Strip Down

The house always wins. It’s an adage that always holds up. Well, almost. On occasion, the house loses, like when Donald Trump runs the casinos. These days, Trump is running a much larger game with much higher stakes. Is an American economy that seemed to hold all the cards just a few months ago headed for a historically bad beat? Well, if you’re placing your bets, you might want to check with Las Vegas first. The sin city has often served as a bellwether for what’s in the cards for the broader American economy. Economic uncertainty, tariffs, and a hit to international travel are taking a toll. NPR: Las Vegas sees drop in tourism, hinting at broader economic woes facing the US. “Summer is typically a slower season for Las Vegas given its heat, and June was a quieter convention month than last year, according to experts on Las Vegas tourism. But the dip in tourism also comes amid growing concerns over the impact of President Trump’s global trade war and immigration policies on international travel to the U.S. Meanwhile, rising prices and tariffs appear to be changing how American consumers are spending their money.”

+ Don’t like Vegas as an economic indicator? How about breakfast? “At Wendy’s Co. and McDonald’s Corp., diners are cutting back on Maple Bacon Chicken Croissants and McGriddles, even as both chains have offered discounts. Breakfast is doing worse than sales at other times of the day, executives at the two companies said this week. ‘When consumer uncertainty increases and consumers choose to eat another meal at home, breakfast is often the first place that they do that with.'” Fast-Food Breakfast Sales Fade as Diners Eat at Home, Skip Meals.

+ Maybe it’s not actually the economy driving these trends. GLP-1s could be driving down appetites and addictions. Some businesses are reacting by getting small. NYT (Gift Article): Ozempic Is Shrinking Appetites. Restaurants Are Shrinking the Food. I wonder if they can come up with a weekly injectable to suppress the appetite for destruction.