This little bit of subprime fallout news last nite in Europe chilled the gap up opening that was setup...
Profits Fall at German Bank IKB
its amazing because the capital investment taking place on the strip is absolutely mind boggling right now!
Hgx is going to crumble next week
I was surprised to learn that Nevada is #1 in mortgage defaults ahead of CA, that market must be decimated...
there was just way too much speculation and anticipation from those building houses a head of these major projects...
Heck I remember the 70s in that town, it was dead. They used to go to the bars in SF and offer free chartered flights with free booze, $25 in free play just to get you into their casinos...
They haven't seen a recession like that one since. Could it happen again? I see a lotta parallels, not least of which is price of oil...
We are a one horse town that being gaming!!! we arent cheap either...After a few drinks and some strippers I easily drop 1k a night!!
I am a novice at all this stuff. But here is my observation on Vegas. I have only visited twice. The last time was a few months ago and the difference I noticed is that the place was overrun with Foreign tourist with handfuls of dollars. Eating at buffets which in my perspective weren't cheap but to them must have been a bargain.
very astute observation!!!
