'Nobody gives a damn': Home Depot's co-founder says the rise of 'socialism' is m...
source link: https://finance.yahoo.com/news/nobody-gives-damn-home-depots-213000488.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Home Depot's co-founder says the rise of 'socialism' is making people 'too lazy,' 'too fat,' and 'too stupid' to work — here are 4 stocks to capitalize on that trend
As the largest home improvement retailer in the U.S., Home Depot has been quite the success story. But according to the company’s co-founder Bernie Marcus, that kind of success couldn’t be replicated in today’s economic and political environment.
“We would end up with 15, 16 stores,” the 93-year-old tells the Financial Times. “I don’t know that we could go further.”
The problem, according to Marcus, is the rise of socialism.
“Nobody works. Nobody gives a damn. ‘Just give it to me. Send me money. I don’t want to work — I’m too lazy, I’m too fat, I’m too stupid,’” he says.
To be sure, America isn’t known for being a socialist country. And Marcus’ comments come as the U.S. unemployment rate sits near a historic low of 3.7%.
But a recent poll from the Victims of Communism Memorial Foundation showed that 70% of millennials say they are either “somewhat likely” or “extremely likely” to vote for a socialist candidate.
“I’m worried about capitalism,” Marcus says. “Capitalism is the basis of Home Depot (and) millions of people have earned this success and had success.”
To be sure, Marcus’ observations don’t necessarily mean the end of capitalism. Some businesses even thrive as folks become increasingly “lazy,” “fat,” and “stupid” in Marcus’ words.
Here’s a look at four of them.
Don't miss
Gen Zers say they need a whopping $171k/year salary — here’s the average salary each generation say they need to feel ‘financially healthy’
UBS says 61% of millionaire collectors allocate up to 30% of their overall portfolio to this exclusive asset class
You could be the landlord of Walmart, Whole Foods and Kroger (and collect fat grocery store-anchored income on a quarterly basis)
Zoom Video Communications
When meetings and classes moved online due to the pandemic, business at Zoom Video Communications (NASDAQ:ZM) flourished.
But as the economy reopened and employees started going back to the office, there have been concerns about the growth potential of this video communications company.
- TheStreet.com
Elon Musk Sends Subtle Message to Disenchanted Tesla Shareholders
Elon Musk is used to facing critics, haters and detractors. He even likes these battles very much. Sometimes he even tends to provoke his supposed enemies. The Techno King, as he's known at Tesla , likes to turn his opponents' attacks into counterattacks.
5h ago - 19h ago
- TipRanks
Billionaire Leon Cooperman Says the Bear Market Is Expected to Continue in 2023 — Here Are 2 ‘Safe Haven’ Stocks That Analysts Like
Feeling optimistic the new year will usher in a change in stock market dynamics and shift sentiment from bear to bull? Well, Leon Cooperman has some bad news for you. The billionaire investor has been a fully-fledged bear for a while now and 2023 has done little to change his stance. "Anybody looking for a new bull market any time soon is looking the wrong way,” Cooperman said. In fact, Cooperman thinks there’s only a 5% chance the S&P 500 sees out 2023 above the 4,400 mark (up 13% from current
7h ago - SmartAsset
Do I Owe Taxes on My Social Security Income?
How Social Security income is taxed depends on how much income you have from other sources. Here are the 2022 IRS limits for individual and joint filers.
16h ago - 18h ago
- MarketWatch
Dear Tax Guy: I plan to make $6,000 selling stuff on eBay. Can I put it into an IRA instead of paying taxes?
Over the last 30 years I’ve accumulated a lot of “junk” from eBay (EBAY) Now, I’m also trying to clean out my house, and sell it at cost or a small profit. With eBay now sending out 1099s, I believe I have to pay taxes on the profits. Is it possible to use the income figure on the 1099, say $6,000, and contribute this amount to an IRA rather than claim the small profit and pay taxes?
10h ago - MarketWatch
Alibaba Shares Rise After Jack Ma Cedes Control of Ant Group
Shares of Alibaba Group Holdings are higher following news that co-founder Jack Ma is ceding control of affiliate company Ant Group Co., potentially paving the way to revive plans for an initial public offering by the fintech giant. Shares are outperforming a 1.7% gain in the city's broader Hang Seng Index and helping lift the city's tech index by 3.0%. Alibaba is a shareholder of Ant.
