Connect with us

Hi, what are you looking for?


Ex-Walmart CEO Issues Ominous Warning for Americans if Biden Fails to Act Soon

Mass layoffs are plaguing more than just the Big Tech industry.

On Sunday, former Walmart CEO Bill Simon joined “Fox & Friends Weekend” to warn Americans of the detrimental impact that corporate layoffs could have on the U.S.’s feeble economy.

“It’s crazy right now. We’re stuck in this loop of wage inflation, product inflation and cost inflation. And it’s just that cycle keeps going. And I think, unfortunately, an inevitable byproduct of some of the Fed’s moves and as the necessary medicine we have to take to kind of cool things down and get the inflation back under control on some of these layoffs that are coming,” Simon told co-host Will Cain.

Although the labor market remains healthy and one of the few bright spots in the economy, there are signs that it is beginning to soften. In addition to a number of high-profile tech layoffs over the past month, the economy added 223,000 jobs in December, the smallest gain in two years.

Federal Reserve officials have said they expect unemployment to climb as a result of their aggressive interest rate hike campaign. Updated projections from the central bank’s December meeting show that officials expect unemployment to rise to 4.6% by the end of this year, up from the current rate of 3.5%.

Cain pointedly remarked that unemployment “has to happen” in order to effectively cool inflation, leading him to ask the former Walmart president if he believes layoffs put the country “further down the road” to getting the economy back on track.

“Theoretically, yeah, I agree with you, Will. But the problem is, at the same time, there’s this wage inflation that’s going on. For example, last week, Walmart announced they’re raising their minimum wage, their starting wage to $14 an hour. That’s a 17% increase,” Simon replied.

“Food costs have gone up 23% in the last two years. So now, wages have gone up 17% at Walmart, 25% at Delta for pilots, 25% for the rail industry. And wage increases like that sort of counteract the employment layoffs that we’re starting to see. And so there’s a lot going on.”

The former Walmart president continued, bringing to light a unique problem that the U.S.’s immigration problem has imposed on the workforce.

“We need workers, but we need workers we can employ that are in the country legally. What’s happening now is you’re letting people in that can’t participate in the workforce but do increase demand. So, you have increased demand driving prices up without the workforce to be able to service it. So, it’s a complicated factor. Certain inputs are trying to solve inflation, but you have counteracting forces that kind of mess that up,” he said.

Simon further warned that consumers could be in a “world of hurt” if the Biden administration does not take action on the country’s inflation issue soon.

“I think the most critical thing that’s going to happen in ’23 is we have to get this inflation under control. Another year of high single-digit, low double-digit inflation, and we’re going to be in a world of hurt because inflation hurts 100% of the population,” Simon said.

  • CAVALRYMAN says:

    There is a lot of talk about the President this and the President that but he’s a small part of the problem. It is the communist democrats and RINO’s that spent trillions of dollars we do not have and they controlled the purse strings. An elimination of the career communists in the federal government is what is needed to stop this runaway train. Even the Trump Train can’t stop it at this point. The money is already spent.

    To get there we need a Convention Of States. Look it up people. Over 5 million supporters and 19 states representing OVER 120 million people have already agreed; IT IS A BIG SOLUTION FOR A BIG PROBLEM.

  • Joe Likeskids says:

    Both Biden and Harris must be removed from office for dereliction of duty violating their oaths of office and failing to protect our nation from foreign invasion. In acts of pure treason, they also sold our emergency oil reserve to China while destroying America’s energy industry. IMPEACH HARRIS & BIDEN NOW!!

  • Susan says:

    Wages went up by 17% but the food prices went up by 23% according to this article…see the problem?
    And I think that food went up by 100% not by 23%! Everything has doubled, making that 17% wage increase null and void!
    All of this is on purpose! In order to “build back anything” which is the UN/Biden’s motto, you have to destroy what is already there! The destruction of the economy and our health through Biden’s mandates are on purpose, making Biden the biggest Villan that has ever occupied the WH!

  • Buck says:

    Joe Biden and Liberals are genius at certain things. They are destroying this nation in record time. In 50 years, this country is totally unrecognizable to what it was.
    50 years ago, the spending power of .10 cents was equivalent to the spending power of $1.30, today.
    Open borders have added 30 million illegal immigrants to our population.
    Courts have completely transformed the Justice System into a merry-go-round of crime.
    Our government is ran by corrupt politicians, who literally make millions of dollars from under the table money.
    It took the last greatest Republic (The Roman Empire) 200 years to fall. Liberal Crooks, on both sides of the isle, have destroyed ours, in 50 years.
    In my opinion, it is unrecoverable. Stick a fork in the Constitutional Republic of the United States of America. We are no longer a Republic, nor ruled by the Constitution. We are a lawless nation, ruled by thieves, liars and criminals. We are finished. It may take a few more years to finish the Death Throes, but make no mistake, we are finished.

  • Trending Today


    DIRECTV and Newsmax Media, Inc. announced today that they reached a business agreement for a multi-year distribution deal that will return the Newsmax channel...


    There’s been another development in the Manhattan grand jury case regarding former President Donald Trump. New reports indicate the jury did not meet on...


    President Biden and Vice President Kamala Harris both made confusing comments during speeches Wednesday, but it was Biden’s that forced a correction from the...


    If there’s one thing Joe Biden must do as Donald Trump faces a mountain of legal challenges, he must keep his mouth shut. The...