Las Vegas: Too Many Dealers, Too Much Bad Credit, Just the Right Number of Lawyers
Boohoohoo, we’re lightly burdened with Legislators at 11 percent, Urban regional planners at 42 percent, and Social scientists at 45 percent.
Grexit Spells Trouble For Trump's Bubbleland
Investors may have forgotten that the U.S. market swoons when Greeks get handouts. July will be here soon and the Greeks owe a $7.42 billion bond payment they have no hope of paying.
Lawyers Cry Crocodile Tears, While Their Clients Dance On
“They’re a hard demographic to represent,” lawyer Leon Greenberg told Allie Conti of vice.com. “The girls who are into it are making a lot of money, so it’s easy to say, ‘Oh, we’re getting $500 or $1,000 or a couple of thousand dollars for a day or night’s work.’
Clouds Over 2018
t’s as the Austrian economists predict: when the monetary accommodation ends, it’s time for the cleansing of malinvestments to begin.
Wall Street Depression Takes Another Life
Perhaps world markets are on the edge of crashing and those on the inside know it and don't want to be around for the carnage.
Mary Wilson: Still Hustling to Prove Herself
The grandmother of eight sang an eclectic mix of tunes she said had meaning in her life. She’s still out to prove she can sing more than the ooo’s and ah’s she did backing up Diana Ross.
Turning Japanese, Again
Sumitomo Forestry wants more land to become "a leading homebuilder in the United States," with the goal of building 5,000 homes
Trump on the Couch
The day has arrived. Donald J. Trump, “firstly can’t make properly informed decisions, according to a White House aide. Briefing materials must be ‘no more than a single page…They must have bullet points but not more than nine per page."
Chained to Trump's Rhythm
Reality television, despite bearing no relation to reality, has shaped Trump into a man for the age, the reality TV age
Once a Diva, Always a Diva
Ms. Ross has survived in stunning fashion. One wonders if Gaga, Adele, and the Queen Bey will do as well and be as worshiped when they hit their 70s.
From a Business Entrepreneur to a Political One
It’s clear how Linda McMahon sees her future, not as a business entrepreneur, but as a political one. She has run twice unsuccessfully for the Senate but didn’t give up, donating enough money to attract Donald Trump’s attention to run a Cabinet-level agency.
Sin City's other Main Industry: Land!
The Las Vegas land numbers (price and volume) pale compared to the boom years of the post 9/11 Fed induced bubble. However, interest rates are still low, and as Clark County Commissioner Tom Collins once said, "God ain't makin' no more dirt, but he is still makin' babies. Stay tuned.
Extraordinary Cuddly Delusions and the Madness of Crowds
Easy money and the allure of certain riches have trapped speculators for centuries. A bubble that is easy to see in hindsight seduces the imagination while in progress, whether the trading is in tulips or teddy bears.
In heat of the market, as speculators give chase, bubble values make perfect sense.
We're Here for the Party, Not to Gamble
Las Vegas has turned into a big party with more low-rollers thinking its BYOB. They don't have the money to gamble, so they club it a bit, then trash their cheap hotel room for kicks.
Keynesians at the central bank think people are just so many particles to be plugged into their models to determine what to set the fed funds rate to, or how much Q to stir into its QE. But when the researchers plugged numbers into MV=PQ, they admitted, “(I)nflation in the U.S. should have been about 31 percent per year between 2008 and 2013, when the money supply grew at an average pace of 33 percent per year and output grew at an average pace just below 2 percent.”
Rickards emphasizes that economic order emerges spontaneously from economic complexity instead of being imposed by central bankers and their policies. So what we have now with central bank central planning is disorder and continuous malinvestment.
The Independent Institute’s Boom and Bust Banking: The Causes and Cures of the Great Recession features multiple authors but puts the blame for the crisis with one institution–the Federal Reserve.
Most home sales in Las Vegas are made during the warm month window (March to October) making this February sales spurt unusual.