Wednesday 25 January 2017

FAIRGROUND BUSKER PRESIDENT

SERIAL BANKRUPT - LOSING OTHER PEOPLE'S MONEY.
According to The Making of  Donald Trump, by David Cay Johnston, who has followed Trump's career since teenage, Donald J Trump is not the super-intelligent "smart" businessman he claims to be. 

Trump had a huge income from birth as a Trust Fund Babe, an Ivy League upbringing, then inherited a large fortune, mostly rented flats in New York, courtesy of his dad, Fred Trump, and his canny Scottish mother, Mary Anne Mac'Cleod, who was for a time the CEO of the Trump properties. 

Donald's grandfather, also Fred, Drumpf, a German migrant, established the property empire, after World War One, after an up  and down career as a grocery-store-brothel-hotel owner. He amassed enough to set up his son, Fred, as a builder of homes in New York, who expanded rapidly after World War 2  by applying US government grants to building New York apartments, which he retained ownership of and rented out. 

 NARCISSISTIC PERSONALITY DISORDER - IS TRUMP TO A TEE.

Being landlords in New York, probably made it necessary to do business with the New York Mafia and Union bosses. This became Donald's business background. Donald's lawyer and "mentor" for 20 years was Roy Cohn, chief lawyer to the Mafia.

Donald's induction into the family business was as a rent collector. When his mother and father died he inherited from $100 to $200 million in well established New York housing - a boost to any young entrepreneur. Inflation of 10 times in New York prices, would put him in the billionaire class, $1,000 million, without any effort or risk. Prices have risen from $8 per square foot in 1940 to $1,200 per square foot in 2000 - multiplying New York house values by 150. "Thanks Grandpa, Thanks Mum & Dad. And a big Thanks to the US taxpayer's post war housing grants." 

It is no wonder that brash Donald felt he could take risks that other builders would avoid. Most of Donald's flashy and risky ventures have failed, particularly his casinos and leisure clubs. 

Until he publishes his Tax-Returns and audited accounts - nobody knows how much he has borrowed against his apparently successful Trump hotels. Has he hung onto his inheritance - or is he in hock to the Russian Mafia?

Not paying any tax, ever, is probably not due to  him being "smart" - it is more likely due to him losing millions on property speculations that wise men would avoid. He is probably a dumb-ass, as they say in America; a rich, spoilt, wilful Trust Fund Babe.
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