Men aren't having sex because of sports betting: Meredith Whitney

Apparently sports betting is the reason men aren’t buying homes and having sex.

“I always look at consumer data,” Meredith Whitney — known as “The Oracle of Wall Street” for predicting the Financial Crisis of 2008 — said on CNBC’s “Squawk on the Street.”

“Retail spending has been down all year, restaurant spending, travel, services, leisure… the fastest growing leisure spend is fantasy sports and online sports betting.

“The negative impact is that it’s all young men. I paralleled that with Pew Research that says that 63 percent of young men are single. And that’s the highest it has ever been. And 50 percent of those young men have no interest in dating, not even casually. And 30 percent of young men said they have not had sex in over a year and don’t seem to care.”

The basis of her argument is that young men are getting more pleasure betting on their cell phones hitting a parlay or a prop bet than by going out and meeting a young lady.

“Young men who have grown up with gaming are used to doing everything on their phone and now they can do all sorts of betting on their phone,” Whitney said. “They can do real-time parlays on their phone.”

“You have young men who don’t want to date and young women who are spending their time with Instagram moments at Taylor Swift concerts.”

Whitney also adds that 74 percent of the housing stock is owned by people over 50 and guesses that eventually those homeowners are going to want to sell and that there will be no buyers.

So there you have it, it’s all sports betting’s fault.

Vices such as gambling, alcohol, drug use, etc. have affected and will continue to affect different parts of society.

But sports betting, on the illegal market, was a massive craze since Arnold Rothstein was indicted for fixing the 1919 World Series.

For reference, countries around the world, are experiencing declining birth rates – Kim Jong Un even tearfully begged North Korean women to have more kids because of waning natality.