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I. Nelson Rose: Of Course It's A Depression

Discussion in 'North American Land Based Casinos' started by Mousey, Apr 13, 2009.

    Apr 13, 2009
  1. Mousey

    Mousey Ueber Meister Mouse CAG

    Occupation:
    Pencil Pusher
    Location:
    Up$hitCreek
    Deepest apologies if this has already been posted... I missed it if it has...

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    6 April 2009

    "Buy when there is blood in the streets, even if the blood is your own." Baron Nathan Rothschild

    There is a generally accepted definition of an economic recession a decline in gross domestic product for two consecutive quarters. But people don't agree on what is a depression until years after the fact.

    There is a difference, like the distinction between neurosis and psychosis. A neurotic may have problems, even severe, distressing ones. But a psychotic has at least temporarily lost touch with reality.

    The legal gaming industry is facing a psychotic global economy.

    Take, for example, Penn National Gaming. In mid-2008, Penn Gaming was in the final stages of being acquired, when banks decided to cut off all financing for corporate takeovers. But Penn Gaming's lawyers had done a great job writing in protections. The banks panicked, ....
     

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