Former Chrysler and Home Depot CEO Bob Nardelli sounded off on inflationary pressures affecting Americans and policy decisions that have contributed to the hardship.
  • Asidonhopo@lemmy.world
    21·
    6 months ago

    Would have been nice if Nardelli could have elaborated on specific policies that he feels would contribute to this. The Biden economy isn’t perfect, it could be far worse, but honest criticism is helpful in a way that this vague hand-waving isn’t.

  • Bongo_Stryker@lemmy.ca
    1·
    6 months ago

    I think he’s probably right, or he could be right.

    It’s no wonder that ecology is often used as a metaphor for economy. They are both very complex systems with many subsystems that interact in multiple ways. An event or input can have short term results, but also long term consequences that manifest after years and last for years.

    If we accept that as true, then we must also accept that some of the economic difficulties we are facing today can’t be laid entirely at Biden’s feet, but were in fact caused by the short term thinking and mismanagement of the previous president.

    Clear-thinking observers will go further: one of the members here likes to repeat “life under Trump was good” but it stands to reason that much of the ecconomic success during Trump -or perhaps more properly despite him- were actually due to Obama.

    Obama was a disappointing president in many ways, but his administration did a somewhat ok job of digging america out of a financial crisis. That financial crisis he inherited -due to republican deregulation.

    In conclusion, the real issue here is capitalism, and the ongoing problem caused by commodifying things that should never have become market commodities. It doesn’t matter who tries to operate this shitty ill-designed system, whether it is republicans or democrat collaborators. The results are the same.