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Donald Trump Tells Fox News We're Going To Have A Depression & It's Bush's Legacy

  1. Just watched his interview by Greta Van Susterin...

    ...I watch Faux News out of curiosity from time to time.

    I find it interesting that Trump is telling 'ole Greta that there simply is no money circulating from the banks to businesses or consumers, and that Bush has created an almost inevitable depression-to-come.

    I'll try to post a video link when I find it.
     
  2. If only the President were that powerful, voter turnout would be asymptotic.
     
  3. Not that I disagree with the call, but Donald Trump is the poster boy for the housing bubble. How many times has that guy overbuilt, overborrowed and gone bankrupt?
     
  4. Oh, forgot to mention - Trump said that the Iraq War was one of the biggest reasons for the problems we're now experiencing, and that Republicans will be in the wildnerness for a long, long time.

    It's all common sense. He's right.
     
  5. is trump looking for a job?
     
  6. That and Affirmative Action Lending initiated by the DemoCraps in '99... was the seed to the current housing/credit crisis and coming depression...
     
  7. Pay very close attention when someone like Trump tries to lead your thoughts in a direction (distract) that is way too obvious. Trump knows how the REAL world works, but to keep "his game" alive he plays ball as needed. In private Trump will talk about the scam of 9/11, but he will never come out in the mainstream media and tell it how it really is. Remember, compared to most he has a LOT to lose.....cash over convictions.
     
  8. Trump wouldn't get any celebrity attention if he thought any different. He would be thrown into the fiscal and conservative category which would be horrible for his popularity.
     
  9. doesn't matter. he has stood up and came back. thats what counts, not how or how many times you fall.
     


  10. It is outright journalistic malpratice that this fact has gone underreported by the mainstream media. Anyone who has some understanding of the seperation of powers clearly knows who the
    obvious culprits are here: the US Senate Banking and finance committee, and the US house banking & finance comittee.
     
  11. Did he mention he was going to change his Trump University website to reflect the changing economy?
     
  12. If I borrow money to buy stocks and those stocks go down and I go bankrupt I can't really blame the market for my downfall. It would be my judgment. Markets go up and go down.

    It was not just the subprime but because companies like Lehman found it lucrative to enter into credit default swaps and sell(and resell) as many as possible

    When the market started to go down and people started to walk away from upside down mortgages in numbers unforseen credit default swap market imploded.

    And all of it is 100% Bank and Wall st. fault. Stop blaming Barney Frank, Pelosi or Clinton.
     
  13. Those were run by Republicans from 1995 through 2006, with the exception of six months in 2001.
     
  14. Bush was calling for undocumented home buyers to get their piece of the American Pie too, so you need to throw his RINO name in there too.

    After Jan 20th, I'm not gonna worry about puttin' gas in my car or paying my mortgage...
     
  15. You, my friend are exactly right! Majority of Americans are totally ignorant when it comes to your point. The Legislative branch of our government is where the buck should stop. They make the Laws, Spend our money, and are supposed to provide oversight!
     
  16. How old is that guy now? I mean wasn't he around in the '80's?

    Is that a toupee [hairpiece] he's sporting these days?
     
  17. There are a lot of people in prison....for doing far less than what Bush/Cheney have done to the US and the World.....

    Where is US justice or is justice just another US joke ? These people are going to walk....and they get to fail upwards.....living in nice houses....getting paid lots more money....simply because of what ? It ain't justice pal.....It is because of this alone that justice is just for those that are selected for it....

    .....................................................................

    Where does the economic blame lie ?

    One could picture the issue this way.....

    Where would the economy be today...if subprime did not
    exist ?

    Would the economy be a lot better off ?

    .................................................................

    Secondly ....a developed country is a country that respects
    property rights....and that has a fantastic credit system...
    for the government....business...and individuals....
    This is the main difference between a developed....developing.... or third world country....and is the exact reason that the US advanced as it did from 1980 onwards.....

