Tag: Mises

Bet the Debt is the latest casino game

According to a recent poll, plenty of folks would be willing to go double-or-nothing on their personal debt at an online casino.

This all comes despite the poor odds, none to surprising as most people don’t calculate risk when they sign the aggregious contract on that new European car (their thought at the time is they will just draw down the home equity line to pay it off).

Little do they know, while they are sitting around with their thumbs up their butts hoping for a miracle of chance, the farm has already been bet for them.

They’d be well served to read this instead.