BIDENOMICS - Report: U.S. Hotel Industry Faces Closures, Ongoing Depression in Post Pandemic Era

 

Inflation is Surging as Wages are Falling - People are Unprepared

https://www.youtube.com/watch?v=pu9Ad7Y3SZE

Peter Schweizer: Our Copy of Hunter Biden’s Laptop Confirms ‘Joe Biden Was a Direct Beneficiary’ of His Son’s Deals

48,125

AP Photo/Ng Han Guan

ROBERT KRAYCHIK

12 Jul 20219,326

2:45

Peter Schweizer, president of the Government Accountability Institute (GAI), said on Monday that his organization had confirmed that President Joe Biden “was a direct beneficiary” of Hunter Biden’s financial deals with foreign interests.

“We do have a copy, by the way, here at GAI of [Hunter Biden’s] laptop and all the files,” Schweizer said on the Sean Hannity Show. “It confirms that Joe Biden was a direct beneficiary.”

LISTEN (interview begins at 1:05:05):

Schweizer explained how GAI cross-referenced Secret Service travel logs during Joe Biden’s tenure as vice president to corroborate the authenticity of Hunter Biden’s emails.

He remarked:

GAI asked, “How can we demonstrate whether the emails are real?” … We already have, for example, Hunter Biden’s Secret Service travel records. They were released by Senator [Ron] Johnson’s committee. These are the official records that say the Secret Service traveled with Hunter to this location, to that location, etcetera.

So we asked, “Do the emails on Hunter Biden’s laptop correspond with the travel records? If our email references that [Hunter] is in Dubai on a certain date, does that line up with the Secret Service travel records? Absolutely, 100 percent.

…

So there is no question. Of course Hunter Biden hasn’t denied it. But there’s no question that the laptop emails that we have possession of are 100 percent accurate and correspond directly with existing material, and the information is devastating.

GAI is in the process of investigating its copy of files found on Hunter Biden’s laptop, Schweizer shared. He said GAI’s forthcoming reports on the laptop’s contents will expose disastrous dimensions of the Biden family.

“We’re in the middle of the investigation now, but by the end of the year it will be completed, and it will take on a far more sinister tone than it has even now in terms of what it says about the Biden family and the vulnerabilities of the Biden family,” Schweizer stated. “It’s that bad.”

Hannity asked, “On a scale of one to ten, how bad are the coming revelations from this laptop?”

He added, “The coming revelations [from our investigation] based on what we are in the middle of right now, on a scale of one to ten — and you know Sean, I’m pretty cautious about this stuff — frankly are an eleven. It’s that bad.”

Hunter Biden claimed to not know whether the laptop in question was his. Asked in April of the laptop’s authenticity, he replied, “For real, I don’t know.”

Small Business Inflation Metrics Hit Highest Since 1981

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AP Photo/Brennan Linsley

JOHN CARNEY

13 Jul 202185

1:50

A record share of small businesses say they are raising prices, data released Tuesday showed.

The National Federation of Independent Business said that the net percent of small businesses that have raised prices rose seven points to 47 percent, the highest seasonally adjusted inflation since 1981.

Five percent reported lower average selling prices, unchanged from a month ago, on an unadjusted basis.  Fifty-four percent reported higher average prices, up an unadjusted six points.

Seasonally adjusted, a net 44 percent plan price hikes, up 1 point.

“The incidence of price hikes on Main Street is clearly on the rise as owners pass on rising labor and operating costs to their customers,” the NFIB said in its report. “The Fed will start worrying about inflation as Main Street continues to raise selling prices, pushing the inflation measures up,” the NFIB said.

Finding qualified workers also remains a challenge for businesses.

“Small businesses optimism is rising as the economy opens up, yet a record number of employers continue to report that there are few or no qualified applicants for open positions,” said NFIB Chief Economist Bill Dunkelberg. “Owners are also having a hard time keeping their inventory stocks up with strong sales and supply chain problems.”

