6/27/2010 – Chris Banescu -
In a recent interview, Steve Wynn, the successful American casino resort and real-estate developer, made some shocking observations about the unstable and aggressively anti-business atmosphere in America perpetuated by our own government. In his interview with CNBC, Steve expressed the nightmarish situation that US companies face due to the arbitrary, punitive, and misguided manner in which legislators in Washington, DC continue to endlessly tax and regulate businesses in America, while our economy continues to suffer and deteriorate.
In a criticism clearly directed at President Obama and the Democrats, Mr. Wynn focused on the key reason why America is now less stable and less business-friendly than even China: our own incompetent government in Washington! He explained how China now offers more political stability, more opportunities, and much more business-friendly environment than the United States:
[at 1:23 in video ]
“What about the regulation and government oversight of working there [Macau, China] as opposed to here?”
“Macau has been steady. The shocking, unexpected government is the one in Washington. That’s where we get surprises every day. That’s where taxes are changed every five minutes. That’s where you don’t know that to expect tomorrow. To compare political stability and predictability in China to Washington is like comparing Mount Everest to an anthill.
Macau and China is stable, Washington is not!
Is there a businessman or a media person in America that isn’t frightened about the next crazy idea that is coming from Washington. The financial institutions, the cars, the businessmen, the taxes, the health care, everything is Coo Coo. And God knows what’s next?
Steve Wynn also explains that the unpredictable and irresponsible manner in which our government is acting had created a “frightening” business climate in America and helped created an atmosphere of uncertainty for everyone. “The politicians are ruining us“, said Steve. He goes on to warn that “It’s got to stop. It’s got to stop!”
So when you ask me today about predictability and uncertainty in China compared to Washington, I take China. Washington is unpredictable these days. Washington is… No one in the business community from one coast to the other has any idea what’s next. And what’s even worse, the people that do business with us that buy our bonds in other countries don’t even know what’s next. The uncertainty of the business climate in America is frightening, frightening to everybody. And it’s delaying the recovery.
We’re on our way to Greece, in the hands of a confused and foolish government that is living up to the prediction of Alexis de Tocqueville who in 1909 said: “The American system of democracy will prevail until that moment when the politicians discover that they can bribe the electorate with their own money.” And boy it’s in full bloom today. So extreme that it would probably have an end unto itself. The public is frightened.
This Tea Party business is all about fear. There is a sense in the land of discomfort. There is a sense of fear that the politicians are ruining us. And the people are right.
It’s got to stop. It’s got to stop!”
View more of the interview script on the Chris Banescu website.