Las Vegas Economy Among Worst in the World

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Las
Vegas’ economic performance is fourth from the bottom in newly
released world rankings, reports
the Las Vegas Sun
.

Vegas has truly
beome an inflation supported city, as Bernanke’s QE2 starts making
its way through the system, I fully expect the city to show a rapid
rebound. Conventions will be big again and the demand to hold cash
will reverse from being very high to just the opposite. And when
you want to get cash out of your hands quickly, Las Vegas is the
place.

Bottom line:
I’m bullish on the future for Vegas, but right now it’s pretty ugly.
Here’s more from the Sun:

Before the
recession, in measurements analyzing 1993 through 2007, Las Vegas
ranked No. 14 in the world among 150 metropolitan areas studied
by the Brookings Institution and London School of Economics.

Las Vegas
fell to 128th in the rankings during the recession in 2008 and
2009, and since the recovery has begun, its ranking has fallen
to 146th. That’s better than only Dublin, Ireland (150);
Dubai (149); Barcelona, Spain (148); and Thessaloniki, Greece
(147)…

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the rest of the article

December
1, 2010

2010
Economic Policy Journal

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