Comments by "Patrick T" (@patrickt49) on "Gambling Grows in China! With a Poor Economy, It Turns Into a Wealth Dream, Leaving Families in Debt" video.

"They are famed for their prudence in money matters, yet their love of gambling amounts to such an insane passion that every year millions are ruined to become beggars or suicides." "Ways that are dark: The Truth About China" by Ralph Townsend (Former US Consul who lived in 1930s China) "The character of the people has been traditionally such that to thrust money into anybody's hands as an investment was always a gamble. Hence a Chinese with money might as well gamble it over the gaming table as any other way, and have at least the thrill of exciting play instead of the long gnawing anxiety following the equal, if not greater, risk of investing it." "Ways that are dark:The Truth About China" by Ralph Townsend (Former US Consul who lived in 1930s China)
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Gambling is incredibly crazy in China though. You're talking about a people who don't even acknowledge the existence of gambling addictions, which makes it all the more serious.
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And yet more often than not, it's not uncommon to see Chinese in the special back rooms where you know they are gambling their house(s) away.
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@silversurfer3202 Day traders, yes. Long term investors who spoke to a licensed financial advisor, doesn't apply to them.
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You need to check out "Ways that are dark: The Truth About China" by Ralph Townsend. After reading the book, you will realize that the way they act will not be surprising albeit will be expected. From politics, to the way they do business, to gambling, it's no longer surprising.
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Yup. They love gambling and all sorts of racketeering. It's part of their culture. Not all of their behaviors have to do with the CCP. At some point everyone just has to acknowledge that certain behaviors have to be attributed to the Chinese and their culture.
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@WTM00 how do you know? Also, we're talking about China here.
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