Horse racing is broken...just like our economy...probably have the same type of people making policy for the masses. And I don't see either recovering anytime soon.
So with a crappy economy, and with oil prices still surging, housing in the tank for at least the next few years, we're staring at a long BEAR market for stocks and mutual funds, WHO would want to INVEST in a business with a 95% loss history for owners?
IMO, ANY disposable income better be salted away for the rough times ahead.