On 4/12, I listened to an interview of Home Depot co-founder Ken Langone on “Your World with Neil Cavuto.” The interview mainly centered on inflation. As it’s the start of the MLB season, a lot of us have baseball on our minds, and as I listened, my mind wandered a bit and I wondered if Langone could hit.
When he stepped into the batter’s box, the Home Depot guy immediately came out swinging; he was obviously a free-swinger when he answered questions about inflation. He said that because of dithering, the Piper will now have to be paid. [On his first swing, he struck the ball well.]
Langone said, “This was not transitory, this was a real serious case of inflation. We lost a whole year on addressing the issue. Only because, frankly, we have leadership today in America that isn’t willing to admit when they’re wrong. They made a terrible blunder here, and now the price has got to be paid.” [He easily rounded first, heading to second.]
Mr Langone was just getting started:
“The other thing is we’ve exacerbated the problem. For example, the energy issue in America, we didn’t have to be deficient like we are. Hell, by now, that pipeline would have been almost complete. And Biden’s now saying, he’s now blaming the oil companies. This is a disgrace. …
It’s wrong. It’s absolutely wrong. And nobody’s doing anything about it yet, in a way that going to address the issue.” [Easily around second, and cruising toward third.]
As he was circling the bases, the founder of Home Depot predicted a recession, most likely in early 2023, and also predicted interest rates to go to at least 8.5%.
Langone continued, “The steps we’re taking right now will not help. And who’s going to get hurt? The little guy, the poor guy that’s living from paycheck to paycheck.” [Easily into third!]
(This is something I have been harping on for years … namely that the Democrats repeatedly do things that hurt the little guys the most, and it is reassuring to see that a heavy business hitter agrees with me.)
Langone closed out the interview by calling President Biden worse than former President Jimmy Carter … [a home run!]
4/19/22
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