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Home Depot co-founder Bernie Marcus on President’s policies’ impact on the economy and hiring.
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Quite a -- is what it's like Bernie Marcus -- vocal -- it.
Joining me right now Bernie you would always reminded me.
Much to the point it's senator Alan Simpson dons a waste -- we gotta get on it you know a thing about what it takes to get.
Business guys competent and hiring.
And and moving.
What do you think it will be and what do you want -- year added these guys tonight.
Well number one.
No it's not moving.
And it's not going to move and it's not gonna move until after this election is over.
And if Obama wins.
It's really not gonna go anywhere because business people know.
What the outcome is gonna be the outcome was will be higher taxes.
More restrictions -- due to the you know all the regulations that they have.
They know they gonna have labor problems they know they're gonna have problem with the EPA.
So we're not gonna see jobs created and no matter what they say the -- and a lot of what what Obama saying.
He's not gonna create any more jobs and he -- last three and half years -- just not gonna happen.
And so there waiting with bated breath and if we don't see this kind of change.
We -- looking for stagnation and I think the numbers -- right one point three going forward.
Offered this -- for business it's really not a good environment and is no reason for any businessman out the -- wanna.
Grow its business advances business hire more people create more problems obamacare is going to be a major problem business.
And let me bring up something to you -- you asked about.
What I think they should be talking about.
One of the things -- don't event that Romney should be talking about which I heard your program yes that you were talking about the price of gas.
And he said American people -- -- they got used to it.
But -- retailer and I will tell you something that you know I've lived through cycles for instance.
When that whenever there was of a problem with copper.
We have to raise prices in the store for the wiring and everything else.
If there was a problem in the lumbar area we would have to raise prices because you have to make up for.
The cost the demand.
Right now the price of gas.
Is causing a price increase across the board.
And when it would've when Obama talks about the middle class and protecting the -- -- 47%.
Let's use the 47%.
The truth is in a retail business this is had an effect on every product that's sold in the stores.
So when you buy one isn't having any -- an effect not why is at a more of an effect.
On on these on these calls.
Because they're not talking about it I didn't I don't know why they're not talking about it.
All they have to do was go out and speak to the retailers and speak to the business people that we have been speaking to and this is what they'll hear they gonna hear.
That they're getting squeezed dramatically.
To getting squeezed from all sides.
And a lot of it is based on what their -- because of the price of of fuel.
I don't know addition -- that you think there is a disconnect and Bernie.
Between the bosses you know and the folks who work formed another words talked to consumers and their surveys they're not robust enough -- -- charts.
But they're better than their bosses who were -- on the same questions.
And seemed much more pessimistic.
Well they are pessimistic.
And the problem is most employers on not explaining this to their employees do not go back to their employees -- saying hey listen.
If in fact gas goes to five or six of seven dollars a gallon.
By the way which is a great possibility you know what's happening in the Middle East today and is is anything between -- -- -- it's gonna go up.
And so what is gonna happen to the economy if that happens and and frankly it's gonna have a terrific affect them terribly effective on.
Middle America it's gonna have effect on businesses and it's going to end up.
Cutting out more employment the United States and that's is like -- downward circle is nothing to stop it and I don't see anything out there and I think.
I think that first -- -- Romney is not addressing himself to this Obama doesn't want addressed himself to this because aware of the fact this is a losing thing.
But you take the typical housewife today.
Who goes it fills up that car.
It's 55 to sixty dollars a -- -- a car.
What is -- got tougher stand on bread milk and -- Yes she's getting killed she's getting killed lot of -- he did -- middle class lower class -- clip you know the only ones who could afford it on other rich people.
Or 1% here and -- meaningless in this equation it's the middle class that's getting killed by the way Biden was brilliant.
Brilliant and what he said it's the first true thing he's.
That is that's very good.
Right yeah there aren't they are getting killed.
Bernie always a pleasure thank you very much the -- foundry tossed.
Great Home Depot what he had to overcome to get that puppy started that was then look at it now.
