Will Trump bankrupt the US entirely?

[Yellowtail]

3 minutes ago, Lacessit said:

Casinos are a business where people line up to give you money.

 

It's like going broke owning a brewery.

And still, over a hundred breweries go bankrupt every year. 

 

And it was a hotel casino, not just a casino, and he owned it and made money with it for thirty years, after it went bankrupt. 

 

It is amusing that an old, retired guy that's terrified of using credit cards fancies himself an expert on high finance. 

[spidermike007]

4 hours ago, transam said:

As Trump hasn't a clue what he is doing, anything could happen. For sure, a lot of folk around the world have no doubt changed their opinion of the 'land of plenty', as it is now the 'land of dictator Trump'.

 

Plus, I see many Trump supporters had disappeared from Trump discussions, but not the Putin supporters though, I wonder why........🤭

Very true. I have been telling people for two decades how over rated the US is, and they kept on fawning. No longer. Trump has been the greatest tool in history, when it comes to convincing the world, that the US is no big deal, and is becoming a lesser version of itself daily. 

[spidermike007]

1 hour ago, gamb00ler said:

yes indeed for the wine biz .... but did you notice they stayed in their lane?   The know the wine business and said absolutely nothing about anything outside it.

 

You're just a vapid supporter of this insane administration and are obsessed with criticizing any comment that may vaguely disagree with its policies.

 

Most of us recognize you don't have a lane so you just wander aimlessly from topic to topic.

Very well put. Where did this @JaxxBKK guy come from anyway? He seems to have appeared out of nowhere, and is totally obsessed with defending Trump, no matter how lame his policy is, even when many supporters are admitting how far the goon has strayed from his original plan. 

[Yellowtail]

6 minutes ago, spidermike007 said:

Very true. I have been telling people for two decades how over rated the US is, and they kept on fawning. No longer. Trump has been the greatest tool in history, when it comes to convincing the world, that the US is no big deal, and is becoming a lesser version of itself daily. 

Yeah, I remember that POC Obama claiming the US was nothing special, and that all we could expect was managed decline. 

 

Your hero, yes? 

[Lacessit]

38 minutes ago, Yellowtail said:

And still, over a hundred breweries go bankrupt every year. 

 

And it was a hotel casino, not just a casino, and he owned it and made money with it for thirty years, after it went bankrupt. 

 

It is amusing that an old, retired guy that's terrified of using credit cards fancies himself an expert on high finance. 

My money will last me until I am about 105, if not longer.

 

I doubt I can say the same about you.

[Lacessit]

22 minutes ago, spidermike007 said:

Very well put. Where did this @JaxxBKK guy come from anyway? He seems to have appeared out of nowhere, and is totally obsessed with defending Trump, no matter how lame his policy is, even when many supporters are admitting how far the goon has strayed from his original plan. 

Probably an alter ego of one of the leftist haters already here.

[Yellowtail]

5 minutes ago, Lacessit said:

My money will last me until I am about 105, if not longer.

What's that, about six months from now? 

5 minutes ago, Lacessit said:

 

I doubt I can say the same about you.

Match assets for B100K? Put your money where your mouth is... 

[Lacessit]

6 hours ago, sqwakvfr said:

This is what I fear the most: Who will buy more US Debt? The last thing I want to hear is "raise the debt ceiling".  The cracks may be forming even right now.   The inventory of unsold homes in many parts of the US is growing by the day.  Interest rates across the board are starting to iinch higher and higher and this is literally brake that halts any economy.  The US economy runs on borrowed money (auto loans, home loans, credit cards and even personl loans).  When money is cheap the economy humms and when money is expenisve the economy crawls.  

The average American household is $105,000 in debt.

 

The " Big Beautiful Bill" will swell national debt by $2.4 trillion.

 

Tariffs cause inflation. Central banks increase interest rates to fight inflation.

 

I know, these facts are too complex for some to comprehend.

[gamb00ler]

51 minutes ago, Yellowtail said:

And still, over a hundred breweries go bankrupt every year. 

 

And it was a hotel casino, not just a casino, and he owned it and made money with it for thirty years, after it went bankrupt. 

