Casinos in Atlantic City close, 5,000 workers out of work

[HELP.org]

The blame goes to the politicians who try to run casinos, build shopping malls, etc. with tax dollars rather than allowing the free market to take hold.  No one party is responsible because they both do it.  The politicians are having a big summit here Monday.  Revel was not going to be built at all until the politicians got involved and bailed the project out.  Plus the City did all kinds of stuff.  Now there is a 29% property tax increase on top of the lost jobs.  But many of the jobs were not real to begin with, they were government bailout jobs, not free market jobs.  The politicians ran around saying "a rising tides raises all ships" and that was their business plan for the new casino.  

Everybody knows the only reason AC was popular was because they had a monopoly.  People stopped coming to AC when jet planes became popular in the 1950's and that is not going to change.  the casinos in Philly are not "major casinos," they are boxes with slots and table games and the parking lots need to be patrolled so they can arrest the parents who leave their small children in the car to go in and gamble.

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[noviapriani]

That said, California is full of Native American casinos with plenty in the LA region....with more being added all the time.  And they are springing up in Nevada as well and they are giving LV competition, as is Reno, as is online gambling.  Additionally they each have their different pro/con impact on their clientele and communities/cities/states. 


And that said, the poor economic conditions driven by Obama policy is ALSO impacting all of these places whether you want to see that or not.

[zolace]

That said, California is full of Native American casinos with plenty in the LA region....with more being added all the time.  And they are springing up in Nevada as well and they are giving LV competition, as is Reno, as is online gambling.  Additionally they each have their different pro/con impact on their clientele and communities/cities/states. 


And that said, the poor economic conditions driven by Obama policy is ALSO impacting all of these places whether you want to see that or not.

Didn't know about the native American casinos near LA. Thanks for that info. But as we both pointed out, Vegas is an experience - it's not JUST about a place to place a bet. And the other element - it's long established.  And yes, I already agreed that the economy probably has some effect (having been in Vegas just a couple of weeks ago, I can say it's evident there too), but I think it's hilarious that you still claim that those "poor economic conditions" were "driven by Obama".  Facts indicate otherwise.

[Mr.Bitty]

That said, California is full of Native American casinos with plenty in the LA region....with more being added all the time.  And they are springing up in Nevada as well and they are giving LV competition, as is Reno, as is online gambling.  Additionally they each have their different pro/con impact on their clientele and communities/cities/states. 


And that said, the poor economic conditions driven by Obama policy is ALSO impacting all of these places whether you want to see that or not.

Didn't know about the native American casinos near LA. Thanks for that info. But as we both pointed out, Vegas is an experience - it's not JUST about a place to place a bet. And the other element - it's long established.  And yes, I already agreed that the economy probably has some effect (having been in Vegas just a couple of weeks ago, I can say it's evident there too), but I think it's hilarious that you still claim that those "poor economic conditions" were "driven by Obama".  Facts indicate otherwise.

Let's see……Obama has been (and I use this term extremely loosely) in command for six years, and the economy sucks big time, lots of businesses have closed, lots of homes have gone into foreclosure, lots of jobs have been lost, there is plenty of underemployment, way too much part time employment, far too many people on some sort of public assistance----this is all in the 6 years this jackass has been 'in charge', but don't you dare say the problems are 'Obama driven'.

[umair127]

there are always large layoffs somewhere.  The question is whether it is the norm or the exception.....and politicians don't tell us about economy unless you are stupid enough to listen to them....economists do. Casinos going out of business doesn't break my heart.  Maybe people are finally realizing it is a losing proposition......a voluntary tax on the ignorant (usually poor).


Why the U.S. economy is outperforming many of its peers

(even-handed, positive and negative)

http://www.washingtonpost.com/news/storyline/wp/2014/09/03/why-the-u-s-economy-is-outperforming-many-of-its-peers/

[zolace]

there are always large layoffs somewhere.  The question is whether it is the norm or the exception.....and politicians don't tell us about economy unless you are stupid enough to listen to them....economists do. Casinos going out of business doesn't break my heart.  Maybe people are finally realizing it is a losing proposition......a voluntary tax on the ignorant (usually poor).


