Gambling and other Myths

Many people ridicule casino gambling by saying, "I've got better things to do with my money".  Ironically, some of those will lose their assets through risky, and questionable venture capital schemes. Another cites the stock market as a glorified ponzi scheme, yet it has rebounded nicely since 2008 thanks to aggressive Federal Reserve policies. At one time owning a house was nearly a sure bet investment, but we all know what happened in the 2008 financial crisis, and the ensuing melt down in housing prices. All sorts of investment vehicles have been promoted over the years with varying degrees of success. 

It seems that markets reel from one bubble to the next, with each bubble usually exacerbated by leverage and debt. The famous economist John Galbraith in his book "A brief history of financial euphoria" readily describes the common features and circumstances that have given rise to some famous financial bubbles including the Tulip Mania of Holland back in the 17th Century. History it seems, has a bad habit of repeating itself. 

What then is the answer to creating and preserving wealth? It still comes down to a vocation that pays, common sense, diversification, and a bit of luck or good fortune in life. You also have to avoid the scammers and get rich quick schemes along the way. Greed and ignorance will generally get you in trouble, although there are many "legitimate" ways to lose money too, as already mentioned.

Don't fool yourself, investing is still gambling, although some bets are better and more informed than others. Sometimes a casino bet has much better odds than more "traditional" investments.  At least in a casino you can generally calculate the odds against you. There are more than a few companies that have had their stock prices drop to zero - a few of them have been Dow Index companies. Thus investing, speculating and gambling are all part of the same spectrum. Perhaps a successful professional poker player isn't really a gambler, but a seasoned investor. Things are not always what they appear to be based upon their labels. 

Good Luck and Good Investing.

What if Canada became the Fifty First State?

• They could add a star sized maple leaf to Old Glory to create the new flag.
  
• Canadian funny colored money would then have Monopoly status only.
  
• The Prime minister could become Assistant Vice President (ceremonial status).
  
• Americans could finally enjoy the "real" Niagara falls without crossing the border.
  
• Benedict Arnold could finally be exonerated.
  
• Canadians would have to stop bragging about the War of 1812.
  
• Canadians saying "Eh" at the end of every sentence would slowly disappear?
  
• Americans would learn how to win at hockey.
  
• Canadians would have a real Military for once.
  
• No more painful border crossings either way.
  
• Everyone likes the sound of AmeriCanadians!
  
• The Sasquatch could no longer escape across the border, and would soon be caught.
  
• Alaskans would finally be connected to their fellow compatriots.
  
• No more Queen of Canada (she's a nice lady, but there's been too many Royal shenanigans).
  
• Americans would learn how to pronounce Saskatchewan.
  
• Americans would have easy access to real beer like Moosehead! 
• Canadians could lose their reputation for being polite.



Feel free to add your own outcome to the list :-).