jimjam wrote:At Trump’s Castle casino, where an $18.4 million bond payment was due in December 1990. Fred Trump dispatched a trusted bookkeeper to Atlantic City with checks to buy $3.5 million in casino chips without placing a bet. With this ruse — an illegal loan under New Jersey gaming laws, resulting in a $65,000 civil penalty — Donald Trump narrowly avoided defaulting on his bonds.
What a sweetheart. Don't you wish you had a father like that?
jimjam wrote:Fred Trump spent $15.5 million to buy a 7.5 percent stake in Trump Palace, his son’s condo tower rising on the Upper East Side of Manhattan. Four years later, tax returns and financial statements show, Fred Trump sold that stake for just $10,000. The buyer, other documents indicate, was his son.
A truly loving father.
jimjam wrote:Here's the man who gave us Donald. I can tell just by lookin at him that he would never tell a lie. Looks like they're giving each other awards .
Perhaps Donald is giving his father a "father of the year" award.
jimjam wrote:Donald's destruction to the American economy will, in the long run, be the most damaging aspect of his "legacy". His short term strategy has been rather obvious. Flood the economy with borrowed cash. Trade long term stability/growth for a short term high. Not unlike a drug addict, this will feel good for awhile and present the illusion of success for Donald. Very similar to his economic strategies in his private life. Not unlike his private ventures and the addict's high the party WILL end, guaranteed.
Of course it will. We always have recessions about every 8-10 years. We're due for one now, and the Fed is raising rates to ensure it happens soon.
jimjam wrote:Don't forget a trade war with our allies and a unnecessary military hardware buildup.
China is not an ally. As for the military, if you haven't noticed, we've been fighting wars pretty much non-stop since 2001. With 18 years of non-stop war, it does make sense to invest in the military.
jimjam wrote:Businessmen prefer stability and predictableness ……. hardly Trump characteristics.
Bankers do. Traders don't. Instability is how options traders make money.
jimjam wrote:If they sense a lack of stability and predictableness it is on to plan B …… something like gold bars.
Or writing options.
Stormsmith wrote:I feel the most damaging aspect will be his utter lack of concern for the environment which will have world wide impact. Air knows no borders.
All the more reason to stop buying products from China--the largest industrial polluter on the planet.
jimjam wrote:Yes, I agree and stand corrected. His effort to lower or remove protections to the environment so that big corporations' profits increase at the expense of Mother Nature will leave a devastated planet for our children and grandchildren to deal with.
You and Stormsmith should go and swim the backstroke in the Yangtze River in the environmental paradise of our "ally," China.
Zagadka wrote:The sea level could raise a meter in a day and they would still not believe in the human impact on the environment (or alternatively, are so short sighted and ignorant that they balance their income against a sustainable environment).
We don't have to worry about sea level rising. Barack Obama put a stop to that just by becoming president, just like he won the Nobel Peace Prize, because he hadn't started the wars in Libya, Syria, and Ukraine yet.
MistyTiger wrote:Wow, the stock market is trending down.
From cnbc:
Dow tumbles over 500 points, bringing 2-day losses to more than 1,300 points
Investors fled riskier assets like stocks and loaded up on traditional safe havens like bonds and gold.The Dow fell as much as 698.97 points at its lows of the day, after dropping 831 points on Wednesday."It's a momentum correction, not a portfolio correction," says Joe Terranova, chief market strategist at Virtus Investment Partners. "While we have a bias to believe 2008 could happen again, I don't think this is the case."
He is bad for the stock market.
You're too late by a week. I already told you I sold out, because rates are rising and the media is going to spook the markets with the prospect that the Democrats might win. It will go up after the elections if the Democrats lose. Although, if the Fed continues raising rates, it could put a damper on any rallies.
Stormsmith wrote:Agreed. It's mind blowing how many monster storms your enduring (and the overwhelming number of forest fires we've endured) to not seek to find a reason.
Fire season and hurricane season come to mind.
Trump is right: the Fed is deliberately popping his beautiful stock bubbleThe two great central banks of the Western world - the US Federal Reserve and the European Central Bank - are both dialing down stimulus rapidly even though the world economy is slowing.
Say hello to more right wing governments in Europe... It's going to hurt them a lot more than it is going to hurt us.
"We have put together the most extensive and inclusive voter fraud organization in the history of American politics."
-- Joe Biden