Yesterday Hillary asked “How can you go bankrupt running a casino?” in reference to Trump’s troubles owning casinos in Atlantic City. Apparently people laughed and dummies posted it on facebook and isn’t that great? The only problem, IMO is that its a really dumb question. Tons of casinos have gone bankrupt! Even native american casinos. I guess now Hillary shouldn’t be counting on Elizabeth Warren’s vote. Casinos are basically big rooms full of slot machines that suck money out of sad addicts. The table games and entertainment and everything else are just a sideshow. But the slots are a commodity and the sideshow is really expensive. Just because the core activity of sucking nickels out of gambling addicts is profitable doesn’t mean that the whole billion dollar resort complex built around it will be.
Has Hillary Clinton ever built a successful casino business in AC? Nope! She’s never tried. That’s probably a wise decision since the Clintons have managed to get fantastically wealthy just by writing bad books and giving boring speeches. That’s certainly a much easier/less risky way to make money if you can do it! But since she’s never tried running a casino, shouldn’t she maybe refrain from mocking someone who had the guts to try?
One of the most fundamental and poorly understood facts about the capitalist system is that nobody knows how to be successful. If there is a well established way to make money, a bunch of people will do it and compete all the profit out of it. All anyone can do is try their best and hope that it is good enough to make some money for now. Occasionally someone stumbles on a formula that works amazingly well, but the stumbling part is key. They can’t know ahead of time that their formula will work or else it already would be working for someone else. Our economy advances through this process of people trying, taking risks, often failing and occasionally succeeding. Most people don’t really have the stomach for that kind of risk-taking, so they work at jobs where someone else takes the risk and tells them what to do. But we all benefit from the important work that the risk takers do. People who take risks and fail (including The Donald) deserve respect and praise for their efforts, not mockery.