Forty-six percent of owners reported job openings that could not be filled, a decrease of two points from May but still historically high and above the 48-historical average of 22%. Small employers have plans to fill open positions, job creation plans over the next three months rose to a net 28%, up one point.

Report: U.S. Hotel Industry Faces Closures, Ongoing Depression in Post Pandemic Era

ADRIAN DENNIS/AFP via Getty Images

PENNY STARR

13 Jul 202145

3:22

A report published by the American Hotel and Lodging Association reveals that despite an uptick in travel in the post coronavirus pandemic era, the hotel industry across the country faces closures and drastic reductions in revenue.

“The road to recovery for the hotel industry is long with 21 of the top 25 U.S. hotel markets remaining in a depression or recession,” a news release announcing the report said. “The new data shows urban hotels are still in a ‘depression’ cycle while the overall U.S. hotel industry remains in a ‘recession.’”

The release shared some of the significant statistics from the report:

Urban markets, which rely heavily on business from events and group meetings, continue to face a severe financial crisis as they have been disproportionately impacted by the pandemic. Urban hotels were down 52% in room revenue in May compared to May 2019. For example, New York City, which remains in a depression, has seen one-third of its hotel rooms (42,030 rooms) wiped out by the COVID-19 pandemic, with nearly 200 hotels closing in the city.

The recent uptick in leisure travel for summer is encouraging for the hotel industry, but business and group travel, the industry’s largest source of revenue, will take significantly longer to recover. Business travel is down and not expected to return to 2019 levels until at least 2023 or 2024. Major events, conventions and business meetings have also already been canceled or postponed until at least 2022.

The report details the U.S. cities hardest hit by pandemic lockdowns, with San Francisco at the top of the list with a 70 percent drop in “revenue per available room.”

The other cities in the depression category are Boston (67 percent); Washington, DC (65 percent); New York City (62 percent); Chicago (59 percent); Seattle (56 percent); and Minneapolis (51 percent).

All of these cities are led by Democrat mayors who imposed harsh lockdown protocols during the pandemic.

“While some industries are starting to rebound as COVID-19 restrictions ease across the country, the U.S. hotel industry is still in a recession, with the hardest hit markets in a depression,” Chip Rogers, president and CEO of AHLA, said. “While many other hard-hit industries have received targeted federal relief, the hotel industry has not.”

Rogers lobbied for Congress to pass the Save Hotel Jobs Act “so hotels in the hardest hit regions, especially urban markets, can retain and rehire employees until travel demand, especially business travel, comes back to pre-pandemic levels.”

Local media outlet KRON reported that in San Francisco in 2019 the average room rate at the Handlery Union Square, Hotel Hillary was $255 a night. Now it is $135 a night and the occupancy rate has dropped 60 percent.

Follow Penny Starr on Twitter or send news tips to pstarr@breitbart.com.

All of this is, if we can be permitted to use Biden’s catchphrase, “malarkey.” Harris has already proven herself as a trusted servant of the interests of the rich and powerful at the expense of the working class. 

The Wall Street Journal wrote last week that Wall Street financers had breathed a “sigh of relief” at Biden’s pick of Harris. Industry publication American Banker noted that her steadiest stream of campaign funding has come from financial industry professionals and their most trusted law firms.

Joe Biden, the corrupt, unaccomplished 47-year career politician, with a

reputation of having been a proud segregationist, an unabashed plagiarist and

 liar, a resolute tale-teller, and a serial flip-flopper, is pretending to head up a

radical social-democratic ticket for President of the United States that includes

as his running mate the ambitious, disagreeable junior senator from California:

Kamala Harris 

Wall Street Investment Banks Shatter Expectations While American Workers Suffer with Biden Inflation

STRF/STAR MAX/IPx via AP

WENDELL HUSEBØ

13 Jul 202144

3:01

The elite wall street investment banks smashed earning expectations on Tuesday, while the American worker struggles with rising consumer good prices due to President Joe Biden’s inflation.

JPMorgan Chase posted “second-quarter earnings of $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv,” CNBC reported.

Goldman Sachs also “reported second-quarter earnings of $15.02 per share, topping analysts’ expectation of $10.24 earnings per share,” CNBC continued, “The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.”

The investment banks shattering expectations comes as the American worker is shouldering inflation at a 13 year-high.

The Labor Department on Tuesday released its Consumer Price Index for June, showing  that prices rose 0.9 percent in the past month. The price hike in June marked the largest 1-month increase since June 2008.

Breitbart News also reported the the consensus forecast was for a 5.0 percent gain when measured against June of 2020, which would have been tied with May, the hottest reading since skyrocketing energy prices pushed up the index in the fall of 2008.

Inflation has outrun expectations for three months in a row. The June monthly figure is the highest since June 2008, when prices increased 1 percent in a single month.

Sarah House, senior economist for Wells Fargo’s corporate and investment bank, said “inflation pressures remain more acute than appreciated and are going to be with us for a longer period.”

“Bringing back the bad memories of the 1970s, inflation has reached a three-decade high,” the CNBC continued. “The past two years’ ’emergency’ spending packages, bond buy-backs, and printed money are repeating the worst mistakes of the Carter era.”

Since President Joe Biden has taken office, prices for consumer goods have dramatically risen:

• Used Cars (29 percent)
• Strawberries (26 percent)
• Blueberries (15 percent)
• Baguette (11 percent)
• Furnature (9 percent)
• Olives (6 percent)
• Takeout/fast food (6 percent)
• Tampons (5 percent)
• Flowers/plants (5 percent)
• Dog treats (4 percent)
• Rose wine (3 percent)
• Computers (2 percent)
• Craft beer (2 percent)
• Milk (1.6 percent)
• Bread (1.3 percent)

KAMALA HARRIS IS A SOCIOPATH. SHE LOVES TO STAGER HERSELF, AS DOES BRIBES SUCKING BIDEN, AS A 'POPULIST' HOWEVER HER TRUE RECORD IS THAT OF SERVING THE BIGGEST CRIMINALS LIVING ON WALL STREET WHO HAVE LONG HAD A RELATIONSHIPS WITH JOE BIDEN.

KAMALA HARRIS   -  I CAN CON THEM! I'M A LAWYER, IT'S WHAT I HAVE DONE MY ENTIRE BRIBES SUCKING LEGAL CAREER!

https://kamala-harris-sociopath.blogspot.com/2020/09/kamala-harrs-i-can-con-them-im-lawyer.html

All of this is, if we can be permitted to use Biden’s catchphrase, “malarkey.” Harris has already proven herself as a trusted servant of the interests of the rich and powerful at the expense of the working class. The Wall Street Journal wrote last week that Wall Street financers had breathed a “sigh of relief” at Biden’s pick of Harris. Industry publication American Banker noted that her steadiest stream of campaign funding has come from financial industry professionals and their most trusted law firms.

There is something fitting in the selection of Harris to co-lead the Democrats’ ticket. The response of the Democrats to the mass multi-racial and multi-ethnic protests against police violence that erupted earlier this year was to divert them into the politics of racial division, using the reactionary and false claim that what was involved was a conflict between “white America” and “black America,” rather than a conflict between the working class and capitalism. 

THE LOOTING OF AMERICA

KAMALA HARRIS AND HER GOLDMAN SACHS BANKSTER STEVEN MNUCHIN

A tidy corrupt partnership

https://kamala-harris-sociopath.blogspot.com/2020/10/the-looting-of-america-kamala-harris.html

She also declined to prosecute OneWest, run by now-Treasury Secretary Steven Mnuchin from 2009-2015, after her own prosecutors said they discovered over a thousand violations of foreclosure law committed by the bank. (OneWest donated $6,500 to Harris' attorney general campaign in 2011, and Mnuchin himself donated $2,000 to her Senate campaign in 2016.)

 Park Avenue: Money, Power and the American Dream⎜WHY POVERTY?⎜(Documentary)

 

https://www.youtube.com/watch?v=6niWzomA_So&list=WL&index=19

 The close collaboration between the US Treasury, the Federal Reserve and the multi-billion dollar asset management firm Blackrock in devising the March 2020 rescue operation for Wall Street has been revealed in an article published in the New York Times yesterday.

World’s largest asset management firm was “front and center” of Fed’s Wall Street bailout

Nick Beams

The close collaboration between the US Treasury, the Federal Reserve and the multi-billion dollar asset management firm Blackrock in devising the March 2020 rescue operation for Wall Street has been revealed in an article published in the New York Times yesterday.

According to the article, Larry Fink, the CEO of Blackrock, the world’s biggest asset management firm, was “in frequent touch” with US Treasury Secretary Steven Mnuchin and Fed chair Jerome Powell “in the days before and after many of the Fed’s emergency programs were announced in late March.”

The extent of the collaboration is revealed in new emails obtain by the newspaper together with information that has been previously made public.

In one newly obtained email, Fink refers to planning for the rescue measures as “the project” that he and the Fed were “working on together.”

As the article notes, “America’s top economic officials were in constant contact with a Wall Street executive whose firm stood to benefit financially from the rescue,” showing “how intertwined Blackrock has become with the federal government.”

Blackrock’s close collaboration with the Fed and Treasury came at a crucial point in the development of a crisis in financial markets which began with the onset of the pandemic in March and fears in corporate circles over the response in the working class amid walkouts by workers insisting that safety measures be out in place.

The Fed responded to the initial turbulence in the markets by cutting interest rates. But these measures proved to be insufficient and the potential for a major meltdown in the markets emerged in the week ending March 20 when the $21 trillion US Treasury bond market—the bedrock of the US and global financial system—froze.

Instead of providing a “safe haven” for investors it moved to the centre of the crisis as Treasuries were sold off and no buyers could be found as the sell-off extended to all areas of the financial system.

Faced with a disaster when the markets re-opened, Mnuchin, Powell and Fink were engaged in a series of discussions over the weekend of March 21–22 to devise a rescue package. According to the Times report, Mnuchin spoke to Fink five times over the two days, more than anyone else, other than Powell with whom he spoke nine times.

One of the most significant features of the rescue measures announced on Monday March 23 was the decision by the Fed, for the first time ever, to buy corporate bonds which, as the Times noted, “were becoming nearly impossible to sell as investors sprinted to convert their holdings to cash.”

Blackrock had already closely collaborated with the Fed developing its response to the 2008 financial crisis was thereby set to play a key role in the March intervention.

The article pointed out that, while Blackrock signed a non-disclosure agreement on March 22 restricting officials from sharing information about the upcoming measures, the way in which the rescue package was devised “mattered to Blackrock.”

The decision of the Fed to buy corporate bonds and provide an underpinning for the market was significant and involved two key areas of Blackrock’s operations. One of the ways it makes profit is by managing money for clients charging a preset fee. But assets under management were contracting as investors went for cash and its business model was under threat.

Blackrock is also a major player in the short-term debt markets which were coming “under intense stress” as investors moved their holdings to cash.

Electronic Traded Funds (ETFs), which track market indexes but which trade like a stock, were also severely impacted.

In the words of the Times article: “Corporate bonds were difficult to trade and near impossible to issue in mid-March 2020. Prices on some high-grade corporate ETFs, including one of Blackrock’s, were out of whack relative to the value of the underlying assets.”

As Gregg Gelenzis, associate director for economic policy at the Center for American Progress told the Times: “This was the first time that ETFs came under stress in a really systemic way.”

In the rescue package the Fed committed itself to buying already existing debt as well as new bonds and also decided it would purchase ETFs with the result that the “bond market and fund recovery was nearly instant.”

As the Times article notes, while practically all of Wall Street benefited from the Fed’s intervention, and other financial firms were “consulted” apart from Blackrock “no other company was as front and center.”

The closeness of the relationship between Blackrock and the financial and economic arms of the state, the US Treasury and the Fed, were highlighted in a comment by William Birdthistle, of the Chicago-Kent College of Law and the author of a book on funds, cited in the article.

