Is the Recession Back In Las Vegas?
Is the Recession Back In Las Vegas?
Seems that we were just counting the lucky stars and thinking that the recession was basically over! But it looks like many may have been wrong in their predictions as the stock market is pointing downwards yet again and people are starting to lose money on their investments. You may think that this has nothing to do with Las Vegas but some of the stocks that have been leading the downward spiral come straight from the strip.
The stocks that were performing so well just about a week ago are now lower than they have been in months. Las Vegas casino and hotel operators such as MGM, LVS, Wynn and others are reporting losing numbers. This is a sad day for the casino operators as it looked that things were bouncing back to normal just a few weeks ago.
It seems like there will be a bit of back and forth with the current market and what everyone has to do for the next little while is save as much as possible. Spending money may not be the greatest idea for the next little while unless you simply have loads of it! The middle class will surely feel the downturn in the economy the most as the upper classes will not feel it as much especially if they are not heavily invested in the markets.