 

It is amusing that an old, retired guy that's terrified of using credit cards fancies himself an expert on high finance. 

Apparently you know little about bankruptcy.

 

Bankruptcy effectively allowed Trump to cancel a lot of the personal debt he offloaded from himself to the casino.  In other words... he got to legally stiff many of those who loaned him money or invested in the casino.  Once he had reduced the onerous debt he could operate the casino without having to repay that capital or the attendant interest owed.

[Yellowtail]

5 minutes ago, Lacessit said:

The average American household is $105,000 in debt.

 

The " Big Beautiful Bill" will swell national debt by $2.4 trillion.

 

Tariffs cause inflation. Central banks increase interest rates to fight inflation.

 

I know, these facts are too complex for some to comprehend.

And the average Australian household debt is $261,492 (~US$170K)

 

Average home sales price in the US is about $503K 

 

 

[Yellowtail]

6 minutes ago, gamb00ler said:

Apparently you know little about bankruptcy.

 

Bankruptcy effectively allowed Trump to cancel a lot of the personal debt he offloaded from himself to the casino.  In other words... he got to legally stiff many of those who loaned him money or invested in the casino.  Once he had reduced the onerous debt he could operate the casino without having to repay that capital or the attendant interest owed.

Why do you assume I do not know what bankruptcy is?

 

If you want to make bankruptcy illegal, I am all for it, but until it is, it is a legitimate financial vehicle. 

 

 

[gamb00ler]

2 hours ago, Yellowtail said:

In all fairness it was the guy that posted the link that got out of his lane claiming it was more than it was. 

 

I think we can all agree that tariffs on imported wine will hurt wine importers, and likely more than it will help domestic wine producers. 

I reread the @spidermike007 post that contained the quote and link.  In that post the Spiderman was not out of his lane...  He only quoted the wine publication and then provided the link.

 

Personally, I view wine production/consumption as strictly a luxury so I worry much less about that business niche than those dealing in necessities.

[Yellowtail]

1 minute ago, gamb00ler said:

I reread the @spidermike007 post that contained the quote and link.  In that post the Spiderman was not out of his lane...  He only quoted the wine publication and then provided the link.

 

Personally, I view wine production/consumption as strictly a luxury so I worry much less about that business niche than those dealing in necessities.

Did you? I seem to recall a good bit of hyperbole, but I and not going back looking for it. 

 

In any event, I'm willing to stipulate that that tariffs on importers wine hurt wine importers. 

 

Again, I am generally against tariffs. 

[still kicking]

Trump fails

 Facebook

[gamb00ler]

29 minutes ago, Yellowtail said:

Why do you assume I do not know what bankruptcy is?

 

If you want to make bankruptcy illegal, I am all for it, but until it is, it is a legitimate financial vehicle. 

 

 

Because you failed to understand how the bankruptcy saved Trump piles of money, which reduced the overhead of the casino.  After the bankruptcy it is much easier for the casino to make a profit.  Trump's mismanagement had to be followed by a bankruptcy to fix Trump's screwups.  Trump made money by avoiding paying for his previous mistakes.

 

It may be correct to state that the pre-bankruptcy losses (that others suffered) would total more than the profit subsequently made.

[save the frogs]

11 hours ago, still kicking said:

Trump fails

 Facebook

This is just a nobody yapping nonsense to give themselves a sense of importance.

 

[jas007]

37 minutes ago, gamb00ler said:

Apparently you know little about bankruptcy.

 

Bankruptcy effectively allowed Trump to cancel a lot of the personal debt he offloaded from himself to the casino.  In other words... he got to legally stiff many of those who loaned him money or invested in the casino.  Once he had reduced the onerous debt he could operate the casino without having to repay that capital or the attendant interest owed.

Bankruptcy exists for a reason.  It's part of the law and is often a matter of necessity.

 

Henry Ford, Abraham Lincoln, Walt Disney, George McGovern, John Connally.  Every one of those people had no choice at one point in their lives but to file for bankruptcy.  It's just business, and when banks loan money, they know full well the risk. 

