Saturday, February 25, 2017

Trump is Starting to Run the Country Like One of His Many Past Failed Business Endeavors

How to Run the Country: Like a New Trump Board Game

Would you buy a used car from this man??

In his major speech at the CPAC conference Trump outlined what he called his “swift and strong action to secure the southern border by throwing out gang members, drug dealers, and criminal aliens out of the country and let them back in.”
His whole speech is here and the fact-checkers had a field day (reading that will keep you awake at night (smile):

(Note: Until there are more details of the plan and full implementation, much of which will require congressional approval (and funding) estimates remain sketchy. But by any full accounting, the economic costs would be huge).
(Now get this: Recently Trump’s administration backed off earlier pledges to deport anyone in the country illegally with DHS Secretary John Kelly saying: “There will be no mass deportations” right after he met with Mexican officials).
(However, Trump has directed government agencies to, among other things, begin rounding up and deporting anyone in the country illegally, whether or not they have committed serious crimes).
So, no back pedaling about the implementation, um? No Trump double talking flim-flam con-artist sleight of hand tricks, either, right? Yeah, right?
If the U.S. would seek to remove the entire population of the estimated 11 million undocumented workers now in the U.S., it would cost upwards of half trillion dollars, according to one estimate. It could also wipe out a chunk of the American economy roughly the size of the annual gross domestic product of Texas.
The new Trump initiative includes hiring thousands of new immigration agents, building new detention centers and constructing a southern border wall that was a centerpiece of Trump's election campaign.
Breaking down deportation costs in simple terms:
Early last year (in March 2016), the American Action Forum (AAF), a center-right policy institute led by former CBO director Douglas Holtz-Eakin, estimated “it would take between $100 billion and $300 billion to arrest and remove all the undocumented immigrants residing in the country, and the process estimate was it would take 20 years.” (The AAF report is here).
Once those undocumented immigrants were removed, it would take another $315 billion in higher enforcing costs to stop them from coming back and that estimate includes just the hard cost of removing undocumented workers.
The cost doesn't take into account the economic impact that would result from the removal of some 11 million people from the labor force and the resulting loss of consumer spending.
Further, it is estimated that the removal of that many people would shrink the pool of U.S. workers by 6.4 percent, which means in 20 years hence, the economy would be nearly 6 percent smaller, and that works out to a loss of $1.6 trillion in lost wages, spending, and other economic activity. That in perspective is nearly the GDP of Texas in 2016, which was about $1.5 trillion, second only to California's GDP.
Overall what do I think? What do you think?
Seems pretty simple when we compare past Trump failures and double-talking ways even when faced with his own words on video and such. He has had many “huge deals” fall apart, tons of lawsuits against him, dozens and dozens of bankruptcies, and now I fear that his policies for the country will take us down that same rabbit hole with or without the blue or red pill as choices.
Here are some Trump failure reminders – pick any juicy one:
Trump Airlines: In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. That gamble was a bust due to: (1) no interest from customers who favored the airline for its convenience not its fancy new look, and (2) high pre–Gulf War fuel prices – he never turned a profit and the high debt forced Trump to default on his loans. His ownership was turned over to creditors. The Trump Shuttle ceased to exist in 1992.

Trump Mortgage, Inc: In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. He held a glitzy press conference at which his son Donald Jr. predicted that Trump Mortgage would soon be the nation's No. 1 home-loan lender. Trump told CNBC, “Who knows more about financing than me?” Well, apparently, plenty knew better. Within a year and a half, Trump Mortgage had closed shop. Even the executive Trump selected to run his loan company, E. J. Ridings, who claimed to have been a top executive at a prestigious investment bank was in reality a registered broker and in a position he held for a mere six days.
Trump Magazine: Trump launched an eponymous magazine in 2007 that, in a press release announcing the publication’s arrival, was described as “reflecting the passions of its affluent readership by tapping into a rich cultural tapestry.” A year-and-a-half after the launch, the magazine ceased publication.

Trump University: In 2005, Trump opened the non-accredited, for-profit Trump University. In 2010, four students sued the University for “Offering classes that amounted to extended infomercials.” Following the suit, the “University” changed its name to “The Trump Entrepreneur Initiative,” before ending operations one year later. In 2013, the New York AG sued Trump and the “University” for $40 million for allegedly defrauding students. Trump settled the case for some $25 million just a few days before he was sworn in as President – how ironic is that?

Many more are listed here – very interesting stuff and quite frankly it shows how he is or certainly wants to manage the country – like another failed Vegas Casino deal down the toilet. So, are we now on the verge of failure…!!! Time will tell, but I don’t feel very confident with Trump or his “leadership vis-à-vis economic policy and direction of the country.”

Stay tuned. 

No comments: