[kimba01]

Originally Posted by las vegas drunk

I just deleted my response to ..... as it would have gotten me banned from City Data for life. I truly HATE his man with a passion so I could not restrain myself. He is now on ignore so I do not have to see his posts anymore. I will leave it at that.

That is the problem with making predictions on a public forum. It's ok, look at all the talking heads that do it, they get slammed all the time and not from just one person!

I try to stay out of political stuff as I am just not educated enough. By choice. I will most likely just go broke and croak. But, if that is going to happen to me, I do not wish to spend my last days fretting about the gloom and doom of the political idiots in this world.

[jfkIII]

Originally Posted by las vegas drunk

JFK is exactly right. We are NOT stagnant. We were supposed to go through a depression back in 2008. Instead the Fed temporarily papered over it but none of the policies that caused it were fixed. Now we are back to square one and the Fed is out of bullets. It's coming so the best thing is to prepare for it.

We're not the only ones thinking this way, LVD...

Given the tumult of the Great Recession, this may be hard to believe. But the economy is much weaker than it was at the outset of the last recession in December 2007, with most major measures of economic health — including jobs, incomes, output and industrial production — worse today than they were back then. And growth has been so weak that almost no ground has been recouped, even though a recovery technically started in June 2009.

“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” said Conrad DeQuadros, senior economist at RDQ Economics.

When the last downturn hit, the credit bubble left Americans with lots of fat to cut, but a new one would force families to cut from the bone. Making things worse, policy makers used most of the economic tools at their disposal to combat the last recession, and have few options available.


Second Recession in U.S. Could Be Worse Than First - Yahoo! Finance (http://finance.yahoo.com/news/Second-Recession-in-US-Could-nytimes-2428475539.html?x=0 - broken link)

[las vegas drunk]

Originally Posted by skisickie

Ouch on the market, Bullys
The Storm is Big

Originally Posted by jfkIII

Spells bad news all around...and especially LV.

Well here you go my friend:

Stock market plummet could impact Las Vegas tourism - www.ktnv.com

[English Dave]

England calling. England calling. Are you receiving me over. Well, you think you've got
problems!! It kicked off fine style last night in old London town. As I mentioned before, we
have over 1 million people under the age of 25 without a job. Well, last night a lot of them
decided they'd like new phones and sneakers for free. Luckily, our glorious leader has at last
returned from his holiday villa to lead his people. Tonight will decide who is running this
country, thieving thugs or the law. Hopefully, our police will be allowed to take off the kid
gloves and sort them out. We shall see. Only 10 weeks to Las Vegas!!

[las vegas drunk]

English Dave: I have been following those riots too. They look very similar to the Rodney King riots we had in Los Angeles back in 1992.


Kimba01: Trust me, I too hope to God I am wrong. I certainly do not want any of the stuff I talk about to actually happen. Maybe I really am a crazy kook who is FOS. Time will tell....

[dynimagelv]

Originally Posted by English Dave

England calling. England calling. Are you receiving me over. Well, you think you've got
problems!! It kicked off fine style last night in old London town. As I mentioned before, we
have over 1 million people under the age of 25 without a job. Well, last night a lot of them
decided they'd like new phones and sneakers for free. Luckily, our glorious leader has at last
returned from his holiday villa to lead his people. Tonight will decide who is running this
country, thieving thugs or the law. Hopefully, our police will be allowed to take off the kid
gloves and sort them out. We shall see. Only 10 weeks to Las Vegas!!

I'll trade ya world leaders and spot ya ten pounds

[mojavedxer]

Originally Posted by las vegas drunk

JFK is exactly right. We are NOT stagnant. We were supposed to go through a depression back in 2008. Instead the Fed temporarily papered over it but none of the policies that caused it were fixed. Now we are back to square one and the Fed is out of bullets. It's coming so the best thing is to prepare for it. As far as your job, you might be ok because the Cosmopolitan caters to the rich. It is the local (station, coast) and lower end strip or downtown casinos that cater to the poor and middle class that are going to have the most problems.

Interesting since the only two casinos in town currently operating at a profit caters to the local market.

[jfkIII]

Originally Posted by las vegas drunk

Kimba01: Trust me, I too hope to God I am wrong. I certainly do not want any of the stuff I talk about to actually happen. Maybe I really am a crazy kook who is FOS. Time will tell....

LVD...like I try to teach my kids...better to be prepared for it and it doesn't happen...than to be unprepared for it and it does.

It's like taking the umbrella when it looks like rain. Better to have the umbrella and no rain...than to have no umbrella and rain.

[MediocreButArrogant]

Originally Posted by mojavedxer

Interesting since the only two casinos in town currently operating at a profit caters to the local market.

I would think the locals casinos that target the value oriented customers would weather an economic downturn better than the higher-end properties.

Most of their gaming customers seem to be retirees, whose incomes are mostly fixed (SS, pension benefits, fixed annuities) or have their assets in low-risk, lower return investments (that's what you do when you're old and can't afford to have your nest egg wiped out). So I'd think their spending is far less affected by swings in the stock market than someone twenty to forty years younger. The younger, more affluent crowd LVD mentions is affected by job security, wealth (or poverty) effect from investment portfolio, etc, so I'd expect their discretionary spending to be far more affected than that of a retiree.

Plus, the locals casinos have many inexpensive dining and entertainment options available, that should be less affected by an economic downturn. If I'm poor, I'm still going to go to the $8 matinee at the Suncoast. I'm probably not going to out for that $500 dinner at Joel Robuchon.

[las vegas drunk]

Originally Posted by mojavedxer

Interesting since the only two casinos in town currently operating at a profit caters to the local market.

As the economy gets worse, the rich get richer and the middle class and poor get poorer. I would think the casinos that rely on the lower end of the spectrum would get hurt the most. I am curious though, what two casinos are making a profit? If only two are making a profit, how are all the other 60 odd casinos keeping their doors open? It does not make sense to me. I am in no way saying you are wrong as I am only curious.