If you missed it, Steve Wynn, the casino mogul, recently had quite a bit to say regarding the economy under President Obama during his Q2 results call. In fact, being an actual job creator, he credibly explains the present unemployment situation better than any pundit, commentator or Political Derby writer ever could.

The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don’t invest, their holding too much money. We haven’t heard that kind of talk except from pure socialists. Everybody’s afraid of the government and there’s no need soft peddling it, it’s the truth. It is the truth. And that’s true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I’m telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he’s gone, everybody’s going to be sitting on their thumbs.


William Jacobson’s analysis
summarizes this well.

It’s been something I’ve been writing about since before the election, the Obama effect.  It’s why Obama owns the job losses in the late fall of 2008 and winter of 2009 even before he became president.  The Obama effect since the moment it became clear he would become president has forced investors and businesses to the sidelines.  Would the layoffs in November 2008 through January 2009 — which reqularly are blamed on Bush — have been as bad except for the business fear of what was to come under Obama?  I think not, businesses prepared for the worst, which is exactly what they got.

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