Ah, the CEO of BlackRock, Larry Fink, that titan of finance, has once again graced us with his wisdom. In a world where the markets are as stable as a drunkard on a tightrope, Fink assures us that the “mega trends” are still chugging along like a stubborn old train. 🚂
In a riveting discussion on CNBC (riveting, of course, if you enjoy watching paint dry), Fink declared that artificial intelligence, data centers, and other shiny tech toys are still the future. But wait! There’s a twist! Thanks to President Trump’s tariffs and the looming specter of recession, some of these trends might be delayed. Shocking, isn’t it? 😱
“I do believe that the mega trends are still with us,” Fink pontificated, “whether it’s AI, data centers, infrastructure, the whole reorientation of our economy. So I think the mega force trends are not going to change by what has happened. But maybe the execution of some of these trends may be delayed or may be pushed out longer, but I still remain to be optimistic over the long run. Yes, we have to recalibrate, [and] I do believe we’re probably starting, or if not, in a recession.”
Oh, and let’s not forget inflation! Fink, ever the bearer of good news, warned that the market is underestimating how high inflation can go. “Yes, I think the market is still underestimating how high inflation can get, as you factor in all the tariffs, you factor in all these other issues, it’s going to be quite additive. I read in a report that if you just take the tariffs in the cost of home building, the average new home could be up as much as 26%. We already have a housing affordability problem…”
And then, like a philosopher pondering the meaning of life, Fink dropped this gem: “This is not a pandemic, this is not a financial crisis, this is something that we’ve created… The United States in post-World War II was a global stabilizer. We are [now] the global destabilizer.” Bravo, Larry, bravo. 👏
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2025-04-13 12:21