THE ECONOMIC CIRCLE IS BROKEN

WHAT'S WRONG WITH THIS PICTURE?

Las Vegas Sands Plunges on Default, Bankruptcy Risk
By Beth Jinks

The casino owner... said in a regulatory filing today that it probably won't meet the requirements of loans... unless it cuts spending on developments, boosts earnings at its Las Vegas Strip casinos and raises more capital.

The reversal of fortune is a black eye for the 75-year-old Adelson, who was once America's third-richest man on the strength of his Las Vegas Sands holdings. The Las Vegas-based company's dwindling cash flow is threatening $16 billion worth of developments in Macau, China, and Singapore, where Las Vegas Sands is building resorts to cater to wealthy Asian gamblers.

U.S. Unemployment Rate Climbs to 14-Year High of 6.5%
By Bob Willis

Nov. 7 (Bloomberg) -- The U.S. unemployment rate climbed to the highest level since 1994 as payrolls tumbled…

The jobless rate rose to 6.5 percent in October from 6.1 percent the previous month. Employers cut 240,000 workers after a loss of 284,000 in September, the biggest two-month slide since 2001.

If I interpret these articles correctly, a Las Vegas Casino owner has $16 billion worth of developments in Macau, China, and Singapore at risk because Americans are not spending enough at his Las Vegas Strip casinos. At the same time the U.S. unemployment rate hit 6.5% because American employers were investing their American earnings overseas rather than here in America.

Wonder what would have happened if the casino owner would have invested $16 billion in America? -2q(Jim)

Houshold tips:

* Girl Scout patches can be attached with a hot glue gun and stapler.

* Any machine that makes homemade bread or sews makes a good car jack.

* Any toy that requires assembly will never look like the picture on the box.


FLORIDA CITY INCREASES REVENUES

Caught With His Pants Down
Florida man nabbed for violating city's new baggy trouser ordinance

SEPTEMBER 3--Meet Kenneth Smith. The Florida man, 29, was arrested yesterday for wearing baggy pants. Smith was busted by Riviera Beach cops for violating a city ordinance governing low-slung trousers (or, legally speaking, "exposure of undergarment in public"). Smith, who was also charged with disorderly conduct, could be fined up to $150 on the pants charge. In a bid to criminalize a fashion style popularized by urban youth and hip-hop fans, Riviera Beach voters approved the new ordinance earlier this year. While first offenders like Smith only face a monetary hit, if a baggy pants devotee gets nabbed more than once, he/she could face up to 30 days in jail.