Where will the money go?

Apr 14, 2008 8:32 PM

by Ray Poirier | Many analysts have already discounted the economic stimulus package proposed by President George Bush and passed by the legislature. They contend that most Americans receiving $1,200 down to $300 have already spent the money and will use their checks to pay down debt.

"Oh No," says one analyst who asked to remain anonymous.

"Just look at what happened in New Orleans when the government injected millions of dollars in reconstruction money after Hurricane Katrina. Much of that money went straight to the casinos.

"Why for months afterward, the casinos were shoulder-to-shoulder with people. So, look for the casinos to see a boost in business by the time Memorial Day rolls around," he predicted.

He also was especially high on the prospects for Nevada casinos. The reason for his optimism, he explained, was the "falling dollar."

"Since European currency can buy so much more in this country," he said, "it will encourage Europeans to visit the only tourist Mecca of its kind, Las Vegas.

"Also, the dollar’s poor buying power will motivate Americans to stay in this country and take advantage of the specials that Las Vegas entertainment destinations will offer," he concluded.