Why Are Casinos Always the Bad Guy Even When It Comes to Trump’s Tariffs

_{President Donald Trump's tariffs stir uncertainty across global markets, but are they a form of gambling? (Image: Associated Press / Alamy)}

History is littered with bad guys. From dictators to Bond villains, we have been given a detailed template to recognise when something or someone isn’t quite right. 

The media has portrayed the serving president of the United States, Donald Trump, as the epitome of a ‘bad guy’. One cannot switch on a news channel, a chat show, or open a newspaper without the blonde, tanned and suited Trump looking back at you or speaking in that familiar and much parodied voice, shooting from the hip without filters.

Irish Times Compares Tariffs to Casino 

An article in the Irish Times has drawn a parallel between stock markets and casinos. The headline reads, ‘Stock markets are like casinos. Don’t rely on them as a bellwether of tariff impacts.’ 

The author argues that both Trump and casinos operate under uncertainty and often reflect irrational responses rather than solid economic fundamentals. Since the recent imposition of tariffs by President Trump on US imports, global stock markets have plummeted, the article argues, akin to a sudden downturn in a casino's fortune.  

The volatility in stock prices can be likened to the unpredictable nature of gambling, but one has a choice whether to take a small risk or any risk at all, and the wins can be large but so can losses. The Irish Times article also points out that national stock markets no longer serve as reliable indicators of economic health.

This scenario is exemplified in Ireland's context, where a few companies dominate the market, and major global players like Flutter are listed elsewhere, making local market movements less meaningful. Numerous parallels can be drawn when comparing the impact of Trump’s tariffs to a casino, leaving investors anxious and lost. However, there is more to the story if one cares to look at the bigger picture. 

Journalists Need to Look at Multiple Perspectives 

What the article leaves out or has no interest in providing the reader is the intricate details of how a casino facility impacts the economy. No mention of the successes of casino destinations and their rebirth after the COVID-19 pandemic. Yes, bad guys can be rehabilitated, but does anyone actually believe that? 

Casinos are now among the most highly regulated businesses in the world and like any business, they have to make money to survive. Are we going to demonise all money-making businesses in this way?

The value of a casino to the economy can be assessed from multiple perspectives, including direct financial contributions, employment opportunities, tourism, infrastructure development, and social impacts. Casinos generate a significant number of jobs and employ individuals in various roles, from gaming staff to hospitality positions, and create ancillary jobs in sectors like entertainment, security, and maintenance.  

Casinos can be tourist attractions that boost local businesses, including hotels, leisure providers, and retail suppliers. Small businesses can grow as a result of the presence of a casino, which can increase footfall and create demand for services. The cash spent at a casino can have a multiplier effect as it circulates through the local economy.  

The World Will Still Turn Despite Tariffs  

Despite the negativity surrounding Trump’s incredible raft of changes and the doom and gloom predictions we’ve seen, democracy has determined that Donald Trump became the 47^th President of the United States of America. 

The world still turns and there will still be casinos contributing significantly to the economy through various channels.

We will leave the last words to DT. Speaking recently, the US President said, “I think we are really helped a lot by the tariff situation, which is a good situation, not bad – it's great. It's going to be legendary. You watch, legendary in a positive way, I have to say. It's going to be legendary, but I really think it actually puts pressure on those few Republicans that just can't get there.  

“It's very simple. We're making deals and people are paying tariffs. Countries are paying tariffs. Right now, China is paying a 104% tariff. Think of it 104%. Now, it sounds ridiculous, but they charged us for many items, 100%, even 125%. Many countries have.

They've ripped us off left and right, but now it's our turn to do the ripping. That's OK; we're going to make our country even stronger.”