Saturday, 02 November 2024

Former CEO of Home Depot and Chrysler, Bob Nardelli, Issues Stark Warning on Economic Outlook: “Ready To Crack”

100 Percent Fed Up
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Why is it that every other day recently a major CEO comes out with a dire warning about the U.S. economy?

I’ll let you answer that question in your own head, just remember I don’t make the news I just report on it.

The latest warning comes from Bob Nardelli, who famously predicted the so-called “retail apocalypse”.

If you don’t know him, here’s a short bio:

Educational Background: Bob Nardelli holds a Bachelor of Science in Business from Western Illinois University. He further honed his business acumen with an MBA from the University of Louisville, equipping him with a robust foundation in strategic management and leadership.

Professional Accomplishments: Bob Nardelli’s illustrious career spans several top-tier companies, showcasing his exceptional leadership and strategic vision. He began his career at General Electric (GE), where he spent over 25 years. During his tenure at GE, Nardelli held various senior management positions, demonstrating his adeptness in operational efficiency and growth strategies.

Nardelli’s notable success came as the CEO of Home Depot, where he served from 2000 to 2007. Under his leadership, Home Depot experienced substantial growth, with revenues nearly doubling. His strategic focus on operational improvements and customer service enhancements solidified Home Depot’s position as a leading home improvement retailer.

In 2007, Bob Nardelli took on the role of Chairman and CEO of Chrysler, steering the company through challenging times. His leadership played a crucial role in stabilizing the company’s operations and positioning it for future success.

Awards and Accolades: Throughout his career, Bob Nardelli has received numerous awards and accolades for his contributions to the business world. He was named one of the “Best CEOs” by Institutional Investor magazine multiple times, recognizing his exceptional leadership and strategic insights. Nardelli’s innovative approaches and ability to drive growth have earned him a place among the top business leaders in the industry.

Market Predictions and Strategic Insights: Bob Nardelli is renowned for his accurate market predictions and strategic foresight. His ability to anticipate market trends and adjust business strategies accordingly has been a hallmark of his career. Notably, Nardelli correctly predicted the “retail apocalypse,” foreseeing the significant impact of e-commerce on traditional brick-and-mortar stores. At Home Depot, Nardelli’s focus on expanding the professional contractor business and enhancing supply chain efficiency were key factors in the company’s success. His strategic decisions have consistently delivered strong financial performance and shareholder value.

He recently went on record as saying the U.S. economy is “ready to crack”.

Take a look:

And here are the details from The Daily Mail:

The fault lines of the US economy are ‘about ready to crack’ – that is the stark warning from one of the America’s top CEOs Bob Nardelli.

The former boss of Home Depot and Chrysler says the Biden administration’s policy missteps could create significant challenges for the next president.

‘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,’ Nardelli told FOX Business.

‘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.’

In April last year, Nardelli warned about trouble for retailers, saying: ‘We’re going to see a lot of bankruptcies.’

He was proved correct. More than 5,500 shops shut in 2023 and in just the first four months of this year the retail bloodbath has continued with closures hitting 2,600.

His accuracy on that makes his latest warning even more worrying.

Nardelli was asked on FOX what he thought about Biden’s green agenda since taking up office in January 2021.

Critics have described the policies as a ‘war on fossil fuels,’ and have pushed up energy prices. Americans are also grappling with increased expenses for groceries and rent.

‘The inflation pipeline has a long tail, and I’ve seen it across many areas, both on raw materials and labor,’ Nardelli said

He noted that apartment rents have surged, citing an example from downtown Atlanta where the cost of a two-bedroom apartment has risen to about $3,500 a month – double what it was three years ago.

‘It’s really depressing to see the impact on family net worth and income levels,’ Nardelli continued.

‘Even though we’ve seen 40 percent wage increases in some cases, it’s being totally absorbed by inflation and the cost of living.’

A recent Wall Street Journal analysis found that American households’ net worth has stagnated during Biden’s tenure.

Nardelli’s warning is the latest about the US economy in recent weeks.

But it’s not just Nardelli.

Earlier this week it was JP Morgan’s Jamie Dimon AND Goldman Sachs CEO David Solomon:

Jamie Dimon (JP Morgan) Preparing For “Things To Go Terribly Wrong”

Jamie Dimon (JP Morgan) Preparing For "Things To Go Terribly Wrong"

Jamie Dimon is back in the news today, admitting he is preparing for basically every bad scenario under the sun.

On one level, that's just what a good CEO does.

They are constantly doing a "SWOT" analysis and looking for any hidden risk anywhere they can find it.

