Gas or gamble? Economy forces some to choose
The pressures of a weak economy — concerns about job security and rising prices for gas, food, home heating oil and other goods and services — are causing many gamblers to cancel or reduce the number of casino trips. Those who go are gambling less money than in the past: At the traditional gambling Meccas of Atlantic City and Las Vegas, and in other states, casino revenue is down. Employees are being laid off, and there’s concern about future growth.
BloggingStocks asks about another kind of gaming.
Is the video game industry recession-proof?
Another problem to keep in mind: the Associated Press recently reported that teens are having a tough time procuring summer work in light of the struggling economy. That means less spending money for video games.
Yet we get the conflicting question: Will the Fed raise rates? Rapidly rising prices, slowing economy, spells stagflation, not a pleasant position to be in, the 70s all over again.
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