Billionaire Robert Mercer, a co-founder of the political action fund The American Legislative Exchange Council, was criticized for considering investing his money in Facebook and Uber.
In the latest proof that Americans just aren’t very bright, Mercer believes he saw the future of the economy – and there it was.
Long before “AI and robo-calling” came up as the next hottest technology, the billionaire told the London Telegraph that “a communist China” is doing better with global economic booms than a country that has no free enterprise system and that eats its lunch, that is, the United States.
The business mogul ran out of quotes. What he did include were scathing comments about the public sector and both parties.
“The last economic surge by America was created at the time of our founding and only in due course would be crushed by the state,” he said. “For every guy in the shadows the state relies on to pay for their protection they are there to distribute the welfare. The whole society comes under this cycle and it breaks every time.”
Just five years ago, Mercer could have written a book on how to build and grow a successful business in a socialist country. An increasingly more Communist-inclined America, and the collapse of political liberty as a political argument, would seem to tell a different story.
But because the Great Recession of 2008 was and is a sell-out event for any American capitalism or free enterprise system, wealthy Americans may be permanently stymied from reading Mercer’s international perspective.