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Economy

Former Home Depot CEO warns Biden's economy created a 'wrecking ball' for the next president

2024-05-21

[FOXBUSINESS] Former Chrysler and Home Depot CEO Bob Nardelli warned that the fault lines of the economy are "about ready to crack" on Monday, adding that the Biden administration's alleged policy missteps could leave a cumbersome mess for the next person who sits in the Oval Office to clean up.

"What I've seen over the past three-and-a-half years is that a series of debacles and missteps have created a tremendous pressure on the fault lines of our economy, and they're about ready to crack," he told FOX Business' Maria Bartiromo.

"Whoever gets the next stint in the White House is going to be hit with a wrecking ball in trying to correct the missteps and the overspending of this current administration, so we're in for a rough time, I would say."

Nardelli's comments came in response to questioning about the green climate agenda that has been echoed in policy since President Biden took office in January 2021. The often-described "war on fossil fuels" has led some economists and commentators to call out the administration for hindering U.S. oil production and contributing to higher energy costs.

At the same time, Americans are taking hits from other elevated necessity costs, including groceries and rent.

Posted by:Fred

#6 closing the border, although it will take months will help

also, undoing Biden's energy Exec Orders will help

but legislation will also be required
- put an end to authorization of funds from the various 'stimulus' acts will be a test of Congressional guts

Posted by: Lord Garth 2024-05-21 19:36

#5 I thought theorists saying its a set up to make the next pres a fall guy got you called names and cancelled. Or worse, center ring during prog month.

Posted by: swksvolFF 2024-05-21 12:55

#4 Cue the Mylie Cyrus.

Posted by: Super Hose 2024-05-21 09:01

#3 How much mischief would Qatar fund if oil were $40/bbl?

Posted by: M. Murcek 2024-05-21 08:17

#2 Unleash energy development from the DoE, EPA, and judicial lawfare, open the lands for exploitation and watch the prices drop.

Posted by: Procopius2k 2024-05-21 08:06

#1 "Whoever gets the next stint in the White House is going to be hit with a wrecking ball in trying to correct the missteps and the overspending of this current administration, so we're in for a rough time, I would say."

I think the Market is poised for change. If Trump picks the correct running mate, it will likely be an astonishingly rapid recovery. Someone with business, energy knowledge and connections will be key.

One such possibility:

Doug Burgum was born on August 1, 1956, in Arthur, North Dakota. He received a bachelor's degree from North Dakota State University in 1978 and an MBA from Stanford University in 1980. After graduating from business school, Burgum worked as a consultant at McKinsey & Company from 1980 to 1983. He founded Great Plains Software in 1983, which was acquired by Microsoft in 2001. He then worked at Microsoft as a senior vice president from 2001 to 2007.

Burgum also served on several boards before being elected governor, including the Arthur Companies, Avalara, Atlassian, the Raikes School of Computer Science and Management at the University of Nebraska–Lincoln, and Intelligent InSites.

Posted by: Besoeker 2024-05-21 04:00

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