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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December 1, 2010