    And here again....if subprime was the reason....do not blame everything else in sorts of witch hunts....The system itself was not the fault....subprime was.....

    ..............................................................................
     
  18. Well i suppose Trump the douchemister should give free enrollment to his millionaire wealth univerisity and get all of us " making tons of money and having fun doing it"""!!!..........He deserves to be in the scammers hall of fame/\shame
     
  19. the above is a very wise post.

    "don't cry for me argentina"

    for the numerous many who suffer from the sin of envy it does not matter whether it is Soros or Rogers or Trump these people fall and bounce higher.

    http://www.nypost.com/seven/11042008/news/worldnews/trump_turns_scottish_sand_into_gold_136833.htm

    $10 million into $300 million for those who wish to skip reading article
     
  20. Yes it does matter as far as his opinion is concerned. Sure, he always bounces back stronger, but he is often wrong.

    He is a a RE guy period.
     
  21. Well that is kinda easy when you have the government bailing you out.
     
  22. LOL

    The world works quite different from how you think.
     
  23. There was a pepto bismol commercial at the end, agita anyone?:cool:
     

  24. I rarely like to agree with the Donald but on this im 100% in agreement
     
  25. I agree with Trump that we are going to have a depression, but is it really all Bush's fault?

    I can't stand Bush and despise all politicians equally, but is it Bush's fault that England, Spain, Australia, New Zealand and many other countries have had massive housing bubbles that are now collapsing and taking whole economies with them?

    Doesn't it really all come down to the debt-financed artificial-demand that we have all witnessed? The culprits being banks and central banks?
     

  26. I lay the fault where the fault is due, and clearly much of the fault
    is with Barney Frank, Christopher Dodd, Byron Dorgan, Kent Conrad. These guys are the Constitutionaly elected officers who oversee the nations banking and finance industry. As recently as
    2 years ago Frank insisted that the mortage and banking industry was sound-he stated"I see no problems going forward here in terms of solvency. These assertions that we are on the cusp of a wave of defaults are overblown."
    Luckily, we now have Cspan so we can go back and review the
    conductors who oversaw the trainwreck.
     
  27. you just don't have the talent to get yourself to that point.
     
  28. Or maybe I just don't have my daddy giving me a million dollars at 18 years old, his bank connections & his RE industry connections. I don't know, maybe that has something to do with it. Cause I'm pretty sure I can put together some ultra luxurious real estate projects which can't even cover the interest with their revenue.
     
  29. Well, Trump is half right. There is indeed a depression underway, but Bush et al are not solely responsible for screwing the economy, any more than Hussein will be solely responsible for dumbing down personal standards, the average American language or morality. Also credit Slick Willy for NAFTA.
     
  30. No, it's disinformation, and you fall for it like the sheeple that you are.
    Iraq is a symptom, not the problem. Bush Jr. is just a puppet, he does not even understand or know half the stuff his admin did. Why do you think he was on vacation so much.
     
  31. Bush's father signed NAFTA into play.
     
  32. Depression is just not possible. New economies like China, India, Brazil, Russia, the former eastern block nations, South America and even Africa are mostly CONSUMER oriented machines now.

    Consumption is encouraged, so it not US ONLY which is driving the demand in the world. Does anyone know that African stock market returns were pretty much highest on average in last few years compared with any other region.

    Oil prices are also down by 50% or more. So this sub prime mess can cause recession for couple of years but depression is taking the possibilities toooooo far. :D
     
  33. Incorrect. Bush Sr was only part of the group that wrote NAFTA. Slick Willy, alone, signed it into law.
     
  34. Does anyone recall Ross Perot's words... "That giant sucking sound you hear will be jobs leaving America and bound for Mexico"...

    And now of course, they've also gone to Asia.
     

  35. So said the Federal Reserve in 1928, one year before the Great Depression began.

    Correct, however, you cannot do business with people who don't have any disposable income. Think about it.

