Artificial stripper bubble pops
In his recent article “Sorry, We’re Clothed,” Mises Institute President Doug French makes the case that the Las Vegas strip club market was artificially enhanced during the recent boom period through Fed injections of artificial money. Due to aggressive monetary expansion over the past 15 years, an excess amount of capital flowed into many industries and led to the creation of so-called “bubble” markets.
French lays the truth bare as he makes the case that the Las Vegas strip club market was one of the industries that enjoyed this type of unsustainable growth as inordinate amounts of capital fell onto the laps of strip club owners. As French shows, the necessary market correction that is the inevitable result of such unsustainable growth has led to a recent downturn in the strip club industry.