Eric Trump: Dad started with nothing

Discussion in 'Elections & Campaigns' started by Doug_yvr, Sep 25, 2016.

  1. Doug_yvr

    Doug_yvr Well-Known Member Past Donor

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    Eric is trying to steal the mantle of 'Most Idiotic Donald Offspring' from Donald Jr. Besides the one million dollar start Donald inherited more than 100 million from his father.

    The best bit is trying to compare him to Zuckerberg.

     
  2. cupAsoup

    cupAsoup Well-Known Member

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    Wow, the dooshbaggery is strong with this family. Listening to a silver spoon, soft, spoiled brat talk about his father being a silver spoon, soft, spoiled brat makes me sick. These people have never had to work for a single thing in their lives. How middle class people are finding a way to identify with this family is beyond me.
     
  3. Pipette8

    Pipette8 Well-Known Member

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    Unbelievable! I thought he inherited $250 million from his father. Anyway, Trump and his kids aren't the brightest lightbulbs on the planet. Zuckerberg? Again--unbelievable! Zuckerberg gives away more than Trump is worth. I can't stand Zuckerberg, but can you imagine him putting his name on steaks, and sheets, etc.?
    It is a real head-scratcher wondering why blue-collar workers are mesmerized by this spoil, "soft" (great word), privileged, trust-fund baby who does nothing but beg the banks for money. He keeps saying he's built great structures. He acts like he's walked the 12-inch wide steel beams 700 feet in the air like the construction workers who actually built the buildings did. He didn't build anything. All he did was beg the banks for money. He didn't design the buildings, engineer the buildings, do construction on the buildings, all he did was use the banks money, and the $250 million he inherited to pay for the buildings. He couldn't build a dog house.
     
  4. Borat

    Borat Banned

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    He inherited $250 million in 2000, at that time his own business empire was almost 30 year old and was worth significantly more than that.
     
  5. Paperview

    Paperview Well-Known Member

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    [h=3]
    Trump's false claim he built his empire with a 'small loan' from his father
    [/h]"A big part of Donald Trump’s mythology is that he built a real estate empire by himself.


    Yet his father, Fred Trump, was at one point one of the richest men in America after constructing apartment complexes for the middle-class in Brooklyn and Queens. Donald Trump’s insight was to cross the river and start building in Manhattan, a much more prominent stage for the publicity-conscious would-be billionaire.


    <snip>[h=3]The Facts[/h] The building of the Grand Hyatt hotel in 1978 near New York&#8217;s Grand Central station was a key element of Trump&#8217;s first big deal in Manhattan &#8212; obtaining an option on old Penn Central railroad properties. The new hotel, which replaced an aging Commodore property, helped put Trump on the map.
    There was a nearly $1 million loan from Trump&#8217;s father that was part of the deal &#8212; Fred Trump&#8217;s Village Construction Corp. provided the loan to help repay draws on a Chase Manhattan credit line that Fred Trump had arranged for his son as he built the hotel. But that loan was only a small part of the father&#8217;s involvement in the deal.


    Trump&#8217;s father &#8212; whose name had been besmirched in New York real estate circles after investigations into windfall profits and other abuses in his real estate projects &#8212; was an essential silent partner in Trump&#8217;s initiative. In effect, the son was the front man, relying on his father&#8217;s connections and wealth, while his father stood silently in the background to avoid drawing attention to himself.
    ...

