The New York Times dropped a lengthy expose detailing Donald Trump’s ten year run of bad business decisions that caused him to lose a billion dollars. The NYT described his financial situation between the years 1985 to 1994 as “bleak.”
Ironically, even as he was hemorrhaging money, Donald Trump was peddling his best-selling “The Art of the Deal”, positioning himself as a master businessman. Like everything Trump, scratching the gold-plated surface reveals it was fool’s gold all along—Trump squandered his vast inheritance then likely turned to shady sources for new funding after U.S. banks refused to loan him another dime. Where did he get his money from after U.S. banks pulled up anchor? We still don’t know. And that is a huge problem.
It’s easy to see why U.S. banks refused to get in bed with Trump, he was a huge loser in the business world. Seriously, nobody in America lost more money during that time than Donald Trump. He is the biggest loser.
In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.
To further put this $1 billion loss over ten years in perspective, here’s a good breakdown of exactly how much money he was losing by the day, even by the hour.
Donald Trump could’ve made money by doing nothing with his inheritance, just watching it grow in a various savings and investment accounts like most trust-fund babies. But, not this egomaniac. His con jobs began to grown and various entertainment outlets and networks greedily gobbled up the fantasy he was selling as a successful businessman, a fantasy he himself admitted to selling in “The Art of the Deal.”
“I play to people’s fantasies. ... People want to believe that something is the biggest and the greatest and the most spectacular. I call it truthful hyperbole.”
Fox News is also in the business of selling fantasies, which could explain why they are so very tight with Donald Trump. They create their own reality and then helpfully reinforce each other. Take this New York Times investigation of Trump’s billion loss. Fox News would have to admit this wasn’t positive news for someone who’s sold himself for decades as the best businessman around, right? Wrong. Brian Kilmeade, Steve Doocy and Ainsley Earhardt of “Fox & Friends” put on their spin shoes and started dancing for their #1 fan who was no doubt back at the White House watching and tweeting.
Losing a billion dollars is impressive! But, wait, there’s more—it’s also BOLD.
Many have said this NYT report is damaging and will have real impact on Trump’s reputation and/or election chances ,but with Fox & Friends like that, will it have an impact? Like Trump, they are peddling their own fantasies and unfortunately, far too many Americans are willingly embracing the spin.