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If you want to get a really good indication of where the U.S. economy is heading, just look at what is happening in Las Vegas. During good times, hotel occupancy rates are very high and lots of money is thrown around in the casinos. But when times are getting tough, less people head to Las Vegas and those that do go tend to be tighter with their money. We saw a perfect example of this during the Great Recession. Once the global financial crisis hit, gambling revenues in Las Vegas plunged. The following comes from an ABC News article that was published in 2009…To almost everyone — and especially the Germans — Las Vegas seemed recession-proof. But now, since the summer of 2008, gambling revenues have dropped by more than 10 percent (see graphic) after having plunged to as much as 25 percent in the months immediately following the bankruptcy of Lehman Brothers.Of course things eventually turned around and Las Vegas thrived for many years.Michael Snyder’s Substack is a reader-supported pub...
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