    Fred Trump&#8217;s signature on the guarantee ensured the new hotel would get built. &#8220;No document in the long paper trail attached to the Commodore deal better demonstrated the lack of bank confidence in the Donald or the project, and none made clear the limits of his promoter role,&#8221; Barrett wrote. Trump simply did not have the credit or connections to obtain such financing on his own. &#8220;It was Fred&#8217;s two-decade-old relationship with a top Equitable officer, Ben Holloway, that had helped entice them to do the project.&#8221;

    Donald Trump makes no mention of his father&#8217;s secret &#8212; and essential &#8212; role in his 1987 memoir, &#8220;The Art of the Deal.&#8221;


    In 1976, The New York Times published a fawning profile of Trump in which he was quoted as saying he was worth $200 million, even though he was only 30.
    <snip>

    Trump also benefited from three trusts that had been set up for family members. In 1976, Fred Trump set up eight $1 million trusts, one each for his five children and three grandchildren, according to the casino document. (That today would be worth about $4 million in inflation-adjusted dollars.) The 1976 Trust paid Trump $19,000 in 1977, $47,200 in 1978, $70,000 in 1979, $90,000 in 1980 and $214,605 in 1981. Trump also received about $12,000 a year from a 1949 trust set up by his father and nearly $2,000 a year from another 1949 trust created by his grandmother. He also received a $6,000 gift every December from his parents.



    [h=3]The Pinocchio Test[/h] Trump&#8217;s claim that he built a real-estate fortune out of a &#8220;small&#8221; $1 million loan is simply not credible. He benefited from numerous loans and loan guarantees, as well as his father&#8217;s connections, to make the move into Manhattan. His father also set up lucrative trusts to provide steady income. When Donald Trump became overextended in the casino business, his father bailed him out with a shady casino-chip loan&#8212;and Trump also borrowed $9 million against his future inheritance. While Trump asserts &#8220;it has not been easy for me,&#8221; he glosses over the fact that his father paved the way for his success &#8212; and that his father bailed him out when he got into trouble.

    For ignoring and playing down the substantial advantages his father&#8217;s wealth gave him, Trump earns Four Pinocchios.
    [h=3]Four Pinocchios[/h]
    [​IMG]
     
  6. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    The big lie us that Trumpeizda got a hell of a lot more than $1 million to start. Reports gave it as $40 million.
     
  7. Pipette8

    Pipette8 Well-Known Member

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    Oh. Well that makes a difference. It was only a million dollars sometime back in the 70s which means it was, in today's value, worth about $6.2 million. You would have to be an abject retard not to get richer after inheriting that much money.

    What is hilarious is that Trump said he 'didn't have it easy' because he only got $1million. He doesn't have a clue as to what sacrifice means, or what 'not having it easy' means. He is unbelievably clueless as to what the real world is about.
     
  8. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    The hey us the guarantee of a line of credit that Trumpeizda,s father Fred Trump arranged so that formed the basis for the Trumpeizda to get the mega loans.
     
  9. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    Ask this people who had their money stolen from them in the FU affair. That is Fraud University which is officially Trump Univerity set up to steal money from people who were desperate and conned by the Con Man of Queens.
     
  10. Borat

    Borat Banned

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    He was certainly born into a wealthy family, are you seriously going to hold it against him? That said, he played his cards right. Manhattan real estate is a cutthroat business and he has succeeded beyond anyone's wildest expectations, having turned whatever loan he got from his dad into an enormous multi-billion dollar global empire and a brand name, employing tens of thousands of Americans in the process.
     
  11. Gatewood

    Gatewood Well-Known Member

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    I'd rather ask why the Clintons give only 5% of the countless millions they receive as charitable donations to charity and why they are pals with countries who treat women horribly, Hillary being such a champion of feminism and all. Oh but then again, considering how she attacked the women that Bill raped . . . she isn't really a feminists after all.
     
  12. MVictorP

    MVictorP Well-Known Member

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    My god - Trump's spawn is already sold out to PR.

    On the other hand you can't blame somebody for defending his father, may he be the worst individual that ever lived.
     
  13. Pipette8

    Pipette8 Well-Known Member

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    I am confused. I had to file bankruptcy 30 years ago because I was broke. What would you call a man who filed for bankruptcy four times--four times broke, or a good business man? If the Clintons had filed for bankruptcy four times, or even one time, you would be having a field day with that, especially if they had stiffed workers, and small contractors.

