In this weekend’s episode of “The Tim Dillon Show,” Robert F. Kennedy Jr., alongside actress Cheryl Hines, delved deep into the corporate control over America. Kennedy, known for his outspoken views, highlighted the immense power wielded by three major corporations: BlackRock, State Street, and Vanguard.
Kennedy pointed out that these three companies, which are all private equity firms, have an unparalleled influence over the American economy. BlackRock alone manages assets worth $10 trillion. Collectively, these companies own a staggering 88% of the S&P 500.
“BlackRock, State Street, and Vanguard… are on track now to control to own the corporate control of 60% of the single-family homes in America within six years,” RFK Jr. explained.
In the realm of global finance, BlackRock, State Street, and Vanguard are recognized as titans in asset management. Collectively overseeing trillions of dollars, their influence permeates financial markets worldwide. Together, these firms play a pivotal role in shaping the financial landscape.
This corporate dominance has real-world implications for ordinary Americans. Kennedy shared a common experience many face when trying to buy a home. Just as they’re about to finalize the purchase, a cash offer from an ambiguously named LLC swoops in, which is often traced back to one of these three corporations.
The overarching theme of Kennedy’s discussion was the erosion of the American Dream. The post-World War II promise that hard work and playing by the rules would lead to homeownership, stable employment, and a comfortable retirement is becoming increasingly elusive.
With corporations like BlackRock getting loans at the lowest interest rates, the average American, especially the younger generation, finds it challenging to compete.
Kennedy also touched upon the broader implications of this corporate dominance. He emphasized that homeownership is not just about owning property; it’s about being vested in one’s community. Homeowners care about their neighborhoods, schools, and local amenities.
They are more likely to invest time, money, and effort into improving their surroundings. Without the opportunity to own homes, people become less invested in their communities, leading to a potential decline in community spirit and cohesion. Kennedy’s insights provide a sobering look at the challenges many Americans face in today’s corporate-dominated landscape.