BlackRock's Credit Collapses Overnight. Will This Be The End? Blackrock faces huge losses on its books which are being restructured to mislead investors. What this means for asset managers and those whose assets they manage is alarming.
Prof Richard Wolff responds https://youtu.be/-GhUFoQRRjo AI (Grok4) Summary of "BlackRock's Credit Collapses Overnight: Is This The End? | Prof Richard Wolff Responds" This video, featuring economist Professor Richard Wolff, dives into the brewing crisis in the $1.7 trillion private credit market, where giants like BlackRock promote high-yield (12-15%) alternatives to stocks as "stable" investments for retirement portfolios. Wolff dismantles this narrative, exposing systemic fraud, opacity, and "extend and pretend" tactics that mask massive risks. Drawing parallels to the 2008 financial crash, he argues this could trigger a broader reckoning, with commercial real estate, zombie companies, and even AI hype amplifying the fallout. Below are the main points, structured by key themes. The Illusion of Stability in Private Credit Opaque "Black Box" Market : Private credit is pitched as a safe haven, but its illiquidity and manager-controlled val...