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Wed May 8, 2019, 08:09 PM

Trump Bragged Nonstop About His Success While Quietly Hemorrhaging Millions

Trump Bragged Nonstop About His Success While Quietly Hemorrhaging Millions
“Even if the world goes to hell in a handbasket, I won’t lose a penny,” he boasted the year his losses had mounted to $90.3 million.

https://www.huffpost.com/entry/trump-wealth-brags_n_5cd30f06e4b0a7dffcd04f88?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuaHVmZnBvc3QuY29tLw&guce_referrer_sig=AQAAAFTJ3Mpx86X9Uz_GOnyTKTDdp9kNq7SS6N2apbxfhSbqEZnG88n3_6OmybFfbMO2T13pJBv5lgOhMGRcQIeNqfrsuiBLVZVU6SyF4_X1sC9JXKs2_UMIqdbLedG-27C_vyjY-S6iTV6Rn2CdIiikhgI4lXPLf7IQBdbMB5kU4LVu

By Lydia O’Connor

President Donald Trump was perhaps the single greatest loser of money from 1985 to 1994, a bombshell New York Times investigation into his tax returns found Tuesday. But despite but the $1.17 billion he bled out on failed casinos, hotels and retail space during that time, he spent the decade telling Americans — the people who would one day elect him as their president — that he was a resounding success.

“There is no one my age who has accomplished more,” he boasted to Newsweek for a cover story in 1987, a year his business losses compounded to $4.5 million.

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Though Trump has long characterized himself as being self-made and claimed he only received $1 million from his father to launch his empire, investigations into his early earnings show he actually received about $413 million in 2018 dollars from his father, who repeatedly deployed financial safety nets to his son while helping him engage in lucrative tax schemes.

The same year Trump gave that interview to Newsweek, he released “Trump: The Art Of The Deal,” a memoir and business advice book that was integral in launching his career in the public eye. He began working on the book with a co-author in 1985. That same year, Trump’s business losses had mounted to $51.4 million.

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He was drowning in $90.3 million in losses by that year, and the worst was still yet to come. Trump’s financial losses reached stunning lows in 1990, when his business losses mounted to $400.3 million.

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“The working man likes me because he knows I worked hard and didn’t inherit what I’ve built,” Trump said, stretching the truth about his own success. “Hey, I made it myself; I have a right to do what I want with it.”

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By 1991, when his losses over the years totaled $664.3 million, Trump appeared to be struggling to keep up the charade as critics worried his Trump Palace project, a 55-story condominium building he was constructing in Manhattan, would flounder like his other failed projects.

He responded, the Times found, by buying out advertisements calling the project “the most financially secure condominium on the market today” and promising that “smart money says there has never been a better time.”

Snip

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Reply Trump Bragged Nonstop About His Success While Quietly Hemorrhaging Millions (Original post)
bobsal May 2019 OP
batcat May 2019 #1
New Deal Democrat May 2019 #3
batcat May 2019 #4
TM999 May 2019 #9
Muddling Through May 2019 #7
DillyDilly500 May 2019 #2
batcat May 2019 #10
oflguy May 2019 #14
specs May 2019 #5
357blackhawk May 2019 #6
D26-15 May 2019 #8
Charlie Mike May 2019 #11
Muddling Through May 2019 #12
oflguy May 2019 #13

Response to bobsal (Original post)

Wed May 8, 2019, 08:13 PM

1. So what?

I don’t care that he lost a lot of money decades ago. I don’t really care how much money he has or doesn’t have today.

I care how he is doing as our president and in my opinion he is doing a great job. Far better than Obama did or Hillary would have.

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Response to batcat (Reply #1)

Wed May 8, 2019, 08:31 PM

3. So he is a cheat and an epic liar.

Maybe I'm old fashioned, but such clear moral deficiency still means something to me.

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Response to New Deal Democrat (Reply #3)

Wed May 8, 2019, 08:33 PM

4. Did you support Hillary? (n/t)

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Response to batcat (Reply #4)

Thu May 9, 2019, 01:11 AM

9. Ask the Marxist if he voted for Bill

even after his wife "cheating" in Whitewater and cattle futures.

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Response to New Deal Democrat (Reply #3)

Wed May 8, 2019, 09:28 PM

7. The party that lined up to fellate Bubba Clinton

has no business worrying about moral deficiency.

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Response to bobsal (Original post)

Wed May 8, 2019, 08:23 PM

2. He also wished for another recession before deciding

to run for prez so he could buy foreclosed properties for pennies on the dollar and get richer.

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Response to DillyDilly500 (Reply #2)

Thu May 9, 2019, 02:26 AM

10. I have heard it said that it takes money to make money. ...

That might not always be true but it seems logical that it helps to have enough money to play with if you wish to make lots more. I can’t say for sure as I was never rich.

You could accumulate a fortune buying real estate at rock bottom prices during a recession. Timing is everything.




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Response to batcat (Reply #10)

Thu May 9, 2019, 10:28 AM

14. "I feel like I win when I lose"

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Response to bobsal (Original post)

Wed May 8, 2019, 08:39 PM

5. lol @ the racist npc for not understanding accounting

 

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Response to bobsal (Original post)

Wed May 8, 2019, 09:26 PM

6. If you ever watched the opening of The Apprentice,

read Art of the Deal, or caught an interview with Ivanka when he said the homeless guy had more money than they did (which her nine year old mind didn't get), you would have already known this.

Self made business people are high risk types, which Trump is. The difference is the ability to learn and overcome, which Trump did. Meanwhile, he is being attacked by people who are conformists.

All the NYT and CNN is doing is distracting everyone from the DoJ IG exposing Obama as being worse than Nixon.

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Response to bobsal (Original post)

Wed May 8, 2019, 10:23 PM

8. Damn... Hemorrhaged all that money, and is STILL your president.

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Response to bobsal (Original post)

Thu May 9, 2019, 06:21 AM

11. Where do you stand on the issue of being convicted for issuing worthless checks?

Does that ping your moral outrage meter?

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Response to bobsal (Original post)

Thu May 9, 2019, 06:24 AM

12. Poor Lefty, you clearly never watched the introduction to "The Apprentice".

Poor, poor Lefty.

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Response to bobsal (Original post)

Thu May 9, 2019, 10:19 AM

13. More ignorance on the business front

way to go bob

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