MAGA in action
I read with curiosity "The Trumps: Three Generations of Builders and a President" and several studies from the accompanying bibliography.
The main text was written by the author back in 2000, and finalized in 2015, in order to be able, in the hope of 2016, to add “a President” to the title.
Those. all the sea of dirt that spilled over to an impressive developer was still to come, and the reality was behind.
The time coverage is solid - 130 + years old and in essence, this is not Trump's biography, but the history of America of the late XIX - early XX century.
There are many outstanding passages, but I would dwell on only one point: the business of Fred Trump.
Donald Trump is the author of motivational literature on how to make sales and get money out of thin air.
In his classic guide, The Art of the Deal, he writes about himself in the following way: “What I managed to build I built with my own work by myself. The initial capital was the money I took from my father ". Elsewhere he casually calls the sum"Only $ 1 million".
First, in 1971 – 1972. In the 20th century, $ 1 million did quite well without the “only” prefix.
Secondly, it is a direct lie.
During their joint business, the father handed over about $ 413 million to the son, half of which went to pay off the debts as a result of the unsuccessful investment of the latter.
So to say "the art of the transaction."
This is a fairly well-studied question that does not require surprise or special explanation.
Interesting here is another: But why so much free money at Trump-Strash?
Gwenda Blair, the author of the opus, leads extracts from the tender procedures for developers of the state of New York, from which it follows that the future president's father was engaged in the operation of large government contracts.
He artificially inflated the size of his construction holding, leased a lot of cheap land and, promising to build social housing, recruited government subsidies.
At some point, Fred Trump had government loans worth several tens of billions of dollars with an interest rate of <1%, which he, in turn, lent to his contractor further with% 6 +.
Most of his career as a hired manager Trump Jr. lived on this “small” difference, “earning” his father’s business from $ 300 thousand to $ 1,5 million a year, simply by signing all project papers with his name.
Subsidies covered in some cases up to 90% of the cost of construction, including its commercial component.
Did he have no competitors?
Hmmm, it seems.
In 70, Fred Trump was the exclusive recipient of orders for social projects in New York.
Moreover, if you follow the outline of the history of the construction of Palm Beach in Florida in the bibliography, you will suddenly find that 1 was also the recipient of state money.
And this is ... our old acquaintance, Mr. Trump Sr.
He is not the only example in the country, but everywhere there is about the same situation of growing up local elites.
The most natural way to experience America first in practice.
In Chicago and Los Angeles, the 60s had their own Trump, which literally let through tons of dollars.
Many now sin on 90's mortgage auctions, but an auction in form (not meaningful, of course) implies some kind of imitation of market relations.
Here we are talking about the "invisible hand" over and over again choosing the same lucky person under the terms of the competitive procedure.
Lucky, there are no other contenders for $ 1 billion in annual profits.
"The Art of the Deal".
Someone like him, and he threw his 5 kopecks into the piggy bank of state capitalism 🙂
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