RandomGuy
07-19-2016, 05:04 PM
Trump is the greatest businessman in the world. Just ask him.
Of course, every used car salesman will tell you that "this car is the greatest".
Let's look a bit deeper.
Lie #1: "I have $8 billion dollars."
Forbes thinks he is exaggerating his wealth by about 100%
http://www.forbes.com/sites/erincarlyle/2015/06/16/trump-exaggerating-his-net-worth-by-100-in-presidential-bid/#34a4586c1a24
Interesting that he values his "brand" at about $3bn.
Think about that for a second. His own estimation of the value of his name is $3,000,000,000.
Now ask yourself:
How motivated would he be to pump up the value of his own name?
If you answer anything other than “ a lot” I have a sweet 15 year old car for you.
Lie #2: Trump is self-made
It is important to note that Trump didn’t start with “nothing”. He started with tens of millions of dollars. The exact amount is hard to pin down, given the time involved.
http://www.politifact.com/punditfact/statements/2015/dec/09/occupy-democrats/occupy-democrats-say-simple-investment-trumps-fath/
As an aside:
Personally, I think his lying about his net worth is one of the main factors about why he won’t release his tax return. ONE of them. The other being he has done something very likely illegal, and knows that whatever it is, the added scrutiny of his finances by everybody and their brother will out that faster than any overworked IRS auditors ever could. That illegality will probably prevent him from ever releasing them, giving Hillary her own pre-packaged scandal to harp on that will eclipse the “email” narrative.
Lie #3: “I don’t settle lawsuits — very rare — because once you settle lawsuits, everybody sues you,”
Of course that hasn’t stopped him from actively suing and being sued plenty, close to 3500 times:
http://www.usatoday.com/story/news/politics/elections/2016/06/01/donald-trump-lawsuits-legal-battles/84995854/
As he campaigns, Trump often touts his skills as a negotiator. The analysis shows that lawsuits are one of his primary negotiating tools. He turns to litigation to distance himself from failing projects that relied on the Trump brand to secure investments. As USA TODAY previously reported, he also uses the legal system to haggle over his property tax bills. His companies have been involved in more than 100 tax disputes, and the New York State Department of Finance has obtained liens on Trump properties for unpaid tax bills at least three dozen times.
Speaking of negotiations:
Lie #4: Trump is a great negotiator:
This takes a hit, when you actually talk to professional negotiators:
https://hbr.org/2016/04/what-donald-trump-doesnt-understand-about-negotiation
Shocker: being a blowhard is a horrible strategy, especially when it isn't money, but military on the table. That is how wars start.
Trump claims his awesomeness at negotiating got him great deals from his creditors. The creditors say otherwise.
Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts.
It was, the real estate developer admits in his 1997 book The Art of the Comeback, the darkest period of his professional life. In his telling, it’s a story of redemption, of resilience, and proof of his exceptional negotiating skills and shrewd thinking.
Six people who participated in the loan workout negotiations have a different recollection, raising questions about a key part of the personal narrative that many of Trump’s supporters have found compelling as he campaigns to be the next president of the United States on Nov. 8. On the campaign trail he has portrayed himself as a survivor and a master negotiator.
Trump says his comeback began when he recognized a downturn in the real estate market and quickly asked banks to renegotiate his loans. “That decision was perhaps the smartest thing I did,” he wrote.
The six bankers and lawyers involved in the talks say the bailout wasn’t based on any overture Trump initiated with the banks – and the terms of the deal were dictated by what was best for the banks, not Trump.
Three of the participants say Trump didn’t acknowledge he had a problem until his lenders reviewed his books, realized he was on the brink of collapse, and summoned him for debt restructuring talks.
The last thing though, if you want to really measure his judgment is to see how his "capture the media by saying stupid shit" strategy is doing to his brand.
It is a litany of canceled deals.
http://www.wsj.com/articles/buzzfeed-calls-off-ad-deal-with-rnc-over-donald-trump-1465233461
http://fortune.com/2015/12/17/donald-trump-deals-lost/
His hotels and other developments, that once commanded premiums over competitors, have seen that premium slide into statistical insignificance.
Trump-Branded Condos No Longer Exhibit the Price Premium They Had Last Year, According to Redfin
https://www.redfin.com/blog/2016/07/have-trump-condos-lost-their-luster-this-election-year.html
The four bankruptcies point out the cost of buying into Trumps brand. He sold his creditors on his brand, and it cost them billions.
Lie, after lie, after lie. Not just little ones, either. At a certain point, one has a pretty definite pattern.
