WTF Community

šŸ‘‘ Portrait of a President

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More deep dives into T and his familyā€™s financial interests in the US and around the world, and how they ā€˜oversell,ā€™ their properties - claim that there is more occupancy achieved/value than there really is.

ProPublica, non-profit watchdog organization finds these results.

Projects Where a Trump Family Member Overstated Sales Numbers

Dominican Republic
Claim: Donald Trump claimed $365 million in sales in a 2007 letter to The Wall Street Journal.
Reality: Trump reported $290 million in a 2009 project audit.
Result: Never built.

Fort Lauderdale
Claim: Trump announced the hotel/condo was ā€œpretty much sold outā€ in April 2006, according to a broker who attended the presentation.
Reality: 62 percent of units were sold as of July 2006, according to bank records that emerged in a court case.
Result: Entered foreclosure. Trumpā€™s name removed before construction completed.

Las Vegas
Claim: Condos ā€œsold out,ā€ Trump told The Associated Press in 2005
Reality: About 25 percent of units were sold by 2011, according to press accounts.
Result: Built.

Panama
Claim: ā€œItā€™s a 1,000-unit building, weā€™ve sold over 90 percent of it,ā€ Ivanka told Portfolio in 2008.
Reality: As of three months later, 79 percent of the units were pre-sold, according to Moodyā€™s.
Result: Built, but went bankrupt; Trump name removed.

SoHo
Claim: In 2008, Ivanka told reporters that 60 percent of units had sold.
Reality: A Trump partnerā€™s affidavit revealed that 15 percent had been sold at the time.
Result: Built, but went bankrupt; Trump name removed.

Tampa
Claim: The building ā€œsold out,ā€ Trump told The Wall Street Journal in 2007.
Reality: The developers failed to sell a minimum of 70 percent of units, according to a Trump company letter that year, which deemed that a violation of its contract.
Result: Never built.

Toronto
Claim: In a 2009 interview, Ivanka referred to the property as ā€œvirtually sold out.ā€
Reality: 24.8 percent of units had sold, according to a 2016 bankruptcy filing by the developers.
Result: Built, but went bankrupt; Trump name removed.

Article highlights how some of the financial deals were struck with brokers, and when payments were to be made. Also describes the percentages Tā€™s reaped after a building was occupied. I know nothing about how licensing works, but these seem like extremely favorable rates for Tā€™s family.

Even as brokers were taking cash out quickly, buyers were given time to put their money in. They anted up just 10 percent upon signing a purchase contract, according to the bond prospectus. They paid the remaining 20 percent in increments over the year after that.

Khafif complained of soaring construction costs and raised prices even as brokers hustled for contracts, Studnicky said. ā€œI kept saying I understand the problem, but if you keep pushing the prices up, people are never going to be able to close on these things,ā€ he said.

The higher prices climbed, the more the Trumps stood to pocket. Their licensing agreement gave them a base fee of 4 percent of gross sales when units closed. (This was on top of the $1 million Trump was given in advance for the use of his name.) They also received an ā€œincentive feeā€: the higher the price rose above benchmarks, the greater a proportion the Trumps earned, records show. A hotel-condominium unit that sold for $385,000, for example, would produce a payment of $20,650 ā€” just over 5 percent ā€” to Trumpā€™s company.

That was just the beginning. Along with the cut of sales, Trumpā€™s 2006 licensing agreement provided the family other cash streams from the Panama project. The Trumps could take a 20 percent commission on construction costs if money was saved through Trump dealmaking, for instance. Once the hotel opened, they would pocket 17.5 percent of what hotel guests paid for their rooms, including what they spent on minibar items, internet service and even bathrobes; 4 percent for parking unit sales; and 12 percent of commercial space rentals. The Trump Organization would also receive 4 percent of the hotelā€™s gross revenue for managing it, plus an incentive fee equal to a fifth of the hotelā€™s net operating income.

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Some imponderables as to why T does or does NOT do thingsā€¦or act on things.

@ddale8 (Daniel Dale - Journalist Toronto Star)

AP: Why havenā€™t you visited troops in a combat zone?

Trump: ā€œWell, I will do that at some point, but I donā€™t think itā€™s overly necessary. Iā€™ve been very busy with everything thatā€™s taking place here. ā€¦Iā€™m doing a lot of things. But itā€™s something Iā€™d do. And do gladly.ā€
8:05 PM - 16 Oct 2018

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So the President just declared himself a Nationalist at a campaign rally for Ted Cruz. So that becomes a fact now right? We now have a self-proclaimed Nationalist President.

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The words ā€œnationalistā€ and ā€œglobalistā€ ā€” both loaded terms with sometimes sinister implications ā€” have made their way into the popular political lexicon since Trump ascended to the White House.

