27 March 2024
Larry Fink, CEO of BlackRock, has issued a dire warning about the U.S. debt crisis, stating it’s more urgent now than ever. Fink emphasized that neither taxes nor spending cuts alone could solve the problem, likening the potential future to Japan’s economic stagnation in the late ’90s. He highlighted the danger of rising debt servicing costs, making it tough to combat inflation. Fink calls for economic growth through infrastructure investments, particularly in energy, to avoid a looming debt catastrophe.