Young people have a right too, says CEO worth $400 million
Robert Kapito, the chairman of asset management giant BlackRock, earns around $20 million a year and is worth around $400 million. You can buy a lot of fancy trinkets with that kind of money, but unfortunately, it doesn’t seem to buy much self-awareness. We are in the midst of a cost of living crisis, with low-income households disproportionately affected for the highest inflation in 40 years. People are struggling to heat their homes thanks to rising energy prices and worrying about feeding their families thanks to skyrocketing food prices. Kapito’s reaction to all this? For complain to a group of energy executives about the rights that young people have and that it’s about time they learned a thing or two about how hard life is.
“For the first time, this generation is going to go to a store and not be able to get what they want,” Kapito said recently at an energy conference in Texas in reference to inflation. “And we have a generation with many rights that has never had to sacrifice.”
It is unclear which generation Kapito, 65, is referring to. But he’d bet all the avocado toast in the world that he’s not making fun of his fellow boomers. No, one imagines that it refers to millennials: the generation that, as is well known, cannot afford a house because they waste all their income on coffee to go. the generation that earn 20% less than baby boomers he did it at the same stage of life despite having a better education. The generation that entered the workforce during a giant recession caused by corporate greed cannot afford to have children because it’s too expensive and they’ll pay off student loans for the rest of their lives. For one thing, millennials have grown up being able to choose from around 45 different types of sugary cereals at a grocery store. On the other hand, most millennials will never be able to retire. What’s the word to describe that? Oh yes, “headline”.
Perhaps I am being unfair here. Maybe I misunderstood the report about Kapito’s speech. Perhaps his comments about an entitled generation that has never had to sacrifice anything were referring to his fellow billionaires and boomer billionaires. After all, the obscenely rich never seem to have to sacrifice anything, do they? Inflation certainly won’t keep you up at night worrying about how to keep the lights on – Wall Street Bonds jumped 20% last year with bankers getting an average bonus of $275,500 in 2021. They can afford higher heating bills. The federal minimum wage on the other hand? That stayed at $7.25 an hour, just like has since 2009. If it rose at the same rate as Wall Street bonds, then it would be $61.75 per hour.
If Kapito wants to talk about sacrifice, it would do him good to explain exactly what he and people like him plan to sacrifice. The 1% and corporations don’t seem to be suffering at all right now. Rather, they have been boasting about their record profits. Kapito is right about the entitlement issue in the US: we have a generation of entitlement executives who seem to think that sacrifice is only for poor people.
Rumors of cocaine-fueled orgies in the US government may have been somewhat ‘exaggerated’
That’s according to Republican Congressman Madison Cawthorn, who recently spread rumors of debauchery in DC and then very quickly escorted them back. One has to wonder what he means by “exaggerated”. Were the orgies fueled solely by Red Bull? Were the claims simply the product of an overactive imagination? We may never know.
H&M vows to end sexual violence in Indian workshops after worker’s death
Last year, Jeyasre Kathiravel, a 20-year-old Dalit woman, was murdered and allegedly raped by her supervisor at a factory in Tamil Nadu that made clothes for H&M. Her family said that Kathiravel had been sexually harassed by her supervisor at work for months, but she felt unable to stop it. Now H&M is sign a legally binding agreement to try to end sexual violence and harassment against female workers at one of its largest Indian suppliers. It is only the second such agreement in the fashion industry and the first time a brand has joined an initiative to tackle gender-based violence in the Asian garment industry.
Russian soldiers rape and sexually assault women, alleges ukrainian deputy
This is horrifying and also depressingly predictable: rape and sexual abuse have long been not just a byproduct of war, but a deliberate military strategy.
Male birth control pill begins human trials
There have been half-hearted attempts to create a male oral contraceptive since a time ago but they always seem to have too many side effects to be considered acceptable. It’s okay for women to deal with things like contraception-induced depression and weight gain, but we can’t expect men to suffer unnecessarily! Now, however, a promising new non-hormonal pill is being tested in humans and is expected to have fewer side effects. However, if men will really take it, is another question.
Would you wear breast milk around your neck?
Apparently mom bloggers are doing it. A growing number of breast milk jewelry boxes are popping up with names like “Milkies.”
The academy has a sexism problem
Twenty-eight percent of female faculty and staff surveyed by Gallup say they have been passed over for promotion at work for their gender. That’s a higher proportion than working women in the US as a whole.
The week at paw-triarchy
A team of researchers has said they are very close to creating hypoallergenic cats through Crispr gene editing technology. (I found this story on April Fools’ Day and had to search the internet for a while to make sure it wasn’t a joke.) I’m not entirely sure why we need to start creating genetically modified cats instead of just, say, making better antihistamines. Still, I’m glad to see that some of the best minds of our generation are working on the really hard questions.