Here’s what happens if the US dollar is dethroned: Fred Smith
FedEx founder and executive chairman Fred Smith discusses record debt, the state of the U.S. economy and his company’s growth on ‘Special Report.’
2/15/2024
ttps://www.realclearpolitics.com/video/2024/02/13/fedex_founder_fred_smith_gdp_growth_due_to_borrowing_from_our_grandchildren_not_innovation.html
FedEx Founder Fred Smith: GDP Growth Due To Borrowing From Our Grandchildren, Not Innovation
Posted By Ian Schwartz
On Date February 13, 2024
FedEx founder and executive chairman Fred Smith discusses record debt, the state of the U.S. economy and his company’s growth on ‘Special Report.’
BRET BAIER, FOX NEWS: You know, you and I have talked many times. You have been on this show talking about the economy. FedEx as a company started back in 1973. And we have this graphic of your company’s growth. It served 25 cities, you transported 186 packages that first night. Just last Cyber Monday you had 27 million packages in the U.S. alone. And you went from 1 billion in 1983 to 90 billion in 2023. One of the things that your company and you as leaders of that company can do is kind of see around the corner of the U.S. economy. Almost ahead of where we see it right now. What do you see from what you are looking at?
FRED SMITH, FEDEX FOUNDER: Well, the growth that we continue to report, the GDP In the fourth quarter was not because of invention and innovation, the things that have made the country great along with trade and our — the strength of our dollar. It’s been because we’ve borrowed from our grandchildren and we’re spending money today primarily to employ more people in government, healthcare, services, and other pursuits that are not being really driven by the fundamental engines of growth which is national productivity and invention and innovation. Everybody hopes that artificial intelligence will be the new-new thing that will create a lot of wealth. But, to date, over the last couple of years, we’ve simply been borrowing from our grandchildren and living beyond our means.
****
A wise man.
kommonsentsjane
kommonsentsjane 