Trumpolini Shocks World Markets

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@DWDavis (25797)
United States
May 7, 2016 8:43pm CST
It is a fairly well known fact that The Donald had bankrupted himself more than once. Lucky for him he's had rich family to bail him out each time. Trump is comfortable with accumulating debt he never intends to repay. As President, he will apparently apply the same philosophy of declaring bankruptcy when the debt service gets to be too much. I read an article today where he stated that the US could just make deals to restructure or be forgiven its debt obligations. Does the US really need a President who believes declaring national bankruptcy is a viable alternative to reigning in runaway spending?
6 people like this
7 responses
pgn
@pgntwo (22405)
• Derry, Northern Ireland
8 May 16
I wonder how Chapter 11 would work in such an eventuality?
1 person likes this
DW Davis
@DWDavis (25797)
• United States
8 May 16
Not very well, I'm afraid.
1 person likes this
DW Davis
@DWDavis (25797)
• United States
9 May 16
@pgntwo A very interesting, and unsettling question, indeed.
1 person likes this
pgn
@pgntwo (22405)
• Derry, Northern Ireland
8 May 16
@DWDavis I guess, in corporate terms, Chapter 11 allows an organization a grace period to work out its cashflow problems whilst being protected from its debtors... What would protect a nation from aggressive takeover under similar circumstances? That is an interesting question, n'est ce pas?
1 person likes this
Ron Rybs
@Ronrybs (21492)
• London, England
9 May 16
Never liked Trump and the more I read and hear of him, the less impressed I get
1 person likes this
DW Davis
@DWDavis (25797)
• United States
9 May 16
He really has no idea what the job of being President of the US is all about, and he puts that ignorance on display every time he opens his mouth.
1 person likes this
Ron Rybs
@Ronrybs (21492)
• London, England
10 May 16
@DWDavis If he does win, I'd expect him to resign after a while. As jobs go it is hard work and a thankless task. No one is grateful and you get blamed for everything, Trump won't be able to pass the buck
1 person likes this
Yuki
@yukimori (10192)
• United States
8 May 16
Absolutely not, but it unfortunately seems like a real possibility at this point.
1 person likes this
DW Davis
@DWDavis (25797)
• United States
8 May 16
The good news is Trump won't be able to do much of anything if Congress decides to stop him.
Anna
@LadyDuck (502653)
• Italy
8 May 16
We already have Argentina that does not pay its debt, but we can see how their economy is. I do not believe that Americans want to live like that.
1 person likes this
Marie
@Tampa_girl7 (54720)
• United States
19 May 16
I believe that we should all pay our debt......individuals and government.
1 person likes this
Macarrosel
@Macarrosel (7498)
• Philippines
8 May 16
Forgiven for its debt obligations? Then those people with lots of unpaid debts will be happy. Honestly, I'm one of them but I have not so many debts, just a little.
1 person likes this
DW Davis
@DWDavis (25797)
• United States
8 May 16
Personal debt will not be forgiven. The US would just not pay what it owns on Treasury debt to investors here in the US and abroad.
Go Crossbones
@crossbones27 (52996)
• Mojave, California
8 May 16
We are used to living in debt. Thanks America, more worried when he has our military poiwer
1 person likes this