July 23, 2019 03:44 PM RSS

Rebel Yell: A Trump Presidency Would be a Disaster

Rebel Yell: A Trump Presidency Would be a Disaster

Trump is a compulsive lying megalomaniac that represents a fascist bigoted threat to this country.

Trump's threats of imposing 35% tariffs on Mexican and Chinese imports could plunge the world into a worldwide trade war - causing an economic depression.

Geoff Garbacz and I are the founders and editors of WallStreetRebel.com. Although we've been working together going on 16 years, our backgrounds and politics are complete opposites. Geoff is a staunch conservative and I am an unapologetic progressive. Geoff often jokes that we have a marriage much like Mary Matalin and James Carville. Despite our political disagreements we both agree on the danger Donald Trump represents to our country.

Last Wednesday night's broadcast of MSNBC's The Last Word with Lawrence O'Donnell included an interview with one of 200 investors who lost on a $32.2 million condo-hotel project in North Baja, Mexico.

The interview was especially notable for two reasons:

First, it zeroed in on a recent lie told to potential voters by Donald Trump. Trump has claimed repeatedly on camera that he "never settles lawsuits” filed against him. You settle one lawsuit and the next thing you know, according to Trump, you'll get sued more frequently.

Second, it showed that Donald Trump is every bit the con man Jeb Bush, Marco Rubio and Mitt Romney claim he is.
The interview on the Last Word featured one of 200 investors who had plunked down 30 percent deposits on suites priced from $300,000 to $3 million in a 526-suite Trump Ocean Resort Baja - just 30 minutes south of Downtown San Diego in 2006.

The project proved to be a disaster and was never built. In 2008, Trump Entertainment Resorts Inc., through a Mexican entity, PB Impulsores, informed investors there were no funds to refund deposits totaling $32.2 million.
The investor interviewed, a retired military veteran, explained how following the bankruptcy, Trump attempted to convince investors that his only relationship to the project was licensing his name for a fee.

Investors were able to determine that Trump used one or more corporate entities to conceal his direct involvement and that when it became clear that Trump would not be able to get away with misrepresenting his involvement, he settled with the investors who had purchased the properties that were never built.

The retired investor described Donald Trump as a "con man" for attempting to claim his only relationship to the project was licensing his name for a fee, when behind the scenes, he had in fact been entirely involved. Trump had been unable to obtain financing from a German bank to start construction of the condo-hotel project in North Baja, Mexico and the project went bust.

Trump Entertainment Resorts Inc., a nine-company related leisure-vacation group, filed for Chapter 11 bankruptcy protection. The holding company listed assets of $2.96 billion and debts of $1.74 billion. The bankruptcy filing was the third in 20 years for Trump-directed companies.

The lies about not being involved directly in the project were compounded by a bankruptcy that didn't just hit, as Trump has described, "greedy, dishonest bankers", it hit 200 private investors; many of retirement age and who were veterans.

Geoff and I came to the same conclusion Wednesday evening that Mitt Romney asserted so eloquently on Thursday afternoon...

"Donald Trump's promises are as worthless as a Trump University Diploma."

Trump's tax cut proposals would add as much as $1 trillion a year to the national debt. His proposals for an alternative to the Affordable Care Act recently listed on his website amount to the ramblings of a middle-school student parroting the far right ideological rants of an angry, southern 60+ white uncle. Trump offers no real solution to the ISIS terrorist threat overseas or domestically. His suggestions to abandon the Middle-East to Russia's Putin amount to insanity.

While Geoff and I are opposites politically, we love our country. We both want a President elected who is capable of doing the job. On the Republican side, we agree that Governor John Kasich of Ohio is the best qualified Republican still in the GOP primary race. Kasich has the experience and has been tested by service as a member of Congress and as a twice-elected Governor of Ohio.

Unless a miracle takes place however, it remains more likely that Donald Trump will be the GOP nominee. The argument that Trump is bringing in so many new voters, enough to make up for those Republicans that will stay home or turn to the Democratic nominee, makes no sense.

Trump's claim he will win both the majority of African and Hispanic Americans is ludicrous. It is more likely that despite the lower turnout and excitement of Democratic voters during the primary season so far - Minority backlash towards Trump in the general election will be more massive than the numbers that materialized for President Obama in 2008.

Trump’s proposal to take Health Insurance away from 18 million Americans will whip up turnout with the all the class of Archie Bunker.

Trump has no hope what-so-ever of winning more than 25% of the Hispanic Vote or 16% of the African American vote. Moreover, as Trump's real nature and disposition becomes clear to general election voters, the risk of a Hillary Clinton landside will grow. No Republican can win the White House with less than 40% of the Hispanic vote.
With all this in mind...

Investors should start considering how to invest with another Clinton Presidency on the horizon. Further, it might be wise to start thinking about how to adjust to the chance that the Democrats will win control of not just the Senate, but the House of Representatives in November.

The Republicans are going to have incredible difficulty retaining Senate Seats in Illinois, Wisconsin, New Hampshire, Florida, Ohio, and North Carolina. A Clinton victory will be disastrous for the Conservative cause because it will set the stage for a gigantic shift in the Supreme Court. It is entirely possible by the 2020 election that the Supreme Court will have an 8-2 even a 9-1 liberal majority.

In that event, voter suppression and restrictions used to gerrymander Congressional districts will be impossible even in the most red of the states. Compounded by a demographic shift from a white majority country to a minority majority, sets the stage for all three branches of the Federal Government falling into control of the Democrats.

All of this will mean big adjustments for investors. Don't get caught asleep. As Bob Dylan would say, "...the times are a changing". Read more at http://www.wallstreetrebel.com

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