Sunday, 2 October 2011

Risky strategies

Part of the economic growth strategy mooted for Jersey, which is designed to save our sorry skins – finance down 12%!!! – involves e-gaming i.e. gambling for money online. It has been regretted by some that places like Alderney have stolen a lead over us. Not reported very well at all by the mainstream media locally (how do those so called journalists look at themselves in the mirror?) was the following which was from  the New York Times (click for original article).

“LAS VEGAS (AP) — Gambling regulators on Thursday revoked the license of Full Tilt Poker, a popular Web site that once offered gambling to thousands of players around the world, saying the site had misled officials about its financial operations.

The revocation was made by the Alderney Gambling Control Commission on the British Channel Islands. The move, according to Full Tilt, put in jeopardy a plan outlined by a lawyer for Full Tilt to repay millions of dollars in player funds that had been in limbo since the site was first shut down to Americans in April, when its executives were indicted in the United States

While our local politicians still cling to highly dubiously ethical get rich quick fantasies like this without regard to their “firework” nature, we are doomed. Politicians need to wake up to the unsustainable nature of their current policies and the even worse solutions put forward by their flat earth economist advisers.



Mark Forskitt said...

Get rich quick schemes are just so much easier to sell than get sustainable slow policies. Does snake oil work?

Nick Palmer said...

It seems to have some temporary effects if people believe in it. Of course, the chickens eventually come home to roost and disappoint those strange people who are sure that if they believe their glass is always half full that, somehow, things will magically work out better for them.