Trump's Poor. And Putin knows it

[spinbaby]

Trump is not only, “not a billionaire,” he carries so much debt that, relative to his hard assets, he’s poor, especially with respect to cash flow through cash intensive investments such as resorts, etc, where one has to pay large monthly bills to keep the lights on and the greens, well — green. In any given quarter, Trump faces situations where he doesn’t have the cash to keep up “appearances” and must borrow cash, at whatever rate, to maintain the cloak of worth, I mean wealth ...I mean, the wealth that makes up his self-worth.

I’m not a CPA. I’m a lawyer, but not one with any business experience. This is truly a layman’s “speculation” and experts here can tell me that I’m wildly wrong - which would be good. I look forward to learning. But, let’s start putting some real easy facts all in one place, ones we all agree don’t even need citation at this point.

1. We know that he promised to “self-fund” his campaign, and yet not only did he not “self-fund” it, he charged HUGE fees to his campaign to use Trump property. We also know that he never had anywhere near enough campaign money. From the beginning, the “Billionaire” had the “poorest” campaign.

2. He promised to donate all that money made in one evening to veterans groups, and had not done so when checked-in on, months later. (This is part of the larger pattern, a “Foundation” that he never paid money into, and hadn’t paid a lot of real money out of, one under criminal investigation. Most true billionaires have real foundations with real people who really help various causes because it helps business. It’s more polite to be worth billions if one can point to the appearance of “doing good” and yet Trump can’t even do that).

More at:

http://m.dailykos.com/stories/2016/12/31/1615891/-Trump-s-Poor-And-Putin-knows-it?detail=facebook

[Wounded Bear]

1. I'm assuming that Putin holds a ton of Trump's paper...

Trump acts toward Putin like a sharecropper to his landlord. Needy, but basically afraid of getting kicked off his farm.

[LuckyLib]

2. The Russian oligarchy, Russian banks, and Putin himself have everything they need on

tRump. They are holding the cards. They invested in him for access purposes to wealthy NYC, never expecting he'd be granted the presidency. They hit the jackpot. We are in for quite a ride.

[Johnathan146]

3. Why should I trust somebody who is not a CPA and has no business experience

To sum up his article "CPA's say this, and despite having no business experience, I know better than they do, so trust me"

Couldn't daily Kos actually find somebody qualified to write an article? At least the author was honest, so let me sum up the article using his words.


"I’m speculating"

[dumbcat]

4. He also didn't seem to grok

the concept of net worth.

[pnwmom]

12. I think he does understand net worth. He's saying that if DT was forced to liquify immediately,

his net worth would be underwater.

[Hekate]

9. I trust my gut, and I'm not a CPA. That con-artist floats his money around to keep up appearances

He's what my late father in law called a luftmensch, and his fortune is luftgescheft. Just air, and hot air at that.

However, for an expert opinion I did ask a financial systems analyst with an MBA. He said I was accurate to quote his dad in that manner.

[pnwmom]

11. +1000. n/t

[uponit7771]

17. +1

[Yo_Mama_Been_Loggin]

23. Also known as

all hat no cattle.

[kaitcat47]

29. I wish that German would get as much play as Luegenpresse did earlier.

I mean, if they want the Original German, let's give it to them.

[Hekate]

32. A-yup, though in this case it's probably Yiddish

[groundloop]

52. Here's an article in Time from August.... their investigating largely agrees with the DKOs article

http://time.com/4433880/donald-trump-ties-to-russia/


The truth, as several columnists and reporters have painstakingly shown since the first hack of a Clinton-affiliated group took place in late May or early June, is that several of Trump’s businesses outside of Russia are entangled with Russian financiers inside Putin’s circle.

So, yes, it’s true that Trump has failed to land a business venture inside Russia. But the real truth is that, as major banks in America stopped lending him money following his many bankruptcies, the Trump organization was forced to seek financing from non-traditional institutions. Several had direct ties to Russian financial interests in ways that have raised eyebrows. What’s more, several of Trump’s senior advisors have business ties to Russia or its satellite politicians.

“The Trump-Russia links beneath the surface are even more extensive,” Max Boot wrote in the Los Angeles Times. “Trump has sought and received funding from Russian investors for his business ventures, especially after most American banks stopped lending to him following his multiple bankruptcies.”




It's too damned bad that a few more undecided voters in swing states din't read this before voting.

[INdemo]

53. It would not have mad any difference

they would have said "We dont believe it .Cause for no reason what so ever they just hated Hillary because that is what the Republican machine has been selling for 20 years...Hate Hillary

[dsharp88]

5. EXACTLY!

[bdamomma]

6. that could be why

he is not submitting his tax returns.

