Sunday, April 14, 2013

Casino Spending Is Crashing

There's an interesting post on The Economic Collapse Blog about "11 Economic Crashes That Are Happening Right Now".

Some of them are standard things you'd read about. It mentions the Bitcoin and gold crashes (not sure if those are really crashes or just the effects of over-eager cargo cult investors, or deliberate market manipulation). It mentions oil being down. One thing I thought was interesting is Casino Spending:

#7 Casino Spending

Casino spending is declining again. Many people (including myself) would consider this to be a good thing, but casino spending is also one of the most reliable indicators about the overall health of the economy. Remember, casino spending crashed during the last financial crisis as well. That is why it is so alarming that casino spending is now back to levels that we have not seen since the last recession.

 

That's interesting. Considering that many states live off the proceeds of casinos, I'm sure we'll be hearing about tighter budgets and the need to increase fees and taxes. I heard something Friday that Maryland is going to start taxing landowners for the rain that falls on their property. What other idiotic schemes will governments come up with while avoiding the reality that they are unsustainable?

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