The economy is about to tank

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bresner	The economy is about to tank		Lead	[-]
Member Posts: 461 04/29/08 04:33	Well readers I'm a bit of an amateur armchair economist and I think we are in for some tough times. I know you think things are tough now but six months down the road may be a lot worse. Our economy is slowing yet we have rising gas prices and food prices....................oh yeah that's cause China and India started eating three squares a day.......it isn't that the dollar has lost value against other currencies...gold...oil...wheat...etc.....................NO!!. Look for gas and foodstuffs to increase (what's a food stuff anyway??) Housing should continue to tank ( with government intervention it could take a while on the downside.............think Japan) Possible collapse in the value of the dollar (hey if it implodes and we have hyperinflation that will help out the many indebted "homeowners", so keep you're fingers crossed.) Hell, people are bitching now and there has not been agreement that we are in recession yet................this is going to be fun.........hold on to your hats.
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Uhavenoaction		#1	[url]	[-]
Member Posts: 277 04/29/08 09:42	This is true, the worst is yet to come. Alot of people think that its bad now, but we are just in the beginning stages of the recession. I work at a locals casino, and I see it taking a toll on these people that come in everyday. They seem to be more stressed and desperate to win. Of course the very well off are still hammering away. Business has slowed, management tells us that less people are coming, but the people that are here are spending more money. Whats is interesting is it used to be that when the economy was bad, "sin stocks" (casinos, cigarettes, booze) would do well, but they are not... Another thing that is interesting is that the toke rate at our casino is at the highest point of the year, even though business has slowed. I think its because less "fleas" are coming to play, therefore less tables are being opened. In turn, dealers are getting less hours, and this also helps the toke rate. So far, its working out...less fleas, less hours, but making about the same money.
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Brazen	Is Stations aware of this???	#2	[url]	[-]
Member Posts: 583 04/29/08 02:20	They don't seem to think there is a problem with the local economy. We have Aliante station opening this year, then we got Durango Station and then we are going to have this Viva monstrosity on Tropicana that is going to have 3 casinos, 10,000 rooms and will be bigger than City Center. WTF???? One other thing, this Viva project is going to basically be right behind City Center as it will be on the Wild West site. Factor in all the other casinos and condos that have been built or are being built or are going to be built. What are we going to do with all this traffic? Seems like we are constructing a little Manhattan with no subway system. Last Edited By: Brazen 04/29/08 02:29. Edited 1 time.
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bresner	you guys rock	#3	[url]	[-]
Member Posts: 461 04/29/08 04:42	Love the responses. Brazen, I think maybe that these projects were planned long ago and had already been put in motion before anybody figured out the economy was going soft. In addition, maybe they thought Vegas will be bulletproof as I've heard before. I've always admired Stations and I love the GVR and the Red Rock. Aside from that I'm thinking they have expanded too aggressively and will pay the price. That goes for Terrible's also. Love the gas stations but they probably paid too much for the Primm properties. I checked out the Fiesta Station when I was in Vegas. It smelled like Tijuana....how authentic. Uhavenoaction, Another great point. If the casino runs a tight ship and lids tables then tokes can increase but some people may have to be let go or hours reduced. Less hours, close to the same money , Hooray!!!....for now at least. Brazen, is it possible that one or a few of these deals go bust or do they all have strong backing????
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kenodave		#4	[url]	[-]
Member Posts: 459 04/29/08 07:23	Brazen, is it possible that one or a few of these deals go bust or do they all have strong backing???? The deals will all go thru at the expense of current and terminated employees. Boyd just announced 1st quarter earnings. They disclosed a loss of over $32 million. Do you think that puts the Echalon on hold? No, it means more pink slips for employees and a hiring freeze which puts more burdon on the remaining employees. Can you read the writing on the wall? No raises this year, cost of living or otherwise, due to the poor economy.
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starbucks		#5	[url]	[-]
Member Posts: 150 04/29/08 08:14	The economy goes down and the economy goes up... the way of the world as I see in life. .... I honestly think it will be fine by March 09... That is my prediction. Hold on to your investments, Las Vegas will prevail and turn back to an economic upswing!
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Brazen	Well....	#6	[url]	[-]
Member Posts: 583 04/29/08 10:29	the last articles I read had the Fertittas bragging that Stations is now private, so they don't have to answer to anybody. So, if Stations was publically traded, I would say no way in hell would they get approval to build another City Center off the strip. So is this thing possible? Perhaps. This thing is probably going to cost about 10 to 12 billion. I was at Sante Fe the other night and the place was dead. But maybe things will change in a few years. Last Edited By: Brazen 04/29/08 10:32. Edited 1 time.
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kenodave		#7	[url]	[-]
Member Posts: 459 04/30/08 12:59	the last articles I read had the Fertittas bragging that Stations is now private, so they don't have to answer to anybody That, in itself, is an interesting observation. If I recall, the reason Stations originally went public was to enable them to acquire financing for expansion. Now they have gone private again because they don't want to answer to anyone. Answer me this Fertitas....how is it that you are now able to acquire financing on such a list of formidible projects, but you couldn't before? Last Edited By: kenodave 04/30/08 12:54. Edited 1 time.
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DSTARCH1	economy	#8	[url]	[-]
Member Posts: 399 04/30/08 02:16	if we people are smart we should try to pay off are bills, credit cards, any bills that you realy dont need , dont go out and buy something expensive that you dont need, like a high def 50 inch tv or a new car, anyways you get my point, we should try to save as much as possible, because the econmy hasnt hit rock bottom yet, but if it dose and we play it smart now, we wont have to worry about crap like our credit cards. car payments etc!!!!!!, we should just deal with what we got now and try to stay ahead of the game
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G money	Things seem to be looking up in the market.	#9	[url]	[-]
Member Posts: 944 05/01/08 01:04	The Dow is up more than 12 percent over the last month and a half. I think we might be over the slump. It was as low as 11,650 in mid March. Now it is over 13,000.
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NoStinkinBadges	Peak Oil	#10	[url]	[-]
Member Posts: 1833 05/01/08 07:52 Dealer/TGS	Now, don't panic, just calmly prepare for the inevitable... Civilization as we know it is coming to an end soon. This is not the wacky proclamation of a doomsday cult, apocalypse bible prophecy sect, or conspiracy theory society. Rather, it is the scientific conclusion of the best paid, most widely-respected geologists, physicists, bankers, and investors in the world. These are rational, professional, conservative individuals who are absolutely terrified by a phenomenon known as global "Peak Oil." Oil will not just "run out" because all oil production follows a bell curve. This is true whether we're talking about an individual field, a country, or on the planet as a whole. Oil is increasingly plentiful on the upslope of the bell curve, increasingly scarce and expensive on the down slope. The peak of the curve coincides with the point at which the endowment of oil has been 50 percent depleted. Once the peak is passed, oil production begins to go down while cost begins to go up. In practical and considerably oversimplified terms, this means that if 2005 was the year of global Peak Oil, worldwide oil production in the year 2030 will be the same as it was in 1980. However, the world's population in 2030 will be both much larger (approximately twice) and much more industrialized (oil-dependent) than it was in 1980. Consequently, worldwide demand for oil will outpace worldwide production of oil by a significant margin. As a result, the price will skyrocket, oil dependant economies will crumble, and resource wars will explode. http://www.lifeaftertheoilcrash.net/Index.html Jeepers, I hope I'm not being controversial here.
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