mark francis
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- Jan 15, 2021
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Some data can be mined and edited to paint a very rosy picture of the US economy, like focusing on the rich side while blocking out the poor side of so many 3rd world cities. Here is a real, both-side assessment of the US economy today.
Ex-CEO Warns Inflation and Mass Layoffs Reveal ‘Tremendous Shift’ in Economy | The Epoch Times 2-14-24
Ex-CEO Warns Inflation and Mass Layoffs Reveal ‘Tremendous Shift’ in Economy
A former top corporate executive warned that the economy doesn’t appear to be on a fast path to recovery due to higher-than-anticipated inflation and recent mass layoffs. ...
“We’ve seen companies where we’ve had $2 million of interest rates now explode to $12, $13, $14 million. And the free cash flow that we generate is going to pay the man,” former Home Depot and Chrysler CEO Bob Nardelli told Fox Business on Tuesday. “We cannot afford the type of interest rates that we’re buried [in] today. I mean, you couldn’t afford it as an individual in trying to balance your budget.”
The American public, he added, doesn’t fully understand how high interest rates “are killing” lower- and middle-market companies. ...
Aside from inflation, Mr. Nardelli warned that layoffs are also mounting. There has been a “tremendous shift in employment out there where people are being laid off.”
“The general population will not be duped by this aversion to try and blame inflation on corporate America. It starts at the raw materials, it starts at transportation, it starts at energy,” the former CEO said. “A whole host of things that are driving this up, wage increases.”
“This is all about, I think, trying to buy votes. This is all about an administration that is out of control,” Mr. Nardelli also said in the interview. “We have a strong bias towards spending versus having a conservative policy or a sustainable future.” ...
Ex-CEO Warns Inflation and Mass Layoffs Reveal ‘Tremendous Shift’ in Economy | The Epoch Times 2-14-24
Ex-CEO Warns Inflation and Mass Layoffs Reveal ‘Tremendous Shift’ in Economy
A former top corporate executive warned that the economy doesn’t appear to be on a fast path to recovery due to higher-than-anticipated inflation and recent mass layoffs. ...
“We’ve seen companies where we’ve had $2 million of interest rates now explode to $12, $13, $14 million. And the free cash flow that we generate is going to pay the man,” former Home Depot and Chrysler CEO Bob Nardelli told Fox Business on Tuesday. “We cannot afford the type of interest rates that we’re buried [in] today. I mean, you couldn’t afford it as an individual in trying to balance your budget.”
The American public, he added, doesn’t fully understand how high interest rates “are killing” lower- and middle-market companies. ...
Aside from inflation, Mr. Nardelli warned that layoffs are also mounting. There has been a “tremendous shift in employment out there where people are being laid off.”
“The general population will not be duped by this aversion to try and blame inflation on corporate America. It starts at the raw materials, it starts at transportation, it starts at energy,” the former CEO said. “A whole host of things that are driving this up, wage increases.”
“This is all about, I think, trying to buy votes. This is all about an administration that is out of control,” Mr. Nardelli also said in the interview. “We have a strong bias towards spending versus having a conservative policy or a sustainable future.” ...
