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Old 05-02-2010, 03:13 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,187,029 times
Reputation: 2661

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Quote:
Originally Posted by las vegas drunk View Post
Nobody, and I mean nobody is perfect. The fact of the matter is we are in a false recovery that MSM is leading us to believe is real. I sincerely hope Olecapt is right. The problems are the facts are not leading up to it happening.
Lots of this I don't understand LVD. As Tony S takes great pains to point out I quite missed the RE bust. He and I don't nearly agree on why...but that I missed it is quite clear.

I do however know that we show no signs of a strong any more hyper inflation situation.

Schiff is quite clear in his prediction. And quite wrong it appears. When does he say uncle? Maybe never. He justs makes a new prediction to supplant this one.

I would think we are now in a slow recovery. And the best thing for us is for the rest of the country to take off.

 
Old 05-02-2010, 03:25 PM
 
1,016 posts, read 1,936,998 times
Reputation: 171
Olecpt...do you think lenders will end up making the same mistakes again when the Recession climate clears up and approving loans when they know that most can not afford?
 
Old 05-02-2010, 05:42 PM
 
11,175 posts, read 16,008,375 times
Reputation: 29925
Quote:
Originally Posted by las vegas drunk View Post
The CPI comes from a government agency who is fudging the numbers. Do you trust the government? I certainly don't. They are doing the same thing with false unemployment numbers.
Oh, God. Just think for a moment about what you're saying. That hundreds if not thousands of career civil servants are involved in some mass super-secret conspiracy to keep the real figures from the public.

But then again, you believe in a super secret mass conspiracy involving multinationals to take over the world, so I suppose a little conspiracy by grunt statiticians should be a piece of cake.

I'm sorry, but I can't waste any more time replying to such nonsense.
 
Old 05-03-2010, 04:29 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
I kind of like the recession in Las Vegas. In 9 days I will be visiting for my 9th time and everything is more reasonably priced now- even the buffets where I can buy an all day long pass for $20. Grand Canyon south rim tour at $80 each. Hotel room- even with the upgrade to the new tower- at $45 a night (a bit more for Friday and Saturday) and I have good to great seats for Terry Fador and Jay Leno (3 rows back for Leno!) and hope to get the same for the Fab Four. The only thing I have not been able to find for a good price is Cirque De Soleil but you cannot win em all!
 
Old 05-03-2010, 04:31 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
Quote:
Originally Posted by Chichappens View Post
Olecpt...do you think lenders will end up making the same mistakes again when the Recession climate clears up and approving loans when they know that most can not afford?
The lenders will resume the same practices because the lenders really have no down side. If you pay them back, they make money. If you don't pay them back, Fannie, Freddie and the FHA cover their losses. So they can't lose. They don't even really care if you pay them back or not.
 
Old 05-03-2010, 04:49 PM
 
18,208 posts, read 25,840,395 times
Reputation: 53464
Quote:
Originally Posted by KevK View Post
I kind of like the recession in Las Vegas. In 9 days I will be visiting for my 9th time and everything is more reasonably priced now- even the buffets where I can buy an all day long pass for $20. Grand Canyon south rim tour at $80 each. Hotel room- even with the upgrade to the new tower- at $45 a night (a bit more for Friday and Saturday) and I have good to great seats for Terry Fador and Jay Leno (3 rows back for Leno!) and hope to get the same for the Fab Four. The only thing I have not been able to find for a good price is Cirque De Soleil but you cannot win em all!
While I'm not a fan of recessions as they are hard on bank accounts (esp. mine) KevK makes a good point on hotel rooms. Deals are definitely out there.

Another thing about Vegas that has been affected is the traffic. No complaints there! My uncle lives there, I went down for a visit. I-15 was actually moving OK! From Charleston to the Tropicana exits I did have get down to maybe 40 mph here and there, but traffic was actually moving!
 
Old 05-03-2010, 04:55 PM
 
Location: North America
5,960 posts, read 5,544,156 times
Reputation: 1951
Quote:
I kind of like the recession in Las Vegas. In 9 days I will be visiting for my 9th time and everything is more reasonably priced now- even the buffets where I can buy an all day long pass for $20. Grand Canyon south rim tour at $80 each. Hotel room- even with the upgrade to the new tower- at $45 a night (a bit more for Friday and Saturday) and I have good to great seats for Terry Fador and Jay Leno (3 rows back for Leno!) and hope to get the same for the Fab Four. The only thing I have not been able to find for a good price is Cirque De Soleil but you cannot win em all!
I wonder what people who live in Vegas and are desperate for work would think of your post.
 
Old 05-03-2010, 05:05 PM
 
1,347 posts, read 2,447,634 times
Reputation: 498
Quote:
Originally Posted by olecapt View Post
Schiff et al should have rested on their laurels. They are not doing at all well at the moment.
Based on what data? And who is the nebulous "et al" you reference?
 
Old 05-03-2010, 05:17 PM
 
Location: Las Vegas
3,728 posts, read 9,470,355 times
Reputation: 1323
Quote:
Originally Posted by clb10 View Post
I wonder what people who live in Vegas and are desperate for work would think of your post.
I think KevK's post is wonderful! He is a tourist and that's what they're supposed to do, enjoy Las Vegas, whether people are in work, out of work, looking for work, whatever.

The recession and how it is affecting some Las Vegas residents should mean NOTHING to tourists and they shouldn't really care what is going on as far as residents go in Las Vegas.


In other words clb 10, KevK should'nt give a rats behind how the negative economy is affecting some people that live here. Tourist's prerogative.

Have a fantastic time KevK!!!

Last edited by MomMom; 05-03-2010 at 05:41 PM..
 
Old 05-03-2010, 06:26 PM
 
Location: Las Vegas, NV
901 posts, read 1,898,042 times
Reputation: 1044
Quote:
Originally Posted by Chichappens View Post
Olecpt...do you think lenders will end up making the same mistakes again when the Recession climate clears up and approving loans when they know that most can not afford?
Quote:
Originally Posted by KevK View Post
The lenders will resume the same practices because the lenders really have no down side. If you pay them back, they make money. If you don't pay them back, Fannie, Freddie and the FHA cover their losses. So they can't lose. They don't even really care if you pay them back or not.
Yes, and very soon, if Mr. Frank gets his way. At least in the condo market.

Barney the Underwriter - WSJ.com
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