I hope everybody had a lovely 4th of July and will enjoy some barbeque this weekend.
NASCAR has joined the Donald Trump pile-on and has announced it has changed an awards banquet venue because of his remarks about Mexicans. It appears The Donald is genuinely surprised by this. Yesterday he said he knew campaigning could be rough, but he didn’t think it would be this severe.
“I knew it was going to be bad because I was told this. All my life I have been told this: If you are successful, you don’t run for office,” Trump said in an interview onFox News, addressing the recent spate of businesses that have severed their relationships with his brand. “I didn’t know it was going to be quite this severe, but I really knew it was going to be bad.”
See, all these companies — NBC, Macy’s, Serta, etc. — are turning on The Donald because he is successful. And how did he get successful?
Trump was born in New York City in 1946, the son of real estate tycoon Fred Trump. Fred Trumpâ€™s business success not only provided Donald Trump with a posh youth of private schools and economic security but eventually blessed him with an inheritance worth an estimated $40 million to $200 million.Â It is critical to note, however, that his fatherâ€™s success, which granted Donald Trump such a great advantage, was enabled and buffered by governmental financing programs. In 1934, while struggling during the Great Depression, financing from the Federal Housing Administration (FHA) allowed Fred Trump to revive his business and begin building a multitude of homes in Brooklyn, selling at $6,000 apiece. Furthermore, throughout World War II, Fred Trump constructed FHA-backed housing for US naval personnel near major shipyards along the East Coast.
In 1974 Donald Trump became president of his fatherâ€™s organization. During the 15 years following his ascension, he expanded and innovated the corporation, buying and branding buildings, golf courses, hotels, casinos, and other recreational facilities. In 1980 he established The Trump Organization to oversee all of his real estate operations.
Trump eventually found himself in serious financial trouble. In 1990, due to excessive leveraging, The Trump Organization revealed that it was $5 billion in debt ($8.8 billion by some estimates), with $1 billion personally guaranteed by Trump himself. The survival of the company was made possible only by a bailout pact agreed upon in August of that same year by some 70 banks, allowing Trump to defer on nearly $1 billion in debt, as well as to take out second and third mortgages on almost all of his properties.Â If it were not for the collective effort of all banks and parties involved in that 1990 deal, Trumpâ€™s business would have gone bankrupt and failed.
In other words, it didn’t take exceptionally hard work or brilliance.
In our culture, to paraphrase a line from Michael Shaara, there’s nothing as close to a god on earth than a billionaire CEO. I’m sure The Donald has gotten away with saying anything he wanted to say and being the biggest asshole he could be, and nobody has dared correct him. And at this point he’s turned into a caricature of himself.
FYI, the Donald is currently at the top of the GOP presidential contender polls, at 13.6 percent. Jeb Bush is second, at 13.3 percent. The next three are Ben Carson, Marco Rubio and Rand Paul. Scott Walker has fallen to sixth place, at 8 percent. Republican voters relate to mean and stupid, apparently.