These fireside chats by the running helicopter HAVE to stop.
Q Have you spoken to Wayne LaPierre this week at all during your trip?
THE PRESIDENT: I have. Well, I spoke to him a week ago. And, look, I’ve had a great relationship with the NRA, and I will always have a great relationship. I’ve been very good for the NRA.
If you just look — I mean, we have now two Supreme Court justices — great ones. And who would have thought that was going to happen in, you know, long prior to three years?
So, we have two. And equally importantly, we will have, within another 90 days, 179 federal judges. And I say, “Thank you very much, President Obama.” Because he was unable to get them filled. I don’t know what happened to him, but he was unable. So, President Obama did not do his job. And I inherited 138 empty positions. And, honestly, from his standpoint, and the standpoint of where he’s coming from, that shouldn’t have happened.
And we did do one other thing. I saw last night where some people were talking about criminal justice reform — very liberal Democrats. I’m the one that got it done. And I saw that, and I said, “You know, isn’t it a shame? You do something…” — and I’ve had very conservative people wanting it and very liberal people wanting it.
But if you take a look at — if you take a look at that reform package, without Donald Trump, it doesn’t happen. And you know what? I don’t need the credit. I get enough credit. But they never even mention my name. And these were people that were begging me to do it — calling me, begging me like you’ve never seen. And now that criminal justice reform is done — beautiful package, wonderful — they don’t even mention my name. So stupid. So stupid.
President Trump stands to save millions of dollars
annually in interest on outstanding loans on his hotels and resorts if
the Federal Reserve lowers rates as he has been demanding, according to
public filings and financial experts.
In the
five years before he became president, Trump borrowed more than $360
million via four loans from Deutsche Bank for his hotels in Washington,
D.C., and Chicago, as well his 643-room Doral golf resort in South
Florida.
The payments on all four properties
vary with interest rate changes, according to Trump’s official financial
disclosures. That means he has already benefited from falling interest
rates that were spurred in part by a cut the Federal Reserve announced
in July, the first in more than a decade — and his payments could drop
by millions of dollars more annually if the central bank grants Trump’s
wish and further lowers short-term rates, experts said.
“It
will reduce his borrowing costs quite a bit if he gets what he wants,”
said Phillip Braun, a finance professor at Northwestern University’s
Kellogg School of Management. Braun said Trump’s savings could be even
greater if Deutsche Bank permits his company to pay down the loans more
quickly without a penalty, which banks sometimes allow.
The White House and the Trump Organization did not respond to requests for comment.
While
Trump’s adult sons, Donald Trump Jr. and Eric Trump, are managing the
family business, the president insisted on retaining ownership of his
company after his election, bucking the practice of past presidents.
That decision, ethics experts warned, would lead to potential conflicts
of interest between his personal interests and public policy goals.
Trump’s
company took out a $125 million loan to buy and renovate the Doral golf
resort in Florida. (Angel Valentin/For The Washington Post)
The
Trump administration has argued that lower interest rates would spur
more consumers to buy homes and cars and businesses to invest in new
factories. Cutting rates also typically lowers the value of the dollar,
making U.S. products cheaper to overseas buyers, a goal of the
president.
But most economists and business
leaders say Trump’s trade war is the biggest threat to the economy, not
interest rates, which are already at historically low levels.
Since
taking office, Trump has aggressively sought to lower interest rates
and rejected the mostly hands-off approach other presidents have taken
to the Fed, repeatedly blasting Chair Jerome H. Powell — whom Trump
appointed to the post last year — for not falling in line.
On Friday,
after Powell made no announcement of a rate cut and instead voiced
concerns about Trump’s trade war with China, the president
immediately attacked him on Twitter, writing that “As usual the Fed did
NOTHING!” and comparing Powell to Chinese President Xi Jinping.
“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Trump posted.
Trump
and his advisers have privately discussed creating a rotation among the
Federal Reserve governors that would reduce Powell’s influence, The
Washington Post reported this past week.
Asked Friday night by reporters if he wanted Powell to resign, the president responded, “If he did, I wouldn’t stop him.”
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The
central bank’s benchmark rate is one factor in determining interest
owed on variable-rate loans, the kind the president has on his
properties. Mortgage rates have also been driven down because of the
trade war with China and anxieties about global growth.
Experts
said it’s difficult to ascertain exactly how much Trump would save if
he gets the reduction in short-term interest rates that he has urged,
from 2.25 percent to 1.25 percent — a move typically reserved for
economic emergencies.
But the president would be substantially impacted by a rate cut, they agreed.
Beginning
in 2012, Deutsche Bank provide Trump’s company with about $364 million
in loans by working through the bank’s private wealth division, rather
than through traditional commercial lending units, according to public
loan documents.
The borrowing was for two loans
totaling $125 million to buy and renovate the Doral golf resort in
Florida, a $170 million loan to renovate Washington’s Old Post Office
Pavilion into a Trump hotel and a $69 million loan to refinance an
existing Trump hotel in Chicago.
Trump’s
financial disclosures and loan records indicate that all four of the
loans remain outstanding. His company has paid down at least $19 million
of the Chicago loan, according to the filings, though the documents do
not show the amount of the remaining balances for any of the properties.
