Distressing "FACTS"

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Las Vegas stripped by deep recession.

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Las Vegas stripped by deep recession. Don’t believe it….! It so happened that I had to visit Las Vegas for Home furnishing trade fair (related to my business) in World Market Center.  When landed the land of Las Vegas I realized the affect of recession. Empty roads and empty heavy discounted hotel rooms represented the declaration of heavy recession, confirmed by the hotel receptionist and the taxi driver. The present deserted Las Vegas looked like an age old desert land.
World market center once was packed with vendors and customers did not seem to gather crowd this time. There was enough number of exhibiting vendors as usual but failed by minimized visiting retail customers. Customers visited from Brazil, Mexico, Canada, Honolulu, other parts of US, and neighboring countries gave negative indication, rather avoided over buying for their stores. Many deals ended up in heavy bargains. The show however, did not turn up as expected. In fact I work as representative for overseas importers of home furnishing textiles, thought could manage approaching exhibitors. Many commented “O! Boy no homes no home furnishings.” Realized chose wrong time to visit and wasted money on the trip.  An alarming signal to US administrations to bring solutions to overcome as soon as possible, delay will only aggravate unemployment. Small industries and shops would wind up.
  • Mange to put full stop on excessive escalation of housing cost so housing become cheaper so each house has new curtains/ cushion, bed linen, bathmats rugs are bought and decorated in new affordable houses.
  • Actual bailout needed for small and medium textile sectors so can survive this crisis. An incentive program on made in US products and gift items, as this sector consumes more employment without special skill than a car or weapon industry.
  • Research and education in agricultural sectors so fullest utilization and consumption is achieved even from the agricultural waste.
Each morning me and taxi driver chatted different subjects but finally ended up economic crisis blaming mortgage crisis. But none realized mortgage was not the real crisis rather lack of buying power and artificially escalated cost of housing and essential commodities led to unaffordable situation. O! Boy Life in US is gonna crazy V low income will end up crazy, income slashing 30-40% down “Wanna bailout for safe life.” “We have many layoffs and closures. Unemployment is real hell we need to get out of it.” Hey! Obama middle and low income who I chatted with, favor you in they expect also a lot from you be prepared.
  • Next generation solutions are to handover money to the citizens and ask them to spend on non essential luxury goods and give record and save tax. US$ 13 would only be enough to 13 water bottles would never serve purpose if spent on essential commodities as demand of essential commodities does not decline that fast as the MP3 or camera.
  • Housing prices will go on crashing until real customers afford to buy. Affordable Mortgage rates possible only when housing values reach at real prices.  Keep check on speculators. And invent productive investment resources so money is not wasteful investment.
Life of low income group is real hell. A woman in world market center, worked for a coffee vendor explained “I start working at 7am and end at 10pm. That’s not finish I sleep at 2 am because of my child.”  Even then I do not get enough money to manage. Shows how competitive the labor market is? Is not the story of one woman alone, the entire low and middle income group would narrate the same story!

  • Creating more jobs and resources are the only solution to put to an end to labor competition.
  • In Los Angeles many illegal immigrants working for cheaper wages eating away jobs. Incentive and disincentives for own population at work.
At airport An African American taxi driver to me “Good day enjoy your trip, no to worry! Its recession vanish in 2 years. Love India and rich culture”

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