The Daily Populous

Thursday March 31st, 2022 day edition

image for BlackRock President Says ‘Entitled Generation’ Now Learning About Shortages

(Bloomberg) -- BlackRock Inc. President Rob Kapito warned that inflation is having dramatic effects on the economy, with an entire generation now learning what it means to suffer from shortages.

“For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito said at conference held in Austin by the Texas Independent Producers and Royalty Owners Association.

“And we have a very entitled generation that has never had to sacrifice.”.

The economy is reckoning with what he dubbed “scarcity inflation,” or the fallout from a shortage of workers, agricultural supplies and housing, and of oil in some regions.

“I would put on your seat belts because this is something that we haven’t seen,” Kapito said.

Kapito co-founded New York-based BlackRock, which is now the world’s largest asset manager with about $10 trillion in client assets and investments across the global economy. »

Sen. Mitt Romney suggests he'd back cutting retirement benefits for younger Americans

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Romney suggested he would favor cutting retirement benefits for younger Americans to address the debt.

Sen. Mitt Romney of Utah suggested that he'd favor cutting retirement benefits for younger Americans in a bid to stabilize safety net programs.

He didn't specify which programs, but a pair of safety-net programs that provide benefits to retirees include Social Security and Medicare. »

Alex Jones avoids jail, faces escalating $25K daily fine until he complies with Sandy Hook testimony order

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Bellis, who could have issued an order for Jones’ arrest to compel him to testify instead said the escalating daily fine would begin on Friday and would end only after Jones completed a full day’s deposition.

“If Mr. Jones sits on Tuesday April 5th, the fine will be $25,000 for Friday and $50,000 for Monday for a total of $75,000.”.

“It is clear that the (families) simply want and are entitled to the deposition of Mr. Jones who has continued to deliberately disregard the court process.”. »

EU wants to force fashion firms to make clothes more durable and recyclable

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“The products we use every day need to last,” Frans Timmermans, the European Commission vice-president in charge of the EU green deal, told reporters.

“The clothes we wear should last longer than three washes and should also be recyclable,” he added.

“It is very unlikely, almost impossible to see [the EU] applying rules to socks,” a senior EU official said. »

Breakaway Georgian territory of South Ossetia plans to join Russia

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The president of the Georgian breakaway region of South Ossetia said on Wednesday that the territory would take steps in the near future to become part of Russia.

Moscow recognized the territory and the coastal region of Abkhazia as independent after fighting a war with Georgia in 2008.

The republic of South Ossetia will be part of its historical homeland – Russia.”. »