SWOT stands for Strengths, Weaknesses, Opportunities, Threats.

Risks fall under the "Threat" category.

Some of the best CEOs are constantly paranoid, constantly looking for anything that could take their business down.

And that's what Dimon sounds like in this clip.

Watch here:

As I said, on one level it's just good business.

In fact, we've warned you plenty ourselves that we too see a MAJOR risk coming in the form of an EMP Attack.

Those details here (and what you can do to prepare) if you missed it:

Here’s Why I Think An “EMP” Is The Biggest Threat To America Right Now

But Dimon is as connected as they come, and some are wondering if he has the insiders playbook...

Does he know what's coming next?

Does he know a big Black Swan event is coming?

I think these are all fair questions:

In fact, it really caught our attention recently when we saw that Jamie Dimon suddenly filed paperwork to sell a ton of his shares in the Bank.

Why is that weird?

Because he has NEVER done that before.

Literally, never before in 18 years.

But now he's cashing out.

Why?

Well, inquiring minds want to know.

Here was our prior report (I will publish in full below):

Insider’s Selling (Part 3): Jamie Dimon Sells MILLIONS Of Stock — First Time Ever In Over 18 Years

Insider's Selling (Part 3): Jamie Dimon Sells MILLIONS Of Stock -- First Time Ever In Over 18 Years

This is Part 3 of a 3-part series about Stock Market Insiders selling massive amounts of stock in their companies.

Parts 1 and 2 are listed below in case you missed them:

Insider’s Selling (Part 1): Jeff Bezos Sells $8.5 BILLION of Amazon Stock

Insider’s Selling (Part 2): Walton Family Cashes Out of Wal-Mart!

And now part 3, featuring JP Morgan Chase CEO Jamie Dimon.

This is a fascinating one to me because since Dimon became CEO of the bank in 2006, he has NEVER sold a single share --- until now:

That's 18+ years and not a single sale.

So why now?

Why $150 MILLION now?

Is Dimon selling perfectly at the top?

That remains to be seen, but what we know for sure is he perfectly bought at the bottom:

In other words, I'm following this guy!

Here are more details, from the NY Post:

JPMorgan Chase chief Jamie Dimon cashed in about $150 million of his stock in the bank — the first time the head of the largest US lender has sold shares since taking charge in 2005.

Dimon, one of the longest-serving chief executives on Wall Street, unloaded 821,778 shares of JPMorgan, according to an SEC filing Thursday.

The selloff is part of a larger plan the bank revealed in an SEC filing in October to sell 1 million of the 8.6 million shares Dimon and his family own.

A spokesperson for JPMorgan confirmed to The Post that “this was the planned sale of less than 10% of his holdings that we announced last October.”

Jamie Dimon in a suit gesturing as he speaks during a Senate hearing on Wall Street firms.

At that time, a regulatory filing attributed Dimon’s trimming of his personal stake in JPMorgan to financial diversification and tax-planning purposes.

U.S. stocks smashed a new record high last week, but the rally may not last for long thanks to heightened risks that the economy returns to a 1970s-style stagflation scenario.
US heading to 1970s-style stagflation, JPMorgan Chase strategists warn

Chase sued over ‘unconscionable and predatory’ junk fees for depositing checks that bounce
JPMorgan shares were up over 1%, to $183.07, in early trading Friday and the firm has a market capitalization of $527.3 billion — the largest of any US bank.

Year-to-date, JPMorgan has already seen its share price rise more than 6%.

Year-to-date, JPMorgan has already seen its share price rise more than 6%. Under Dimon’s nearly two-decade reign, JPMorgan’s shares have increased some 250%.

Year-to-date, JPMorgan has already seen its share price rise more than 6%. Under Dimon’s nearly two-decade reign, JPMorgan’s shares have increased some 250%.
Even after the selloff, Dimon and his family still own about 7.6 million shares in JPMorgan, which has more than $2.5 trillion under management, per the bank’s website.

Dimon “continues to believe the company’s prospects are very strong and his stake in the company will remain very significant,” JPMorgan told The Post in October after announcing his planned stock sale.

Dimon’s transactions involving JPMorgan shares are subject to the terms of Rule 10b5-1 of the Securities and Exchange Act of 1934, the bank told The Post, which requires insiders to sell company stock by setting up a predetermined plan that specifies a transaction date and the amount of stock to be sold.

So....what should you do?  What CAN you do?

I will repeat what I've said in all 3 parts of this series....I am NOT a financial advisor -- hear me clearly on that -- but if you'd like to get out of stocks and into something SAFER for your retirement, may I suggest that Gold has ALWAYS been God's money?

