President of BlackRock investment firm warns an ‘entitled generation’ needs to brace for shock of shortages and higher inflation: Experts warn Americans will pay an EXTRA $433 a month for basic goods this year

BlackRock President Rob Kapito made the remark at a conference on Tuesday

Kapito, 65, said an ‘entitled generation’ would be shocked by coming shortages

The BlackRock founder has an estimated net worth of more than $400M

Meanwhile, average Americans will pay $433 more per month due to inflation

Economists say nearly half of the extra costs will be from food and energy

Shortages in labor and raw materials continue to drive up consumer prices 

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