General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsChris Meloni strikes again against Cheeto
Link to tweet
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He is responding to Trumps advisor
This is the presidents vision, said Peter Navarro, Trumps ascendant trade adviser. My function, really, as an economist is to try to provide the underlying analytics that confirm his intuition. And his intuition is always right in these matters bloom.bg/2Fv7yEm
Translation: my job is to provide economic Mumbo jumbo speak to make The Baby Kings whims seem legitimate. Its called job security economics.
Achilleaze
(15,543 posts)One cannot keep track...
aka republican Draft-Dodger-in-Chief
dixiegrrrrl
(60,010 posts)I have read several good books about him.
His pattern of operation is much like the mob's back in the day.
He bought the casinos, in the sense of using loans, not with his own money. He NEVER uses his own money, he brags.
But he did not pay back the loans. Every time one came due, he got a bigger loan, from another bank if necessary,
which added to the time he had to pay it off.
Instead, he used the money to live on.
(This is exactly what Jared does, btw)
The casinos are a great way to launder money,
Plus he stiffed a lot of his suppliers, forcing them to sue him.
when the banks finally put their foot down on no more loans, he does a bankruptcy, and walks away from the debt.
Same with the hotels/condos.
Which explains why there are so many bankruptcies, more than usual for any business.
The only downside was that he could not get more loans after awhile, the banks refused, except Deutsche Bank, which has twice been caught money laundering.
GeorgeGist
(25,320 posts)for the Hugest bankruptcy E V E R.
lastlib
(23,222 posts)...which is part of the reason he picked Dwump.