Gold has never failed, it was money in the Bible and it's still money today.

And a store of value.

So how do you protect yourself?

And your family?

How do you stay safe?

And....here's a nice kicker....how can you do it with no money out of pocket?  (Yes, really!)

Simple: you need to get some #Gold or #Silver in your own possession.

It's called "physical" gold and silver.

Not paper traded garbage on the stock exchanges that isn't backed by anything.

Don't touch that stuff.

I have two special hook-ups for you.

Both involve PHYSICAL gold and silver.

Because if you do NOTHING else, make sure you own "physical" gold and silver, not paper contracts.

The paper contracts (like stock ticker SLV and GLD) could very well go POOF one day and disappear or go to zero, because they're not actually backed by the gold and silver they claim to represent.

It's a massive game of musical chairs out there and when the music stops (and I think it will stop soon...) people who only own paper might find themselves owning something not worth the paper it's literally written on.

And I know you'll never forget it if I give you this GIF so....Let's Get Physical:

Now...WHERE do you get physical gold and silver and how do you know it's real and safe?

And that you're getting the best price?

Oh, and how about personal one-on-one real customer service?

You know, like you were some Big Wig millionaire at Goldman Sachs who could just call their personal banker and get help?

That's what I'm about to tell you.  

I have two killer connections for you...

The first is for purchasing gold and silver bullion.

That means bulk bars.

That's the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.

The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you'll know you're in the right place.

You'll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.

How about that!

You don't see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:

No sales pitch, just real, actual help.

And the best prices you will find.

Here's the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back.  Just be patient.

Good things come to those who wait!

You can contact Ira and WLT Precious Metals here.

Ok, that was #1.

Now I want to tell you about option #2.

An equally great company, I am so happy to be working with these guys.

This next company is called Genesis Gold and this is for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).

You know what the beauty of that is?

TAX FREE baby!

I'm not a tax advisor, but that's a general oversimplification.

Never pay more taxes than you are legally required to pay.

And that's why I love getting gold and silver in my IRA (and why I hold a large chunk in an IRA myself!).

There's so much to love about Genesis Gold, starting with the fact they are proudly and un-ashamedly Christina!

They call it "Faith-Driven Stewardship" and they put it right on the homepage of their website along with a quote from Ezekiel:

Wealth Preservation With Gold & Silver –
The Genesis Gold IRA

By your wisdom and your understanding you have made wealth for yourself, and have gathered Gold and Silver into your treasuries – EZEKIEL 28:4

Genesis Gold Group believes the Bible gives clues on how man-made currencies (paper money) represent instability, and a lack of virtue and encourages living wastefully in excess.

Conflicts have beleaguered us since the dawn of civilization, and they can all be encapsulated into one battle. The battle is between currency, man-made paper, and gold and silver — the two precious metals found in our Earth’s crust, sent to us by our Lord to use as money. Man-made currency always leads nations down the path to increased war, greed, and ultimate collapse. History has shown that abandoning gold and silver has always been a bad idea. Gold and Silver enforce discipline, nurture self-constraint, self-reliance, and balance, and lead to confidence, a restrained government, and a more stable foreign policy.

Genesis Gold Group believes in empowering faith-driven stewardship with Gold & Silver are an integral part of a balanced portfolio. Protecting your finances with precious metals has never been more crucial during these trying times.

With a combined 50-plus years in the precious metals industry, let your Genesis gold and silver experts guide you through the simplicity of asset protection and growth with our Genesis Gold IRA.

Sincerely,

Genesis Gold Group

Empowering Faith-Driven Stewardship

Oh....and they're VERY good at what they do.

You also get physical gold and silver with Genesis, believe it or not!  The gold and silver is purchased for you (in whatever combination of coins and bars you prefer, a picture taken and sent to you, and then stored safely in a vault for you!

I love what these guys are doing.

Here's more on why gold and silver in your IRA are so powerful:

You can contact Genesis Gold here.

They are also very backed up with record demand, so you may have to wait a bit, but someone WILL get in touch with you for personal customer service and assistance!

Tell 'em Noah sent ya!

Oh, and did you know Genesis is recommended by SUPERMAN himself?

It's true.

Superman himself, Clark Kent -- Dean Cain -- came on my show a few weeks ago and we broke it all down:

Watch here:

Stay safe!

Make sure you can weather the storm when it hits!

Because the storm always hits eventually, doesn't it?

As for me and my house, we will be ready. 💪

This is a Guest Post from our friends over at WLTReport.

View the original article here.


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