    The man thinks his life was hard, and that he has sacrificed because he only inherited $1million ($6.2million in 1970).

    He doesn't have a clue as to what life for the average blue-collar worker is, and he doesn't care. He is just feigning his 'love' for middle-class Americans. He could care less, and if he is elected, you will see him throw you under the bus. He already is throwing you under the bus. Is whole campaign now is wooing the black vote by promising to rebuild the inner cities. With whose money is he going to do that? Do you really think he is going to bring jobs back to America? Corporations can do what they want, and building factories in inner-cities to give work to blacks is not what they want to do unless they feel like deducting as a major loss this largesse from their income taxes. Very little of what he said is doable or it would have been done before. He is a demagogue.
     
  14. Junkieturtle

    Junkieturtle Well-Known Member Donor

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    Those were the only American jobs he couldn't outsource because they, if those "thousands" of American jobs even exist, were jobs that required the employees to be in a specific location because they were service oriented jobs. If he could have outsourced that to a foreign country, you better believe he would have. And you better believe it because that's what he did whenever he could, not because I said so.

    But you don't actually care about any of this job stuff anyway, you don't live here. I'm not sure what singular issue drives your defense of Trump but based on your posts that I've read I'm fairly certain it has something to do with foreign military policy. If you were thinking clearly, that would be the thing about Trump that scares you the most. His reckless foolery is liable to get thousands, if not and hopefully not more, of American men & women killed as he discovers the joys of commanding a military from his ivory tower just like George Bush II did. Only Trump is much more of a loose cannon than Bush was. Bush was just an idiot, Trump is a full-on gas leak just waiting for the right spark to explode. It won't take much prodding from foreign leaders to get him to fly off the handle, running his mouth, making threats, and as soon as that massive ego of his gets bruised, he'll have the power to command tens of thousands of American soldiers to march out and defend his honor. Because that's what it will be about, defending HIS honor. Not the nation's, not any person or thing, but himself alone. Because that's who he is. A narcissist whose only loyalty lies in his obsession to see himself praised and worshiped by everyone, including his enemies.

    Glad you approve of him. Unless he brings war to your country you won't have to live with much of the fallout.
     
  15. MVictorP

    MVictorP Well-Known Member

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    It does not to demean his other qualities, if any - it's simply to say that the man have no idea not being rich means. He must think that having such an amount of money is the norm. He must believe that people live in hovels and half-destroyed neighborhoods by either personal choice or bad taste.

    (This is also true for Clinton, BTW)

    I don't believe he was as successful as you say. I have seen articles that claim that he could have done more by doing nothing. And there those other claims... the ones about his "alternative" buziness ethics...

    It takes more money than efforts or good ideas to make money these days.
     
  16. Pipette8

    Pipette8 Well-Known Member

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    He has "good people" doing the hard work for him; and most of what he says he owns isn't his. These structures just use his name. He markets his name and that is all. He is better suited for a reality TV show.
     
  17. SiNNiK

    SiNNiK Well-Known Member

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    Perception is key. A million dollars to a billionaire would be nothing. Enough money to buy a car with.
     
  18. Borat

    Borat Banned

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    Virtually every american business outsources, thanks to Bill and Hillary Clinton who passed appropriate laws, started the trend and are yet to see a trade agreement they don't like. American businesses have to compete on the level playing field or face insurmountable disadvantage against their competitors. Trump wants to change the rules and make outsourcing unprofitable for all businesses, not bankrupt his business.

    That said, tens of thousands of American people put food on the table due to their employment with 270 successful Trump businesses, meanwhile millions of americans have lost their middle class jobs to outsourcing - due to Hillary and her devotion to her donors, lobbyists and special interests.
     
  19. Borat

    Borat Banned

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    Good for him. I am glad we agree he is a smart shrewd businessman who knows how to maximize his profits. That certainly beats our career politicians who squander trillions of borrowed dollars while happily sending millions of American jobs to China and Mexico in order to please their donors and lobbyists.
     
