Why is Trump So Desperate to ‘Reopen’ the Country? His Net Worth Has Dropped 30%

For at least two months Donald Trump negligently ignored the mortal threat that COVID-19 (coronavirus) posed to the people of the United States and the world. He mocked its lethal consequences, dismissed its capacity to spread, and lied to the American people when he said that it was “under control” and would soon go away by itself.

Trump Baby on Cash Pile

Compounding his lies at the outset of the outbreak, Trump later tried to boast that he always took the threat seriously and even called it a pandemic before others were doing so. Not only is that brazenly false, it would actually be even more damning if true. It would mean that he recognized the danger early on, but failed to act.

Eventually it became impossible for Trump to pretend that there wasn’t a severe public health hazard on his hands. So he assembled a Coronavirus Task Force to address the problem, but then decided against letting them do their job. He hijacked the daily briefings and turned them into campaign events for his 2020 reelection. And our reality TV game show president assessed their value by tracking the Nielsen ratings, as if they were an indicator of his popularity. They most definitely are not.

As the fallout from the pandemic escalated, Trump noticed that it was having a negative effect on the economy. And that’s when his concern kicked into high gear. On March 4, just as the stock market began it’s historic slide, Trump floated a proposal to “reopen” the country by Easter, a date that no public health expert would endorse. By March 24, the day after the stock market had completed a decline of 11,000 points from its recent high only a month prior, he began using reckless and callous rhetoric about not allowing “the cure to be worse than the problem.” That suggests that he believes a weak economy is worse than tens of thousands of people dying.

Trump repeatedly insisted that the nation must return to business as usual within a timeline that was grossly unrealistic. The question is: Why was Trump so adamant about this? Did he really have compassion for the working people of the country who were being subjected to such brutal hardship? Was he worried about the future health of the corporations that support much of the economic infrastructure of the nation?

Doubtful. Trump has never expressed any such sympathies during his term as president or his decades in public life prior to that. It’s unlikely he had some sort of personal epiphany that altered his life-long character, or lack thereof. No, the real reason is the one that is the most obvious.

It is now being reported that Trump’s personal net worth has declined by about a billion dollars. That would represent approximately 30% of his fortune as estimated by Forbes. It’s difficult to provide a precise estimate because after three years as President, Trump still refuses to release his taxes. There must be something truly hideous in there.

Trump’s assets are predominantly in commercial and residential real estate, hotel licensing and management, and golf courses. All of these businesses are especially vulnerable to the consumer pullback caused by the “stay at home” orders issued in at least 42 states in order to “flatten the curve” of the pandemic spread. So it isn’t just coincidence that Trump’s concern crept up just as the economy slumped down. As reported

“It’s unusual for Trump to lose money because of his presidency. He’s used his position to promote his hotels and resorts, even going so far as to try to host the next G7 summit at the Trump National Doral golf resort near Miami. The Secret Service often stays on Trump properties when the president is on vacation, paying room and board directly to the president’s private business, sometimes as much as $650 per night for a single room. Of course, the hotel industry has been one of the hardest hit by the global economic downturn—including the Trumps’ DC hotel, which had a steady revenue stream from foreign governments looking to curry favor with the American president, and was up for sale up until the current economic crisis.”

Prior to the emergence of the coronavirus, Trump frequently tried to pressure the Federal Reserve Board to lower interest rates. His stated intent was that it would give a boost to the economy. The truth is that Trump was only seeking to reduce his own fiscal burden. He is carrying more than $350 million dollars in variable rate loans from Deutsche Bank and other lenders. So he benefits significantly when rates go down. He also hoped that such a move would juice the stock market which would aid his reelection prospects. But when the Fed did cut rates, the market nosedived, recognizing that it was a sign of trouble ahead in the form of a recession or worse. Trump’s flagrantly self-serving pestering of the Fed backfired.

So whenever you hear Trump whine about how “our country wasn’t built to be shut down” – a bizarre comment that implies that other countries were built for that – remember that Trump’s concern was only triggered with a conspicuous connection to his own financial welfare. The American people do need the country to return to its former stability and growth as quickly as possible. But first they need to ensure the health of themselves, their families, and their communities. And Trump’s rush to superficially attend to the economy, at the expense of public health, must be seen for what it is: unvarnished, self-serving greed.

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8 thoughts on “Why is Trump So Desperate to ‘Reopen’ the Country? His Net Worth Has Dropped 30%

  1. Well perhaps we will see if the coal miners with black lung disease still support the Orange shitgibbon as the Covid viruse does its thing. Trumpster did promise them” the Good old days” back, so I suppose that means disposable employees. Everything a narcissist touches dies. It can be nothing else.

  2. I say remember “cofevfe” a Tweet by a twit? It was after his trip to his ‘be best’ Dictator Kim. Remember he is the very best of all Family Values Republicans, when you vote.

  3. His net worth has dropped 30%? Is that his phoney-baloney imaginary net worth, or his very-much-smaller actual net worth?

    I have an idea for trumpty to do an interview program that would really get him top ratings without having to share the spotlight with Dr. Fauci. Do an interview where he releases his tax returns, and walks us through them. Guaranteed Y-U-U-U-G-E audience! You want big ratings, donnie? Double-dog dare ya!

