Trump Says U.S. Heading For 'Massive Recession'

[Lakhota]

Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts.

The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets.

“I know the Wall Street people probably better than anybody knows them,” said Trump, who has misfired on such predictions in the past. “I don’t need them.”

Trump’s go-it-alone instincts were a consistent refrain — “I’m the Lone Ranger,” he said at one point — during a 96-minute interview Thursday in which he talked candidly about his aggressive style of campaigning and offered new details about what he would do as president.

The real estate mogul, top aides and his son Don Jr. gathered over lunch at a makeshift conference table set amid construction debris at Trump’s soon-to-be-finished hotel five blocks from the White House. Just before, he had met there with his foreign-policy advisers and just after he visited officials at the Republican National Committee — signs that, in spite of his Trump-knows-best manner, the political novice is making efforts to build a more well-rounded bid.

[Read the full transcript of the Trump interview]

Much More: In a revealing interview, Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years

Well, I suspect the "poorly educated" will be transferring their investments into gold. They will probably also need some survival seed kits like Glenn Beck used to advertise.

Glenn Beck advertiser offers "survival seeds" as defense against "emerging totalitarianism"

 

[Pogo]

Source link here...

 

[Lakhota]

Source link here...

He really is fucking batshit insane. Was Howard Hughes this crazy?

 

[Stephanie]

Well? are you the only one who didn't know that? We've been being warned about it for awhile now. they are just hoping to put off until Obama leaves and possibly a Republican gets in.

 

[Pogo]

Source link here...

He really is fucking batshit insane. Was Howard Hughes this crazy?

Howard Hughes was an eccentric but nowhere near this level of batshit.

Self-delusion may be the one thing Rump can legitimately claim to be the best at:

>> At its core, the Art of the Scheme is that he’ll get rich by promising to make you rich.

Throughout his decades-long business career, Donald Trump has launched a series of businesses that follow this model, with his presidential campaign being the latest. But in between founding phony universities and multi-level-marketing scams, Trump has also fallen victim to many of his own plainly stupid ideas.

Rump Steaks
.... “Where are the steaks? Do we have the steaks? We have Trump Steaks. He said the company! And we have Trump steaks! And by the way, if you want to take one, we’ll charge you, what, about 50 bucks a steak.”

Trump Steaks hit the market in 2007, via The Sharper Image catalogue. “When it comes to great steaks, I’ve just raised the stakes!” Trump said in an ad at the time. “Trump Steaks are the world’s greatest steaks and I mean that in every sense of the word!

“Trump Steaks are, by far, the best-tasting, most flavorful beef you’ve ever had!”

Reviewers, on QVC.com, where Trump steaks were also sold, disagreed, calling them “extremely greasy” and “tasteless and mealy.”

However they tasted, nobody in Jupiter, Florida, Tuesday night found out, perhaps because Trump Steaks were discontinued in 2014. Sharper Image’s website says they are no longer available but “their legacy endures.”

The steaks on display were purchased from a local vendor, the Bush Brothers—no affiliation with Jeb (!). The label from the company was conspicuously left on the packaging. But apparently to Trump, any steak in his general vicinity qualifies as a Trump Steak. He continued to assert that they were Trump Steaks during an interview with Anderson Cooper on Wednesday night.

Rump Mag
... “We have Trump Magazine!” he said.

He walked offstage, out of the shot of the camera, and grabbed a glossy magazine that was not called Trump Magazine.

“He [Romney] said Trump Magazine is out! I said, it is? I thought I read one two days ago.” He held it up in the air. “This comes out and it’s called The Jewel of Palm Beach, it goes to all my clubs. I’ve had it for many years and it’s—the magazine is great. Anybody want one?”

He tossed the magazine out into the audience.

The Jewel of Palm Beach, an annual publication published by Palm Beach Media Group (which NPR reported Trump “does not appear to own”) and described as “the exclusive publication of Donald J. Trump’s spectacular Mar-a-Lago Club” is not the Trump Magazine that Romney was talking about.

Trump Magazine, a quarterly that sold for $5.95, launched in 1998, according to the New York Daily News. Its creative director, Aaron Sigmond, described it as “wealth porn,” an aspirational publication for people who wished to live like Trump.

It folded in 2009.