Why the U.S. economy is outperforming many of its peers

(even-handed, positive and negative)

http://www.washingtonpost.com/news/storyline/wp/2014/09/03/why-the-u-s-economy-is-outperforming-many-of-its-peers/

It's all a matter of comparison - which you are incapable of doing. If Obama had been inaugurated and inherited a stable economy (not even growing, just stable), and then things deteriorated and got to the point where they totally suck, you could have a point. But you always pretend that all of this started when Obama took office. You never acknowledge the fact that when he took office we were bleeding 700,000 American jobs a month and the economy was in freefall.  Compared to the state it was in when he took office, and considering the Republicans blatant efforts to PREVENT recovery, I think it's pretty clear that what we should be discussing is not "Obama driven" problems, but "Obama driven" recovery - which as you have just been reminded yet again, is actually recovering better than any other western industrialized nation that was affected by the collapse.  So- by all means, why don't you regale us with all the specific moves Obama has made that have resulted in deterioration of the economy. 

[HELP.org]

there are always large layoffs somewhere.  The question is whether it is the norm or the exception.....and politicians don't tell us about economy unless you are stupid enough to listen to them....economists do. Casinos going out of business doesn't break my heart.  Maybe people are finally realizing it is a losing proposition......a voluntary tax on the ignorant (usually poor).


Why the U.S. economy is outperforming many of its peers

(even-handed, positive and negative)

http://www.washingtonpost.com/news/storyline/wp/2014/09/03/why-the-u-s-economy-is-outperforming-many-of-its-peers/

It's all a matter of comparison - which you are incapable of doing. If Obama had been inaugurated and inherited a stable economy (not even growing, just stable), and then things deteriorated and got to the point where they totally suck, you could have a point. But you always pretend that all of this started when Obama took office. You never acknowledge the fact that when he took office we were bleeding 700,000 American jobs a month and the economy was in freefall.  Compared to the state it was in when he took office, and considering the Republicans blatant efforts to PREVENT recovery, I think it's pretty clear that what we should be discussing is not "Obama driven" problems, but "Obama driven" recovery - which as you have just been reminded yet again, is actually recovering better than any other western industrialized nation that was affected by the collapse.  So- by all means, why don't you regale us with all the specific moves Obama has made that have resulted in deterioration of the economy. 

Economic recoveries are driven by businesses, not politicians.

[noviapriani]

That said, California is full of Native American casinos with plenty in the LA region....with more being added all the time.  And they are springing up in Nevada as well and they are giving LV competition, as is Reno, as is online gambling.  Additionally they each have their different pro/con impact on their clientele and communities/cities/states. 


And that said, the poor economic conditions driven by Obama policy is ALSO impacting all of these places whether you want to see that or not.

Didn't know about the native American casinos near LA. Thanks for that info. But as we both pointed out, Vegas is an experience - it's not JUST about a place to place a bet. And the other element - it's long established.  And yes, I already agreed that the economy probably has some effect (having been in Vegas just a couple of weeks ago, I can say it's evident there too), but I think it's hilarious that you still claim that those "poor economic conditions" were "driven by Obama".  Facts indicate otherwise.

Yes, well your idea of economic fact is very different from mine.   Whether you like it or not, I am versed in economics and can spot someone who isn't a mile away.   And neither you nor Obama is.   While he has advisors to be sure, you are not even versed enough to understand they are the same braintrust as Bush's and I didn't support his policies either.  They are both Keynesians, they only differ on how they weight choices within that framework, and by far Obama has done more long term systemic damage.

[noviapriani]

Here is an article you might interesting.  This guy is a leading Keynesian, and while he isn't ready to give up on it as a theory, you may want to note that he believes the middle class and below have been in a long term Depression and is ready to at least give up the pretense of recovery:

http://www.project-syndicate.org/commentary/j--bradford-delong-argues-that-it-is-time-to-call-what-is-happening-in-europe-and-the-us-by-its-true-name

[umair127]

I just got to the word 'inherited' and quit.If after six years of this idiot in office his buffers are still blaming Bush, there is no hope for them.
Low information is low information.