There are certain people who, when they talk, you want to listen. You know, people who have been around a while have made some major achievements and learned a thing or two about life.
Home Depot co-founder Bernie Marcus is one such soul.
Thanks to Marcus, the American home-building process was changed forever in the late 70s when he brought lumber yards, tools, and appliances to the average shopping plaza. Naturally, his success led to a billionaire status and much experience with the world’s elite and financial sectors.
And at 93 years old, that experience has become rather invaluable. Say, perhaps, when a major bank fails and leaves its shareholders out millions.
If you haven’t heard, this is exactly what happened to the Silicon Valley Bank on Friday. And it’s leading experts like Marcus to conclude that there is more at stake than the millions the bank’s depositors held.
In fact, he says it’s another sign that our economy is in dire straits and that Democratic President Joe Biden is to blame.
As for the bank itself, Marcus is not surprised it’s failed. After all, it’s one that’s proven to be more than woke and corrupt in recent days, with its top officials selling out just days before the bank failed the rest of the world.
When it comes to Biden, it means there is no way he can still claim that he’s fixed our economy or made it great. Neither is it getting better or stronger. Instead, this is a sign that it’s collapsing even more.
And that means we can’t trust a thing Biden says.
As Marcus told Fox Business News “Cavuto Live,” “I can’t wait for Biden to get on the speech again and talk about how great the economy is… this is an indication that whatever he says is not true.”
Again, he repeated, “Whatever he says is not true.”
And how could it be when a supposedly great and strong economy is currently showing all the signs of destruction? As Marcus explains, it’s not great at all. People can’t pay their bills; inflation is still rising, and the Fed keeps raising rates.
All of it is indeed NOT good – no matter what Biden says.
Systemic Risk: Banks are Closing and Anxiety is High