Here's How Bad Vegas Is - Don't Let the 'Green Shoot' Crowd Bullshit You

[Covertibility]

Glancing at hotels.com real fast, it appears that rooms are cheaper now than they were a month ago. I recall seeing Cesars 350/night last month vs 241/night for next weekend leaving monday. Same goes for Paris and The Venetian, pricedropwise. Does Mandalay Bay still have the topless area and how are the strippers doing these days?


Better idea of savings rate:

<IMG SRC=http://research.stlouisfed.org/fred2/data/PSAVERT_Max_630_378.png>

Robert Reich is pretty much talking the same game as PIMCO, it's the new normal. The economy, or the current train, is on a new track.

 

[Landis82]

Quote from ByLoSellHi:

To everyone claiming this is a garden variety recession, cyclical in nature, and a return to pre-2005 levels is around the corner, you could not be more wrong.

The U.S. has changed in the most fundamental way since the 40's, and unlike then, it's for the far worse. Nearly every data point is trending the wrong way, pointing towards a shrinking, rather than rising, quality of life.

Please post a screen-shot of your short sale positions that would take advantage of your above claim.

Thank you.

 

[ByLoSellHi]

Quote from Landis82:

Please post a screen-shot of your short sale positions that would take advantage of your above claim.

Thank you.

Quit stalking me, you Baron-paid troll.

The ignore list is your friend, Landis, you piker.

 

[ByLoSellHi]

Quote from makloda:

I can't speak for BuyLo but I suggest the following for starters

New pet:

Fence upgrade:

Couple of these puppies

In areas of New Mexico and Arizona (as well as Nevada), that's almost a necessity as a home defense setup, as home invasions and even kidnappings have skyrocketed.

For those responding to the article, and not trolling like some people (Landis), the article states 5,000 waiters and waitresses alone, basically 99% on the strip, have lost their jobs.

I don't know how many waiters/waitresses the average or median sized restaurant has, but that's an incredible figure, at least to me.

What I find equally impressive, is the multi-billion dollar eyesores, that they've either quit building, at some point in the process, or that are being built out piecemeal, as funding is scraped for.

 

[Kassz007]

Green shoots was so last quarter. Red shoots occur just as frequently as green shoots nowadays. Let's put that term to bed once and for all.

 

[asiaprop]

no he does not, thats the whole problem. He pasted some anecdotes in a China thread earlier and he now does it here again. No substance, no real arguments why the future correlates with what happened in the past 1-2 years. Again, this is not about his point, anyone can have his/her own point. But if you dont want to look extremely stupid and naive then you better argue your point, especially when posting on such forum.

Quote from Carbonator:

Why so? I'm sure you have well-documented reasons why.

 

[Topsurfi]

Quote from ByLoSellHi:

IN the late, lamented boom, waiters at luxury restaurants here could make $150,000 a year and more thanks to the electrifying arrival of high rollers renowned as “the whales.”
-CONTINUED BELOW- [/B]

I was in Vegas 2008 with my wife and kids.
I was really pissed by the prices and the mediocre quality of the restaurants there combined with really high prices.
Why on earth should a person that only serves FOOD deserve a 30Dollar tip just for bringing some plates and giving me a false smile and a little conversation ?
I am from Germany and I still can't get used to paying waiters sums like that just for moving some plates around, sorry.
So if they now earn less than 150k for me thats just a return to normality, nothing more.
Las Vegas was the mother of all bubbles so let it burst, just normal.

 

[ByLoSellHi]

Quote from asiaprop:

no he does not, thats the whole problem. He pasted some anecdotes in a China thread earlier and he now does it here again. No substance, no real arguments why the future correlates with what happened in the past 1-2 years. Again, this is not about his point, anyone can have his/her own point. But if you dont want to look extremely stupid and naive then you better argue your point, especially when posting on such forum.

Hey, imbecile, you never responded to my last point in your beloved China thread, wherein I pointed out that it took China 600 billion in stimulus to float an officially reported 7.9% GDP quarterly growth rate (a 1.8% bump from the prior quarter), and if exports don't pick up, how much of their 2 trillion in reserves they'll have to burn to keep propping up domestic consumption to compensate for tanking exports.

You China boot-licker.

 

[Landis82]

Quote from ByLoSellHi:

Quit stalking me, you Baron-paid troll.

The ignore list is your friend, Landis, you piker.

Ahhh, looks like I struck a "nerve", eh?

Another poser on ET who doesn't trade.
Shocker.

You are one of the reasons why this website has gone totally down the tubes over the last year or two . . . cut and paste, cut and paste, cut and paste.

Feel free to admit that you get paid to post on ET in order to keep web "activity" up.

I dare ya.

 

[Clubber Lang]

Atlantic City NJ is packed. Went there 6 weeks ago and had to wait 40 minutes to get on a craps table.

Going again this weekend with friends. We booked a room 3 weeks ago, another guy tried to book this past week and they were sold out of rooms.

The "worst recession in 70 years" just isn't panning out in certain parts of the country. New York and New Jersey had a few slow months (September- March), but since then people are back spending money (not quite at pre-bust levels, but still pretty robust).

California, Nevada, Michigan, and some other rust belt states are hurting, but other areas are doing fine.