[Hekate]

10. That is actually a major clue, afaiac.

[Historic NY]

21. When he was able to get NY STAR exemption it told me enough

its not available to those over 500k. https://www.tax.ny.gov/pit/property/star/eligibility.htm

You have to submit proof.

[red dog 1]

39. BINGO!!

That is what many think is the main reason the bastard is hiding his tax returns.

[PatSeg]

44. Yes

I heard a number of people over the past few months speculate that was why he wasn't releasing his tax returns. Meanwhile, all this money-grubbing for relatively small sums of money (from a billionaire's point of view) is rather revealing. The man has a cash flow problem, along with huge debt.

[SHRED]

7. A con and a fraud

[milestogo]

8. And he invited a woman on a dinner date without bringing cash,

and when she paid the tab he never paid her back.

He who is faithless over little is faithless over much.

[Snarkoleptic]

13. At the grass roots level, it's called being a wage/debt slave.

At Trump's level, it's call being compromised by foreign entities who "have your nuts".

[sarah FAILIN]

14. I did TONS of reading before the election

One article was talking about a project Trump was working on regularly running out of money. As soon as they ran out and told the boys, an infusion from a Russian bank would appear. I can't remember more specifics because at the time I was sure there was no possible way he could be elected, but the article is out there somewhere. I am positive he is in deep debt to Russia. That's why he doesn't have any interest in the world seeing his tax returns and unraveling the knots.




Too bad some patriotic IRS employee near retirement doesn't leak his files. You know.. audits can get confusing.

[HurricaneWarning]

19. I remember reading something like that.

Who knew that we should have been keeping a file? I never thought he would be president and am still hoping that I will wake up from this bad dream.

[Auntie Bush]

24. I remember reading or hearing that Putin/ Russia bailed him out and saved

him from bankruptcy. He borrowed billions from Russia. Should they be displeased with him they could demand their money and he couldn't pay them. Donald could look at Bankruptcy again!

[HurricaneWarning]

26. He's too stupid to know that he's selling out the whole country.

I'm sure he's up to his eyeballs in debt to the Russians. I wish the Congress would take a slight interest. Just a little!

[awoke_in_2003]

54. No, he doesn't care. nt

[Horse with no Name]

41. bankrupcty isn't an option for Russian bankers

I honestly think he reneged and this was what putin wanted.

[sarah FAILIN]

57. Apparently it is an option..

I just heard on TYT I think that Deutche Bank is restucturing his debt to them.. You know that is just a fancy word for bankruptcy.

Deutche Bank has a LOT of Russian money invested in it, along with Soros. They are making it so that his loans are no longer secured against his own money from what I understand.

[tclambert]

35. i keep hoping I'll wake up from this bad dream and find:

1) Donald keeps crying about how unfair everything was that made him lose by 100 electoral votes.

2) Melania has filed for divorce, citing multiple infidelities.

3) Trump filed for personal bankruptcy (chapter 7), as all his businesses are over their heads in debt and he has essentially no income.

4) Indictments start coming out from multiple states for various frauds and felonies with which he's getting charged.

And lastly, 5) Bernie Sanders is appointing people like Robert Reich and Elizabeth Warren to important cabinet positions.

[erronis]

49. Oh, I have dreams like that too. But the con-man couldn't care

Melania files for divorce? Good riddance of a wife that is no longer prima.

Trump files for personal bankruptcy? Another example of how smart he is about shafting everyone else.

Indictments? No problem - there are Beautiful, Beautiful places I tell you in Russia. Lots of friends - more friends than you will ever have.

Bernie? Robert Reich? Elizabeth Warren? Don't make us laugh. There is still the apparatus in place to make them "go away". (Used to be called the Democratic National Committee.) [Whoops - perhaps I transgressed on the DU policies and procedures - "don't say nothing bad about our babies."

[calimary]

56. I did a fair amount of reading then, myself.

I remember something about this. Josh Marshall of Talking Points Memo, and Charlie Pierce of Esquire and other people. Might have been on HuffPo, might have been from Raw Story, but there were articles and comments galore about how the Russians are WAY into him, financially. They do indeed prop up his projects from over there because he's had so many bankruptcies that American banks won't lend to him anymore. Charles Pierce has written that the whole many-tentacled Russian affair should be the ONE question that keeps getting asked all the way to the election, and then after the election, he updated, writing that the same affair should be the ONE question that keeps getting asked all the way to the inauguration.

[Crash2Parties]

15. Trump shows why Capitalism & Democracy cannot be left to their own devices

When mixed together, regulation is a must.

[eniwetok]

30. what are you talking about??????

