Posted on 04/04/2022 7:08:38 PM PDT by anthropocene_x
Robert Kapito, the president of asset management behemoth BlackRock, earns about $20m a year and is worth around $400m. You can buy a lot of fancy trinkets with that kind of money but alas it doesn’t seem to purchase much self-awareness. We are in the middle of a cost of living crisis, with low-income households disproportionately affected by the highest inflation in 40 years. People are struggling to heat their homes and worrying about feeding their families thanks to rocketing food prices. Kapito’s reaction to all this? To complain to a bunch of energy executives about how entitled young people are.
“For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito recently said at an energy conference in Texas in reference to inflation. “And we have a very entitled generation that has never had to sacrifice.”
It’s not clear which generation 65-year-old Kapito is referring to. But I’d bet all the avocado toast in the world he’s not sneering about his fellow boomers. No, one imagines he means millennials: the generation who famously can’t afford housing because they fritter away all their income on takeaway coffee. The generation who earn 20% less than baby boomers did at the same stage of life despite being better educated. The generation that entered the workforce during a giant recession caused by corporate greed, can’t afford to have kids because it’s too damn expensive, and will be paying off student loans for the rest of their lives. On the one hand, millennials have grown up being able choose from around 45 different types of sugary cereals in a grocery store. On the other hand most millennials will never be able to retire. What’s the word to describe that? Ah, yes, “entitled”.
(Excerpt) Read more at theguardian.com ...
Pain is the only thing that will wake people up. And it is coming.
““For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito recently said at an energy conference in Texas in reference to inflation. “And we have a very entitled generation that has never had to sacrifice.””
He is correct as far as this statement goes. No love for him otherwise.
We live in a soft weak society where liberals run all the major institutions.
It will certainly dispense with a lot of liberal nonsense. If you're starving, you're not too concerned about personal pronouns and other "woke" bs.
> “And we have a very entitled generation that has never had to sacrifice.” <
Kapito is right about that. But due to his immense fortune, he’s really not in a position to be taken seriously. It’s kinda like a rear-echelon general telling his troops they need to quit complaining and buck up because an attack is coming.
Such a statement would probably be met with derision.
That’s right
I agree with him, too. Those Snowflakes who think Socialism is great should move to Venezuela for a couple of years. The others who bitch about Bezos’ wealth have the right to bitch if their work puts food on the table and a roof over the heads of 200,000 people. Until then, sit down and STFU. Oh...and how many of you were hired by the poor person you glorify?
I haven’t priced ramen at Walmart in years. Kinda curious.
The resentment that millennials feel for retired boomers is already palpable.
Has anyone else noticed TV ads lately? Hardly a white male anywhere. Almost every ad has a mixed or gay couple, or a black female...some white females. It’s woke overload. If you insist on this kind of crap, at least keep it in proportion to audience who is watching. A friend of mine was watching the TV show 911 with his grandson who loves fire engines. Then he found himself trying to explain why two men were kissing in bed, followed by two women kissing at work. He turned the TV off.
they all live in a Fisher Price world where there’s no sharp corners and all soft edges...
True, but if their resentment is based on “we want now” what you took 50-60 years to get, then they can stew in it.
Congrats on regurgitating tired stereotypes, but go ahead and, adjusted for inflation, price 40-50 years ago vs today the cost of food, fuel, housing (in particular), the cost of having a child the cost of having a higher education, account for the dozens of pickaninny rules and regulations that have built up, and try to suggest with a straight face that the reason young people today are having a tougher go of it is because they lack your work ethic and disdain for electric gadgets.
Better educated? By what measure? The number of college degrees conferred? Their heads are filled with mush that see them major in Happiness Studies (seriously, a college in NJ just put the major in place). They are not better educated in the things that are valued in the market place. You can argue they are more socially "woke" which, to me, means they have a disease that prevents them from functioning in the real world. Top all that with a mail order president whose policies have doubled rents in one year in some places. Oh well, at least the Snowflake's parents have a basement.
This was a stupid thing for a very wealthy man to say.
The people who will suffer most from all of this will be elderly ones on fixed incomes.
After prayer, you don’t know me and you don’t know where I am from. I am just now finishing my Master’s degree because I had to raise five children and a wife with multiple bouts of cancer. You can do ANYTHING if you learn how to delay gratification.
But our modern world doesn’t want to, and the people you are talking about vote for politicians who promise them they won’t have to wait. But go ahead, blame the boomers who actually did work and produce and make the things that everyone wants.
And maybe you can be the cheerleader for the millennials as they burn it all down. They will wait to eat you last.
That’s not how they see it. They see people that aren’t working, but their needs are met. Never mind that it was earned.
There are plenty that are just soft. But a lot of them live in the woods. Or are “exploited” by landlords, and the wage slavers that use their labor. Trouble is brewing.
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