INDEBTEDNESS GROWS, TOO
Let us not forget that indebtedness grows with casinos, too.
Nichols, Stitt and Giacopassi (1999) have shown in their report, "Casino Gambling and Bankruptcies in new United States Gambling Jurisdictions" that bankruptcies certainly increased in 7 out of 8 counties studied, i .e. in counties where gambling had been recently introduced.
Let me guess, there is also likely negative backwash on the housing market and banking industry when bankruptcies are seen to increase in any region. Right?
I'll bet on it!
ONE MORE THOUGHT
LET'S PUT OUR HEADS TOGETHER and THINK OF WAYS TO MAKE positive CHANGES away from the current saddening trends in our regional, state and county economic planning and practices, OK?
I will also bet that most of us would like to have and build a better economy than legislators and politicians have left us with as of August 2008.
LET'S CONSIDER TAKING RESPONSIBILITY AND CLEARING the senates and houses across America of bad candidates by the end of this fiscal year. (Look for candidates that don't depend on prisons, gambling, or raising children to be gamblers and potential criminals or bankrupted Americans.)
Check out just a few of the articles on this topic of the relationship of bankruptcies to the housing and banking sector.
http://129.3.20.41/eps/mac/papers/0209/0209010.pdf
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=510602
Christiansen, Eugene Martin, Gambling and the American Economy Annals of the American Academy of Political and Social Science, Vol. 556, Gambling: Socioeconomic Impacts and Public Policy (Mar., 1998), pp. 36-52 Marks, Alexandria, "Youth Gambling on the Rise"-, http://www.ocregister.com/ocr/sections/health_family/family/article_479947.php Kearny, Melissa, "Economic Winners and Losers of Legalized Gambling"-, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=693095
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