Rump Shuttle
“So,” Trump said, “and the airline! By the way, I sold the airline… I actually made a great deal, complicated and in really terrible times, the economy was horrible, and I made a phenomenal deal. I had the shuttle, and I sold it!”

In 1988, Trump acquired a fleet of 22 aircrafts from Eastern Airlines for $365 million and decked them out in classic Trump style, even requiring his female flight attendants to don (faux) pearls. According to a Daily Beast report from October, sources close to Trump at the time of his aviation experiment said he “seemed less interested in the inner workings of the business than in what it could do for his brand.”

And in the end, it didn’t even do much for that.

Trump defaulted on Trump Shuttle’s debt and, in 1991, sold the company to U.S. Air.


Go Rump Yourself
... If Trump couldn’t have his own shuttle, he was determined to have his own travel agency.


In 2006, he launched GoTrump.com, a Travelocity-like site offering “travel Trump style.”

According to a 2011 Rolling Stone report, the site promised a 120 percent price guarantee on certain hotel deals offered up by The Donald himself.

Trump’s own sell for GoTrump reads like a preview for his campaign speeches.

“I love to negotiate,” he boasted on the company’s website. “And when I negotiate, I make sure that I get the best deal out there. At GoTrump.com, you will get the lowest online rate on a wide variety of flights, hotels, and travel packages. With over 60,000 hotels worldwide to choose from—the selection is tremendous. There is no arguing with a great deal—because in the end—it is all about the ‘Art of the Travel Deal.’”

.... GoTrump.com shut down only a year after it began, in 2007. The website redirects to DonaldJTrump.com, the digital home of his presidential campaign.


Rump University
.... “And by the way,” Trump said, “Trump University? We’re holding it, when I win the lawsuit—which I’ll win,” he trailed off.

“So, we’re putting it on hold and if I become president that means Ivanka, Don, Eric, and my family will start it up, but we have a lot of great people who want to get back into Trump University. It’s gonna do very well!”

Trump University was founded in 2005, a for-profit online school that sold courses—$300 each, on CD-ROM—on entrepreneurship, real estate, and marketing. The idea was to capitalize on the success of The Apprentice, which a year earlier had become one of NBC’s highest rated shows, and, at least according to Trump and his faculty at the time, to remodel education for the digital age.

But things soon went awry, and, according to what one former Trump University professor told The Daily Beast, Trump shifted his focus away from online curricula to expensive real estate seminars. By 2010, Trump University was forced to change its name to the Trump Entrepreneur Initiative, and then it ceased operations altogether.

Today, Trump University is the subject of three major lawsuits: two class action suits in California, one of which will go to trial, with Trump as a witness, this spring or summer, and a $40 million civil suit brought by Eric Schneiderman, New York’s Attorney General.


....While others talk in churches and school auditoriums, Trump lures tens of thousands into stadiums that are usually home to concerts and monster truck rallies.

And while most candidates use their time in front of an audience to paint their vision, usually in at least some detail, for the country’s future, Trump tends to ramble semi-coherently about his own greatness.

But it wasn’t until Tuesday night that a Trump speech had crossed over completely into the realm of late-night infomercials and home shopping network programming, rehashing his decade-plus career of selling hunks of beef and college degrees.

And Trump’s speech didn’t even cover most of the half-baked, get-rich-quick plans he’s birthed over the last few decades.


There’s a litany of other ideas he trademarked and later abandoned, including but not limited to: Trump Super Speedway, a potential NASCAR-like race track in New York; Trump Power, a line of carbonated non-alcoholic fruit drinks; The Trump Executive Collection, described as a set of toys (primarily die-cast vehicles); Trump Follies, an entertainment service that was going to feature live comedic performances and theatrical shows; Trump Mortgage, which sunk in 2007 after a year in the hands of a neophyte Wall Street broker; and The Trump Network, a multi-level marketing scheme that Trump launched in 2009, at the height of the financial crisis. << --- A Brief History of Rump's Get-Rich-Quick Schemes

​

 

[Katzndogz]

President Trump. Practice saying that.

 

[rcfieldz]

Hasn't the economy been in recession for the last 8 years?

 

[The Great Goose]

Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts.

The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets.

“I know the Wall Street people probably better than anybody knows them,” said Trump, who has misfired on such predictions in the past. “I don’t need them.”

