[total_genius]

First was the real estate crash, then the drought and water shortages, then the strict enforcement of immigration laws scaring Hispanics from Nevada, then the huge cutbacks in air service to Las Vegas, then the banks cutting off credit to many of the casino hotels in the process of being constructed. Now the amount of tourists coming to Las Vegas is dropping rapidly with gasoline at $4.40 cents a gallon.

I suspect that the economy of Las Vegas will look like Detroit. Your thoughts?

[5kingsinvegas]

Originally Posted by total_genius

First was the real estate crash, then the drought and water shortages, then the strict enforcement of immigration laws scaring Hispanics from Nevada, then the huge cutbacks in air service to Las Vegas, then the banks cutting off credit to many of the casino hotels in the process of being constructed. Now the amount of tourists coming to Las Vegas is dropping rapidly with gasoline at $4.40 cents a gallon.

I suspect that the economy of Las Vegas will look like Detroit. Your thoughts?

What are your sources? $4.40 a gal??? Don't think so. This is nothing but a bunch of inflammatory statements. The real estate crash is nation wide, there is not a water shortage, immigration laws are not any more of an issue here than they are anywhere else in the USA, airlines are cutting back EVERYWHERE. Climb back under your rock.

[kwm03160]

Originally Posted by total_genius

First was the real estate crash, then the drought and water shortages, then the strict enforcement of immigration laws scaring Hispanics from Nevada, then the huge cutbacks in air service to Las Vegas, then the banks cutting off credit to many of the casino hotels in the process of being constructed. Now the amount of tourists coming to Las Vegas is dropping rapidly with gasoline at $4.40 cents a gallon.

I suspect that the economy of Las Vegas will look like Detroit. Your thoughts?

Please cite these "experts." I think Vegas' economy will be OK with all of the foreign tourists. Remember, with a weak dollar, it is cheaper for them to come over here.

[desertsun41]

Gas is not $4.40. Not untill next week. Yes there is a severe water shortage. Very severe. Rely on foreign tourist to bring us out of this depression? How can a local economy turn around by depending on foreigners?

The whole country is in a recession. Worse then any we have ever seen in 80 years. We here just happen to be in one of the 5 hardest hit. While many states argue if they are in a recession, Las Vegas, Phoenix, Miami and San Diego argue if they are in a depression.

Anyone tells you things are going to change anytime soon are dreaming. The signs are all there for a total economic colapse. Mark my words. What is in store for us is going to make the Great Depression of 1929 look like just a blip on the map.

[lvkewlkid]

some parts of the city ARE 4.40, check vegasgasprices.com

but why go to those stations when the one across the street is 4.25?

[WANative]

I think the next 6-9 months are going to be tough but once we get through the election AND alot of these new casino's start to open you will Las Vegas flourish like it has in the past.
I most likely will be moving to LA soon but promise to come back and visit frequently!!

[jpk]

Gas was $4.26 at Rebel and $4.36 at a Chevron across the street two weeks ago when I filled up in Henderson. Probably $4.40 now. It's pushing close to $5 back here in Seattle. People are starting to abandon their cars up here and cars are showing up at auction and you can't give them away.

That said, Vegas will not be Detroit. Heck, Detroit is deteriorating at such a rate that it's making what you probably think Detroit is look good. GM and Ford stocks are at all time lows. Adjusting the auto stocks for inflation makes it even worse than it sounds.

[SHEPNYC]

MGM Mirage's stock hit a 3 year low today, from $100 a share last October to $34 a share today. What else do you need to know about the Las Vegas economy.

MGM Mirage hits 3-year low on analyst downgrade - Forbes.com (broken link)

[airics]

take a look ANYWHERE else... problems everywhere

[kimba01]

Originally Posted by jpk

Gas was $4.26 at Rebel and $4.36 at a Chevron across the street two weeks ago when I filled up in Henderson. Probably $4.40 now. It's pushing close to $5 back here in Seattle. People are starting to abandon their cars up here and cars are showing up at auction and you can't give them away.

That said, Vegas will not be Detroit. Heck, Detroit is deteriorating at such a rate that it's making what you probably think Detroit is look good. GM and Ford stocks are at all time lows. Adjusting the auto stocks for inflation makes it even worse than it sounds.

True about Detroit, but gas is only $3.99 a gallon here, some places less. A few in the more affluent areas are more.