As you may have heard, last night President Obama gave his State of the Union address, in which he mentioned China a couple of times. This, legendary businessman Donald Trump says, “was the low point of the speech.” While Trump pretty much hated the entire thing (there was “no substance whatsoever” and he “didn’t hear anything about all these states that are going to go bankrupt”), it was the China stuff that really grinded his gears. “Totally inappropriate,” the bankruptcy expert told Joe Kernan and Becky Quick this morning on Squawk Box. “What’s up with you and China? What got your dander up,” Joe asked, hoping to lighten the mood. “Did they tell you you couldn’t build a golf course over there or something?” Unfortunately, Donald was in no mood for jokes. Not when it comes to China, or the suggestion anyone tells him where he can and cannot build golf courses.
“Well, Joe, I understand China,” Trump replied, deadly serious. “I’ve done business with the Chinese- and actually done very well to put it mildly- and I know that the Chinese are no friends of this country. I see what’s happening with respect China, with respect to the manipulation and all of the other things. I also buy a lot of products- so many from China. I don’t want to buy from them but I have no other choice….it’s a very unfair playing field and it was inappropriate of the President to praise them.”
“Well we’re in a bit of a tough spot, as consumers,” Kernan offered. “We could do something about it, Joe,” Trump said. “We have all the cards; if we stop buying from China they’ll go into an economic depression like you’ve never seen before. WE HAVE THE CARDS, JOE.”
Trump had other complaints, too. Fiscal irresponsibility. Taxes. Outsiders “stealing from us.” And don’t even get him started on Mexico. But you want to know what the biggest problem with this country is? The Don has a simple anecdote to illustrate.
“I’ve never said this before,” he told Jose and Becks. “But recently, I saw that they were in a tent in the White House, when those two people broke in. And I called the White House and I said listen, you know, I have a ballroom in Palm Beach Florida that’s magnificent. I offered, for nothing, to build them a $50 million ballroom. When a foreign leader comes over, when we host our own people they should be in a ballroom- not a tent. I spoke to a very high official. I said I will build– free!– a 40, 50, 60 million dollar ballroom, for the White House. I said, it’ll be the most magnificent ballroom there ever is- and I never heard from them! THAT is the problem with this country.”
My bonobos have plenty of ballroom
Bret Michaels 2012!!
Bret Michaels 2012!!
Bret Michaels 2012!!
You fucking imbecile……..I know you think you’re cute but, you are not. For the intelligent among you.,,,,,you don.t get rich being stupid. Donald Trump is a brilliant man…….Too bad he is not int the White House. Run next time, Don…….and keep showing us the shortcomings of our present government.
wtf are you talking about?
wow. refrain from commenting/visting dealbreaker when off your meds.
wow. refrain from commenting/visting dealbreaker when off your meds.
yeah, if you’re madoff
yeah, if you’re madoff
get a clue jerkwad
get a clue jerkwad
Ha. I see Wharton grads are sharp as ever… wonder who Donald has lined up to eat up US debt when the Chinese enter his planned “economic depression”.
Businessmen ought to refrain from politics.
Which would make a better Crypt Keeper:
Bill Gross or Donald Trump?
you really are the fucking rake
My dad used to take me to China when he went on business trips. Now, to close deals I always give them Johnnie Walker blue label and tell them its a fine American whiskey even though it’s Scottish.
I’m still in college so I’m still learning, but just so I’m clear, Donald Trump doesn’t mind China going into a depression because cashflow has been replaced by hides from caribou that “Mama Bear” Palin snagged on the hunting reserve, right? They mentioned something about it in my econ class about new forms of currency but I was too busy texting this slam piece spitting some game to lock in a “forward contract for a snuggle sesh”, if u know what I mean.
I’m still in college so I’m still learning, but just so I’m clear, Donald Trump doesn’t mind China going into a depression because cashflow has been replaced by hides from caribou that “Mama Bear” Palin snagged on the hunting reserve, right? They mentioned something about it in my econ class about new forms of currency but I was too busy texting this slam piece spitting some game to lock in a “forward contract for a snuggle sesh”, if u know what I mean.
that’s absurd. there is more that enough demand for U.S. debt outside china. there is not however nearly enough demand for chinese products if its largest export market goes away. you need to think a little more independently my friend
What an arrogant prick.