Trump’s go-it-alone instincts were a consistent refrain — “I’m the Lone Ranger,” he said at one point — during a 96-minute interview Thursday in which he talked candidly about his aggressive style of campaigning and offered new details about what he would do as president.

The real estate mogul, top aides and his son Don Jr. gathered over lunch at a makeshift conference table set amid construction debris at Trump’s soon-to-be-finished hotel five blocks from the White House. Just before, he had met there with his foreign-policy advisers and just after he visited officials at the Republican National Committee — signs that, in spite of his Trump-knows-best manner, the political novice is making efforts to build a more well-rounded bid.

[Read the full transcript of the Trump interview]

Much More: In a revealing interview, Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years

Well, I suspect the "poorly educated" will be transferring their investments into gold. They will probably also need some survival seed kits like Glenn Beck used to advertise.

Glenn Beck advertiser offers "survival seeds" as defense against "emerging totalitarianism"

 

[Rustic]

Hasn't the economy been in recession for the last 8 years?

Ya, it's called Barry recession

 

[Pogo]

Hasn't the economy been in recession for the last 8 years?

Ya, it's called Barry recession

Which he must have activated via time machine, since that happened two months before he was even elected, let alone in office.

Pretty clever plan when you think about it:

1) Get elected President;
2) Invent time machine, travel back to a few months before election, trash economy, thereby ensuring election;
3) take office.

 

[Dale Smith]

Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts.

The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets.

“I know the Wall Street people probably better than anybody knows them,” said Trump, who has misfired on such predictions in the past. “I don’t need them.”

Trump’s go-it-alone instincts were a consistent refrain — “I’m the Lone Ranger,” he said at one point — during a 96-minute interview Thursday in which he talked candidly about his aggressive style of campaigning and offered new details about what he would do as president.

The real estate mogul, top aides and his son Don Jr. gathered over lunch at a makeshift conference table set amid construction debris at Trump’s soon-to-be-finished hotel five blocks from the White House. Just before, he had met there with his foreign-policy advisers and just after he visited officials at the Republican National Committee — signs that, in spite of his Trump-knows-best manner, the political novice is making efforts to build a more well-rounded bid.

[Read the full transcript of the Trump interview]

Much More: In a revealing interview, Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years

Well, I suspect the "poorly educated" will be transferring their investments into gold. They will probably also need some survival seed kits like Glenn Beck used to advertise.

Glenn Beck advertiser offers "survival seeds" as defense against "emerging totalitarianism"

You believe that a country with a printing press can continue to print worthless fiat currency and expect countries to keep accepting it just because of it's military's ability to enforce their will on them? Countries like Russia, China and other BRIC countries that have formed alliances and are tired of USA.INC pawning off their worthless currency on them that has no intrinsic value. USA.INC has been scrambling to try and find resources to pay bills and have been shut -out. Kerry, Kissinger and other diplomats have been going around to countries with gold reserves like Indonesia trying to make a deal for it and have left empty-handed. Good...let USA.INC go broke because we, the people are not responsible for their debts...of course they tried to make us surety on that debt but people are waking up to the fact that we are one of USA.INC's creditors. USA.INC has been hiding close to 70 TRILLION dollars in stock holdings and other hard assets in offshore accounts while pleading empty pockets. When it falls (and it will) pieces are in place to arrest these crooks and the debts this criminally ran corporate entity has ran up will be satisfied but the crash is going to hit a lot of people really hard. Mostly people that have been dependent on "da gubermint" are going to be shit out of luck until things are re-organized. I feel bad for those that did not prepare but I am taking care of me and mine first.

 

[Dale Smith]

Hasn't the economy been in recession for the last 8 years?

Ya, it's called Barry recession

Which he must have activated via time machine, since that happened two months before he was even elected, let alone in office.

Pretty clever plan when you think about it:

1) Get elected President;
2) Invent time machine, travel back to a few months before election, trash economy, thereby ensuring election;
3) take office.

Seriously, I would hate to be as blatantly stupid as you....I would contemplate suicide if I suffered from the type of stupidity that you do. You have no understanding about how anything works or the machinations behind it. You wave that little rainbow colored "demcrat" flag while posting utterly STUPID shit....and what is so sad is that you seem almost proud of it.