  4. More along the lines of ALB’s comment:
    Trump’s reported 1B$ decline in “net worth” is said to be only “30%”. [references below]
    But how does Forbes know how big Trump’s debts are? He won’t release his taxes etc.
    Trump has huge debts. He needs to delay repayments to Deutsche Bank for example.
    Trump’s net worth is is real assets minus debts.
    Trump’s net worth (real assets – debts) could in principle have gone negative.
    His asset values shrank, his huge debts did not.
    Maybe he had 10$ in assets but 8$ in debts.
    Now he has 7$ in assets and still 8$ in debts.
    In other words his net worth could now have gone negative.
    A reported decline in such a “fortune” can be greater than 100%.
    In the above example he had 2$ free and clear, now he owes 150% of what he even had.
    There is no limit to the % decline in such a reported (and undocumented) “fortune”. Right?

    Any chance GQ and DailyKos are reporting second-hand a 30% or 1B$ decline in Trump’s real assets?
    Any chance the % decline in Trump’s net worth is much greater than 30%?
    Yor thots?

    Sources:
    https://www.dailykos.com/stories/2020/4/5/1934621/-Why-is-Trump-So-Desperate-to-Reopen-the-Country-His-Net-Worth-Has-Dropped-30
    https://www.gq.com/story/trump-net-worth-tanked-coronavirus

  5. I believe it was during time Trump-a-chump was busy campaigning in 2016, (or maybe right after election?), he got I think it was $350 million loan from Deutshe Bank. I couldn’t think of any other president we’ve had with such “yuuuggge” debts! I wondered if that could have effect on his job? An abnormality for US president ~ 1st of many yet to come with Trump, but didn’t know that yet, so it stood out as worth watching. $350 million loan is helluva lot of money!! Wonder what the payments are for that big a loan? How many years do ya’ get to repay it? A $1-2 million home is 20 or30yr mortgage. I can’t imagine 200-300x that!? (#s are too big to wrap my brain around.)
    I recall seeing in news, how Trump’s loans from that bank were being ‘guaranteed’ by Russia’s biggest State Bank, so if Trump defaulted (as before) Deutsche Bank not ‘screwed’. Russia would pay off the loan. Hmmm…
    Big money plays different than us little guys I guess.
    Now, I read here that Trump’s worth dropped about a Billion dollars cuz’ of this new virus pandemic? “Ouch!” Fitting tho, since Trump has made this whole thing much worse – still is. Sincr only way to cut this short is to flood U.S. with test kits – free for the asking…find & quarantine groups of those who are infected, until test clean. Keep testing everyone & separate them, so the rest of us NOT infected can get back to business, back to work ~ a 2nd stimulus check to start spending $$ & getting back to more normal life, would be a great jump start for our economy revving up again!
    “Stay at home” works but it sux! Not long-term answer. Testing everyone, separating them into groups/facilities if don’t need ICU, until well…keep testing people who want/need it & use social precautions like normally would. Once we find & isolate those with virus, & keep doing it, rest of us who are healthy csn get back to lives, jobs, spending $$$…& virus will run out of new hosts to infect. At least for now. Vigilance is needed until vaccine available! But, not “stay at home”, closing businesses, no spending except for essentials, etc, etc.
    We only have to do that cuz’ we have no idea who may be sick & infecting others, without adequate testing. Most of us are NOT infected & like to keep it that way, but we’d like our lives back too. Right now, they are just on “hold” (with lousy recorded musak).
    Losing 30% of his worth serves Trump right for his lying, denying & not acting swiftly & wisely! And still he just keeps bragging/lying. Maybe even God is tired of hearing Trump’s constant BS!?!
    God knows how to get thru to Trump ~ $$ take his money! $$ LOL

  6. “Our country wasn’t built to be shut down.” ????WTF? The evil one who closed down the Federal Government for a month and didn’t care who got damaged and hurt!!! How is, “I, alone, can fix it,” and, “I do not take any responsibility at all,” working out for you??

  7. I doubt that Trump had three billion Dollars in assets to begin with. I think Forbes has exaggerated his wealth by far. If he had one billion Dollars in assets he has one billion Dollars in debt, which means if his assets were going down thirty percent because of the corona crisis Trump is now broke.

  8. TrumpCo or whatever its callled; is going to declare bankruptcy in 2021 or 2022.
    1) The Vast majority of high earners are Liberals. I say EARNERs; as Heirs to fortunes may skew conservative for having a Social Darwinist philosophy that genetics is reason enough for heirs to have more power and influence.
    2) Trump’s base; is less educated; and isn’t in the cities where Trump hotels would be. Red State tourists to NYC can stay in a Trump hotel maybe…Yeah right, 800$ a night; its Ramada or Holiday Inn, which still costs 250$ a night anywhere in NYC.
    3) MUCH of the income to hotels its been reported consists of rooms paid for with no occupants. Foreign Governments, and foreign and domestic Billionaires are corruptly trying to influence and it most likely works with TrumpCO. That ends when the presidency ends.
    –> When Trump loses in 2020 like everyone expects; there may be continued bribery keeping him afloat; BECAUSE he will spend all of the rest of his life campaigning against Biden and his successor. Trump will run in 2024, 2028. He will Implode the Republican Party; as most of the rest will quit the fealty to a complete moron they’ve been holding their noses about since 2016 Nomination. That ends in 2021; fueds will erupt as Trump is a baby; he will publicly call prominent nonbraindead conservatives RINOS and Commie Terrorist Loving Democrats. His true followers in the cult will follow him. Fox Noise won’t know what the f to do; whether to continue being a cult channel or the Republican Party’s platform.

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