative one (I warned them that they probably didn’t want to use me as a reference) As I explain to them, if I recommend them I am giving my word that I believe they will be a good employee, and I won’t do that unless I honestly believe that it is true, as I’m not going to lie for them.