3h ago - Motley Fool
2 Top Stocks in Warren Buffett's Secret Portfolio to Buy Now and Hold Forever
Berkshire owns New England Asset Management (NEAM), a financial institution with $5.9 billion in invested assets, but none of those securities will appear in Berkshire's 13F filings. Instead, NEAM files its own Form 13Fs with the Securities and Exchange Commission. To be perfectly clear, Buffett does not control NEAM's invested assets, at least not directly, but he does run the company that ultimately owns those assets.
17h ago - Fortune
Bitcoin or gold? Beware the ‘malignant tumor,’ says ‘Black Swan’ guru Nassim Nicholas Taleb
"Technology comes and goes, gold stays, at least physically. Once neglected for a brief period, Bitcoin would necessarily collapse.”
9h ago - Fortune
Twitter employees laid off after Elon Musk’s takeover received severance payments today that fall short of expectations
Some Twitter employees finally received their severance after several delays, but the emails are being marked as spam.
1d ago - Motley Fool
3 Energy Stocks to Buy No Matter What Happens to Oil Prices in 2023
Oil prices enter 2023 in the mid-$70s -- around the same level they were at the start of 2022. Three that stand out to a few Fool.com contributors for their resiliency in any type of oil market are Enterprise Products Partners (NYSE: EPD), Enbridge (NYSE: ENB), and Chevron (NYSE: CVX). Reuben Gregg Brewer (Enterprise Products Partners): Profits in the upstream (oil production) and downstream (chemicals and refining) segments of the energy sector are heavily impacted by highly volatile oil and natural gas prices.
2d ago - Motley Fool
Should You Buy the 3 Highest-Paying Dividend Stocks in the Dow Jones?
Although the dividend yield is tempting, investors need to dig deeper into the companies to understand why it's so high.
17h ago - Insider Monkey
Jim Cramer’s Recession-Proof Stock Picks
In this article, we discuss Jim Cramer’s recession-proof stock picks. To skip to the top four stocks in this list, go to Jim Cramer’s Top 4 Recession-Proof Stock Picks. Warning bells for recession started ringing in 2022 and they haven’t stopped since. As if investors weren’t already spooked enough, a fresh warning comes straight from […]
1d ago - SmartAsset
Can I Retire on $10 Million?
A $10 million nest egg will pay for a comfortable retirement for the majority of retirement savers. However, whether that much is enough to fund any specific retiree's golden years depends on a number of factors. This includes pre-retirement lifestyle … Continue reading → The post Is $10 Million Enough to Retire? appeared first on SmartAsset Blog.
2d ago - Barrons.com
Tesla Has Issues. Buy the Stock Anyway.
The electric-vehicle leader has been hammered by China lockdowns, a possible recession, and CEO Musk’s antics at Twitter. But the company has real strengths and cheap shares.
6h ago - Motley Fool
Sitting on Cash? These 2 Stocks Are Great Buys
If there's an upside to a rough market, it's that when stocks fall, they often fall far enough that the company behind those shares looks like a downright bargain. Of course, even a bargain price is no guarantee of a positive return, especially in the near term. Grocery chain Albertsons (NYSE: ACI) has agreed to be bought out for $34.10 per share, less a $6.85 special cash dividend that has already gone ex-dividend.
17h ago - Motley Fool
Why Amazon, Alphabet, and Microsoft Could Rebound More Than Other Tech Stocks in 2023
The tech-heavy Nasdaq Composite plunged 33% in 2022, coming off its worst year since 2008. After tech's heady days earlier in the pandemic, inflation reared its head for the first time since before the Great Financial Crisis, and the Federal Reserve raised interest rates at its fastest pace in decades. While some may be expecting a big bounce-back from the most beaten-down tech stocks (which have fallen the farthest), lots of uncertainty remains.
18h ago - Black Enterprise
Young Black Traders Who Made $5M in One Year to Give Away $1M to Struggling Families
During their first year in business, they generated $5 million in revenue, and now they are on a mission to give away $1 million in trading profits from their own trades to urban communities over the course of two years.
2d ago - Oilprice.com
3 Solar Stocks To Buy And Hold Until 2026
The solar pv sector has been held back by rising costs since the end of 2020, but falling costs in 2023 could spur growth in solar stocks according to a new report from Goldman Sachs
8h ago - Reuters
Argentina and China formalize currency swap deal
Argentina and China have formalized the expansion of a currency swap deal, allowing the South American country to increase its depleted foreign currency reserves, the Argentine central bank said on Sunday. Argentina's government needs to rebuild reserves to cover trade costs and future debt repayments, and more reserves are a key objective of a major debt deal with the International Monetary Fund (IMF). President Alberto Fernandez announced the deal in November last year and said at the time it was worth $5 billion.
14h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK