Why He is the Right Person to Lead the Effort to Eradicate San Diego’s Hotelier Cabal
In two critical areas of civic concern, Mullen has proven an ability to see dangerous situations that others have not, and a willingness to sound the alarm:
- Global Economic Collapse 2007-2009 – Mullen is best known as one of the few people in the world (along with former Federal Reserve Chairman Paul Volcker) to issue on-the-record public warnings of an impending global economic collapse. In published writings, Mullen accurately predicted what became the 2007 – 2009 economic collapse, and subsequent Great Recession. In fact, he was the first to coin the term “Financial Tsunami” to describe the crisis he foresaw in the article “The Coming Financial Tsunami” published in 2005. This term took on a life of its own in 2008 when CNBC and Pimco bond-king Bill Gross began repeatedly using the term, followed by Lehman Brothers CEO Richard Fuld publicly blaming the Lehman bankruptcy on the “Financial Tsunami”. Soon thereafter, the likes of former Federal Reserve Chairman Alan Greenspan, real estate mogul Sam Zell, and the Chinese government were all using the term to describe the economic collapse. Though most laughed or called Mullen an alarmist when these articles were first published, by 2007 no one was laughing anymore. Read for yourself:
- The Coming Financial Tsunami – The San Diego Union Tribune – June 9, 2005
- Welcome to the Bubble Economy – The San Diego Union Tribune –February 17, 2006 (co-authored with Tom Mullen)
- While Our Brightest Economists Failed, “Nobody” George Mullen Warned Us – Pasadena Sub Rosa – December 7, 2008
- Welcome to the Depression (Time to Realize Our Economic Plight) – The San Diego Union Tribune – March 6, 2009
- Reigniting America’s Economic Engine – Townhall.com – January 19, 2016
- San Diego’s 2015 Centennial Celebration – A year before the collapse of San Diego’s 2015 Centennial Celebration, Mullen authored a series of articles warning that the Centennial was heading for disaster, and that the culprit was the Hotelier Cabal that had hijacked the event. Disturbingly, San Diego’s Mayor and City Council completely ignored these public warnings, as well as their oversight responsibilities over the vast amounts of taxpayer monies involved. Within a year, the event collapsed in scandal and controversy, $3 – $5 million of taxpayer money had gone missing, and there was not one thing to show for any of it. Mullen’s warnings turned out to be right on the money.
- More on the Dark Side of Balboa Park (Mullen quoted at length 1/4 down the page) – San Diego Free Press – February 25, 2014
- San Diego Hoteliers Meet Their Waterloo – Voice of San Diego – March 5, 2013
- Welcome to the Hotelier’s Cabal – Voice of San Diego – March 19, 2013
- Crashing the Hotelier’s Cabal – Voice of San Diego – April 9, 2013
- It’s Time to Dissolve the Tourism Authority – Voice of San Diego – October 21, 2013
In both instances, Mullen saw disturbing signs others failed to see, and showed a unique willingness to swim against the tide and speak out – even when highly unpopular to do so. Clearly he is not someone who cries wolf or fears standing up to powerful people. As such, San Diego’s City Council and media should be digging deep into the Hotelier Cabal before it bites our city any further.