This article is talking about how corporate executives and other big shots are betting quite a bit at the Kentucky Derby. It then goes on to say that this means our economy is good.
This graph shows how thoroughbred horse sales and business investment are on the rise in the past few years since the Financial Crisis
I think it's good that the rich are finding things that they can blow their money on. In an economy, one person's spending is another person's income, so overall if we have more spending, that increases aggregate demand, and we'll have higher incomes. Unfortunately, the rich have a lower marginal propensities to consume because they tend to hoard their money. That's why we need to find ways to get more money in the hands of the middle class and the poor, but that's another issue.
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