    Sorry guy, I trust history to repeat more than I trust anyone's opinion. And you haven't provided any reason why history cannot repeat itself in this case.
     
  36. There were people with more money, better connections who never had the vision of building luxury apts at the time he built Trump Tower. He created "branding" in the real estate biz.
     
  37. even with 1 million gift in your pocket you could not replicate his success. could you duplicate his personality?
     
  38. Trumps reputation is in shreds in NYC, he has always been a cheat, untrustworthy, greedy beyond words. He has had to go to Hong Kong to line up financing for his projects. I know a litigator at a very large Manhattan firm who had many stories of representing clients who got fucked by Trump. He embodies the worst of the worst in American business. The only surprise is that no one has bumped him off yet.
     
  39. Trump is like most of Elite America. Well educated, moneyed, connected, articulate and 25pts too shy in I.Q. to grasp emerging trends lurking under the surface.

    If in Trump's view it was so clear that Bush, Iraq, oil prices and whatever additional phantom forces in play were detrimental to growth then why was Trump expanding his development empire. Trump projects were "the high is in" sentiment indicator unto themselves. If you drive down Collins Avenue from Sunny Isle to Miami Beach you pass square feet measured in literally the millions of over priced, under subscribed Trump condomania.

    Bubbles have a fairly simple cause. Productivity gains spur wealth. Wealth then enables credit expansion. As the economic cycle rises liquidity begins to outpace viable enterprises. Cash abundant investors chase crappier and crappier risk adjusted returns. As the inevitable failures occur the express elevator on the way up becomes the express elevator on the way down.

    How did Bernanke, Greenspan, King etal attempt to deal with the market's proper adjustments? By throwing even MORE gasoline into the fire. Lunacy.
     
  40. Pundits like Trump go on TV to push their agenda. The statements he made are to create new opportunities for him or to help advance his current projects. Fear mongering is a powerful tool, though usually indirect in its usage.
     
  41. If in Trump's view it was so clear that Bush, Iraq, oil prices and whatever additional phantom forces in play were detrimental to growth then why was Trump expanding his development empire

    Bcause of this simple fact i.e give any and most developers,builders credit and its OPM they don't care what the economic enviorment is they will build. I know. Its not about brains ,its balls
    cheers
    john
    ps(other peoples money):D
     
  42. Why was Trump expanding his development empire?

    Builders build and bakers bake. It is all they know how to do and it is what they do.
     
  43. You do not know what you are talking about. Plenty of names in the NYC RE business that are known to those who need to know. Trump is the name for the ignorant masses.

    Those who really make moves try to avoid the spotlight, it's a distraction.
     
  44. You're right, I would avoid the bankruptcy part. And would at least make sure my projects could handle the debt service.


    No, I have a sense of integrity, honor and morality. Also, I would stick to being myself, rather than having to put up a facade.

    P.S. Don't forget to wipe your chin when you're done hugging Trump's nuts.
     
  45. http://online.wsj.com/article/SB122523704293478077.html

    Same thing in Chicago- about3 months ago, he hadn't paid his contractors for the prior 120 days. He couldn't get bonded to build in Chicago if he wanted to.

    To anyone who goes into business with this charlatan or takes advice from him, you deserve what you get...
     
  46. These are working relationships. You're always going to have a few snags. The important relationships are the tenants and the buyers.
     
  47. LOL

    That was funny.:D
     
  48. "These days, Mr. Trump adds his name to dozens of real-estate projects and other business ventures around the world, often through licensing agreements and small equity investments"

    I bet most people don't know that he makes most of his money from licensing and TV. His huge debt and failures come from real estate, casinos and airline companies. He does not disclose this on his Trump University fraud site.
     
  49. Gee, maybe cause Trump is full of sh*t? Just like when he claims a new project as "his development" while the fact is that he no longer gets any equity in RE projects and has not for a very long time.


    No, your man crush knows no bounds. Some us of simply know the real story instead of the sleaze self promotion facade being sold to the sheeple.
     