 

 

[save the frogs]

People think the official govt website is propaganda, but I think it's more accurate than the media lies and spin.

 

https://www.whitehouse.gov/articles/2025/06/50-wins-in-the-one-big-beautiful-bill/

 

Americans earning between $30,000 and $80,000 will pay around 15% less in taxes.

 

It raises Americans’ take-home pay by as much as $13,300 and wages by as much as $11,600.

 

NO TAX ON TIPS and NO TAX ON OVERTIME.

 

It increases the child tax credit to $2,500 per family.

 

... plus a bunch of other stuff ... people who can't come up with one positive thing to say about Trump are deluded. 

[still kicking]

3 minutes ago, save the frogs said:

This is just a nobody yapping nonsense to give themselves a sense of importance.

 

Prove him wrong.

[Yellowtail]

7 minutes ago, gamb00ler said:

Because you failed to understand how the bankruptcy saved Trump piles of money, which reduced the overhead of the casino.  After the bankruptcy it is much easier for the casino to make a profit.  Trump's mismanagement had to be followed by a bankruptcy to fix Trump's screwups.  Trump made money by avoiding paying for his previous mistakes.

 

It may be correct to state that the pre-bankruptcy losses (that others suffered) would total more than the profit subsequently made.

Again, why are you falsely claiming that I fail to understand how the bankruptcy may have saved Trump piles of money? That's how bankruptcy works.

 

Again, if you want to make bankruptcy illegal, I am all for it, but until it is, it is a legitimate financial vehicle.

 

In any event, what specific actions did Trump that you are calling mismanagement and screwups?

 

 

[xylophone]

23 hours ago, spidermike007 said:

Trump, nor his substandard team seem to have absolutely no understanding of globalization and the inherent ecosystems within manufacturing, and he doesn't seem to understand why manufacturing has declined in the US over the last 55 years. It certainly didn't happen in a vacuum. 

 

I predict that Trump's attempts to impose tariffs and bring manufacturing back to the US will be a massive failure of epic proportions.

I found this excellent article which deals with trumps belief that he can simply bring manufacturing back to the US and the economy will benefit; but not so according to this article, which I believe a lot more than I do the orange buffoon's reasoning/rationale.....

 

American factories are already struggling to fill around 500,000 manufacturing jobs, according to estimates by Wells Fargo economists. They calculate that to get manufacturing as a share of employment back to the 1970s peak that Trump has sometimes called for, new factories would have to open and hire 22 million people. There are currently 7.2 million unemployed people.

Trump’s crackdown on immigration has made things worse.

Factory jobs moved overseas to countries, like Vietnam, that had growing populations and young people looking for jobs to pull themselves out of poverty. The future that Trump envisions, with millions of factory jobs, would have to include immigrants seeking that same opportunity in the United States.

www.nzherald.co.nz/business/trump-wants-america-to-make-things-again-does-it-have-what-it-takes/7NXA3A343FHPDGSUJOZXSPFDRE/

OOPS, Also looks like TACO scored "an own goal". LOL!!
 

[Mavideol]

20 hours ago, JaxxBKK said:

 

The OP fails to grasp the tarrifs are not about tarrifs. They are about strong arming countries into balancing trade

 

The OP dies not mention the trade agreements and influx of investment whatsoever.

 

None of this will solve the broken liberal, globalist hegemony. Nevertheless, it's something more than we got out of a senile, child sniffing dottering old fool who had zero trade policy because his mind was mashed potatoes

the tariffs are taxes passed to the customers, China is not paying taxes, american families are, car makers will raise prices due to steel taxes, people buying cars will pay more for a car, US doesn't have enough steel to supply all car companies even if they do the price of the US steel is double compared to the imported one, either way you look at it, it's a loose, loose  situation, but I am sure you know it as it appears you are a master in economics, it's just you don't want to admit the loose, loose situation, it's better and easier to rant and btw I am not a leftist so don't use that deflection, I am somebody who never liked Trump 

[BLMFem]

3 hours ago, StandardIssue said:

 

It might happen! Terrible businessman.

 

He's pretty good at bankrupting the most difficult business to bankrupt. The Casino Business.

