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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Travis_Bickle who wrote (53780)	7/24/2006 2:29:01 PM
From: mishedlo	Read Replies (1) of 116555

Anecdotes from CoffeeInBed on the FOOL Went to Las Vegas this weekend and just wanted to share a few experiences. 1. Talked to the cab driver who said that there were 30 towers (both condos and hotels) currently under construction on or near the strip. Cranes everywhere. Las Vegas appears to be yet another city where the “count the crane” game can be played. 2. Casinos seemed emptier than usual, even for this time of year, with no problems getting into clubs or restaurants. Saw $10 and $15 dollar tables Saturday evening at Mandalay Bay and saw plenty of empty tables with $15 minimums at all the mid to high range establishments. I've been going to Vegas for years and can't remember the last time I saw a $15 table on a Saturday night, let alone a $10 table. 3. People out in force trying to get you to take a 2-hour tour of XYZ condo hotel/condo for free show tickets etc. Now, these offers have always been around, but every single establishment had people actively selling these things. I was asked, “Where are you in town from?” and “Will you be in town tomorrow?” so many times I started to lie because if you were in town from California or where going to be there tomorrow they went into sales mode. And they were actively stopping people walking by, getting in front of them, to make their pitch. Usually they are content to sit behind the counters and let the signs bring people to them. Makes me wonder what kinds of incentives are being offered. I was approached at least once (sometimes more) in ever single hotel we went to. 4. Once I got out of Los Angeles I had no problems with traffic either to or from Las Vegas. Most weekends will find you sitting in the middle of the desert in stop and go traffic no matter what time you leave. CiB

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