Da Gran Plaza.
There, I said it. We don’t need another ballroom. They make our dreams come true.
He looks used up.
Is the Donald sturdy enough down low to hold up for a couple of sessions or is he all mush now?
- P. Jiang
Donald Trump is likely the world’s stupidest billionaire. Followed by Bloomberg.
Thanks Ted. Can you explain “you don’t get rich being stupid” I don’t understand.
I don’t think Trump is a billionaire. I remember a few years ago that he claimed a casino represented 2% of his net worth. That casino was already in bankruptcy proceedings. I’m not sure my fellow Americans would prefer to buy the same bicycle for $1,000 with the US union label when we can get it from China for $100. We might hold the cards, but we aren’t going all in with an unsuited seventy-six.
I don’t think Trump is a billionaire. I remember a few years ago that he claimed a casino represented 2% of his net worth. That casino was already in bankruptcy proceedings. I’m not sure my fellow Americans would prefer to buy the same bicycle for $1,000 with the US union label when we can get it from China for $100. We might hold the cards, but we aren’t going all in with an unsuited seventy-six.
If you build it, they will not sell you the naming rights to the new White House Ballroom.
-Guy who sees DT’s real motives
If you build it, they will not sell you the naming rights to the new White House Ballroom.
-Guy who sees DT’s real motives
If you build it, they will not sell you the naming rights to the new White House Ballroom.
-Guy who sees DT’s real motives
Hey Trump, I’ll trade wives with you.
Hey Trump, I’ll trade wives with you.
Hey Trump, I’ll trade wives with you.
He still has money?
He still has money?
He still has money?
He still has money?
He still has money?
But he’d be this country’s smartest politician. Trump for president, 11/6/2012!
- Otherwise busy guy who is not joking in saying that he wold donate fractional portions of his time to a Trump presidential campaign, should one ever come about
as he stood up, he quipped ‘i will stop the motor of the world’
as he stood up, he quipped ‘i will stop the motor of the world’
Good point guest, I mean, there’s always the Fed, right?
do you want the goverment to dictate your paper money or allow the natural ebb/flow of Arctic winters to determine your leather money?
-Papa Bear Schiff
do you want the goverment to dictate your paper money or allow the natural ebb/flow of Arctic winters to determine your leather money?
-Papa Bear Schiff
no, seriously. what he talking about?
when you owe your counterparty 900 million, it owns you.
when you owe your counterparty 900 billion, you own it.
when you owe your counterparty 900 million, it owns you.
when you owe your counterparty 900 billion, you own it.
For anyone who wonder’s about Donald Trump please read below an excerpt of an article by Ryan Chittum circa May 2009.
“The Audit — May 18, 2009 09:46 AM
Deposed Trump Looks Very Bad in the Journal
By Ryan Chittum
The Wall Street Journal has a hilarious story today using Donald Trump’s lawsuit against The New York Times editor Timothy O’Brien to get a damaging look inside Trumpville.
O’Brien wrote a book four years ago saying Trump was worth just a couple hundred million dollars rather than the billions Trump claims, and the Donald sued for “defamation.”
Trump, surprisingly, is actually pushing the case forward and has been deposed. Surprising because… well, see below. My friend Alex Frangos, a Journal real estate reporter, somehow got a hold of the deposition and—let’s just say this—O’Brien doesn’t have much to worry about.
The deposed Trump is a huckster laid bare: A web of spin, delusions, and outright BS—and he admits it.
For example:
Mr. Trump was asked whether he has ever exaggerated in statements about his properties. “I think everybody does,” he said in the deposition. “Who wouldn’t?”
A follow-up question: Does that mean he inflates the value of his properties in general, nonfinancial public statements? “Not beyond reason,” he said in the testimony.
And:
For example, in a November 2007 Wall Street Journal interview cited by Mr. Ceresney, Mr. Trump said he had sold out units at an eponymous condo-hotel project in Hawaii. “The building is largely owned by me,” he said in the interview. But in the deposition, Mr. Ceresney produced the licensing agreement for the project. Mr. Trump wasn’t a major equity holder in the project, it showed, a fact Mr. Trump didn’t dispute.
“Because this is such a strong licensing agreement that I consider it to be a form of ownership,” Mr. Trump said. “I’d rather have this than own the building,” he said. Moments later he said: “I would say that it could be interpreted to be a form of ownership in the building.”
