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When you manage procurement for multiple facilities, every order matters. But when it's for a hospital system, they matter even more. Grainger gets it and knows there's no time for managing multiple suppliers and no room for shipping delays. That's why Grainger offers millions of products in fast, dependable delivery so you can keep your facility stocked, safe and running smoothly. Call 1-800-GRAINGER Click grainger.com or just stop by Granger for the ones who get it done.
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This is Scott Becker with the Becker Business and the Becker Private Equity Podcast. Today's discussion is five Depressing Stories. So here's the five depressing stories today. And one's not so depressing, so bear with me on it. The first story is that it's been reported that this is the worst first quarter in the market in several years. So the first quarter S&P down about 7.8%, NASCAR about 8 to 10%, but the worst first quarter in four or so years. Second story story about even billionaires aren't safe. This year's market slump has wiped out 75 billion in wealth from Jeff Bezos and Mark Zuckerberg. So it is what it is. I don't think anybody's too concerned about them. But $75 billion in net worth, even if you're rich, that's got to feel no fun because if you're rich, you not about what you could spend. It's about your ego and a lot of other things. And so it's no fun to see 75 billion wiped out, I can assure you. Third, Robert Kiyosaki, who is the famous author of Rich Dad, Poor dad, says that essentially boomers don't have enough money to avoid being homeless. He argues that limited assets coupled with massive inflation will have a really negative impact on a lot of people. I'm afraid he might be right. He says, secure your nest egg, make sure you're saving, but a lot of people are going to get wiped out. Fourth and our fourth depressing story of the day, and sorry to have this kind of day. It is what it is. Fred Fed chair Jerome Powell tells a Harvard class that the national debt is a huge problem, that the level of debt is not sustainable. Powell, of course, is completely right. He said this in front of a wide ranging audience in conversation at Harvard Past not sustainable. It will not end well if we don't do something fairly well, which is some mix of cutting spending and probably increasing taxes. Some fifth we talked about this separately. The Motley fool says essentially that the apple is going to be the worst performing the magnificent stock seven to own during the next several years. That's the headline again. That's our five depressing stories for the day, I think. Fascinating to watch. We'll see how it goes. Let's hope it gets better. The good news is we're recording this on Tuesday and the market was actually up some on Tuesday. So some good news in the world. Thank you for listening to the Becker Business and the Becker Private Equity podcast. We sure appreciate your listening. Thank you very much.
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When you manage procurement for multiple facilities, every order matters. But when it's for a hospital system, they matter even more. Grainger gets it and knows there's no time for managing multiple suppliers and no room for shipping delays. That's why Grainger offers millions of products in fast, dependable delivery so you can keep your facility stocked, safe and running smoothly. Call 1-800-GRAINGER Click grainger.com or just stop by Grainger for the ones who get it done.