Happy Talk vs Structural Issues

I asked him to characterize the economic recovery in Nevada and particularly in Las Vegas.

“Anemic.”

What’s the main reason for the drop in the unemployment rate? “It has nothing to do with a spike in economic activity,” he says. The unemployment rate has dropped because people have quit looking for work or left the state.

What are the odds that we’ll develop a new economic cluster that will free us of the chains of our one-dimensional economy?

“Not in the short term because of the amount of public and private investment and time required to create new economic clusters and transform the economy from one based on discretionary spending to one based on producing.” (Restrepo emphasized he wasn’t commenting on the governor’s policies.) Las Vegas Sun