 

[Manonthestreet]

Pretty sure Biden Hilly and Sanders have been bashing O's economy too....funny FED just cant bring itself to raise rates even a trifling bit

 

[Dale Smith]

Pretty sure Biden Hilly and Sanders have been bashing O's economy too....funny FED just cant bring itself to raise rates even a trifling bit

Fuck the Federal Reserve. They OWN USA.INC and it's time to take it down.

 

[Pogo]

Hasn't the economy been in recession for the last 8 years?

Ya, it's called Barry recession

Which he must have activated via time machine, since that happened two months before he was even elected, let alone in office.

Pretty clever plan when you think about it:

1) Get elected President;
2) Invent time machine, travel back to a few months before election, trash economy, thereby ensuring election;
3) take office.

Seriously, I would hate to be as blatantly stupid as you....I would contemplate suicide if I suffered from the type of stupidity that you do. You have no understanding about how anything works or the machinations behind it. You wave that little rainbow colored "demcrat" flag while posting utterly STUPID shit....and what is so sad is that you seem almost proud of it.

Aww. Does somebody need a diaper change because I understand linear time and you don't?

 

[S.J.]

Source link here...

Sounds pretty smart. Everybody starts buying (based on his advice), causing prices to increase. He sells his property at an inflated price, then buys it back for a fraction of what it's worth after the market collapses. Too bad you're not smart enough to be rich.

 

[Dale Smith]

Hasn't the economy been in recession for the last 8 years?

Ya, it's called Barry recession

Which he must have activated via time machine, since that happened two months before he was even elected, let alone in office.

Pretty clever plan when you think about it:

1) Get elected President;
2) Invent time machine, travel back to a few months before election, trash economy, thereby ensuring election;
3) take office.

Seriously, I would hate to be as blatantly stupid as you....I would contemplate suicide if I suffered from the type of stupidity that you do. You have no understanding about how anything works or the machinations behind it. You wave that little rainbow colored "demcrat" flag while posting utterly STUPID shit....and what is so sad is that you seem almost proud of it.

Aww. Does somebody need a diaper change because I understand linear time and you don't?

Barrypuppet made a bad situation worse but of course he was just doing what he was told to do. The Fed bankers were always calling the shots. The QE programs, the Porkulus program, Barrypuppetcare.....I know more than you. Why you even bother posting your worthless spew is a mystery. Seriously, you are stupid and you have no clue on how this parasitic banking system works or the criminality and fraud behind it.

 

[Pogo]

Source link here...

Sounds pretty smart. Everybody starts buying (based on his advice), causing prices to increase. He sells his property at an inflated price, then buys it back for a fraction of what it's worth after the market collapses. Too bad you're not smart enough to be rich.

Why am I not surprised that not only do you ascribe dishonest motives to Rump to make him look like the "success" he wankingly imagines himself to be, but also then turn around and admire those presumed dishonest motives.

Typical.

 

[rdean]

Hasn't the economy been in recession for the last 8 years?

Recession is what Republicans gave us. Things have gotten better since then.

 

[Pogo]

Hasn't the economy been in recession for the last 8 years?

Ya, it's called Barry recession

Which he must have activated via time machine, since that happened two months before he was even elected, let alone in office.

Pretty clever plan when you think about it:

1) Get elected President;
2) Invent time machine, travel back to a few months before election, trash economy, thereby ensuring election;
3) take office.

Seriously, I would hate to be as blatantly stupid as you....I would contemplate suicide if I suffered from the type of stupidity that you do. You have no understanding about how anything works or the machinations behind it. You wave that little rainbow colored "demcrat" flag while posting utterly STUPID shit....and what is so sad is that you seem almost proud of it.

Aww. Does somebody need a diaper change because I understand linear time and you don't?

Barrypuppet made a bad situation worse but of course he was just doing what he was told to do. The Fed bankers were always calling the shots. The QE programs, the Porkulus program, Barrypuppetcare.....I know more than you. Why you even bother posting your worthless spew is a mystery. Seriously, you are stupid and you have no clue on how this parasitic banking system works or the criminality and fraud behind it.

Unfortunately for you I know how the calendar works.

Pop quiz -- what came first... September 2008 or January 20, 2009?

Take your time. Feel free to phone a friend if you have one.
And try actually reading post 9, the quote I started with. Maybe you can actually figure out what's going on.