Now, he is asking us to buy into his brand.
How much will that cost us?
Of course, every used car salesman will tell you that "this car is the greatest".
Let's look a bit deeper.
Lie #1: "I have $8 billion dollars."
Forbes thinks he is exaggerating his wealth by about 100%
http://www.forbes.com/sites/erincarlyle/2015/06/16/trump-exaggerating-his-net-worth-by-100-in-presidential-bid/#34a4586c1a24
Interesting that he values his "brand" at about $3bn.
Think about that for a second. His own estimation of the value of his name is $3,000,000,000.
Now ask yourself:
How motivated would he be to pump up the value of his own name?
If you answer anything other than “ a lot” I have a sweet 15 year old car for you.
Lie #2: Trump is self-made
It is important to note that Trump didn’t start with “nothing”. He started with tens of millions of dollars. The exact amount is hard to pin down, given the time involved.
http://www.politifact.com/punditfact/statements/2015/dec/09/occupy-democrats/occupy-democrats-say-simple-investment-trumps-fath/
As an aside:
Personally, I think his lying about his net worth is one of the main factors about why he won’t release his tax return. ONE of them. The other being he has done something very likely illegal, and knows that whatever it is, the added scrutiny of his finances by everybody and their brother will out that faster than any overworked IRS auditors ever could. That illegality will probably prevent him from ever releasing them, giving Hillary her own pre-packaged scandal to harp on that will eclipse the “email” narrative.
Lie #3: “I don’t settle lawsuits — very rare — because once you settle lawsuits, everybody sues you,”
Of course that hasn’t stopped him from actively suing and being sued plenty, close to 3500 times:
http://www.usatoday.com/story/news/politics/elections/2016/06/01/donald-trump-lawsuits-legal-battles/84995854/
As he campaigns, Trump often touts his skills as a negotiator. The analysis shows that lawsuits are one of his primary negotiating tools. He turns to litigation to distance himself from failing projects that relied on the Trump brand to secure investments. As USA TODAY previously reported, he also uses the legal system to haggle over his property tax bills. His companies have been involved in more than 100 tax disputes, and the New York State Department of Finance has obtained liens on Trump properties for unpaid tax bills at least three dozen times.
Speaking of negotiations:
Lie #4: Trump is a great negotiator:
This takes a hit, when you actually talk to professional negotiators:
https://hbr.org/2016/04/what-donald-trump-doesnt-understand-about-negotiation
Shocker: being a blowhard is a horrible strategy, especially when it isn't money, but military on the table. That is how wars start.
Trump claims his awesomeness at negotiating got him great deals from his creditors. The creditors say otherwise.
Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts.
It was, the real estate developer admits in his 1997 book The Art of the Comeback, the darkest period of his professional life. In his telling, it’s a story of redemption, of resilience, and proof of his exceptional negotiating skills and shrewd thinking.
Six people who participated in the loan workout negotiations have a different recollection, raising questions about a key part of the personal narrative that many of Trump’s supporters have found compelling as he campaigns to be the next president of the United States on Nov. 8. On the campaign trail he has portrayed himself as a survivor and a master negotiator.
Trump says his comeback began when he recognized a downturn in the real estate market and quickly asked banks to renegotiate his loans. “That decision was perhaps the smartest thing I did,” he wrote.
The six bankers and lawyers involved in the talks say the bailout wasn’t based on any overture Trump initiated with the banks – and the terms of the deal were dictated by what was best for the banks, not Trump.
Three of the participants say Trump didn’t acknowledge he had a problem until his lenders reviewed his books, realized he was on the brink of collapse, and summoned him for debt restructuring talks.
The last thing though, if you want to really measure his judgment is to see how his "capture the media by saying stupid shit" strategy is doing to his brand.
It is a litany of canceled deals.
http://www.wsj.com/articles/buzzfeed-calls-off-ad-deal-with-rnc-over-donald-trump-1465233461
http://fortune.com/2015/12/17/donald-trump-deals-lost/
His hotels and other developments, that once commanded premiums over competitors, have seen that premium slide into statistical insignificance.
Trump-Branded Condos No Longer Exhibit the Price Premium They Had Last Year, According to Redfin
https://www.redfin.com/blog/2016/07/have-trump-condos-lost-their-luster-this-election-year.html
The four bankruptcies point out the cost of buying into Trumps brand. He sold his creditors on his brand, and it cost them billions.
Lie, after lie, after lie. Not just little ones, either. At a certain point, one has a pretty definite pattern.
Now, he is asking us to buy into his brand.
How much will that cost us?