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Source link: http://blog.mises.org/10463/the-town-nothing-could-bust/

August 14, 2009 by Douglas French

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A very interesting article about how Las Vegas is dealing with its own meltdown.

{ 5 comments }

Doug August 14, 2009 at 12:15 pm: Holy Hanna! I know this is Time magazine, but uhgg.

The story reminds of an early Mises blog/story with the pictures of a bombed city that didn’t look too much different than a city with rent control. Instead, this is a city with a Fed induced bubble that crashed.
HL August 14, 2009 at 1:32 pm: Ahem, Horst may be right, and Vegas may indeed be a lesser choice than Macau, but I dare say that does not justify writing-off Vegas.

Why, just last night I visited a local cabaret and was overwhelmed with offers of recession-esque deals, such as two for one lap dances, VIP for peasant prices, etc.

Vegas will price itself right, and rise again. I’d bet you $100 on that.
Ontological Quandary August 16, 2009 at 4:37 pm: Doug, could you by any chance link that article with the war-destroyed city vs. then rent control city? I have been looking for days now
Aaron August 17, 2009 at 1:42 am: Hi Doug, I have read about the photo comparison between a bombed town and a rent control town previously, do you know where this can be found?
Vanmind August 17, 2009 at 11:59 am: Shouldn’t government legislate some kind of price floor for those underprivileged Las Vegas producers? I mean, slashing prices is no longer the American way to clear inventory (e.g. unoccupied rooms) and recover from hard times.

Government knows better. Guaranteed. Pray to Dear Leader, and Dear Leader will provide. Works like a charm in North Korea.

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