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Business Donald Trump Economics

Trump’s Washington, DC Hotel Is Facing Financial Collapse: Report

After the Supreme Court ordered Donald Trump’s tax returns handed over to the Manhattan district attorney’s office on Monday, the failed former president may have thought the news couldn’t possibly get any worse for him. But he was wrong.

Trump’s hotel in Washington, D.C. is also facing complete financial collapse, according to a report from CNN, with correspondent Brian Todd noting:

“It wasn’t that long ago the Trump International Hotel was buzzing, but tonight there are serious questions about its future. With Donald Trump out of office, there now seems to be little to attract guests to his gilded hotel.”

The Trump International Hotel was formerly the Old Post Office Building before Trump purchased and renovated it prior to taking office in 2016. But Todd said the coronavirus pandemic has been a big blow to the D.C. hotel bearing the Trump name:

“Despite its ornate lobby, the Trump International Hotel, like other high-end locations, has been ravaged by COVID. On a recent weekend evening, a CNN employee who shot this video saw decent crowds in the lounge and at the steakhouse, but few people staying in the hotel. The next day during a weekend brunch period, our employee observed the lobby area was lifeless. Scenes consistent with the view from the editor of a newsletter who has kept close track of Trump hotels.”

Todd visited the Trump D.C. hotel and said it appeared almost deserted:

“During our recent visit, a staffer noted it’s normal to have a slowdown at this time of year, but also said because of everything going on it had in a different time. A different time from the days just before Donald Trump was elected president, the Trump International opened, touted as a crown jewel in his real estate empire.”

The entire Trump Organization is facing a severe downturn its revenues, and there are even rumors that Trump’s company could be on the verge of a fiscal meltdown, especially now that no banks will loan him money and no businesses want to be associated with him in anyway.

Looks like karma is finally starting to take a nasty bite out of Donald Trump.

Here’s the video from CNN:

 

Categories
Donald Trump Economics Elections

Trump’s Approval Rating On The Economy Has Collapsed By 15 Points – In One Month!

More bad news arrived Wednesday for the Trump reelection campaign, and it came in the form of a poll which shows that the president’s so-called signature issue — the economy — has now become a liability for him.


The latest Quinnipiac University poll shows that not only is Trump underwater with his approval rating on the economy, he’s also lost a full 15 points on the issue in just one month’s time:

“Voters now give Biden a slight lead over Trump in a direct match up when it comes to handling the economy. Voters say 50 – 45 percent that Biden would do a better job handling the economy, a reversal from June when Trump held a slight lead 51 – 46 percent.”

Even more ominous for the president is that Biden leads him on every major issue that voters say they care about:

  • On handling a crisis, Biden leads by a margin of 57 to 38 percent
  • On health care, Biden bests Trump 58 to 35 percent
  • On the coronavirus response, Biden is up by 59 to Trump’s 35 percent
  • On addressing racial inequality in the nation, Biden leads by a whopping 62 to 30 percent

Voters also say they don’t believe they can trust Trump, with 66 percent noting they don’t consider the incumbent to be honest.

And then there’s Trump’s overall job approval rating, which also shows just how deep a hole Trump will have try and dig out of:

“Voters give President Trump a negative 36 – 60 percent job approval rating, a 6 point drop in his job approval compared to last month. In that June 18th poll, Trump had a negative 42 – 55 percent job approval rating. Trump’s net job approval is his worst since August of 2017.”

What was Trump’s response to the latest bad news from the Quinnipiac poll? He demoted his campaign manager, Brad Parscale, and promoted Bill Stepien to take his place. In other words, he’s rearranging deck chairs on the Titanic, and that’s never a good sign with the election now less than 4 months away.

This is no time for Democrats to get complacent, however. Trump is destroying himself and his chances for a second term, but we still have to organize, raise money, and vote in enormous numbers. That’s how we take our country back and assure ourselves a stronger, safer, and more just future.

Categories
Economics The Trump Adminstration WTF?!

Utterly Clueless Ivanka Trump Says Unemployed Americans Just Need To ‘Find Something New’

First Daughter and senior White House adviser Ivanka Trump has a message for the 40 million Americans who are jobless thanks to the way her father has mishandled the coronavirus pandemic: According to Nepotism Barbie, those people just need to “find something new.”


HuffPost notes that Ivanka is serving as the spokesperson for the Trump administration’s desperate attempt to put a Band-Aid on the suppurating wound that is the U.S. market:

“The campaign is a product of the White House’s American Workforce Policy Advisory Board, which President Donald Trump created in 2018. The board is co-chaired by Trump’s daughter and White House adviser, Ivanka Trump, and Commerce Secretary Wilbur Ross.”


The first ad from the “Find Something New” initiative does indeed feature the president’s daughter, grinning and telling viewers:

“There has never been a more critical time for Americans of all ages and backgrounds to be aware of the multiple pathways to career success and gain the vocational training and skills they need to fill jobs in a changing economy.”

