The people who own everything think we need to have hope.
Let’s see, what are the reasons they give us to have hope?
The climate crisis?
Eating insects instead of meat?
An ever increasing national debt that will turn our children into debt slaves?
Our elderly, mentally declining leaders who cling to their jobs until they die?
An endless influx of migrants who will overwhelm public services?
The steady collapse of our society?
“Hope is the thing with feathers,” wrote Emily Dickinson, the famous 19th century poet.
But Emily was a recluse who never married and once she reached adulthood, never left her house.
The chairman of BlackRock, which manages more than $9 trillion in assets, says the global economy is missing hope — an ingredient he says is essential for any financial outlook.
However Fink feels he’s alone in his positivity, explaining: “The biggest issue for me—and I say this to every governmental leader I see worldwide—what the world is missing today is hope.
“I see more fear than any time in my business career. I’m a long-term optimist, and we built BlackRock on optimism.”
There are many reasons for businesses to be concerned about the state of the economy, Fink acknowledged, from changes in labor supply and increasingly high wages. Yet such factors shouldn’t impact outlook in the long run: “Businesses adapt,” he reasoned.
However, he questioned why, in a sector seemingly built on optimism, there was such a lack of hope in the market at the moment.
“[BlackRock] is the largest retirement manager in the world,” Fink explained. “Why on earth would anybody ever put their savings into something that may have a 30-year outcome? That is optimism.
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