Report: Donald Trump's companies at least $650 million in debt

originally posted by: Fowlerstoad
a reply to: Invicid

This is off topic, I admit ... but there are a lot of articles out there about the 'un-payability' of our US National debt.

No countries are 'currently' paying off their debts, true. You have some good points, but my belief is that we are just at the end of an incredible debt cycle, which has distorted government spending around the globe. Most countries are passing around their debt like hot potatoes, like you said, agreed and true. But it cannot mathematically last.

One link

A more sophisticated analysis, perhaps

The argument of whether it can "last" is self-evident. It cannot last whatsoever - which is why we have orchestrated recessions to continue to put that off. The harsh reality is, is that relatively across the globe we are in a totalitarian capitalism, which is inherently unsustainable. Where the governments and their wardens across the globe, use state funds as their own personal casino ring. I see much fear mongering over socializing civil policies that should have never been capitalistic to start; i.e. healthcare. We must realize that there must be mixed legislation between capitalism and socialism (where it makes sense) - we need to take back the industries that have been privatized that should have never been to begin with. We need to change our perception of money and how it is allocated - the only reason individuals like Trump can even run in this election because we have insolated them from their own failures as businessmen/women. We defend the rich while calling the poor lazy, we have over 8 billion people in a global economy. Something needs to give, and it's people's interpretations on economy, globalism etc. We don't live in a closed domestic economy either, yet all these Trumpians want to go uber nationalist. Where the # you all think we get our products? We produce nothing other then corn, and natural gas. Wake the # up everyone, were in this together, the people, of this planet, not just the USA. We have all been hoodwinked into believing we don't have the resources to provide for all, it's a fallacy. Wake up from the matrix.

Unless the report also includes many other metrics such as net worth, then that $650M figure is irrelevant.

Businesses tend to run on credit. Especially real estate holdings, as anybody in real estate could attest.

Assuming there's no other numbers to go with the $650M then its silly and ignorant to make this a talking point. Even better will be later on wen people go rant about The Donald and include this little 'factoid' in their rants....

originally posted by: Astyanax
a reply to: iTruthSeeker

It has been explained to you at least 4 times already that this 650mil debt means nothing.

Try borrowing just $650, then come back and tell me with a straight face that $650bn is nothing.

Ever had to pay back a mortgage?

If you don't have any collateral it would be impossible to borrow. But if you have 6.5 billion in assets like Trump you could easily borrow it. And if you have a history of borrowing and repaying debt you can easily get a loan.

If you're dumb enough to vote for Hillary Clinton after all the evidence of fraud and other serious crimes. I wouldn't lend you a quarter for a candy bar.

a reply to: Southern Guardian

Par for the course - the whole USA is his model,

www.usdebtclock.org...

en.wikipedia.org...

Lets look at that debt -

fortune.com...

I have massive assets.” In other words, Trump is reaffirming that he’s worth $10 billion or so. Indeed, if his holdings and capitalized royalty income are really worth $11 billion, and his debt stands at just over $1 billion,then he’s really worth $10 billion

Next?

a reply to: Invicid

Ideologically, I agree with you

I read your post twice!

originally posted by: TheConstruKctionofLight
a reply to: Southern Guardian

Par for the course - the whole USA is his model,

www.usdebtclock.org...

en.wikipedia.org...

Lets look at that debt -

fortune.com...

I have massive assets.” In other words, Trump is reaffirming that he’s worth $10 billion or so. Indeed, if his holdings and capitalized royalty income are really worth $11 billion, and his debt stands at just over $1 billion,then he’s really worth $10 billion

Next?

You're assuming he owns his assets outright, which is pure fantasy. You're also assuming that if he liquidated those assets, even if he owned them 100% outright, he would still only take 40 - 50% home after a sale. Due to taxes, fee's, and the massive overhead those assets command. Are you a child? Because this is not adult math.

This initial story and headline completely preys on the knee-jerk reactionary ignorance of readers, of how debt and finance works, etc.

I'm in debt, you're in debt, we're all in debt.
Does that mean we're in default?
Does that mean we don't own more than we owe in debt?

Ah, now it makes sense, doesn't it?

Jeez....

With higher taxes the national debt has doubled under Obama but that's cool to Hillary lock step voters.

I only wish are country was in the same financial position as Trump. That's the problem. Most American voters don't have a clue what good financial shape is. Even if it slapped them up side the head.

They actually think Trump is doing awful when in fact he is leveraging bank money at today's extremely low rates to expand further. And he's taking 0 risk because his assets dwarf his debt.

The amount of debt he is in is really pointless unless he releases his tax returns to compare to his real net worth, which no one really seems to know because Trump seems to exaggerate and spin a lot of BS. If he's worth the billions he claims, then 650 mil, if thats all his debt, isn't bad at all. But if he's worth a fraction of what he claims, and the claims that he is actually worth less than a billion are true, then 650 mil in debt is is someone who can't handle their finances.

a reply to: Skadi_the_Evil_Elf

Good point. Trump has spun his net worth out of control at times.

in 1990, when he claimed to be worth $3 billion but could not pay interest on loans coming due, his bankers put his net worth at minus $295 million.

Public records (cited in my book Temples of Chance) show that as your career took off, you legally reported a negative income and paid no income taxes as summarized below:
1975 Income: $76,210 Tax Paid: $18,714

1976 Income: $24,594 Tax Paid: $10,832

1977 Income: $118,530 Tax Paid: $42,386

1978 Income: ($406,379) Tax Paid: $0

1979 Income: ($3,443,560) Tax Paid: $0

source

a reply to: Invicid

Its all perspective everyone that accumulates serious wealth uses debt.
The thread premise is that he is $650M in debt - not a big deal if his properties are still collecting rents and his debt is serviceable.

Are you the child? My maths adds up, the thread heading is sensationalst and par for the course when it comes to "Trump", I noticed that you didnt mention the way the USA works with debt - who's the child now.

Judging from you recent posting history and your 1 liner responses, I think its you who needs to ask themselves what you're doing on ATS?

a reply to: TheConstruKctionofLight

the thread heading is sensationalst and par for the course when it comes to "Trump"

someone should make a sensationalist headline about clinton, that would be a first here.

originally posted by: Swills
a reply to: Southern Guardian

Wouldn't all this debt disqualify him from being POTUS? Could be why he refused to release his tax returns.

No. You have to break the law (like Hillary Clinton) to be disqualified from POTUS. Oh. Unfortunately the law doesn't apply after you put in enough criminal operatives in key positions. An example of yet another Clinton trademark of corruption.