Former CEO of Home Depot Bob Nardelli made clear how the policies of President Joe Biden will continue to damage the American economy in the near future.
During the May 20 edition of Fox Business’s Mornings with Maria Bartiromo, Nardelli agreed that further inflation was ahead due to Biden’s policies, especially his climate change-obsessed energy policy. “Day one of this administration they started the war on fossil fuel. And what I've seen over the past three-and-a-half years is that there's a series of debacles and missteps have created a tremendous pressure on the fault lines, if you will, of our economy and they're about ready to crack,” Nardelli said.
He effectively suggested that the dismal American economic situation is teetering on being an irreparable catastrophe, regardless of who wins the U.S. presidential election in November: “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, Maria, so we’re in for a rough time I would say.”
Nardelli and Fox Business anchor Maria Bartiromo were responding to a brutal report from The Wall Street Journal that highlighted an embarrassing factoid for Biden: “Adjusted for inflation, net worth was up just 0.7% through Biden’s first three years, compared with 16% through Trump’s first three years.” Biden has also presided over the devastation of Americans’ savings and declining wages, while prices continue to spike.
Nardelli also went after Biden’s absurd regulatory warfare on the American auto industry, warning that Biden’s eco-extremist energy policies would ultimately strain the grid. “They've been shutting down coal plants because of this war on fossil fuel and the grid is in a very very fragile state. And it will take years to improve the sustainability and durability of this grid,” Nardelli said.
He went on to criticize the president for pushing for electric vehicles, adding to electrical grid demand even as Biden’s regulations threaten the coal and natural gas that fuel the grid. Nardelli didn’t mince words about how “the hypocrisy and the ambiguity of this administration challenges common sense.”
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