Wednesday, January 20, 2021

Bankruptcy for Idiots

If Trump holdings were a public company, you might want to short the stock. The hotel and resort business is already suffering due to the pandemic. In addition, with major corporations all pulling out of dealings with Trump, it’s unlikely that the Trump name will be a big draw to the few wealthy individuals who are still traveling. The kind of Republicans who have enough money to stay at the Trump International are not the base you see screaming at MAGA rallies. In fact Trump hotels and other properties are more likely to be in the pocket books of the kind of old style conservatives, who will have no need for a Trump hotel when they can easily afford the Four Seasons or the Mandarin Oriental. Come 2023 Deutsche Bank will be knocking on Trump’s door for a $330 million dollar loan. “Away go troubles down the drain,” go the lyrics of the Roto Rooter commercial and the same can be said for Mr. Trump’s empire. Imagine the foreclosed Mar-a-Lago being taken over by some Russian or better yet Ukrainian oligarch. But what will the Trumps do? No one who has any financial sense will want to do business with a shyster who doesn’t even pay the legal bills of devoted servants like Rudy Giuliani. What will be the fate of Ivanka and Jared, of Eric and Donald Jr. Will they have to join the workforce? Will Melania model while Donald hits the road in his trusty golf cart? The Trumps may have always been morally bankrupt, but soon they'll likely be chasing their own tails--facing financial bankruptcy as well.

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