  50. 10 million was small enough and potentially profitable enoughfor him to go it alone
     
  51. You're a proven moron, he does not get equity nor does he deploy capital. He just brands it, as long as there are suckers ready to finance him. Not like I would expect a tabloid rag like NY Post to know that.

    Get back on your knees, I think Trump needs another release.
     
  52. that is not the way article is written. it sounds as if he went it alone. you cannot assume that every deal is a branded deal with partners. a small deal is likely to be an equity deal with his contribution. it doesn't matter if he borrowed the money especially if the property is not serving as collateral.
     
  53. I was always under the impression he advocated using other people's money for every project. It wouldn't surprise me if he more or less "backstopped" much of what he did. He probably received a fee for being collateral of last resort and never put up a dime of his own money, got a piece of equity and fees in the millions.
     

  54. http://www.infoplease.com/ipa/A0104566.html

    Clinton signed it - true. He was batter up, and smacked it out of the park after George H.W. Bush tossed the softball.

    Clinton gave China Most Favored Nation Trading Status, all by his lonesome.

    Good work, Bush Sr. and Willy!
     
  55. Do not know about NAFTA, but affirmative action sub prime lending sure did hit the US Financial house below the belt.

    Slick Willy basically rode the internet economic boom and ended his term with a high. Another nonsense he did was to not treat Iraq with more balanced and humane approach. Resulting killing of roughly 1.5M civilians ended up in events like 9-11 and the trillions blown up on the Global War on Terrorism.

    Not to forget that Slick Willy also benefitted from the tax hikes triggered by Bush Sr. and was able to end his term with budgets balanced and looking really SLICK. :cool: :D
     
  56. Everything that big-eared, pie-charted Ross Perot told the American People has come true (regarding NAFTA and Chinese trade) - he was the only friggin' guy who told the American People the way it was.
     
  57. I don't dispute your point. this project because of its small initial capital 10m for entire project and outsized possible return suggests a possible exception.
     
  58. I agree. He probably did this one on his own.
     
  59. There were others in the alternative media speaking the same thing and amplifying it, but of course the media didn't want it out, snce there is no profit in it. The wealthy don't need a conspiracy, they just do what is in their best interest. Same result.

    And of course mainstream Americans didn't listen to it and decried it as protectionist. Well fuck it, I have been a protectionist in practice since 1966.
     
  60. that f-king bitch hillary was asked a question in the debates, whether perot was right about nafta

    she just gave that smug witch laugh, and dismissed the question with 'all i remember was a bunch of charts - ha ha'

    those charts clearly spelled out a warning, and a choice about debt and globalism

    not heeded, people now wonder how bad the damage will be, and how much will be recoverable

    the word 'depression' had never been used in my lifetime to describle the immidiate future

    a curse on all those who dismissed what perot was saying
     
  61. I was only 9 at the time, but I remember my moderately conservative father looking me directly in the eyes when Ross Perot was buying prime time television, and explaining how free trade was going to ultimately decimate the middle class, and telling me "see that man, son?...He's the only person who is actually telling the truth."

    That was 1988. Ross Perot ran as an independent, and received 19% of the vote - the most any independent candidate for POTUS has ever garnered.
     
  62. It was actually 1992........

    No wonder you voted for Joe Biden. At least you didn't say "I saw Perot on streaming video.......":D :p
     
  63. He got 19% alright. I wonder how it would have turned out if he hadn't pulled out of the race when the Dems threatened to ruin his daughter's wedding? He might have got 50% more than that, which would have made him a serious contender.
     
  64. 1992?

    No wonder I'm walking into walls lately. I need some sleep.
     
  65. Why not put your partisan politics aside for once and ALSO acknowledge the "Commodity Futures Modernization Act of 2000" which allowed for the creation of $35 TRILLION in credit default swaps trading "unregulated" without any oversight whatsoever, AND the trading of power and energy contracts ( ie. ICE for WTI trading under the good folks in Dubai and London ) over electronic platforms and under ZERO oversight or jurisdiction of the CFTC?

