by Naveen Athrappully at The Epoch Times
Bob Nardelli, the former CEO of Home Depot, is warning about more bankruptcies hitting the U.S. economy, and blames lawmakers for their delay in coming to terms regarding the country’s debt ceiling.
“I think we’re going to see a lot of bankruptcies. Like Bed, Bath, and Beyond. We got Walmart not only laying people off but closing stores. We got Accenture laying people off. We got Amazon closing distribution centers. So, I think there’s a tremendous-mixed message,” Nardelli said in an April 14 interview with Fox. At present, the “complexity” of the American economy is “different than anything I have seen in my 52 years.”
Nardelli also blamed Congress’ inability to work together to raise the U.S. debt limit as creating a burden on businesses, saying that he is “definitely worried” about the situation.
The former Home Depot CEO says he is seeing “inventory builds” in a lot of public and private businesses. He pointed to the 2007–09 period when the banking meltdown took “everything down.”
“I think we’re in a very complex environment. And, of course, this debt issue only adds to that. It adds to the certainty of uncertainty, what’s going to happen.”