What happens when companies refuse to hire, even though there is an obvious need? It has to lead to reduced growth. If the majority of companies do this, I would think it would lead to a severe deflationary cycle.
If a few companies do this it is probably fine, but more interesting if most companies do this. It seems that it would be akin to a self inflicted depression with severe deflation.
Yes, of course familiar with BlackRock. People say they own everything, but they really just have ETFs. The biggest problem is the fact that they seem to have voting rights on the stocks that they purchase on behalf of their clients - it should not work like this.
