Donald Trump holding one million dollars at the Trump Taj Mahal, Atlantic City, NJ, 1990....

[TheWorldNewsOrg]

[admin]

It really doesn't look like all that much when you really start to look at it.....

[James Thomas Rook Jr.]

If hundred dollar bills were laid end to end, the U.S. national debt and unfunded legal mandates (currently somewhere around 22 TRILLION dollars), works out to 83.33 million miles ....  miles.of one hundred dollar bills laid end to end.

From the average orbit of Earth, to the average orbit of the planet Mars, is about 48.36 million miles, which means that the U.S. national indebtedness currently would stretch to Mars, and about 35 million miles PAST Mars. as measured in a connected stream of one hundred dollar bills.

U. S. currency is about 6 inches long.

Please check my math.

... of course, after you stop hyperventilating into a paper bag,

 

 

[admin]

Didn't he go bankrupt not longer after that at one point?

[James Thomas Rook Jr.]

It is my understanding that many businesses he tried failed, and had to bankrupt. ... but many succeeded,

That's why we HAVE Corporations ... to limit personal liability

Bankruptcy is a fact of real life.

"STUFF HAPPENS" (paraphrased).

Bankruptcy just formalizes what already exists in the real world, and allows going broke not to permanently doom a person forever.

[JW Insider]

24 minutes ago, admin said:

Didn't he go bankrupt not longer after that at one point?

If this picture is actually 1990, it might be just a few months before the Trump Taj Mahal entered bankruptcy in 1991. But it came back out of bankruptcy in October 1991, and Trump had to give up his majority ownership. It died again anyway, so the whole billion dollar project was a waste, but Trump himself only had to lose a couple hundred million.  A very short version of the story is on Wikipedia:

Later in 1988, Trump acquired the Taj Mahal Casino in Atlantic City, New Jersey, in a transaction with Merv Griffin and Resorts International.^[43] The casino was opened in April 1990, and was built at a total cost of $1.1 billion, which at the time made it the most expensive casino ever built.^[44][45] Financed with $675 million in junk bonds^[46] at a 14% interest rate, the project entered Chapter 11 bankruptcy the following year.^[47] Banks and bondholders, facing potential losses of hundreds of millions of dollars, opted to restructure the debt.

The Taj Mahal emerged from bankruptcy on October 5, 1991, with Trump ceding 50 percent ownership in the casino to the bondholders in exchange for lowered interest rates and more time to pay off the debt.^[48]

 

This was one of several casinos he bankrupted.

Although Trump has never filed for personal bankruptcy, hotel and casino businesses of his have declared bankruptcy six^[52] times between 1991 and 2009 due to its inability to meet required payments and to re-negotiate debt with banks, owners of stock and bonds and various small businesses (unsecured creditors).^[53][54] Because the businesses used Chapter 11 bankruptcy, they were allowed to operate while negotiations proceeded. Trump was quoted by Newsweek in 2011 saying, "I do play with the bankruptcy laws—they're very good for me."^[55][56]

The six bankruptcies were the result of over-leveraged hotel and casino businesses in Atlantic City and New York: Trump Taj Mahal (1991), Trump Plaza Hotel and Casino (1992), Plaza Hotel (1992), Trump Castle Hotel and Casino (1992), Trump Hotels and Casino Resorts (2004), and Trump Entertainment Resorts (2009).^[52][57][58] Trump said "I've used the laws of this country to pare debt. ... We'll have the company. We'll throw it into a chapter. We'll negotiate with the banks. We'll make a fantastic deal. You know, it's like on The Apprentice. It's not personal. It's just business."^[47]

10 minutes ago, James Thomas Rook Jr. said:

Bankruptcy is a fact of real life.

If you've stayed in the Trump Plaza in Las Vegas you'll notice that it's a bit off the strip, and is the only large hotel that doesn't have gambling inside. I've stayed here on business trips, and the rumor about the restriction is that he could never get a Nevada gaming license because of openly admitting to his use of bankruptcies as a tactic. The "shady" persons he did business with were also cited, but in reality, Nevada puts up with a measure of this anyway.

[James Thomas Rook Jr.]

In Nevada bankruptcies, and although it is a Federal provision, how it works varies from State to State ... casino bankruptcies sometimes involve waking up on a helicopter, flying over Lake Meade, with your feet set in a bucket of cement.