this post was submitted on 27 Sep 2024
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Explain Like I'm Five

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ELI5 If Trump is a supposed billionaire why does he keep promoting cheap crap to get money? (self.explainlikeimfive)
submitted 23 hours ago by Don_Dickle to c/explainlikeimfive
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[–] halcyoncmdr 31 points 22 hours ago (1 children)

I'm sure he was at one point, then as he began losing money on terrible ideas, because he's an idiot, he started lashing out into any random crap he could to try and stabilize it. Taking out dozens of foreign loans with inflated numbers, and constantly ending up underwater in those, needing more to further the process, like a debt-based ponzi scheme where no one actually makes any money in the end, not even the banks.

He managed to bankrupt a casino. They basically print money, yet he managed to run one right out of business.

[–] Death_Equity 8 points 22 hours ago (1 children)

He lost the casino because he wasn't willing to play ball with the family. He thought he could be a big shot and say what happens and found out you don't try and cut in on the business of the family without giving tribute.