    We can all thank the likes of House Reps, Ewing and Bliley for that along with their counterparts in the Senate such as Dick Lugar, Peter Fitzgerald, Phil "Enron" Gramm, and Chuck Hagel.

    http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

    Absolutely brilliant!!!
     
  66. Trump is a clown...his Vegas property is a bust and from what I have seen Chicago will be his next bust...good ideas in bad times will catch up with!
     
  67. One item over looked by the mainstream media is this:

    Bush/Cheney had armed free lance regulators that would take people out of apartments, put on a bus and taken to a new subdivision.

    They were FORCED to buy at least one, if not two, homes. Most of these poor innocence victims tried to run but were caught, brought back to the sales office. Witnesses said it was horrible. The builders would force them to accept free appliances, and in some outlandish cases, even free big screen TV.

    These poor vicims were forced to move out of their old apartment and actually live in the new house. The inhumanity of man, LOL


    Ross Perot is/was a nut job....Al Gore prevailed in a debate with him....fabricated story of daughter's wedding to save embarrasment of leaving race....conspiracy nut....last seen waving at traffic off I-20 holding up pie charts....

    Without Perot, Bush senior is re-elected...Clinton is Pres of Tyson Chicken....who would have been elected in 1996???

    It is a world economy....US needed to have NAFTA....auto industry is an example of ignoring facts and reality...


    SteveD
     
  68. Maybe you didn't read the article, but all of these relationships are going bad. He can't sell the condo units and he can't move the retail. The one thing this project has going for it is that is really is a beautiful building...not at all cheesy or gaudy like most of his other projects. There will be buyers coming forward, but his days building in Chicago are finished. That is a guarantee.
     
  69. Actually most of these projects, Trump just attaches his name. Developers will pay him for the right to call it the "Trump Towers" or "Trump Condos" or whatever. He gets the money and takes none of the risk and does none of the work. Pretty smart business model.

    Trump sucks at operating businesses, one of his casino operations went bust *during the boom*. But he is great at branding and marketing himself.
     
  70. Excellent points.
     
  71. How so?

    Are stocks regulated?
     
  72. This is why he is so pissed......... http://www.elitetrader.com/vb/showthread.php?s=&threadid=144460&highlight=trumped
     
  73. We are in the 50/50% for either a recession or depression.

    The markets will signal long before. If the SP 500 breaks to the 500 level, INDU to 7000/6900, could force the chance in favor of the depression.

    Nevertheless, if you do not have "Chips"stacked up, assets that can survive a depression, you are fubared. If you are in debt, car, home, credit cards and you live beyond your means, your screwed either way.

    Unemployment will reach far above 10% IMHO. We are at 6.5 now. 09 will see the biggest layoff numbers in the history of the US.
     
  74. Depression, no doubt. No recession has ever gained this momentum and NOT turned into depression. Not one. And with the Fed's little bag of tricks all but used up, my shorts are in.

    Unemployment is already at 13%, if you measure true numbers before Clinton toyed with them to make them look better than reality. I'm no gloomer, bring it, I make money either way.
     

  75. If dereg was bad, then reg must be good.
    Oops, fnm and fre were regulated. By Barney Frank and co.

    The question is, why would anyone think that letting Barney Frank and co regulate wall street credit swaps would work out any better than their regulation of fnm?

    Since the requirement of fnm to guarantee lousy loans was at the heart of the whole thing, I think it not only bears prime responsibility, but more like 90% of the responsibility. The other 10% would go to wall street not hedging or reserving for their swaps properly, cheating mortgage loan originators, and bs credit rating agencies that rated this crap as creditworthy. But, NO REQUIREMENT FOR AFFIRMATIVE ACTION LOANS, NO CRISIS.

    If these loans would not have been made, and if the ratings agencies had not deemed them creditworthy, then credit default swaps would not have stunk up wall street.