Eric Trump: Dad started with nothing

that is the way Trump ran his own businesses, shipping jobs overseas.... he is a billionaire, so he is not doing it to put food on the table, it's pure greed

other then his one daughter (that he says he would marry if she was not his daughter), was he involved in the other children's lives?

what Trump did to contractors and others for the 'sport' of it, is sickening imo

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We're finishing up on eight years with a "Mr. Nice Guy"--what has it gotten us?

 

I'm not bitter about working my way through school. On the contrary, it was a character building experience.

The issue raised by the OP is whether Trump started with "almost nothing". That is patently not true.

Trump is equally out-of-touch as evidenced by his comment that he has "made sacrifices" (in comparing himself with Gold Star families) by virtue of the fact that he has built some towers.

 

I think his reference to making sacrifices has more to do with his abandoning his business empire to run for President.

In many Muslim countries, by the way, non-Muslims are not allowed in the military, as it is seen as a way to gain power, and they don't want nonbelievers to have that.

 

But do you agree with the statement that Donald J. Trump started with "almost nothing"?

 

He apparently started with a loan - IOW, less than nothing.

Of course, the ability to borrow, and his experience in a family gave Trump many advantages.

 

So a $1 million loan from his father (which was the first loan - later loans were $14 million) plus countersigning loans and guaranteeing other loans is starting with almost nothing? You are aware that Americans who truly have almost nothing cannot get $14 million in loans from anywhere, let alone from their father?

 

Labor likes Trump because the Clintons have really screwed labor.

 

I never challenged the fact that his father gave him a million dollar loanT. his was not to start a business. Donald was about to miss a payment on a project, and dad bailed him out.

Dad would bail him out repeatedly over the next twenty years.

When he overbuilt in Atlantic City and the banks were getting ready to cash him out, the banks insisted that Fred Trump sign a $400 million personal guarantee to bail his son out (again).

Otherwise, Wall Street would have cashed his chips in the 1990's like any other crooked overextended developer.

Yes, Trump borrowed a million. But he didn't build an empire with it. He covered a short term obligation with it.

He would borrow millions more from his dad, and eventually be handed all of dad's holdings.

So, yes, he did borrow a million.

But the idea that he borrowed a million and built an empire out of it is one of his favorite lies. And it is a lie.

 

He is quite obviously still heavily emersed in his business dealings. He hasn't sacrificed anything. He wouldn't know what it means to sacrifice.

 

Certainly not as most Americans would define that, but proportionally speaking, compared to what Trump claims to have now, it's somewhat similar to a kid from an average family being given a car by his or her parents upon graduation from high school.

Many people, when they are given money or resources, simply spend them or use them up. They don't build companies. A million is helpful, but really doesn't go that far when doing what Trump has done. A million back then would probably have built one medium-sized junior high school, if that--not skyscrapers, etc. It takes risk taking, focus, and determination to grow a business. And a lot of work.

 

Read my post again - not "almost nothing". Why misquote me when the text is right in front of you? A loan is a liability - it is less than nothing.

Please note that I do list it as an advantage for Trump. Trump has had many advantages in life. Nevertheless, he started with less than nothing - he started in the hole.

 

So his starting capital was $1 borrowed million and he turned it into billions. I am not sure what you are arguing about. Businesses finance, refinance, get loans, provide collateral, sometimes fall on difficult times, scramble for money, sell stock, mortgage properties, even go into chapter 11 etc all the time... running a major business is a very difficult road with lots of bumps to travel....

One thing is undeniable, of all the thousands of offsprings of wealthy NY, LA, Boston etc real estate developers, it was Donald J. Trump alone who has built a multi-billion dollar global empire.

 

And "giving" the kid a car, an asset, is not the same as loaning him money.
A loan is a liability not an asset. Trump started in a debt hole.

 

I doubt his campaign schedule has made that possible, but of course he is still identified with his businesses and probably will be until his job as President takes all of his attention--as it will. He has clearly stated he is leaving his business affairs for his children to manage.

IMO Trump will show much more skill at delegating authority than Hillary; his ability to teach his own children how to manage his businesses and then trust them to do just that is informative. During the debate, Hil kept mentioning the plans she had developed. IMO the best way to get things done in a multi-faceted job is to sketch out the main tasks, find people that can do them, and then let them handle the details, with occasional quality checks. More motivation and energy to get things done develops that way.

