What? They took one of his buildings? Why would he write about that? I’m confused.
I think he’s just bragging about his real estate deals to the only people left in the world that give a shit.
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He doesn’t even really own them. He tripped over his dick when he fucked up a deal in Manhattan and ended up with a completely passive 30% stake in two office buildings. He’s bragging about a refinance transaction he had nothing to do with for buildings he doesn’t control.
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I did think it was a bit odd that the worlds most bankrupt man. Who has noped out of every deal he ever signed can still get a 2% rate on a billion dollars. Whereas any normal person who has missed a payment or two in their lives can’t get any better than 29.9% on like 1000 bucks. Where are the credit score people?
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If a normal person has collateral they can get a loan at a very low interest rate - car loans, for example, carry very low interest rates. Of all the things to get worked up about this isn’t one of them.
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I think that lots of people can get 2% 10 year mortgage rates currently. Interest rates are just absurdly low generally. 10 year Treasury yields have gone up 100 bps since the middle of last year and are still less than 2%, i.e. arguably less than 0% net of inflation.
Is that the building that’s tilting a few cm per year?
No, thats a condo building.
Summary of him having absolutely nothing to do with this success below - he in fact fought the deal and lost. That’s right, he got his only good asset because he lost a lawsuit. The guy is an absolutely atrocious businessperson, like truly one of the worst of all time.
It really is hard to overstate what an absolutely garbage businessperson Trump is. It’s literally like his dad owned a Baseball team and he inherited it… and his dream was to be a professional baseball player. So since he owns the team he puts himself in the lineup. He bats .000 and never fields a ball at short stop, last season the fans had a brief moment of hope when he got hit in the head with a line drive and almost died. He’s that bad at business. Seriously.
He is worse at being a businessman than I have ever been at anything, and that includes sports which is really saying something. This guy is a huge idiot, a huge mark, and is hugely confident that he is a genius and the most gifted bullshit artist who has ever lived. He is literally paying every human being he comes into contact with an absurd amount of money to live in his reality. Every single person.
Donald Trump is a monument to the dangers of compound interest existing in the same system as inherited wealth. If he was born poor he would have died in prison ten years ago, and instead he got to be president and royally fucked up the entire country.
He’s such a perfect specimen of the dangers of the system we have built that when we’re building the next one we need to stop at every stage and ask ourselves probingly ‘how would Donald Trump do in this system at this stage?’ If the answer is OK or better you need to set things up so that it would be poorly or worse. Every single stage. People like Donald need to be systemically stripped of resources and power with every single transaction they do. Everything about their mode of operating needs to be nerfed out of existence.
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I think he would have been an awful salesperson of some kind. His goofy bullshitting nature is actually tailor made for, say, a used car salesman.
And that’s why I think that article linked above creeped me out some. It was giving Trump way too much credit for too many things.
Does he deserve it? Maybe but all his talents rely solely on exploiting the cowardice in other people. He has zero positive attributes or skills related to anything.
His golf game likely requires his opponents to quietly accept his constant cheating.
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He always commits stupid people fraud and gets caught. Repeatedly
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Right, like the Fred Trump tax scams were legitimately complex and theoretically defensible in a court of law. Standard smart scumbag stuff.
Donald just commits the most obvious, stupid tax fraud imaginable and of course gets away with it. One of the rich person cheat codes that wasn’t widely known before Trump is that not paying taxes is a free roll if you are not a W-2 employee.
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Nah, it’s fine. The clientele can be pretty rough around the edges though.
They literally downsized the IRS specifically so that this would be the case, so yeah.
True but that’s only because he has the opportunity. If he hadn’t been handed large sums of money in the first instance then he would never sniff the opportunity to commit many of his most egregious crimes. He would just commit low level misleading of people buying used cars, etc.
Is that where Mark Newhouse and his people hangout, is he still around?
It’s been a long time since I was there. Commerce didn’t seem that dirty to me, but holy fuck, that place had the highest concentration of scumbags, dealer abuse and awful-etiquette-mega-obvious bumhunters of anywhere I’ve ever played by a lot.
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This is why their local commercials are/were so funny
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That’s especially ridiculous because it’s in East LA, surrounded by industrial uses and absolutely nothing any rational human would want to travel to or through for “girls night,” especially in freaking Los Angeles.