MACAU IMPLODES
China is so dependent on the money from
Macao, yet they do everything possible to
cut it off. Crackdown on corruption and
scare people away, ban smoking in a country
where almost everybody smokes, make
visa's hard to get. It's almost like they don't
have a clue.
Quote: EvenBob"More than 80% of government revenue comes directly from the casinos"
China is so dependent on the money from
Macao, yet they do everything possible to
cut it off. Crackdown on corruption and
scare people away, ban smoking in a country
where almost everybody smokes, make
visa's hard to get. It's almost like they don't
have a clue.
No, the amount that Macao contributes to China's GDP is a piddling. Nothing would happen to China if Macao went belly up and all the casinos closed
Quote: FroggerNo, the amount that Macao contributes to China's GDP is a piddling. Nothing would happen to China if Macao went belly up and all the casinos closed
Correct. Macao depends on gambling, but China does not depend on Macao.
However, the corrupt officials of the CCP indeed depend on Macao for entertainment and money laundering.
How things have changed since millions starved under Mao's Great Leap Forward.
You have to watch out for the 6 $3b projects under construction.
2 will be completed this year. The others we shall see.
It may turn out to be Vegas again during the recession in 2008.
Unfinished construction left rotting and companies like Byod and others going bust.
Quote: Deck007You aren't seeing anything yet.
You have to watch out for the 6 $3b projects under construction.
2 will be completed this year. The others we shall see.
It may turn out to be Vegas again during the recession in 2008.
Unfinished construction left rotting and companies like Byod and others going bust.
Sands Las Vegas and Wynn both have projects under construction in Macao. They must know something. I doubt either is going bust.
Think: "City Center."
Quote: NokTangSands Las Vegas and Wynn both have projects under construction in Macao. They must know something. I doubt either is going bust.
The present building programs started a couple of years back. They couldn't build fast enough. Nobody saw what Xi was about to unleash.
Oh yes, Sands nearly when bust in the 2007 downturn if he had not a few $B of his own money.
Quote: coilmanhttp://money.cnn.com/2015/03/16/news/economy/macau-gambling-gdp-revenue/index.html
Typical CNN bad reporting. That $250 average bet is NOT in USD but in HKD. That comes out to around $30 USD. Not everything is revolved around the USD as it is going to lose its world reserve currency one day in the future.
As usual EvenBob got it wrong once again. China as a whole does not depend on the revenue of Macau. The local government does. Oh dear. Maybe you were the one who wrote that crappy CNN article.
Quote: DMSCRNot everything is revolved around the USD as it is going to lose its world reserve currency one day in the future.
Really, you think so? Pick a date on which you would be willing to take either the over or under.
Quote: ParadigmReally, you think so? Pick a date on which you would be willing to take either the over or under.
Typical Obama supporter in denial. LOL.
Quote: ParadigmNot sure where the Obama comment comes from (I voted for Romney in 2012).......back to the original question, which date did you select for the over/under proposition on a change away from the USD as a reserve currency?
Oh you're one of those.
2105. But don't think we will exist as a species long enough since we are all armed to the teeth. Now the question is who and what will be the replacement. I say Soylent Green.
The Forum waits with baited breath for your next insight 90 years in the future......what a joke!
Or better yet head over to Macau and play some bac. ROFL. Say hi to Egalite/jauno when you run into that booger when he is at his usual tilt complaining about paying $2 for a cup of coffee.