Uh, no, Donny.
And this:
The deposition reveals he told his bankers and New Jersey casino authorities in 2004 and 2005 that he was worth approximately $3.6 billion. In 2005, Deutsche Bank evaluated his net worth as part of underwriting a $640 million construction loan it made to Mr. Trump’s Chicago condo and hotel project. The bank said his worth was $788 million, according to information presented by the author’s lawyers present during Mr. Trump’s deposition.
The only real question left is is Trump in on the shtick or does he actually believe what he’s saying? Let’s hope for his sake it’s the former.
There’s so much material here that this story could really have been much longer, but the Journal packs some more of it into a good sidebar.
Like this:
Mr. Trump told The Wall Street Journal in November 2007 that he sold all 1,282 units at his Las Vegas condo project that he owns with casino and hand-truck magnate Phil Ruffin. There were $1.3 billion in proceeds coming from that project, he told The Journal and other news outlets, including CNBC.
In the deposition one month later, he said he had deposits for around 900 units.
And this:
At the condo and hotel project in Las Vegas, Mr. Trump had told reporters on several occasions that the project sold for $1,300 a square foot on average.
At the deposition, the lawyer, Mr. Ceresney, asks if that sales figure is true.
“For some units it is, yes. We got some — we sold — we got 1,300 — I averaged on some units $1,300 a foot,” Mr. Trump said.
Mr. Ceresney then asked: “Do you understand the concept of an average, Mr. Trump?
And the kicker to me follows a revelation that his signature Trump Tower on Fifth Avenue in Manhattan lost $600,000 in 2006. Having covered real estate for several years, I can tell you this is just astounding:
Asked if he knows how to calculate operating income, he said: “I don’t do that. I really don’t.”
Net operating income is a key metric for valuing commercial real estate. It’s hardly rocket science to calculate, either. Embarrassing.
Nice scoop by the Journal.”
At the time Trump’s casino went bankrupt, every other casino in the country was making money hand over fist. Its a good thing the Donald inherited a fortune from daddy, because this guy would have never made it on his own. Though I do give him some credit for having some balls – telling the banks that it was not he who had a problem, it was them…..
Handsome tie. It should be popular with our customers who appreciate class.
Handsome tie. It should be popular with our customers who appreciate class.
Trump: You know what’s cool?
Hu Jintao: A $1 MM barr-room?
Trump: A $50 MM ballroom.
HJT: Rohhh, roh. Prease spreak more creary.
Trump: You know what’s cool?
Hu Jintao: A $1 MM barr-room?
Trump: A $50 MM ballroom.
HJT: Rohhh, roh. Prease spreak more creary.
Trump: You know what’s cool?
Hu Jintao: A $1 MM barr-room?
Trump: A $50 MM ballroom.
HJT: Rohhh, roh. Prease spreak more creary.
Financial Crisis Commission Blames Geithner as Obama Whistles Dixie http://tinyurl.com/4ge2dfg
Financial Crisis Commission Blames Geithner as Obama Whistles Dixie http://tinyurl.com/4ge2dfg
Financial Crisis Commission Blames Geithner as Obama Whistles Dixie http://tinyurl.com/4ge2dfg
Financial Crisis Commission Blames Geithner as Obama Whistles Dixie http://tinyurl.com/4ge2dfg
The only stupid people are those who keep lending Trump businesses $ given his long and distinguished track record of F’ing them over time and time again.
Incredible. Amazing you have guys like Wynn and then, at the other end of the spectrum, Trump. Wish I had a fat inheritance/trust fund…
Incredible. Amazing you have guys like Wynn and then, at the other end of the spectrum, Trump. Wish I had a fat inheritance/trust fund…
Incredible. Amazing you have guys like Wynn and then, at the other end of the spectrum, Trump. Wish I had a fat inheritance/trust fund…
Bret Michaels used to write for Dealbreaker.
he’s talking about your mom.
- feels that making ur mom jokes is an appropriate way to end a thread on DB
he’s talking about your mom.
- feels that making ur mom jokes is an appropriate way to end a thread on DB
You’re fired!
and nominating him for president would be relevant to this post, how?
I am most impressed by your tiny url.
Yo mama
KrfWlJ Enjoyed every bit of your blog post.Much thanks again. Really Great.