 

No - a $1 million loan is not being "in the hole". It is not "less than nothing". Yes, there is the liability to the bank (or your father), but you have $1 million in your hand.

People who are really struggling have no chance at all of getting the huge advantage in life that Trump started with.

It is simply ridiculous for anyone to claim that he started with "almost nothing" (or "less than nothing"). He has done well, to be sure, but that part of the narrative is false.

 

True enough, and everyone who tries hard may get a shot at upward mobility.

However, there are so many variables to take into account as to the possible outcome of one's venture, that it becomes unfair to either entirely own your success (in case you become successful, that is to say: rich, I presume) or to own your failure (seeing that someone luckier than you may have been successful).

What I'm driving at (after all this gibberish ) is that successful people should be more candid when looking back on their success since they rarely take into account the moments when their success was mostly due to the luck of being at the right place at the right time.

That's why a person like Donald Trump -or his son- should be more humble when they talk about their families success.

And as I'm writing this, I realize that this ship is sailed, we'll sooner see chicken with breast implants than an humble trump.

 

The two smug dooshbag adult sons are almost as replusive as trump himself.


The one on the right looks like he has an IQ of around 70

click on photo to enlarge

 

as much as he could with the do nothing republican congress he had

 

Strictly speaking, sure.

But -99%- of Americans will never have the opportunity Trump had, because -99%- of Americans can't get a loan for 1 Million, plus multiple bail outs, from their dad, who very clearly won't be sending him to collections, or suing him, like a normal Lender could.

The comparison isn't even remotely fair to make, and you ought to stop doing it, because it's bull(*)(*)(*)(*). This is not equal opportunity. It's a rich guy loaning money to his son, who then becomes rich. Yeah. Sounds like a punch line most americans can identify with.

 

Your starting premise seems to be stubbornly repeating a discredited lie.

Trump did not borrow a million to start any kind of business. His daddy bailed him out of one of his frequent cash flow crises with a loan of a million, just as daddy would bail Donald out repeatedly over the next twenty years.

Trump is not the captain of a major real estate empire. He isn't even in the top ten in New York. Most people are fairly convinced that Trump isn't worth anything close to his ten billion dollar self proclamation.

Trump was easily tricked into rattling on about his exposure on certain deals last night. Given his penchant for lying and fake claims, there is no reason to think anything he said was remotely true. But since he keeps his finances secret, the only way you have of knowing is to read his financial disclosure, which can't be verified in any meaninful way, and has openly been called into question.

Of course, I have noted before that few of the buildings that have Trump's name on them actually belong to Trump. And of course, you've touted a list of paper companies with no assets,, no empoyees, and no products as sucessful businesses.

Wall Street won't do business with Trump. They know he's a scumbag. That's why he hangs with shady Russian gangsters.

 

Nanny's and handlers raised his kids, just like he was raised. It's no wonder his personality is at is is.

 

Are you saying Trump started his own business without his father's money and just needed to borrow a million later during a temporary cash flow problem? Hmm your version is actually better than Trump's, it does confirm the title of this thread that Trump started with nothing lol

Your constant hysteria about family loans notwithstanding, getting a loan is the most routine, typical thing businesses do. Collateral or guarantees to get the loan is the most routine and typical requirement banks have when approving business loa loansn. Good for Trump that he could arrange all that cheaply and easily within the family, he'd be an idiot not to.

You should learn a thing or two about business before making these grotesquely absurd laughable claims that a billionaire many times over is a bad businessman because he took out loans duh

 

No, daddy set Trump up in a business and he almost ran it into the ground, as he would subsequently do with his casinos. Daddy bailed him out both times.

And you only get loans from daddy when banks know you're bad news. And daddy is the lender of last restort because Donald already squandered the collateral. There's nothing routine in business about running to relatives for a bailout.

When daddy bailed Trump out of Atlantic City, there was no collatoral other than Fred Trump's credit. Donald didn't have any. He doesn't have much now.

With regard to these claims, Clinton was actually quite generous to Trump. She could have easily nailed him for a lot of his dealings, and she still has plenty of dry powder when it comes to that.

Trump has always been a shady and extremely dishonest man.

https://www.washingtonpost.com/news...his-empire-with-a-small-loan-from-his-father/

 

His nannies probably had nannies