As noted last week, now it’ s New York glomming on Las Vegas’s business with talk of a casino-convention complex near JFK Airport. Once lotteries were a ready gambit employed by states to raise revenues—all those dollar entries for Powerball can add up. But now more places go all in, defaulting to unadulterated gambling as a way to generate some jobs-any jobs and create tax base—any tax base.

I have nothing against gambling, but it’s the ultimate consumption based industry at a time when we need to be creating more, consuming less and saving. The casino business does none of the above. You can call it entertainment and a tourist magnet, but it feeds off many people who cannot afford the tab, and now it’s becoming commoditized and headed for a glut.

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