BlackRock CEO Larry Fink became one of the latest of the oh-so-clever financial manipulators to discover that their greed may have sucked them into a trap of their own making. At the beginning of the air assault on Iran, Fink, with significant stakes in major U.S. military contractors, appeared on Fox News with the scenario that, with the breaking of Iran, which would not take long, “there’s a great probability that oil is going to be below $50.” So, smart investors would get deeper into the markets, “buy more,” and ignore the rough ride. Another country stopped from using its natural resources for the progress of its own population had to work out as a “good long-term opportunity” for investors.
This week Fink warned on BBC of an impending global recession if the U.S.-Israeli war drags on as present, with oil prices remaining above $100 per barrel, potentially hitting $150. He, of course, avoided saying “depression” or “collapse,” but he offered that the world of “3-digit” level oil would spark “a probably stark and steep recession.”
