Two New eBooks at Amazon Kindle!

FacebookMySpaceTwitterDiggDeliciousStumbleuponRSS Feed

Americans still think they can get away with it. They still think they, unlike all civilizations that have gone before, can somehow take gambling into their bosom and not get burned. Not going to happen.

Since 1988 with the enactment of the Federal Indian Gaming Regulatory Act, Americans have chased bad bets like the most obsessive of problem gamblers. We can’t get enough of it even though it drains local economies, sends families into bankruptcy, feeds graft, greed, and corruption, and results in higher costs for local governments responding to the social pathologies gambling encourages.

Gambling is as bad a bet as it’s ever been. No one ultimately wins in a casino except the House, the owners. And now the owners are in trouble.

A number of casino companies are wrestling with debt like so many cities and states, not to mention the Federal government. Bad times have combined with bad investments (bad bets?) to produce bad debt for casino owners. The casinos expanded when they should have contracted. They “let it ride” when they should have pulled in their money and gone home.

Let’s hope more than a few of these centers of debt-production go under from a taste of their own medicine.


© Rex M. Rogers – All Rights Reserved, 2012

*This blog may be reproduced in whole or in part with a full attribution statement. Contact Rex or read more commentary on current issues and events at or follow him at