Trump has gone bankrupt 6 times, finally understood!

Let's talk about some interesting stories from Trump's past.
Watching Trump repeatedly engage in trade wars,
Silently flipping through his bankruptcy record.

——Wow, this guy is simply a lifetime VIP member of the "Debt Roller Coaster."

From 1991 to 2020, his companies filed for bankruptcy protection six times, each time managing to fool the creditors and continuing his antics under the label of 'bankruptcy veteran'.

Trump's bankruptcy history can be described as "how to elegantly make creditors pay the bill," perhaps this is the live version of "The Art of the Deal."

🔺The story begins with the "iron triangle" of Trump-style bankruptcies, the three casinos in Atlantic City. I wonder if visiting the Taj Mahal reminded Trump of his first bankruptcy.

In 1990, when the "Taj Mahal Casino" opened, Trump managed to build a "eighth wonder of the world" under the pressure of 14% high-interest loans (of course, this was definitely a self-proclaimed title by Trump). As a result, a year later, $3 billion in debt directly overwhelmed the casino, forcing Trump to sell his yacht and plane.

An exciting twist has arrived: this guy passed on his personal guarantee of 830 million in debt to the company, pressing the creditors to "voluntarily" convert their debt into equity at the negotiation table, while he himself collects a salary of several million from the casino each year—when others go bankrupt, they jump down, but he jumps onto a gilded helicopter.

🔺Immediately after, Trump faced a double blow in 1992, as both the Trump Plaza Hotel and the Castle Casino owned by him went bust, with the common reason being "too much borrowing, too little earning."
With the experience of the first bankruptcy, Trump played this time even more flamboyantly:
He quickly transferred 49% of the shares to six banks, then sold the hotel to a Saudi prince, keeping the title of president to continue making a splash—only this time without a salary.
This is not bankruptcy! I clearly see it as a 'creditor poverty alleviation program'!

In the following twenty years, Trump turned Chapter 11 of the Bankruptcy Code into a cheat code (allowing companies to devise a restructuring plan to repay debts while continuing to operate).
🔺In 2004: Trump Hotels & Casinos Resorts went bankrupt with debts of $1.8 billion, and Trump transferred equity to bondholders.

🔺2009: Trump Entertainment Resorts filed for bankruptcy with $531 million in debt due to the impact of the financial crisis, and Trump resigned as chairman and reduced his stake to 10%.

🔺2014: Trump Entertainment Resorts filed for bankruptcy for the third time, and its assets were ultimately sold or shut down.

🔺In 2020: The Trump hotel in Vancouver, Canada filed for bankruptcy due to operational difficulties.

Savor this six consecutive breaks, all are familiar formulas:
14% interest rate junk bonds dare to borrow, a 3 billion hole dare to poke, and their own casinos dare to use foolish tricks to snatch customers from each other.
Clearly, one could rely on real estate for a living, yet insists on going all in at the casino.
Even if the cash flow is about to run out, I still dare to brag about the "slot machine on fire" on CNN's "Larry King Live."

With this gambler-like management style paired with a narcissistic personality, it's no wonder Trump became a living advertisement for bankruptcy law - after all, an ordinary businessman should call it quits after going bankrupt twice, only Trump can practice his artistic signature on bankruptcy documents while going bankrupt.

Now this "God of Bankruptcy" has taken over the White House, swinging the tariff club even more fiercely than when borrowing at high interest rates.

Back then, it was the bank creditors that were being harmed, now it's the American farmers and consumers who are being harmed;

Back in the day, the casino losing money could still make the employees take the blame, but now the expanding trade deficit directly makes everyone pay the price.

The US national debt has now exceeded 38 trillion.

In summary, Trump's business philosophy consists of just twelve characters.

Too much debt is not a worry, too many taxes are not paid, too many pots are not carried.