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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

    Pencil Pusher
    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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