Does The Great Depression Have Anything To Teach Us?

1930s_IndustryIn the United States, one of the most memorable historical elements of the great depression of the 1930s was the prohibition of alcohol.

To say the least the government was keen on making it work but instead eventually had to repeal the ban an admit that it was never going to work. This of course was only after prohibition had created an organized crime problem that the country is still dealing with today.

We are currently in the midst of the greatest economic downturn since the great depression and also slap bang in the middle of prohibition of a different kind. There are as many differences as there are similarities so there is no real point in trying to make lists but one fact remains.

Prohibition has never worked in the face of something that people really want to engage with so there is absolutely no reason to suggest that it is going to work this time.

The regulation and taxation of online gambling offers massive potential in terms of revenue for the government and would remove all the difficulties attached to enforcing the current legislation.

It would seem that the current economic situation has brought quite a few high profile politicians around to this way of thinking and momentum does seem to be growing in terms of the possibility of repealing the ban.

Not A Rollercoaster But Up And Down For Partygaming

World_MarketsPartygaming shares went up on Wednesday September 2nd 2009. The company has had a bit of a bumpy ride in recent times and today saw the shares make some significant gains again.

The real volume of trades at day’s end came in at 331,950 which is within what would be considered to be a normal operating range for the company.

At the opening of business the share price of the company was 245.30 and the share valuation stood at 250.00 at the close of business.

This leaves the price 2.1% higher than the 244.60 on Tuesday September 1st and is 2.52% down on the Friday August 28th price of 256.30

During the day’s trading the highest price for the shares was 251.10 while during another period 234.7669 was the weakest price for shares thus giving during the day’s trading, between high and low a total of 1.91% variance . Also, it is worthy of mention that the real world volume at day’s end on Tuesday finished at 563,648 and on Friday it finished at 352,735

Investors in the market have had a few mixed feelings about Partygaming recently so we will have to see whether this turns out ot be more of the same or the start of some sustained growth.