Blog/2016 U.S. Presidential Election
Posted Jun 19, 2015 by Martin Armstrong
He says he will jawbone Ford Motor Co/ to not build a plant in Mexico and that he will use some form of tariff to “fix” the trade balance between China and the U.S.
ANSWER: Trade is not our problem, debt is. The Donald knows all about debt since his corporations have filed for bankruptcy twice. Donald Trump has become infamous for his TV show yelling, “You’re fired!” every week on primetime television. Yet, after Trump’s casino operations filed bankruptcy he remains the chairman, and one must wonder why he is not “fired”. Trump will remain as chairman and CEO and continue to collect a $2 million dollar paycheck. So, Trump is clever and filed for bankruptcy twice, yet stays in control. He knows how to protect his personal finances. In both instances of Trump’s corporations filing for bankruptcy, Trump personally has not. Hence, when his casino fell into about a billion dollars in debt, the corporation filed for Chapter 11 bankruptcy. Trump knows how to reduce his debt through bankruptcy, making his creditors take haircuts. It is called restructuring.
Now, if he wanted to run on a platform that he will restructure the debt, as he is an expert on how to default on his creditors, then perhaps we should listen to his proposal. But so far, he offers nothing new, just the same old nonsense. His announcement to run for president had a big audience; they cheered because they were actors he paid only $50 to show up. You would think he should have paid at least $100 so they could have dinner.
One upside: he could save the government money, since he probably would still fly around in his own Trump Air Force One, which he decked out to rival Obama. As the story goes, Obama flew to Palm Beach to play golf with Tiger Woods and parked in Trump’s spot. Trump landed and told his pilot to move right up behind Obama’s plane. Secret Service called and warned if he moves one inch further, they would open fire.