Monday, July 12, 2010

Steve Wynn Takes On Washington - Wow!

Very candid CNBC interview with Steve Wynn - a mega casino resort/real-estate developer - who talks about the Fall of America.

Outstanding job Steve - you have superbly stated what most Americans are feeling, yet have difficulty expressing!












2 Comments:

At 7/15/2010 12:17 AM, Anonymous T Z said...

Steve Wynn said: "The politicians are ruining us."

Well, a correction, or clarification is in order. The people are also ruining the country. Because it takes two to tangle.

The whole thing started back during the reign of Reagan & Bush 1. That's when the power of lobby took off, when the politicians took people's money to get re-elected. Billion-dollar elections became commonplace. Soon, every constituent has a lobby representative, loaded with big checks. Everybody knows the politicians, those mostly in Congress, can be bought. The pols turn the money around to buy votes, and history most massive and unfettered democratic bribing systems took off like a rocket.

Before you know it, Congress was spending all the people bribe money, and tax money, and borrowed foreigners' money. But that's still not enough, they wanted more and the only way was the Federal Reserve print even more trillions to feed the government bonds that were routinely issued in $50 billion chunks. The bribes worked like they should - both branch of government passed laws and regulations, mostly de-regulations, to ensure the big re-election money keep coming. Irregardless of national consequences.

But these are not real money - they are credits. Trillions upon trillions of credit money were pumped into the economy to feed the fake good life, to create history biggest society of debtors.

Yes the politicians bribe the people. And the people like it so much, they kept on electing politicians who will bribe them. When a country believe it can issue trillions upon trillions of money without consequences because it is a superpower of world reserve currency, that country deserves to learn a historical lesson matched to the breathtaking degree of hubris and stupidity.

Where were you, Mr Wynn, when the road to disaster was paved during the past dozen years? Did you warn, or did you do your share of bribing politicians?

 
At 7/15/2010 6:58 AM, Blogger 45north said...

When a country believes it can issue trillions of dollars without consequences because it is a superpower of world reserve currency, that country deserves to learn a historical lesson matched to its breathtaking degree of hubris and stupidity.

well it does, but I still pray to God that the consequences will be deflected

 

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