He said Blackrock was “about as close to a government arm as you can be, without being the Federal Reserve.”

The Fed makes every effort to cover up that relationship in order to try to preserve the fiction that it is not beholden to Wall Street and operates as an independent public authority concerned above all with the state of the economy and the welfare of the population.

The Times article recalled a news conference in July 2020 in which Powell was asked about the discussions with Fink.

“I can’t recall exactly what those conversations were,” he said, “but they would have been about what he is seeing in the market and things like that.

He said there were not “very many” conversations and that the Blackrock chief was “typically trying to make sure that we are getting good service from the company he founded the leads.”

Powell’s claim that, in the midst of the most significant crisis since the meltdown of 2008—with a potential to go even further, as the freeze in the Treasury market showed—he could not recall those conversations simply does not pass muster.

The value of every crisis, it has been rightly said, is that it reveals the real relations that are obscured and covered over in “normal” times.

And that is the case here. The economic arms of the capitalist state are not some independent authority but function every day in the interests of the corporate and financial oligarchy, servicing its needs and interests above all else.

  

SHE WANTS HIM DEAD! HIS PROXIMITY TO THE TRUTH THAT COULD PUT CLINTON IN PRISON IS A SERIOUS THREAT.

 

https://hillaryclinton-whitecollarcriminal.blogspot.com/2020/11/the-crimes-of-hillary-clinton-still-on.html

 

“If the Constitution did not forbid cruel and unusual punishment, the sentence I would like to see imposed would place both Bill and Hillary Clinton in the same 8-by-12 cell.”    ROBERT ARVAY – AMERICAN THINKER com

 

Obama’s Democratic Party administration launched a

furious salvo of denunciations, with then Vice President Joe

Biden calling Assange a “high-tech terrorist” and Hilary

Clinton reportedly asking, “Can’t we just drone this guy?”

This opened the floodgates to a torrent of demands from

Republicans and the right-wing media for his assassination.

 

Clinton Foundation Put On Watch

 

List Of Suspicious ‘Charities’

 

http://mexicanoccupation.blogspot.com/2015/04/charity-navigator-clinton-foundation.html

 

"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy

 

GRIFTER AND PHONY CHARITY FOUNDATION FRAUDSTER HILLARY CLINTON’S LONG SERVICE TO AMERICA’S MOST EVIL BANKSTERS

 

https://mexicanoccupation.blogspot.com/2019/08/the-democrat-party-grifter-and-pay-to.html

 

The judge found these releases, together with the publication of Clinton’s secret speeches to Wall Street banks, in which she pledged to be their representative, were “matters of the highest public concern.” They “allowed the American electorate to look behind the curtain of one of the two major political parties in the United States during a presidential election.”

 

 

“Clinton also failed to mention how he and Hillary cashed in after his presidential tenure to make themselves multimillionaires, in part by taking tens of millions in speaking fees from Wall Street bankers.”

 

Welcome to the Biden-Harris administration: where politics is a family business, and business is booming

https://freebeacon.com/satire/clinton-project-nepotism/?utm_source=actengage&utm_campaign=FreedomMail&utm_medium=email

The Clinton Project Presents: ‘Nepotism’

Welcome to the Biden-Harris administration: where politics is a family business, and business is booming

Andrew Stiles and Thaleigha Rampersad - FEBRUARY 10, 2021 5:00 PM

The Clinton Project is a coalition of disgruntled Democrats, vulture capitalists, Saudi princes, disgraced journalists, and ex-cons who are dedicated to raising as much money as possible for the nominal purpose of defeating President Joe Biden at the ballot box.

The group's most recent ad takes aim at Biden's family members, as well as the family of Vice President Kamala Harris. Hunter Biden, for example, continues to thrive despite the ongoing federal investigation into his shady business ventures in China and Ukraine. He recently moved into a $5.4 million mansion in Venice, Calif., where he is pursuing a career as an artist while "working to unwind" his 10 percent stake in a Chinese investment firm.

