OK Yesterday the market took a 600 point turn from the bottom and had the best gain in many months. I know we hear about recession but employment is still good in most sectors, interest rates are dropping, business credit is still growing.
Vegas is still busy but the cab driver economists say traffic is down 20%. It is amazing how many drivers abd waitresses can recite the ‘85,000’ number of the expected attendees of the World of Concrete trade show. Yes I know it sounds funny, but it is a huge trade show. Word is that the attendance fell far short of expectations.
Vegas like many of the overbuilt cities is probably feeling the brunt of the real estate crash more than most. The Danny Gans show was full, however, and new luxury hotels are still breaking ground.
Perhap Vegas is the escape people will go to even when money is tight, but it would seem to be the easiest trip to cut if money was really tight.
The hotels and fine restaurants and shows are impressive and numerous, but there is still a subculture of sleeze and gluttony that pervades this city, even in its finest corners.
After a few days here I am ready to take a shower and go home.