Trump celebrates Brexit vote: ‘When the pound goes down, more people are coming to Turnberry.'

[LiberalFighter]

Washington Post
Trump demonstrates that he doesn't understand the market.

When the pound goes down as in the case of Brexit it also means that the retirement accounts and investment accounts go down. Which means less cash in the pockets of people. So why would more people go to his Turnberry Golf Course?

Who does he expect to go to his Turnberry Golf Course? The British? Scottish? Don't they both still use the pound as their currency? If so, most everyone in England would not see the benefit of the pound going down and it would not be a better deal for them to golf. Right???

Even then why would people from other countries go to his golf course when they are also impacted financially.

[The Velveteen Ocelot]

1. Maybe these guys will visit:

[Peacetrain]

2. ^^^^^^^^^^^^^^^^^^^^^^

Ah Yep!!

[MohRokTah]

3. Trump demonstrated a decided lack of understanding.

The way the pound has dropped, if it does not rebound immediately the result will be inflation against the pound and his golf course gets NOTHING!

The gains for those who are not using the pound are temporary. I am a tabletop wargamer and most of the best miniatures, especially the historical miniatures, are produced by UK companies. US wargamers are buying up miniatures fast, like this weekenn, because of the exchange rate because we know that nexxxt week will result in either a rebound for the pound, or immediate price increases by the producers.

[PJMcK]

4. Foreigners make up the majority of Mr. Trump's customers

The luxury resorts that Trump International manages in the UK are visited by golfers from around the world. Locals don't tend to play on these overly expensive courses. These are very high end facilities and the fees for the hotels and the golf courses are exorbitant. For example, a fast search indicates that rooms at the hotel go for GBP £359 - GBP £859 per night, (US$ 492 - US$ 1,177). The golf greens fees are in the range of £275 (US$ 377) plus caddy and tips. Because they are historic and famous, wealthy patrons from Asia, the Americas and elsewhere will pay the luxury fees for the bragging rights that they've played Turnberry.

Donald Trump knows that if the economy in the UK goes south, his foreign customers will come because of the relative strength of their own currencies. Fundamentally, he's a dick.

[treestar]

5. Yep

thanks for that explanation. Trump only sees his own self interest.

[no_hypocrisy]

6. Nobody's getting a bargain by going to Turnberry with a weakened pound.

Trump has already raised the prices to make up for the loss of value.