But perhaps the most important message is the underlying one that always comes from this White House: We’re with you all the way, but don’t ask us for any help. That’s the same thing the administration has been preaching during the public health crisis caused by COVID-19 and seems to be the motto of the 2020 Trump reelection campaign: I need your vote, but don’t expect me to do anything for you.

Ivanka’s tone-deaf proclamation was greeted with mockery and scorn on Twitter:

Here’s a helpful tip for Ivanka and the entire Trump administration: We the People are going to find something new for all of you It involves orange jumpsuits and iron bars.

Categories
Donald Trump Economics

Turns Out Trump’s ‘Great Jobs Report’ Was Just Another Of His Giant Honking Lies

In the Rose Garden on Friday morning, Donald Trump simply couldn’t resist taking a victory lap and patting himself on the back when the Bureau of Labor Statistics announced that 2.5 million jobs had been added in May, lowering the unemployment rate, he crowed, to 13.3 percent as the U.S. economy began to emerge from the coronavirus. He bragged:

“Today is probably, if you think of it, the greatest comeback in America history. It’s not going to stop here. It’s going to keep going.”


But, as with nearly everything that comes out of Trump’s mouth, it turns out the figures he spouted were little more than blatant lies, according to The Washington Post:

“When the U.S. government’s official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major ‘error’ indicating that the unemployment rate likely should be higher than the widely reported 13.3 percent rate.

“The special note said that if this ‘misclassification error’ had not occurred, the ‘overall unemployment rate would have been about 3 percentage points higher than reported,’ meaning the unemployment rate would be about 16.3 percent for May.”

But hey, what’s three measly percentage points when you’re a pathological liar like Trump? Oh, only the difference between reliable government statistics and utter bullshit.


Remember when Trump used to accuse the Obama administration of cooking the books when it came to job creation and the unemployment rate? Here’s three examples:

  • “Our real unemployment is anywhere from 18 to 20 percent. Don’t believe the 5.6. Don’t believe it.” (June 16, 2015)
  • “They say 5.3 percent employment. The number is probably 32 percent.” (October 19, 2015)
  • “Don’t believe those phony numbers when you hear 4.9 and 5 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.” (February 9, 2016)

As with everything Trump accuses others of, it turns out he’s actually the guilty party. Such is the case with the incredible job numbers he was busy claiming credit for on Friday.


The U.S economy and job market are both in a deep hole. The current jobless numbers are at levels not seen since the Great Depression. Oh, and nearly 112,000 Americans are dead from COVID-19, thanks in large part to Trump’s early inaction and dithering when the virus hit our shores. Cases are also rising in states (Arizona, Florida) that were slow to shut down and first out of the gate to reopen.

Donald Trump is a complete failure as president. His signature issue, the economy, is now one of his main weaknesses, and he’s having to resort to manipulating the numbers so he can pretend things are going swimmingly.

November 3 cannot possibly get here quickly enough. Let’s vote this lying sack of crap out and get an adult to run the country.

Categories
Donald Trump Economics Elections

73% Of Americans Say Donald Trump Has Destroyed The U.S. Economy

Donald Trump had his reelection campaign all planned out. Since he knew he would never be able to convince a majority of American voters that he was maturing as a leader, he’d just keep talking about how strong the U.S. economy was. Or, as he has so often bragged, “The greatest economy in the history of America.”

But those days are long gone. Coronavirus has laid waste to the national economy. 40 million Americans are out of work, with no end in sight to the financial downturn. An expected recession has turned into the Trump Depression, and the public is unhappy with what they see.


A poll from Navigator Research has some very bad news for Trump, who has almost never gotten more than 46 percent approval, even when the economy was humming along prior to the pandemic.

According to the poll, 73 percent of those surveyed said the U.S. economy is “not so good/Poor.” A number like that isn’t exactly what an incumbent president wants to see this close to an election. Additionally, only one in four surveyed said the economy was “excellent” or “good.” And since Donald Trump is president, that means they blame Trump for crashing his “greatest economy” in the history of the United States.


As for how voters think Trump is handling the coronavirus pandemic, he’s underwater on that metric, too, with 37 percent approving and 58 percent disapproving. On the biggest challenge of his presidency, the American public thinks Donald Trump is failing in his duties.

Deep within the data from Navigator Research is a number that will be especially concerning for the White House and Trump’s campaign team: 10 percent of voters who said they approved of the president admitted they were only doing so because it was important to support a president in a time of a crisis.


So while Trump’s approval rating may be reported as 46 percent by Navigator, if 10 percent are only saying so because of the pandemic, the actual number who approve of him would only be 36 percent. And that could well spell doom for Trump come November.

Americans are feeling severe economic pain and tremendous anxiety about their personal finances. That would seem to spell a big loss by Trump and Republicans when the votes are counted.

Four months out from the election, Donald Trump is the weakest incumbent in a half-century.