Donald Trump Tells Fox News We're Going To Have A Depression & It's Bush's Legacy

Quote from Pa(b)st Prime:

Trump is like most of Elite America. Well educated, moneyed, connected, articulate and 25pts too shy in I.Q. to grasp emerging trends lurking under the surface.

If in Trump's view it was so clear that Bush, Iraq, oil prices and whatever additional phantom forces in play were detrimental to growth then why was Trump expanding his development empire. Trump projects were "the high is in" sentiment indicator unto themselves. If you drive down Collins Avenue from Sunny Isle to Miami Beach you pass square feet measured in literally the millions of over priced, under subscribed Trump condomania.

Bubbles have a fairly simple cause. Productivity gains spur wealth. Wealth then enables credit expansion. As the economic cycle rises liquidity begins to outpace viable enterprises. Cash abundant investors chase crappier and crappier risk adjusted returns. As the inevitable failures occur the express elevator on the way up becomes the express elevator on the way down.

How did Bernanke, Greenspan, King etal attempt to deal with the market's proper adjustments? By throwing even MORE gasoline into the fire. Lunacy.
More...

Actually most of these projects, Trump just attaches his name. Developers will pay him for the right to call it the "Trump Towers" or "Trump Condos" or whatever. He gets the money and takes none of the risk and does none of the work. Pretty smart business model.

Trump sucks at operating businesses, one of his casino operations went bust *during the boom*. But he is great at branding and marketing himself.
 
Quote from Landis82:

Why not put your partisan politics aside for once and ALSO acknowledge the "Commodity Futures Modernization Act of 2000" which allowed for the creation of $35 TRILLION in credit default swaps trading "unregulated" without any oversight whatsoever, AND the trading of power and energy contracts ( ie. ICE for WTI trading under the good folks in Dubai and London ) over electronic platforms and under ZERO oversight or jurisdiction of the CFTC?

We can all thank the likes of House Reps, Ewing and Bliley for that along with their counterparts in the Senate such as Dick Lugar, Peter Fitzgerald, Phil "Enron" Gramm, and Chuck Hagel.

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

Absolutely brilliant!!!
More...

Excellent points.
 
Quote from ByLoSellHi:

Just watched his interview by Greta Van Susterin...

...I watch Faux News out of curiosity from time to time.

I find it interesting that Trump is telling 'ole Greta that there simply is no money circulating from the banks to businesses or consumers, and that Bush has created an almost inevitable depression-to-come.

I'll try to post a video link when I find it.
More...
This is why he is so pissed......... http://www.elitetrader.com/vb/showthread.php?s=&threadid=144460&highlight=trumped
 
We are in the 50/50% for either a recession or depression.

The markets will signal long before. If the SP 500 breaks to the 500 level, INDU to 7000/6900, could force the chance in favor of the depression.

Nevertheless, if you do not have "Chips"stacked up, assets that can survive a depression, you are fubared. If you are in debt, car, home, credit cards and you live beyond your means, your screwed either way.

Unemployment will reach far above 10% IMHO. We are at 6.5 now. 09 will see the biggest layoff numbers in the history of the US.
 
Quote from EMRGLOBAL:

We are in the 50/50% for either a recession or depression.
More...

Depression, no doubt. No recession has ever gained this momentum and NOT turned into depression. Not one. And with the Fed's little bag of tricks all but used up, my shorts are in.

Unemployment is already at 13%, if you measure true numbers before Clinton toyed with them to make them look better than reality. I'm no gloomer, bring it, I make money either way.
 
Quote from Landis82:

Why not put your partisan politics aside for once and ALSO acknowledge the "Commodity Futures Modernization Act of 2000" which allowed for the creation of $35 TRILLION in credit default swaps trading "unregulated" without any oversight whatsoever, AND the trading of power and energy contracts ( ie. ICE for WTI trading under the good folks in Dubai and London ) over electronic platforms and under ZERO oversight or jurisdiction of the CFTC?

We can all thank the likes of House Reps, Ewing and Bliley for that along with their counterparts in the Senate such as Dick Lugar, Peter Fitzgerald, Phil "Enron" Gramm, and Chuck Hagel.

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

Absolutely brilliant!!!
More...


If dereg was bad, then reg must be good.
Oops, fnm and fre were regulated. By Barney Frank and co.

The question is, why would anyone think that letting Barney Frank and co regulate wall street credit swaps would work out any better than their regulation of fnm?

Since the requirement of fnm to guarantee lousy loans was at the heart of the whole thing, I think it not only bears prime responsibility, but more like 90% of the responsibility. The other 10% would go to wall street not hedging or reserving for their swaps properly, cheating mortgage loan originators, and bs credit rating agencies that rated this crap as creditworthy. But, NO REQUIREMENT FOR AFFIRMATIVE ACTION LOANS, NO CRISIS.

If these loans would not have been made, and if the ratings agencies had not deemed them creditworthy, then credit default swaps would not have stunk up wall street.
 
You must log in or register to reply here.
Back
Top