Quote:
Originally Posted by Morton Jr
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Trump was already richer then he ever needed to be before running.
Our economy has had 4 years of growth that were records across the board.
Almost every mutual fund fidelity has is 30% + For the year, 2 are over 50 and one is 61%
Did i miss something? Or are you a dirt poor democrat with nothing in the bank.
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Lol I work on Wall Street, I know him and his family personally and have hung out with him/played golf with him multiple times (pre-Presidency of course). I voted for him in 2016 for monetary reasons, none of which actually panned out. If you think Fidelity mutual funds are a primary gauge of anything, well, not really sure what to say to that haha; I also don’t think you understand the concept of certain expectations (as well as actions not taken by the President) being priced into the market.
He’s not actually cash rich. He funds most of his endeavors through his former charitable foundation, siphoned funds that private investors put into his property development projects (one of the things the southern district will investigate him for when he’s out of office in 2 months), taking out new loans, and now his new PAC that he’s already started taking personal funds from. Most of his actual cash comes from loans that he uses his properties as collateral for, which isn’t that terrible a way to live as long as you can pay down the prior loan with the new loan, but he’s not some super cash rich genius businessman...he really has pretty poor business sense overall. And he’s going to be screwed in two months because once he’s under all these criminal investigations banks won’t loan to him so he won’t be able to pay down existing loans that he takes out to fund his lifestyle.
He inherited a good economy from Obama and due to his total bungling of COVID we took tons of losses on Wall Street this year and it’s a toss up if we’ll see consistently quick recovery over the next 12 months.