Hotel rates have biggest drop since Depression
In 2009, hotel room rates in San Francisco and the nation suffered their biggest annual decline since the Great Depression, according to an analysis of recently released data.
Barack Hussein Obama and his henchmen just came back from their "Brainwash America" tour. Unfortunately, the country and the economy is not cooperating with Barack Hussein Obama and his minions. The country and the economy continues to act as if the country is at the start of a great depression with no recovery in sight.
Just like Barack Hussein Obama attempting to save jobs by encouraging failing business to hire more staff, the hotels are trying to encourage unemployed people to stay at hotels by dropping their rates. Neither policy will work, because both policies refuse to acknowledge the real problem. We are in a great depression and the economy only is getting worse.
At least 15 San Francisco hotel owners have defaulted on their loans according to hotel industry analyst Alan Reay. Reay said 12 Manhattan hotels are in default, as are more than 20 San Diego hotels.
Until the economy starts to recover, all the analysts and economists can issue press releases daily about how shocked they are when improvements to the economy based on their baseless optimism doesn't come true.
For an economy to improve, the people must have confidence in their government. For the economy to improve, the government needs to STOP bailing out failing businesses. For the economy to improve, the government needs to stop telling businesses how to run their businesses. For the economy improve, the government needs to allow business owners to make a profit, and keep that profit.
For the economy to improve, the government needs to stop their war on capitalism or the economy will never recover.
No comments:
Post a Comment