The EC was designed to regulate the popular vote... with the intent of magnifying the power of whites in slave states.

It was the EC that handed Trump the presidency after he was resoundingly REJECTED by the People.

Maybe the DEregulation of democracy is what's needed.

Capitalism? Since it's amoral, always needs to be regulated.

[backscatter712]

16. It explains why Trump has become Putin's rentboy. n/t

[YOHABLO]

33. Ew and double EW!

[flamingdem]

36. This is accurate n/t

[EffieBlack]

18. It's interesting that the press refers to him as a "billionaire"- solely on his claim that he is

even though everyone knows he's a degenerate liar.

He's offered absolutely no proof that he's worth billions - or even high millions, yet the press dutifully and without question adopted the title he gave himself.

[YOHABLO]

34. Well the IRS knows the truth. Probably the CIA and the Pres know as well.

[Cha]

20. dump is a lying fuck and if he says it's sunny.. you can

damn well know it's raining shit.

Thank you for this, spinbaby.

[brer cat]

25. I'm going to remember that, Cha.

With trump it is always "raining shit."

[Cha]

28. These are for #TeamDemocracy, brer..

[spooky3]

42. "Hallelujah, it's raining ... oh, wait..."

[awoke_in_2003]

55. Ear worm of the day. nt

[spooky3]

58. :-) n/t

[leanforward]

22. What you said I can affirm.

Based on my life's experience and background, he is poor. Your comments make sense to me. He is conning a lot of people. The Russians have him by the . . . . There is a quirk in the Constitution called the electoral College. Whatchamacallit's lack of disclosure is my reason to not trust him. He is where he is in order for his brand make money and come out of debt. His past bankruptcies are precursor of his later business entanglements. And, now we are entangled.

[The_Casual_Observer]

27. Apparently those remote Scottish golf courses are a boondoggle much like the

casinos. I have no doubt the whole thing including this president shit is a big scam.

[DonCoquixote]

31. let us not forget

Let us not forget something, Donald Trump had a hard time getting loans for Western banks because he was a bad credit risk. The guy would go through bankruptcies as if it was some sort of Olympic ceremony to be held every few years. Eventually the only institutions that were capable of loaning him the vast amounts he needed to go ahead sustain his lifestyle were the Russian ones.

This is why when people talk about keeping the state out of banking and other private sectors they will reveal their weakness. Since most banks in Russia are either officially owned by the state, or simply very clear about doing what Vladimir says when he says it, it is ludicrous to think that they would not have a very clear picture of what Trump's finances actually are. Is it any accident but the guy does not want to go ahead and show his tax return? Even George W Bush showed his tax return.

If the electoral college managed to go ahead and earn it's worth it would very easily looked at the fact that not only did Trump stand to gain a lot of money by adjusting a more friendly policy towards Russians, it was very likely that he was already in serious debt to Moscow. Totally independent of any sort of hacking charge, it was more than enough to deny Donald Trump on the basis that he would've started his administration already compromised to a foreign power. Of course we know that whatever the official reasons for the existence of the electoral college, the real reasons are shown in 10,000 nasty letters to the editor, namely the distain and distrust that role America has for urban America. Granted, it is not like having some sort of brake against for compromising all of our electoral process is not wanted. After all, as wealthy as Russia is, they do not have the wealth to throw around like let's say China, or for that matter the middle eastern states. Let's face it, if the Saudi's wanted to go ahead and fund some sort of campaign, they could easily do so. One of the disasters we might have to think about in the mid-21st century is not the idea that Russia might have somehow put in a very compromised person in the presidency, it is the idea that many will want to imitate that exact same feat, they will do so because there are thousand people like Donald Trump, people who talk very big but have very little to back their words up.

[erronis]

50. So what do the Putinesqua's have on the US congress?

(And my pardons to the real ladies of the night that gave this wonderful sauce its zest!_

How many of the current US legislature have paper trails and photographic evidence of wrongdoing that would remove them from office and put them in jail - if only we had a justice system that wasn't also already entangled.

Democracy only works in an environment where everyone plays fair, or at least mostly fair. Fairness can only happen where there is transparency in how actions are taken.

Fairness can not happen where special interests can dictate results. Special interests can put their thumbs on the scale in many ways: cash/contributions, ability to spread knowledge/lies about embarrassing events, familial relationships, threats of harm to family.

I don't read a lot of spy novels and don't subscribe to conspiracy theories except the well-founded ones (in my mind), but I do think that the opportunities are very ripe for manipulation of our government by external forces.

And I think the external forces that have gained control of the US include monied and foreign interests. Look at the Koch's as being in the same level of evil as the neo-Soviets.

