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Were the Boom Years Worth It?
Were the Boom Years Worth It?

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AIR DATE: February 8, 2012

The recession has been particularly hard on Las Vegas and on Nevada. Were the boom years worth the pain? Applied Analysis' Jeremey Aguero says yes, definitely.
 
And he says, had we focussed more on economic diversification during the 1990's and early 2000's, we would have missed out on the full benefit of those boom years.
 
Aguero joins us to explain why the upsides of more than a decade of growth, was worth the pain of the bust years we're living through today.
 
GUEST:
Jeremy Aguero, principal analyst, Applied Analysis
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    COMMENTS:
    "Honey we sure did eat big back in the day. Gosh our kids grew fast. Too bad some of them are stunted now and a couple even starved. But damn, it was worth it and I'd do it again." (rolls eyes)
    aunty palinFeb 7, 2012 09:21:06 AM
    Bah this guy is just getting airtime to boost his consulting business. More Dr. Lang!
    aunty palinFeb 7, 2012 09:18:14 AM
    The guest's argument is correct, but only for the wealthy. Meanwhile, most Nevadans have been put at a disadvantage by our immense boom-and-bust cycle. Those who can afford to choose their childrens' educations, whose personal wealth isn't tied to the value of their home, are doing fine. My working-class parents, whose pay has been cut and whose home value, when adjusted for inflation, is worth less now than when they bought it in 1989. Most Nevadans will continue to suffer from low wages & poor education & infrastructure as a result of this bust. Defending our lack of economic diversification is unproductive and unrealistic.
    BenFeb 7, 2012 09:15:13 AM
    It's not that the rich have been untouched--it's as a group, they are the ones for which the downfalls of Nevada's economic crisis is outweighed by the benefits of the preceding boom.
    BenFeb 7, 2012 09:36:15 AM
    Ben, your argument is precise and accurate, it correlates with the 1% versus the 99%. Hopefully when all of the 99% acknowledge they've been taken for a ride to nowhere for the past 3 decades, by allowing capitalism to hijack democracy, when the 99% demand their politicians return the country to principles of accountability, fairness, integrity and ethics, we will once again become the beacon on the hill other nations attempt to replicate.
    larry lueyFeb 7, 2012 11:21:51 AM
    So did App. Anal. call the bust before it happened or were they too busy raking in the consulting gigs both before and afterwards? Whenever the finance/econ/gov types say no one could have seen the bust coming, I roll my eyes. These people are either stupid or did not say anything because they did not want to spoil the party.
    aunty palinFeb 7, 2012 09:05:15 AM
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