He is INSTIGATOR-IN-CHIEF - and knows only rhetoric, rabble-rousing his base for the mid-terms.

Another famous instigator and spouting Nationalism, who knows no civil boundaries - Hilter

Disgusting. :hear_no_evil:

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Iā€™ve always felt that the term ā€œNationalistā€ is a not-very-subtle dog whistle that White Nationalists, Fascists, and Nazis actually hear loud and clear. :angry:

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@costareports Robert Costa Wapo

The presidentā€™s embrace of the word nationalism tonight is a marker, the culmination of many years of resisting the label, which he at first saw as a Bannon/Breitbart thing and a loaded, far right label that was an odd fit for a combative NY ex-Dem turned immigration hawkā€¦
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Follow threadā€¦

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But it became clear over time that Trumpā€™s aversion to ā€œnationalismā€ and ā€œpopulismā€ wasnā€™t an aversion to those ideas and what fueled them, but to the people associated w/ them. Identity-wise, he didnā€™t want to be see as a Bannonite, a Buchananite, or part of a movement.

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What Trump did tonight is finally finish the rhetorical journey. He acknowledged what heā€™s been the whole time: a nationalist, one of many in the world. He frames politics in transactional and deeply nationalistic terms, focused on perceived threats to his concept of the nation.

1/

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Truth

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@JohnJHarwood

former WH communications director Scaramucci, to CNN, on Trump: ā€œWe both know that he is telling lies. If you want me to say heā€™s a liar, Iā€™m happy to say heā€™s a liar"
7:36 AM - 24 Oct 2018

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The Mooch has a way with wordsā€¦continuing on the proclamation that yes, T is a Liarā€¦(and Mooch and T knows it is effective)

@jdawsey1

Josh Dawsey Retweeted Jennifer Jacobs

The Mooch says it is better to lie when you are lying to troll and incite people

@JenniferJJacobs

ā€œHeā€™s an intentional liar, Itā€™s very different than just being a liar-liar,ā€ Scaramucci says.

Trump speaks mistruths to ā€œincite certain people,ā€ including Dems and left-leaning journalists, he says.

https://www.bloomberg.com/news/videos/2018-10-25/scaramucci-on-why-blue-collar-americans-love-trump-video ā€¦

Jennifer Jacobs
ā€Verified account @JenniferJJacobs
1h1 hour ago

Scaramucci on @BloombergTV:

"President is an orange bowling ball and heā€™s going to bowl a strike on those guys," he says of Dem presidential hopefuls.

"Trump has this like Twitter insect light and he vaporizes everybody" by getting inside their heads.

https://www.bloomberg.com/news/videos/2018-10-25/scaramucci-on-why-blue-collar-americans-love-trump-video ā€¦

Piles of liesā€¦interview with Journalist Daniel Dale, Toronto Star and Judy Woodruff, PBS.

At a Monday rally, President Trump made comments about a caravan of Central American migrants that had fact-checkers on the alert. Since the president took office, theyā€™ve identified 2,915 claims that cannot be verified by the truth. Daniel Dale, Washington bureau chief of the Toronto Star, joins Judy Woodruff to discuss Trumpā€™s increasing rate of dishonesty and how the press should report on it.

ā€¦

Judy Woodruff:

And I should say we at the ā€œNewsHourā€ talk about inaccurate statements, false statements. Youā€™re comfortable using the word lie. Why?

Daniel Dale:

Because I think thatā€™s the only accurate word for some of the claims he makes.

I also sometimes describe his claims as false claims. Sometimes, we donā€™t know if heā€™s confused, if heā€™s made an innocent error, but, in other cases, itā€™s clear that he simply fabricated something.

For example, he claimed at one point that the head of the Boy Scouts had called him and said that his speech to the Boy Scouts was the best speech ever given the Boy Scout Jamboree. The Boy Scouts told me, no one ever spoke to him, no one ever called him, no one ever said that.

And so in a case like that, I think, in our ā€” in our regular lives, I think the word we would use is lie. So, I think we as journalists should use it in our articles as well.

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The White House has reportedly created a new strategy to get President Donald Trump to zero in on policy mattersā€”a schedule block called ā€œpolicy time.ā€ Itā€™s reminiscent of Trumpā€™s ā€œexecutive time,ā€ which seemed to consist of tweet storms and cable TV viewing.

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Okā€¦let the fireworks begin. :boom:

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Might as well get Rex Tillersonā€™s thoughts on what he REALLY thinks about Tā€¦This headline kind of says it allā€¦ā€œUndisciplined, doesnā€™t like to readā€™ and tries to do illegal thingsā€

Are we sensing that right now, T is up against all of it. I think so.

