Business is booming in Las Vegas. Investors from around the globe are investing tens of billions of their money…right now, in the middle of a terrible economy. Why?
I love Las Vegas. I don't mean to disparage it. But the reality is, Las Vegas is situated in the middle of an ugly desert. In the summer it's an awful 110 degrees. There is no reason anyone would invest billions of dollars here, instead of say San Diego or Los Angeles or San Francisco or Denver. All of which are much more naturally beautiful places. Or Atlanta, Charlotte or Dallas- big time cities with huge populations both in the city and nearby. Vegas is in the desert, in the middle of nowhere. Why are smart banks and big companies gambling on Las Vegas?
It certainly isn't because the U.S. economy is booming. It's not.
The national media tries to project a positive picture. But they are covering up the facts to protect their buddy Obama. The reality is that the U.S. economy is in freefall. Have you seen the GDP numbers for the first quarter? We’re in reverse. http://money.cnn.com/2014/04/30/investing/gdp-economy/
Obama blamed it on cold weather. Yet somehow Canada’s economy is booming, with much colder weather. http://business.financialpost.com/2014/02/28/canada-gdp-surges-2-9-in-final-quarter-blowing-past-expectations/
Tax revenues in 26 states are still lower than in 2008. And the gain from the other states is merely because they raised tax rates. http://www.moneynews.com/Economy/Pew-Recession-States-Revenue/2014/05/19/id/572183/?ns_mail_uid=32342417&ns_mail_job=1569821_05202014&promo_code=sl335zgr
The jobs picture is even worse. The media claims unemployment is going down. That narrative is either pure fantasy or fraud. The reality is that the unemployment rate improved because 806,000 people stopped looking for work last month. http://www.dailykos.com/story/2014/05/02/1296044/-Government-reports-increase-of-288-000-jobs-in-April-Official-unemployment-rate-falls-to-6-3#