And ... are Trump cripple now financially wise?Bishop149 wrote: ↑Thu, 6. Dec 18, 12:03Debt is a part of business sure, and for the ultra rich is often used to a frankly ridiculous degree. It is also basically what leveraging is that I was discussing earlier. But being a "good businessmen" means you can successfully manage it, balance your books, Trump did not he was staggeringly reckless and it crippled him. It really is quite simple.
Don't you see the irony in what you're trying to say? You're accusing me of being happy to judge someone over short term, yet it IS you that are guilty of that. You are focusing in just ONE specific time frame in the late 80' and early 90' that Trump was dancing around bankruptcy to indite judgement on him. It is ME who judging him over the long term, from the beginning when he worked in his father real estate company at 22, to when he took charge of it and found Trump organization 3 years later, to now when he's 72 years old sitting of a large business empire with a diverse porfollio. There are up and down, but again, if you want to convince people he's not a successful then you are being outright dishonest, much in the way when Warren claimed GE pay -zero- tax.Well yes . . . why is this so hard for you to grasp? You're happy to judge someone over the short term with no regard for the eventual consequences?
I could become rich overnight, I could go out a mortgage every asset I own to the hilt, get 10 credit cards and max them out. . . . I could live the high life for a few years and then be completely screwed when it all came home to roost. Would you only look at those couple of years and say "Wow, that Bishop sure knows how to live!"
Oh, and that hyperbolic example you just used, don't bother. I know a lot of people live like that, in fact a lot of American live like that, including many who riches and famous. They tend to end up actually bankruptcing and being on the street, they don't end up like Trump.
So you seems to think "good business" is defined as being never suffering set back and failure. Well, I think most people will disagree with you, especially Trump. After all he said: Success comes from failure, not from memorizing the right answers.Brief aside, seeing as you keep bringing up Elon Musk he is quite a good parallel. IMO I think its likely he will also eventually fail as well (not as hard as Trump though). His businesses are not sustainable, he's doing some very cool stuff but his desire for this kudos seems to frequently override good business sense.
Oh I know. I'm not rich now, but I used to be. 3 generations ago we were part of the aristocrat (my great grand parents), 2 generation ago we we part of the olingard (my grand parents), the previous generation we were part of economical elite (my mothers). It's my generation (aka me) that decided to give up that to come to the US and restart from zero (aka becoming poor). Missed that life? No. But neither I hold contempt about it, I have seen the other side of that life. The bigger the ship, the stronger the wave, it's not just about money.Life just being different for the rich is a plain fact.
See, it's a mentality thing. It's not just my life, but my culture teach us to never hold contempt to the people above us, but to look at those people and propel ourselves to their place. There is a reason for someone who came to the US in 2003 empty hand to live in a slump, going to the worst school in the district, to get a BS 6 years later, buy a house in 2009, receive the first MS 3 years later, a second MS 2 years later, and finally went above the nation median income a year ago. All of that was achieved with no special help, and without a home-field advantage. I'll give you a hint, that was achieved by not complaining about the problems, but by gritting the teeth to become part of what you so call "problems".
My tax money is being used to take care of some drunkards who never take charge of their life. My tax money is being used to buy weapons to bomb innocent in another country. My tax money are being used to pay salary to a bunch of politician who lying through their teeth everyday. So yes, you can be quite sure that bailing out business is the the least ineffective usage of tax money.As for it not being your business, well it is, in reality it's your money they're spending they didn't and couldn't "earn" it. But hey, your prerogative.
And that reason being they have been historically proven to be incorrect, repeatly, and have not even ONE good example to their grace. So if these people who are more qualified than you, who probably have a better data set to work with then you and still can't do their job .... give me one reason why me or anyone should trust your model/calculation aside from just agreeing with the narrative in principle?This tells me there is no reason trying to explain it to you, you have already looked up the data of people far more qualified than I am to explain this and rejected it for your own reasons.
And be angry away, that is your right. Doesn't change the fact that's how life work though, or the life as we know it.Both can make me angry, both are examples of literally one rule for the rich and another for the rest of us. And tax is merely one example.
He's sitting on a a business empire that ranging from 5-10bil depending on who you trust. That is your reality.Trump is 3) his assessment of his own competence is at odds with reality.
It's not a hard choice.
Just like life. If you are able to come up with an economic theory that can make the world economy stay healthy eternally, not only I believe you should be paid 10 digits salary, I believe you should be enshrined and elevated to godhood. That is why I said why your argument isn't really about right or wrong, it just lack substance mixing with a bit of non-story. Most of your accusation about Trump about this is akin to accusing the sky being blue, and you just happens to hate the color blue.This is, in a nutshell, often why economic crashes happen.