Finding Common Sense in China?

Las Vegas gambling entrepreneur Steve Wynn says that “common sense” has “disappeared in Washington, DC.” In a recent interview on CNBC, he complained about the federal government’s “wild, uncontrolled spending” and “unbelievable, unsustainable debt.”

Good point, of course, but nothing new. Still, Wynn’s rant went further. 

Wynn is opening a new headquarters for his casino empire in Macau, China, and was asked if he expected to find “common sense in Macau.” He didn’t mince words, arguing that the “opportunities” were “far superior abroad than in America.”

But what about the regulation and government oversight in Macau, China, versus the U.S.?

“Macau has been steady,” he replied. “The shocking, unexpected government is the one in Washington. That’s where we get surprises everyday. That’s where taxes are changed every five minutes. That’s where you don’t know what to expect tomorrow. To compare political stability and predictability in China to Washington is like comparing Mount Everest to an ant hill.

“Macau and China is stable. Washington is not. Is there a businessman or a media person in America … that isn’t frightened about what the next crazy idea is coming from Washington? … Everything is cuckoo and God knows what’s next.”

Wynn closed by saying, “The uncertainty of the business climate in America is frightening, frightening to everybody.… there’s a sense of fear that the politicians are ruining us …  It’s got to stop.”

Amen.

This is Common Sense. I’m Paul Jacob.