In the more than four decades since he co-founded Home Depot, 93-year-old Bernie Marcus has learned quite a bit about the economy and business in America, developing strong views about what works and what doesn’t along the way.
In a recent interview with the Financial Times, the billionaire discussed those views, lamenting the current state of the U.S. economy and sharing his concerns for the future.
“I’m worried about capitalism,” Marcus told the Financial Times. “Capitalism is the basis of Home Depot, [and] millions of people have earned this success and had success. I’m talking manufacturers, vendors, and distributors, and people that work for us [who have been] able to enrich themselves by the journey of Home Depot. That’s the success. That’s why capitalism works.”
Marcus founded Home Depot alongside co-founder Arthur Blank in Atlanta, Georgia, in 1979 after the pair were unexpectedly fired from another home improvement chain. Since then, the store has expanded to more than 2,300 locations across North America.
In Marcus’ view, however, the company could not have achieved the same level of success if launched in today’s market.
“We would end up with 15, 16 stores,” he said. “I don’t know that we could go further.”
That change, along with a general lack of work ethic among the younger generation, can be attributed to the rise of socialism, according to the retailer.
“[N]obody works,” he said. “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.’”
It’s A Woke World
Marcus further lamented an increasing lack of respect for the First Amendment, noting: “We used to have free speech here. We don’t have it. The woke people have taken over the world.”
The nonagenarian also acknowledged that, given his age, he is less susceptible to cancelation attempts, though that hasn’t stopped certain groups from trying.
In both 2016 and 2019, Marcus’ political support for former President Donald Trump angered some shoppers to the extent that they threatened to boycott Home Depot stores.
In 2019, while noting that he did not agree “with every move” Trump makes, Marcus told the Atlanta Journal-Constitution that he intended to donate to Trump’s reelection campaign because the then-president had “produced more than anybody else.”
Marcus also praised Trump for his “businessman’s common sense approach to most things,” holding that the United States was better off under the 45th president than it had been under the previous administration.
But while Home Depot sought to distance itself from its retired co-founder’s comments, Trump jumped to Marcus’ defense, urging his supporters to do the same.
“A truly great, patriotic & charitable man, Bernie Marcus, the co-founder of Home Depot who, at the age of 90, is coming under attack by the Radical Left Democrats with one of their often used weapons,” Trump noted on Twitter in July 2019. “They don’t want people to shop at those GREAT stores because he contributed … to your favorite President, me!”
“Fight for Bernie Marcus and Home Depot!” Trump added.
Ultimately, those boycotts appear to have been unsuccessful, given that the company has an estimated annual revenue of $150 billion.
Republican Support
Marcus has been outspoken in his conservatism for years, attributing his views to a love of the United States and the freedoms Americans enjoy.
“I think there are two big reasons why this country is so great,” Marcus said in another 2019 interview. “The first is our Constitution, which guarantees a freedom of speech and expression. The second is our free market system.”
“The free market system has been the biggest creator of wealth and prosperity the world has ever known, lifting billions of people out of poverty and far more superior than any government program could ever be,” Marcus added. “The free market is the tool that allows many to reach out and grab hold of the American dream.”
Given his love of capitalism, the entrepreneur’s past support for Republican political campaigns—including the presidential campaigns of Mitt Romney and John McCain—should not come as a surprise.
And Trump is not the only Republican candidate to have recently earned Marcus’ support. As a Florida resident, the entrepreneur has also donated to the state’s Republican Gov. Ron DeSantis.
“I give money to [Trump and DeSantis] because I hope they’re going to do the right thing,” Marcus told The Financial Times.
While adding that he thought Trump’s policies as president were “spot on,” Marcus demurred on which Republican he would like to see replace Joe Biden in the oval office.
“It’s going to be very interesting in ‘24 because I think that DeSantis will challenge him [Trump],” he said. “And may the better man win.”
Article cross-posted from The Epoch Times.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
