Trump has touted his acumen for restructuring four of his companies under bankruptcy laws. When Trump Hotels & Casinos finished a 2004 bankruptcy reorganization, it cut $500 million off $1.8 billion in debt and reduced the interest rate to 8 percent from 15 percent.
"I don't think it's a failure' it's a success," Trump told The Associated Press at the time.
But countries function differently from businesses. Nations usually print their own money and service their debt through taxes, unlike corporations that can sell off assets and equity stakes to manage debt or close up shop. Interest rates would spike if a government refused to pay what it owed as investors priced in the risk of default and became resistant toward lending.
There is a lot there. First, Trump's experience as reported suggests he's no great love of lenders, unlike Hillary of the quarter-million speeches to Wall Street. That is a good thing, in Trump's favor. He had to take the blighters to bankruptcy court to shave principal and get a better rate. Not a super rate, just a better one. He knows how voracious they are, and has suffered having to do business with them.
The Clinton business with Wall Street was showing up a few hours and becoming much richer from, ostensibly, only giving a speech or two, or a bit more. Transcript release pending ... Don't hold your breath waiting ...
I like the Trump experience as more leavened.
Next, "countries function differently from businesses [...] usually print their own money [...] unlike corporations that can sell off assets [...]" is another handful.
The fact is, that charlatan Reagan did sell off assets as part of his giving a tax break to the wealthy, financing it short term by "privatization," and long term putting his successors in office in the penalty box.
"Great communicator?" No. Total fraud, given a free pass by a complicit press who collectively and wrongly called him a communicator. Perhaps saying "Drop your shorts" to the general public in an indirect way can be viewed as great communication, but then Tom Petters was as great a communicator, just on a smaller stage.
And, do you think the government of the US of A prints its own money? Think again.
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| Banks are great if you own one. |
The Federal Reserve prints the nation's money, and sells it to the government in exchange for debt bonds; so that the cabal of bankers makes interest money from taxpayers; where a very substantial part of each federal budget is debt service. And the bankers internationally in the New World Order grin and take the profits.
What "usury" means under such a plan is an uncertain thing to me.
So, is Trump's idea bad? Or merely cutting against existing moneyed-interest arrangements where taxpayers give money to international financial elite individuals, who may like a status quo which operates that way? You decide.