ONLINE GAMBLING GROWING

Chimera Technology Gains Access to Chinese Gaming Market

The US Justice Department has prevailed in discouraging the use of credit cards and advertisements for online money games. These restrictions are having little effect. The business is experiencing dramatic world wide growth and Americans have joined in droves. Americans do not break the law when they participate. (Sports betting online may get you in hot water but this business is also growing.)

The World Trade Commission has ruled that American sanctions are illegal. The ruling is being appealed. The situation is similar to North Carolina not having a lottery when all the surrounding states do. North Carolina citizens who wish to play the lottery are donating millions of dollars to Virginia, South Carolina and many other states. Sooner or later politicians will determine that the US is losing billions of tax dollars to other countries by not allowing online "money" games to be headquartered here.

I am a firm believer that the auto is a benefit to our society even though tens of thousands of drivers, passengers and pedestrians die each year. I am for allowing insurance companies to offer substantial discounts to those who allow GPS tracking of their driving habits. If the GPS is programmed to warn the driver that he is over the middle line or is approaching a stop light too fast, that would be great. In other words, as a country we have an obligation to design our systems to help one another and to give one another incentives to help each other. In most cases, Americans must be left with the freedom to live as they wish. In situations where they might harm another, such as when they drive a car too fast, we need to make all reasonable efforts to prohibit or discourage the activity.

Playing games online will grow quickly for many years. It is a losing argument to say that a adult should not be allowed to spend his own money on such an activity. Prohibition of alcohol did not work and money games are available in every state of the union. Games online is another area where the internet will grow because it is the most efficient way to perform the "task" at hand.

It is hard for any sensible investor to pay-up to own shares in high priced stocks such as YHOO, EBAY and GOOG. These firms have to grow at a good clip for many years to justify their current price. This is the history of the stock market.

Those who bought any of the "big names" Xerox, IBM, Ford, GM, Home Depot and thousands of others early in the life of the products made fantastic total returns. After the growth peaked, the returns have been mediocre at best. The GM buyer 34 years ago has a capital loss to realize if he sells the stock.

Purchases of high priced online stocks such as YHOO and GOOG need to be balanced with "value" stocks. Should you need assistance in constructing a portfolio, I would be happy to volunteer.