The president's younger brother, Frank Biden, has been touting his White House connections in his (presumably well-compensated) role as a "non-attorney senior adviser" to a Florida law firm. The president's son-in-law, Howard Krein, has ties to a software firm seeking government contracts to assist in the distribution of the COVID-19 vaccine.

Kamala, who got her start in politics by dating Willie Brown, the former speaker of the California state assembly, must be proud of the success her relatives have enjoyed since Biden chose her as his running mate in 2020.

Her niece, Meena Harris, wrote two bestselling children's books inspired by her famous aunty and launched a #Resistance-themed clothing line that sells Ruth Bader Ginsburg bathing suits for $55. Biden's lawyers reportedly warned Meena, who recently partnered with Beats by Dre on a special collection of headphones, about continuing to profit from Kamala's image. LOL!

Kamala's 21-year-old stepdaughter, Ella Emhoff, scored a modeling contract with IMG Models after she wore a weird coat to the inauguration ceremony. Though many cheered Emhoff as an "unconventional" model, others argued that there wasn't anything particularly revolutionary about being a rich, white, tall, thin, female Brooklyn "artist" with tattoos and armpit hair.

Nevertheless, when your daddy is president or your "Momala" is the vice president, things just seem to work out in your favor. Just ask Hunter, who'd probably tell you that politics is a family business.

Welcome to the Biden-Harris administration, where business is booming.

 

THE RAPID RISE AND EVEN QUICKER FALL OF A

SOCIOPATH BRIBES SUCKING LAWYER   -  WE'RE

TALKING ABOUT KAMALA HARRIS

https://kamala-harris-sociopath.blogspot.com/2020/10/the-rapid-rise-and-even-quicker-fall-of.html

“The effrontery to all of us to put an obviously ailing and incoherent 

Joe Biden for the top spot and for the V.P., Kamala Harris, who 

couldn't even carry her own state in the primaries, indicates their lack of

judgment.”  ALAN BERGSTEIN

“However, I would like to encourage my fellow Democrats to approach Senator Harris with a healthy dose of skepticism. As a prosecutor and California State Attorney General, Harris has engaged in blatantly unethical behavior for her profession and embraced positions that actively hurt her constituents.”

                                                             JESSER HOROWITZ

Joe Biden, the corrupt, unaccomplished 47-year career politician, with a

reputation of having been a proud segregationist, an unabashed plagiarist and

 liar, a resolute tale-teller, and a serial flip-flopper, is pretending to head up a

radical social-democratic ticket for President of the United States that includes

as his running mate the ambitious, disagreeable junior senator from California:

Kamala Harris 

SHE’S CORRUPT, AMORAL, BRIBES SUCKING BUT ISN’T THAT WHY BIDEN WANTED HER TO BE V.P?

SHE’S A SOCIOPATH LAWYER!

https://kamala-harris-sociopath.blogspot.com/2020/09/kamala-harris-amoral-corrupt-bribes.html

Tucker Carlson of Fox News calls Harris a corrupt and dangerous fraud who sees laws and powers only as means to punish her enemies, pursue her agenda, and get elected. 

FOR LAWYER KAMALA HARRIS, THE LAWS SIMPLY DO NOT FACTOR INTO ANYTHING. SHE’S IN IT TO MAKE MONEY.

SO IS HER LAWYER HUSBAND!

https://mexicanoccupation.blogspot.com/2020/11/lawyer-kamala-harris-as-vice-president.html

9. Why did your office decline to investigate the health supplement fraud cases involving companies your husband’s law firm represented? Did you, as California’s attorney general, ever purposefully decline investigating or prosecuting clients of your husband’s law firm?

Sen. Kamala Harris (D-CA) and her husband, attorney Douglas Emhoff, gave 1.1% of their income to charity in 2019, tax records show.

Harris reported giving $35,390 to charity, while she and her husband earned $3,095,950 in taxable income.

The best-case scenario is that she’s a progressive who repeatedly violated her own principles so that she could promote her career. In the worst-case scenario, she’s just another corrupt, rotten, regressive prosecutor.

                                                           JESSER HOROWITZ