Larry Fink: What I worry about are things that we never talk about. And as I said last night, retirement is a topic that we refuse to talk about. We refuse to talk about the the percent of Americans who don't have any adequate retirement. We refuse to talk about how to create a better solution if we want a vibrant economy. If we want an economy that can grow 3% a year, because that's the only way we're going to get out of our deficit problem. So we haven't even talked about the deficit issues. But if we if we are sincerely focused on how to build an economy that could grow at 3%, so debt debt to GDP can that can become more normalized from this apparently high rate that we are living in today? We have to focus on how to build more hope back into society. And one of the fundamental foundations of fear and hope is this fear of retirement, this fear of inadequacy, of having enough to live on, the inadequacy of understanding. What does this all mean? And if you then overlay the blessings that we are and health care discoveries, and we spend so much time talking about these blessings of health care discoveries, and we're doing everything in such magnificent ways in terms of finding new solutions to extend life. What a great blessing. What a great miracle. But we are not ever willing to talk about, well, can we afford it? Can we afford that longevity, and that longevity risk now in a defined contribution as described as, as structured today in America in most cases puts the entire longevity, risk back to the participant. And so we need a conversation and we need to talk about it. We need to have some bold solutions. And this is something that I'm passionate about. And just as a simple fact, over 55% of the assets that we manage out of the $11.6 trillion are retirement assets. And, and we are trying to lead innovation in our and defined contribution for one case here. But we need a conversation. And the conversation has to start in this city. And it has to become a priority. And we all must be talking about how do we reprioritize some of our issues within our country. And if we can reprioritize, I hope the whole concept of helping our families, helping even our Gen Z kids start learning what it means to save. If we could then restore more hope in our society.
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