 

Trump Taj Mahal:

• Grand Opening, Quick Bankruptcy: Billed as the "eighth wonder of the world," the Trump Taj Mahal opened in 1990 after costing over $600 million to build, largely financed by junk bonds with high interest rates. It filed for bankruptcy just a year later in 1991.

The worst thing about that whole utter fiasco was all the small contractors who never got paid and who went out of business because of TACO Trump.

 

Jayzuz Age Krist, it's hard to not just call him TACO!

[Yellowtail]

4 minutes ago, xylophone said:

I found this excellent article which deals with trumps belief that he can simply bring manufacturing back to the US and the economy will benefit; but not so according to this article, which I believe a lot more than I do the orange buffoon's reasoning/rationale.....

 

American factories are already struggling to fill around 500,000 manufacturing jobs, according to estimates by Wells Fargo economists. They calculate that to get manufacturing as a share of employment back to the 1970s peak that Trump has sometimes called for, new factories would have to open and hire 22 million people. There are currently 7.2 million unemployed people.

Trump’s crackdown on immigration has made things worse.

Factory jobs moved overseas to countries, like Vietnam, that had growing populations and young people looking for jobs to pull themselves out of poverty. The future that Trump envisions, with millions of factory jobs, would have to include immigrants seeking that same opportunity in the United States.

www.nzherald.co.nz/business/trump-wants-america-to-make-things-again-does-it-have-what-it-takes/7NXA3A343FHPDGSUJOZXSPFDRE/

OOPS, Also looks like TACO scored "an own goal". LOL!!
 

Per the FRED, the Labor Force Participation Rate is 62.6%, and the labor force total is 158,721,400. That would indicate that there are about 59 million people not working. 

 

 

https://fred.stlouisfed.org/series/CIVPART

 

 

[Yellowtail]

10 minutes ago, Mavideol said:

the tariffs are taxes passed to the customers, China is not paying taxes, american families are, car makers will raise prices due to steel taxes, people buying cars will pay more for a car, US doesn't have enough steel to supply all car companies even if they do the price of the US steel is double compared to the imported one, either way you look at it, it's a loose, loose  situation, but I am sure you know it as it appears you are a master in economics, it's just you don't want to admit the loose, loose situation, it's better and easier to rant and btw I am not a leftist so don't use that deflection, I am somebody who never liked Trump 

Just like corporate income taxes are taxes passed on to the customers, but you're all for those, yes? 

 

Corporate income taxes both punish the consumer, but: 

 

Corporate income taxes punish domestic manufacturers. 

 

Tariffs punish foreign manufacturers. 

[newbee2022]

Yes, he will.

The analysts expect this within a time span between 6 months and 1 year.

But it will not have an impact on US only but the world.

Europe might be still ok.

Mainly Trump will destroy the Bonds and make them not covering the costs for pensions. Also the house building banks will rise their interest rates. And the inflation rate is said to be around 8%. Life will be extraordinary expensive.

Crowds on the streets against Trump.

Moody's will give US a "B" rating.

Analysts expect Trump to be kicked off Oval Office within the next 2 years.

Dreaming?

[1FinickyOne]

5 hours ago, Yellowtail said:

I believe many of the things Trump is doing/trying to do will make life in the US more affordable. 

So, how is it working out so far? 

[1FinickyOne]

1 hour ago, Yellowtail said:

Tariffs punish foreign manufacturers. 

I was an importer into the USA for a while. If there were taxes [duty] on any imported items, I had to pay it. My suppliers did not. Plain and simple. 

[CallumWK]

2 minutes ago, 1FinickyOne said:

So, how is it working out so far? 

 

Eggs have gone down in price, don't you follow the news?

So Americans now eat eggs 3 times a day

[cjinchiangrai]

23 hours ago, JAG said:

Perhaps the inevitable conclusion - the USA will not be able to afford the discretionary spending!

 

Massive cuts to Medicare, Medicaid and Social Security. They are clearly coming down the line!

Why not tax the rich again? This all started with Reagan, deficit spending to support handouts for billionaires and an unsustainable waste in defense spending that just created a need for more wars.