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Fmr. Best Buy CEO on the Economic Outlook

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  • Description

    Former Best Buy CEO Brad Anderson on the uncertainties still weighing on the economy.

  • Duration 3:22
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All right meanwhile the GOP is hoping that a year from Sunday will be a -- -- selections.

That is an eternity in politics and then there's eleven jobs -- -- reports between now and then.

The trend so far not the president's plan but the numbers are at least positive.

Former Best Buy CEO Brad Anderson also coveted -- creators alliance from you know what I hear from folks.

The White House -- as they seem to be saying aren't.

We we won't get back to what the unemployment rate was we took office but it will be a lot lower than where was.

In the mid point -- -- when we -- office.

And -- that's going to be enough.

I think you could create a scenario which that's -- case I mean there's a lot of pent up innovation in this society.

-- ever of the businesses I see have lots of places where theoretically they can invest.

Bernie -- Orel.

I shale oil in terms of -- producing terms energy potential an energy independence.

In medical science retail -- she won't even in areas like Waste Management.

I see all -- of -- horizon for a lot of innovation so people had the courage to invest.

You could see an engine that starts the economy growing at a more robust rate more along the lines what people were anticipating earlier in the year and if that happened that could change the political dynamic.

I would argue that the president is not doing things to help set up that situation but that's entirely well -- -- and -- if you -- your druthers would you like to see.

Give me a couple quick things now he could.

Well you know we mentioned like things like -- retirement giving -- tax holiday.

I if you get a tax holiday to -- companies have money overseas but they have no they don't have the courage or desire to -- -- -- It won't do any good you gotta get things out of the way of businesses.

Yeah Bernie -- in the pipeline those kinds of things that -- -- stand in the way of us producing products here in America.

That -- feels customers' needs that that either cause people to be our cautious.

All or or do not believe they can get a return on that investment what you see that if you do things like a tax holiday.

-- you may see a very rapid rate of growth coming back as well I think there's a lot of pent up innovation.

We're learning things and NN -- and -- are developing capabilities at a very great rate that could be used -- to -- being used right now.

We are a little bit about the mood of the consumer it is shopper would soltys they are not really going gangbusters oral and optimistic.

And that it's going to be a lot of the holiday shopping season.

Because people just like CEOs I guess aren't really confidence that we spend a lot you've driven.

Yeah I think that's I think that's true.

The better the numbers get -- I think the fact that the last quarter grew a little bit I think more people -- ever probably pay attention at least in the people I -- -- pay attention to this.

And I think people are tired of being depressed and so I I I had to thank.

If any positive news get out there that you might see the consumer Begin to shift.

But there are still real things like the -- that your house is worth a lot less -- it used to be were running a long ago.

You do not have the same kind of discretionary dollars to spend and they are still you're still not that sure going to be able to keep your job all those things are still scary.

-- an interview you never is Brad thank you very much Brad Anderson very good seeing banks.

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