Anthony Scaramucci
SALT (Skybridge Alternative Conference) convened at the Bellagio Hotel in Las Vegas recently, featuring the most prominent figures from both government and the private sector, all engaging in bipartisan debate and discussion. SALT founder Anthony Scaramucci kicked off the conference with a plea for bipartisanship to “fix the economy.” He told the story of a campaign visit to New Mexico where he was profoundly affected by “economic desperation.” Scaramucci paraphrased Churchill, telling the audience “our cause is bigger than ourselves.”
“The president is only one part of the American government.”
SALT was a welcome departure from the divisiveness I encounter daily and it made me remember that while Donald Trump may be president, highly capable people from the public and private sectors can still positively influence and impact the direction of our country. Ben Bernanke summed this up during an interview when he said, “The president is only one part of the American government.”
Ben Bernanke
While many pundits are taking an extremist position about the state of our country, panelists that included Jerry Jones, Valerie Jarrett, Karl Rove, Donna Brazile, Joe Biden and Jeb Bush never pushed the panic button.
Jeb Bush and Valerie Jarrett (interviewed together by Robert Wolf) both offered some advice for the president. Bush asked Trump to “stop tweeting” and suggested he “bring some structure to the White House.”
“Tone starts at the top,” added Jarrett. “Wake up every morning and be clear about your true north.”
“There’s not another country that’s even a patch on our jeans.”
As for Washington in general, Joe Biden said: “We no longer argue issues, we just question motives. We used to have lunch together in the Senate. That room is gone now.” Biden also made it clear that he thinks America is already great: “There’s not another country that’s even a patch on our jeans.”
What I found refreshing about SALT was that pragmatism always took precedent over ideology. Sam Zell, who knows a thing or two about construction, offered the following advice about infrastructure: “Make things simpler, more straightforward and economically viable.” Rather than merely offer these broad strokes, Zell and Mark Mobius discussed the economics in detail and delved into topics that should be – but never are – covered by politicians. For both Mobius and Zell, government interference as an impediment to building was a recurring theme. While not specifically addressing this issue, Valarie Jarrett’s general comment on politicians should be heeded here: “All too often people put their short term political interests ahead of what’s good for the country.
After listening to Zell, Mobius and Jerry Jones, I believe more than ever that we need more people (other than Trump) with business experience in government. I asked Mobius why he and his peers never considered running for office and he cited the complications a political office can have on one’s personal life. There are many ways to serve and help and I think it’s incumbent upon business leaders to make more of an effort to lend our country their help and expertise.
Although SALT featured captains of industry and world famous market experts, the most insightful observation was made by comedian Dana Carvey when he explained the difference between socialism and capitalism. Carvey likened socialism to visiting the Department of Motor Vehicles and capitalism to the treatment one experiences at an Apple Store.
If I can have only one takeaway from SALT, Carvey’s comment wins by a landslide.