From The Las Vegas Sun: "UNLV economists aren’t optimistic about a quick recovery of the Southern Nevada economy.
The Center for Business and Economic Research released its Southern Nevada Index of Leading Economic Indicators, which has remained essentially flat.
The index stood at 125.89 in March, up 0.05 percent from February and down 1.05 percent from March 2009. It measures economic activity in January and is a forecast through July 1.
“It is difficult to have much optimism about the near-term economic picture for Southern Nevada because the majority of the series comprising the index is either falling or caught in the doldrums,” said Mary Riddel, the center’s interim director.
Taxable sales continue to be a drag on the index, falling 8 percent in January from January 2009. Gross gaming revenue, convention attendance and the number of passengers traveling through McCarran International Airport continued to be a drag as well, Riddel said."
This is very surprising for the Sun to report this since this really a slap to the Democrats who are in charge.
Despite all the stimulus money, despite that Harry Reid is the one of the most powerful people in the United States, despite the supposed help with foreclosures, the economy in Vegas stinks and it's not going to get better.
As Bill Clinton said "it's the economy, stupid" well that will hold true in the primaries and in November. A lot of incumbent politicians will lose their jobs and this will probably include Harry and Rory Reid and Jim Gibbons.
At the Magnolia Café...
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