The end may be nearā€¦wishful but hopeful thinking :pray::statue_of_liberty:

Rex Tillerson on Trump: ā€˜Undisciplined, doesnā€™t like to readā€™ and tries to do illegal things

Rex Tillerson came a little bit closer Thursday to saying what he actually thinks of President Trump.

The fired secretary of state, who while in office reportedly called Trump a ā€œmoronā€ (and declined to deny it), expounded on his thoughts on the president in a rare interview with CBS Newsā€™s Bob Schieffer in Houston.

It wasnā€™t difficult to read between the lines. Tillerson said Trump is ā€œpretty undisciplined, doesnā€™t like to read,ā€ and repeatedly attempted to do illegal things. He didnā€™t call Trump a ā€œmoron,ā€ but he didnā€™t exactly suggest Trump was a scholar ā€” or even just a steady leader.

ā€œWhat was challenging for me coming from the disciplined, highly process-oriented Exxon Mobil corporation,ā€ Tillerson said, was ā€œto go to work for a man who is pretty undisciplined, doesnā€™t like to read, doesnā€™t read briefing reports, doesnā€™t like to get into the details of a lot of things, but rather just kind of says, ā€˜This is what I believe.ā€™ ā€

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So who is really ā€œdumb as a rockā€?

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Couldnā€™t decide if this was Humour or Portrait of a President material - but as it is a real event I believe it should go here.

A newly discovered blind and burrowing amphibian is to be officially named Dermophis donaldtrumpi, in recognition of the US presidentā€™s climate change denial.

The name was chosen by the boss of EnviroBuild, a sustainable building materials company, who paid $25,000 (Ā£19,800) at an auction for the right. The small legless creature was found in Panama and EnviroBuildā€™s Aidan Bell said its ability to bury its head in the ground matched Donald Trumpā€™s approach to global warming.

Trumpā€™s distinctive hair has already led to comparisons to a poisonous furry caterpillar and a golden-plumed pheasant, while a yellow-crowned moth was called Neopalpa donaldtrumpi in 2017.

So nice to think that he gets the recognition he deserves. :smiling_imp:

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As the Stones like to sayā€¦ā€œHere comes your nineteenth nervous breakdownā€¦ā€ and this time it is Tā€™s turn. He is having a huge :ambulance: tantrum today, balking at Congress, threatening to shut down the government, over the wall vote.

And heā€™s been castigated (again) by Ann Coulterā€¦who called his presidency a ā€˜joke.ā€™ :clown_face:

It is affecting Tā€™s baseā€¦heā€™s gone ballistic and dropped her. :fire_engine:

Coulter during a podcast interview with The Daily Caller earlier Wednesday called Trumpā€™s presidency ā€œa jokeā€ that will leave ā€œno legacy whatsoever.ā€

ā€œWhy would you [vote for him again]?ā€ the provocative author and columnist asked. ā€œTo make sure, I donā€™t know, Ivanka [Trump] and Jared [Kushner] can make money? That seems to be the main point of the presidency at this point.ā€

ā€œTheyā€™re about to have a country where no Republican will ever be elected president again,ā€ she added. ā€œTrump will just have been a joke presidency who scammed the American people, amused the populists for a while, but heā€™ll have no legacy whatsoever."

Trump now follows just 45 people and entities, including Fox News hosts Tucker Carlson, Sean Hannity and Laura Ingraham; administration members Vice President Pence, counselor Kellyanne Conway and press secretary Sarah Huckabee Sanders; family members including first lady Melania Trump, senior adviser and daughter Ivanka Trump and eldest son Donald Trump Jr.; and entities including the official White House twitter feed and The Trump Organization.

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What is he talking about? What ā€œshutdown moneyā€?

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Unless this means heā€™s trying to instruct Congress not to back pay federal workers for the shutdown; shutdowns lose money rather than gaining itā€¦

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@vine409 Exactly. At every step the President seems to fundamentally misunderstand how government actually works.

https://www.politico.com/agenda/story/2018/01/21/why-the-government-shutdown-actually-costs-money-000624

Quantifying the exact cost to the government is difficult, in part because every shutdown is different. Between November 1995 and January 1996, the government shut down twice for a total of 27 days as Democrats and Republicans clashed over Medicare funding, among other issues. A subsequent analysis conducted by the White Houseā€™s Office of Management and Budget estimated that both shutdowns together cost the government $1.4 billionā€”more than $2 billion today after adjusting for inflation. ā€œThatā€™s not monopoly money,ā€ then-President Bill Clinton said in January 1996 as the two parties were on the verge of yet another shutdown. ā€œShutting down the government again would be unbelievably irresponsible.ā€

Heā€™s literally throwing money away right now.

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