The Death Of Las Vegas: Capitalism?
There are quite a few U.S. cities that are complete and utter economic disaster zones in 2010 (Detroit for example), but there is something about the demise of Las Vegas that is absolutely stunning. In recent decades, Las Vegas has become a symbol for the over-the-top affluence and decadence of America. But now it is a microcosm of the economic nightmare that has gripped the entire nation. When the subprime mortgage crisis stuck, no major U.S. city was more devastated than Las Vegas. When the recession went from bad to worse, Americans decided that they really didn't need to gamble so much and casino revenues plummeted. Suddenly unemployment started to increase dramatically in Vegas and even today it continues to soar. Like so many other cities that are highly dependent on tourism and entertainment, Las Vegas has gone from boom to bust. Local officials are hoping that the worst will soon be over, but the truth is that the worst is yet to
come. As the U.S. economy continues to unravel, average Americans will be spending what little money they do have to put a roof over their heads and to feed their families. The truth is that the glory days of Las Vegas are over and they are not coming back.
Already, the number of unemployed in Las Vegas is reaching unprecedented levels. Unemployment rates for the state of Nevada and for the city of Las Vegas both set new records during the month of April. In Las Vegas the unemployment rate in April was 14.2%. For the entire state the unemployment rate was 13.7%.
Of course those are just the "official" numbers. We all know that the "real" unemployment numbers are much higher.
“Capitalism views that GREED benefits the whole!” ZetaTalk
Note: written by Jul 15, 1995
Regarding capitalism, with its arguments that the whole benefits from the avarice and greed of the few. Proponents point to the United States or other western civilizations as proof of the theory. Where in truth there are the wealthy, as there always are in every civilization, nevertheless poverty still reigns for the masses. Is your United States any different, in truth? How many citizens are starving on the streets, in increasing numbers? How many tiny school children sit with hollow eyes because their bellies are cramping in an insistent demand for the breakfast they never seem to get? How many families try to make moldy, bug ridden quarters cheerful, with not much more than a plucked dandelion or two. Children playing in the mud because this is their only toy. This is Capitalism's outcome. In point of fact, these statistics would be a thousand times worse if Capitalism were allowed to run full course. It is held in check by your laws.
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