This is one of the better segments I've seen on CNBC in a long time. Blackrock CEO Larry Fink spent the better part of an hour discussing the state of the market, some of the problems we face as a nation, and why the Fed taking their foot off the gas pedal is a good thing for equities (after the predictable knee-jerk reaction to the downside, obviously). Some of it is pretty shocking. The average American only has $25,000 saved for retirement. The unfunded liabilities of Social Security and Medicare are definitely over $100 TRILLION and are probably closing in on $200 TRILLION. But if you're not convinced that the market goes higher from here, you might be after watching this:
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i cannot believe they're are still talking about a "recovery" with a straight face, recession was 5 years ago....hmmm maybe it wasnt a recession after all....maybe we are not out of it...
Whether you want to believe it or not, the US economy is recovering. Data from this morning points to a 0.6% GDP expansion in Q1 (2.4% annualized).
Unemployment has trended down.
Any US equity index is obviously in bull market territory.
Until the whole thing blows up and the economy collapses, just in time for the next election.
I doubt that's growth in real terms. Inflation is creeping up.
I'm going to take a guess and say no.
Had a feeling you were going to post this. I absolutely love Larry Fink. Undoubtedly one of the smartest guys on the street.
Side note: Wasn't he in the running for Treasury Secretary?
Great interview, thanks for posting!
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