Online gambling will be a beneficiary, says prescient prophet

The UK publication TimesOnline published a long but fascinating look at the tough times ahead at http://women.timesonline.co.uk/tol/life_and_style/women/the_way_we_live/article5439507.ece this weekend.

Author Bryan Appleyard interviewed business gurus and prescient prophets like Nassim Nicholas Taleb to predict what the future may hold....and online gambling is likely to be one of the sectors that does well.

"The recession will mean relatively more affordable goods for the middle and upper-middle classes," says Taleb, author of The Black Swan, the book that forecast the Wall Street initiated global crunch and anatomised the idiocies of the banks "...before they became apparent to the rest of us."

He explains to Appleyard that fat-cat demand pushed up the cost of "good wine, restaurants, business-class tickets, hotels in Venice, ski vacations, honeymoons" far above the normal rate of inflation. But they'll all become cheaper now.

Taleb also looks forward to "...less confident businessmen on cellphones in trains, airplane lounges and restaurants, less arrogant bankers and economists needing to prove they are not parasites by paying attention to the material world".

And he expects an increase in "yoga and/or church attendance, poetry, teleconferencing and online gambling".

It's a long read but an interesting one.

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