  20. Pipette8

    Pipette8 Well-Known Member

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    Nothing I said implies that I think Trump is a shrewd businessman. I think he is an extremely lucky trust fund baby who for some reason refuses to publish his income taxes. What is he hiding, that he is a stingy, lying, greedy, insider?
     
  21. Borat

    Borat Banned

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    Nonsense. Those articles are based on him investing a ton of money (that he had to earn in the first place) at the absolute perfect bottom of a stock market downturn, withdrawing them at the absolute top of the market bubble, not eating not paying rent, not spending a dime during 30 years (because every penny is invested), not paying taxes on his stock market earnings....

    True but in the context it's a logical fallacy, it does not mean that having money assures making more money. There is a saying - 'a fool and his money are easily parted'. Trump and his money were not parted, in fact he turned the initial loan and the opportunities presented to him into billions.
     
  22. Borat

    Borat Banned

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    Having "good people" work for him, selling his brand name, using all sorts of other means to maximize profit is what smart shrewd businessmen do.
     
  23. Junkieturtle

    Junkieturtle Well-Known Member Donor

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    Do you really think it was the Clinton's who pushed for the outsourcing? They were simply the means to the end. The people who really wanted the outsourcing are the business leaders themselves, a group which Trump himself belongs to. Think about it. The Clinton's didn't really personally profit from that, not really, the business leaders did because they got a lot of cheaper labor out of it and without having to give anything up for it, at least in the short term. In the long term their outsourcing will be the cause of the loss of the middle class America that buys their products, but greed tends to blind you to anything but short-term gluttony. Trump played ball just as much as the rest of them, profiting from it because that's what self-obsessed people do. They personally profit at the expense of others because their only allegiance is to themselves. Trump had every opportunity to not just give lip service to the cause of American job growth, but to actually do it, but he didn't. He chose to outsource labor, making himself as much a part of the problem as anyone else who's done it, but now he thinks he can be the solution.

    Problem is, even with a reduction in regulations and taxes, it will still be cheaper to make products in foreign countries where wages are much lower. Wages will never be as low here as they are there, and expenses will always be higher because businesses have to buy things from other businesses, who also want to squeeze as much profit out of the economy as is possible. The only thing Trump and other business leaders want to do is make it even cheaper to profit, so what you will likely see is not them bringing jobs back to America but rather removing what hurdles might remain that currently limit their ability to profit with things the way they are. Bringing jobs back to America means less profit, which means that ain't going to happen. You fool yourself if you think Trump means to help the working class, because as far as he's concerned, they are just people he uses when he needs them, such as workers making (*)(*)(*)(*) wages in the factories that produce his products....or in the form of a foolish electorate that he impresses with his bank account and who think that because he's rich, maybe they'll get some more money in their lives too. They'll get (*)(*)(*)(*) on by Trump as much as any other business leader because companies looking to make a profit don't want a working class they have to share them with.
     
  24. Borat

    Borat Banned

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    You are most certainly correct that it was the push from the business community.... What you are missing is that the Clintons are public servants and if they neglect the interests of the American middle class in preference of the top 1% they both should be fired on the spot.

    Lest we forget that in the 90s, when NAFTA was signed, Trump was basically a relative nobody, he certainly had no real influence in Washington. The manufacturing, automobile, software, pharmaceutical, energy, financial, publishing industries were and still are the major promoters and beneficiaries of outsourcing, not Donald Trump

    And at any rate, right now in this presidential campaign, outsourcing is part of Trump's platform, not Hillary's who is in bed with her donors and who is still a staunch supporter of trade agreements that have proven to increase the national debt and cause massive job losses.
     
  25. Margot2

    Margot2 Banned

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    Almost 30? LOLOLOL He got a million dollar loan from his father years earlier.

    Trump is a phony.
     

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