Thursday, January 22, 2015

Is Larry Fink(of Blackrock) a fink?

I saw Larry Fink on Bloomberg T.V in Davos and said some interesting things:one worry about U.S economy,overprice dollar will hurt U.S companies,in short lower oil prices means many layoffs in energy industry and less capital spending will hurt economy,in long run lower energy prices good for consumer(however I will remind Mr.Fink what John Maynard Keynes once said in the long ran we are all dead).Fink also said the Swiss by removing their control in their currency,which mean a higher value for the Swiss Franc will lead to recession in Switzerland and if it doesn't the Right-wing in Germany will put pressure on government to leave the Euro.Germany of course,live on export and Euro is far cheaper than would be the Mark,hence,a cheap currency means one goods oversea are cheap,hence,people will buy them keeping your factory at home humming.

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