You realize he has filed for bankruptcy many times right?
confirmed retard.
Do you know anything about the bankruptcy regarding the Taj Mahal casinos?
Trump was in the hole 3 billion so he made a deal with banks who he was endebted to lose half his equity and they keep half. However, this also meant that he didn't have half of the debt. He also did this with 4 other businesses. H pretty much filed for bankruptcy after making a certain amount of money and being in "debt" only to make "deals" with banks that actually work in his favor by taking the debts off of him and to the banks, which is now their problem and not his. He accumulates his debt by selling bonds to the public and not being able to pay them off later (he isn't actually losing anything here, he ISNT paying back the loans) and lets the banks handle the resulting debt. The guy is shrewd. He knows how to play the system.
Don't run off your tard spout next time if you don't know what you're talking about.
Thats just like the shitty meme where people say that America is trillions in debt. Do you actually know why? Like, basic high school econ? We are in debt because we use a fractional reserve banking system. Wikipedia says the following "Fractional-reserve banking is the practice whereby a bank accepts deposits, and holds reserves that are a fraction of the amount of its deposit liabilities. Reserves are held at the bank as currency, or as deposits in the bank's accounts at the central bank. Fractional-reserve banking is the current form of banking practiced in most countries worldwide". This is also the system our government uses. We "borrow" money (just printing it and using it) and use it, trusting that it will keep its value. As it stands, the dollars value is on par with other currencies like the euro and pound sterling (the pound is worth around 1.50$, the euro is .93$, so we are actually stronger than the euro) so we can still trade with others because our dollar is worth what it is.
This also means that our economy is worth as much as our debt (gee, real complicated). more wikipedia: "The United States is the world's largest national economy, representing 22% of nominal global GDP and 17% of global GDP (PPP) . The United States' GDP was estimated to be $17.710 trillion as of Q1 2015." I just checked the US debt clock, and man, the proof is in the pudding. It says for current GDP (gross domestic product, the sum of all the earnings of our citizens for one year) we are at 18.157 trillion and for our debt we are at 18.6 trillion (we do actually have some debt then, but nowhere near what people say we do).
We also have the largest holdings of gold in the world. We have 288 million ounces of gold with germany as the runner up with 119 million ounces. It's not like we're struggling. Our gold reserves alone are worth 313 billion, which is nearly enough to pay off all of our debt in one fell swoop.
TLDR trump didnt file bankruptcy because he sucks at business, he did it for mad money gainz and also some shit about the us economy read if you care
