(FreedomBeacon.com)- Could there be one potential upside of this horrific war in Ukraine?
The CEO of BlackRock seems to think so.
Larry Fink wrote in a letter to shareholders of BlackRock, which currently manages a total of $10 trillion of assets all over the world, that the Russian invasion of Ukraine could actually mark the end of globalization.
“The Russian invasion of Ukraine has put an end to the globalisation we have experienced over the last three decades,” he said.
Fink explained that the “large-scale reorientation of supply chains” will be inflationary and that the invasion will also have an impact on cryptocurrency value, the transition from fossil fuels to renewable energy, and much more.
This may or may not be a positive thing for Fink – but for conservatives everywhere, it’s a sign that we were right all along about the dangers that globalization posed. Relying on supply chains that reach all over the world puts countries in danger, and means that one simple conflict could effectively cause a global economic crash, food shortages, and a host of other problems.
Fink predicted that, in the longer term, recent events will “actually accelerate the shift toward greener sources of energy.”
He’s probably right about that one. However, it’s important to recognize that renewable energy technology and infrastructure, as they stand, are not capable of generating the energy that the United States needs. In the meantime, President Joe Biden will need to find an alternative supplier of oil once the energy sanctions on Russia kick in by the end of June.
Read more about Fink’s letter here.