[Dustlawyer]

37. I would add that you hear a lot about Trump licensing his name for other

people's properties. If he was so rich wouldn't he be building only his own properties? You add up all of the various individual pieces of information, Trump U, Steaks, previous bankruptcies, stiffing Veteran's charities, stiffing contractors, licensing deals instead of his own deals, his reality TV show (Trump change), and it appears he is chasing nickels. He has burned so many bridges it doesn't appear he had anyone to turn to except to do a deal with Putin.

He had all of these Russian connections in his campaign and even nominates Putin buddy Rex Tillerson (Exxon Mobil). It is all circumstantial and will apparently stay that way since he will be the first President not to release his taxes. If he was really rich we wouldn't be able to shut him up about his taxes!

[applegrove]

38. Maybe that is how Putin did it. He used oligarch money to lure

Last edited Mon Jan 2, 2017, 03:57 PM - Edit history (1)

Trump into businesses then bankrupted him on paper, but hid it. Maybe that is what Putin has on Trump? Then again it would not take bankruptcy to scare Trump into being a puppet. All it would take would be making him more or less of a billionaire.

[red dog 1]

40. K&R

[japple]

43. I have thought this all along. Anyone who crows about how many billions and

Last edited Mon Jan 2, 2017, 06:35 PM - Edit history (1)

billions they have doesn't have anywhere near that. I just wonder if his family and "advisors" know the truth.


Edit to correct grammatical error.

[PatSeg]

46. Mark Cuban

who is worth over $3 billion, has frequently expressed his doubt about Trump's wealth.

Finally, because all Trump-era politics must come down to a hand-measuring contest, Cuban cited the candidate’s recent F.E.C. filings to proclaim that he, not Trump, was the richer of the two. “Before all the Trumpians jump on me on who has more money, the reason I know is when you file your federal election campaign reports, you have to list all your cash and liquid securities and bonds,” Cuban argued. “You have to list them one by one. So we know without any question that as of May 27, Donald doesn’t have more than $165 million in cash and securities and bonds. And trust me, I’ve got a lot of more than that in cash, securities, and bonds.”

http://www.vanityfair.com/news/2016/06/mark-cuban-donald-trump-wealth

I have my doubts that it is even that much money.

[CrispyQ]

47. If he can avoid getting impeached, he'll leave the office a billionaire.

And his kids will be sitting pretty, too.

[PatSeg]

48. That's a big "if"

Also, he is a horrible businessman. He's impulsive and reckless. Meanwhile, he's not even trying to be discreet. He honestly seems to think he can do whatever he wants and there will be no consequences.

[libdem4life]

45. I've "heard" that he really didn't expect to win, which was why there was such lack of pre-planning

when he did win. Now it makes sense. He wanted the national coverage to bring in the name recognition/cash/funding he needed to stay afloat. Everything upthread makes a lot of sense. Maybe a Constitutional crisis...no one knows what happens when a fool/conman/"businessman" is nominated and elected.

No wonder the media is shy. Who wants to be the first MSM to stick their toe in this pile of mierde. I've noticed there is some walking back, apologies, mea culpas floating around the media lately. I've a feeling Megyn Kelly is not the last to "find a new calling".

[ymetca]

51. I keep thinking

that Putin has something far, far worse. Like maybe video of him having sex with an underage girl, which we know is something he has done before. That would be the classic KGB method of ensuring the target is well under control.

[mitty14u2]

59. TRUMP CHANGE: IS DONALD TRUMP BROKE?

This ambiguity plays into Trump’s hands: he loves a playing field where there is no difference between reality and fantasy, where the majestic paneled board room is really a stage set, where he is Making America Great by manufacturing clothes in Bangladesh, where he insults Mexicans and then sues a Spanish television network for not showing the Miss USA pageant, a paean to female innocence brought to us by a womanizer on his third marriage. This is Trump-territory: a nowhere land in which he threatens to sue anyone who disparages the size of an empire that he refuses to disclose.

You will never figure out Trump’s worth by looking at numbers. He’s far too slick for that, he can hide the ball forever.

So let’s put aside the numbers. Instead, let’s look at his FEC submission as a psychological document, a testament, a confession.

Here we are faced with a paradox: Trump does not speak, act, or behave like a normal billionaire, nor even like a renegade or eccentric billionaire. He behaves like someone who is desperately broke.

http://www.thealphapages.com/content/trump-change-is-donald-trump-broke

Trump lied over the reason to not disclose his taxes because he is being audited is a great tell, trump is slippery and so is his wealth, very well could have slipped down the drain long ago, just playing off of his wits and lies, the Trump/Madoff scheme!

[spinbaby]

60. Great article

Thanks!