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News Link • Economy - Economics USA

The Gulag Casino Model To Envelop Chicago

It has come to this. Three years of budget cuts and fiscal panic have convinced Chicago voters that opening a casino in the middle of a recession is a good idea. 47 percent of voters back a casino and only 41 percent oppose, according to The Tribune. Those numbers were reversed in another poll back in 2003. Here's how Mayor Richard Daley has balanced the budget for the past three years. In 2008 Daley made a few budget cuts and then signed away the local parking system and airport in long-term leases worth billions. In 2009 Daley made a few more cuts and then start spending lease revenue decades ahead of time. In 2009 he made a few more cuts and practically finished off the lease revenue.

1 Comments in Response to

Comment by Ned The Head
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This is a sad comedy. The remaining head of old-school gangland politics suddenly finds--horror of horrors--that the public trough has been emptied. By whom? By Daley and his crony-capitalism. 

So what does a crony capitalist do when he goes into debt with the loan sharks? He takes MORE money from other people, goes FURTHER into debt because don't worry, he can make up the losses by GAMBLING. And don't worry, it has to work because after all, Daley will have all HIS people running it. See don't tell anybody but it's a rigged game.

Now what in Daley's experience would tell him anything but "it's gonna work"? Nobody from his group ever told him he was wrong and they aren't gonna stop now. There's a casino coming after all and they are all lining up at the trough, waiting to be told how they are gonna fleece the suckers yet again.

And it's not a question if the people of Chicago are stupid enough to fall for it again, there's no question at all based on experience. I think half of Chicago and Michigan are still a little more than nostalgic for the good old days er...ahem...prohibition. And that's why all this reluctance. All they are doing is moving gambling up from the back room with the booze. Pretty soon they'll have to let the girls out of their cages and let them start working the floor like everybody else. Their maintenance costs are going way up. Looks pretty risky but what's the alternative?

It's the only game you know. Go ahead. Roll the dice Chicago. Let's see if you get lucky.

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