I'm sure this article won't register with most people. Until age 9 I lived up on a hill overlooking this hotel. Went to band camp in it. My father used to talk about growing up in the ‘20's & ‘30's when the area was filled with casinos & hotels & working in this hotel. The big hotels went under in the depression & the casinos dried up, too. Dad liked to point out that the preacher's house had been a casino. Now the big showpiece hotel is back, and they've put in a "legal" casino. Indiana allows casinos on waterways, a throwback concession to riverboats. The new casinos is an ugly concrete building with a moat around it to meet the water requirement. The area is just alive with everyone so excited about how the good times are here again. Me, I see the sign of a big top with another depression around the corner.
--Matt R.
EWT predicts that while gambling is likely to persist through the start of the bear market, it will “probably get seedier” and fall on hard times like everything else.
In addition to expressing the peak level fascination with “going for broke” with a spin of the roulette wheel, the reawakening of the West Baden Springs Hotel is another classic bull market undoing of damage done by a preceding bear market. According to various accounts, “The stock market crash in 1929 caused the hotel to fall on hard times.” It was closed at the bottom in 1932. So the West Baden hit on went into a steep decline and eventually precisely in line with the last Supercycle degree bear market. If EWI is right and fourth waves offer of glimpse of the negative consequences to come in the next bear market of one larger degree, the new West Baden Springs Hotel will have a tough time making a go of it. Also notice that the year the structure was designated a national historic site, 1987, the same years as the last notorious stock market crash. |