Trump
could save at least $600,000 and as much as $1.1 million annually on
just the larger of the two Doral loans if the Fed made a percentage
point reduction, depending on the loan agreement, according to Clifford
Rossi, a professor at the University of Maryland’s business school.
Even
a quarter-point reduction, which most Wall Street investors now predict
will occur in mid-September, could save Trump as much as $275,000
annually on that single Doral loan.
“If you’re
a consumer borrower with a car loan or a credit card, a quarter-point
reduction is significant savings,” Rossi said. Trump “has more loans and
a bigger dollar size, so he would get certainly a larger reduction on
the amount owed than most Americans out there.”
An analysis by Bloomberg News
found that for every quarter-point reduction, Trump could save $850,000
in annual interest rate payments, which would mean more than $3 million
in annual savings if the Fed dropped rates a full percentage point as
Trump has demanded.
During his years as a real
estate developer, Trump was famous for his aggressive efforts to save
money, even when it meant breaking up relationships or shattering
professional norms.
Trump has been sued
dozens of times for nonpayment of bills, by building contractors,
bartenders and even his own lawyers. He used money from a nonprofit
charity to pay off legal settlements for his for-profit businesses. He once sued his own lender, Deutsche Bank, to get out of a large mortgage.
Before
entering politics, Trump often advocated for lower interest rates,
which are key for a business that relies on large sums of debt.
“Interest
rates are very critical to the real estate industry, and [Trump has]
spent his whole career there, so he has strong opinions about where
interest rates should be,” said James Bullard, president of the Federal
Reserve Bank of St. Louis. “Every real estate person I’ve ever met in my
life has always wanted lower rates in all circumstances, so I think
that’s part of [Trump’s] nature.”
In the 1980s,
Trump became one of the most aggressive borrowers in the country, using
cheap loans to finance an Atlantic City casino empire that ultimately
failed and forced four of his companies to file for bankruptcy.
In
the wake of that collapse, Trump was largely frozen out by big banks.
He used cash to fund much of his company’s more recent real estate
expansion, then turned to an increasingly risk-taking Deutsche Bank for
some big loans starting in 2012, as The Post has previously reported.
Democrats in Congress have subpoenaed his Deutsche bank records, but Trump sued to stop the bank from responding and the matter remains mired in court.
Previous
presidents have avoided publicly criticizing the Fed to maintain the
board’s insulation from politics. Trump decided otherwise from the
get-go and as global economic concerns mounted in recent weeks, he
escalated his already routine attacks on Powell, tweeting
at different times in July that “the Federal Reserve doesn’t have a
clue!” and “They raised rates too soon, too often, & tightened,
while others did just the opposite.”
Four former Fed chairs, collectively appointed and reappointed by six presidents, then published a Wall Street Journal op-ed
urging that the Fed be allowed to act “free of short-term political
pressures and, in particular, without the threat of removal or demotion
of Fed leaders for political reasons.”
Trump
further amped up the pressure Friday after Powell spoke at a meeting of
central bankers in Jackson Hole, Wyo. The chair said the U.S. economy
was in a “favorable place” but that the trade war Trump launched against
China had created a “complex, turbulent” situation.
Trump
responded with a tirade on Twitter, blaming China for a boatload of
issues and demanding that U.S. companies avoid doing business there.
Stock market investors, already wary of a shaky bond market and
declining consumer confidence, began a sell-off that resulted in steep market losses.
Braun,
the Northwestern professor, said Trump’s constant pressure on the Fed
chair and his colleagues to adjust rates to suit the president’s
liking could hurt the U.S. economy.
“I don’t
think the Fed should be accommodating Trump’s trade war, and the risk is
potential inflation and the reputation of the Fed in the future,” he
said.
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Keep buying the hype. Some folks never learn that the con man is conning. Team Trump Treason blaming the media for tanking the economy is a dead give away that he’s doing it.
Keep buying the hype. Some folks never learn that the con man is conning. Team Trump Treason blaming the media for tanking the economy is a dead give away that he’s doing it.
How many people did your latest war criminal have killed in foreign countries? Bush is still the worst followed by Trump...but Trump has a ways to go before he surpasses the war criminal who America elected twice...
How many people did your latest war criminal have killed in foreign countries? Bush is still the worst followed by Trump...but Trump has a ways to go before he surpasses the war criminal who America elected twice...
How many people did your latest war criminal have killed in foreign countries? Bush is still the worst followed by Trump...but Trump has a ways to go before he surpasses the war criminal who America elected twice...
No doubt can’t be disputed..
yeah well All of Congress was and remains complicit in that shit and the ongoing bullshit being done under the wrongly given use of military force document.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
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How many people did your latest war criminal have killed in foreign countries? Bush is still the worst followed by Trump...but Trump has a ways to go before he surpasses the war criminal who America elected twice...
No doubt can’t be disputed..
yeah well All of Congress was and remains complicit in that shit and the ongoing bullshit being done under the wrongly given use of military force document.
60+ million of your fellow citizens voted for this man @pearljammr78
President Trump has suggested multiple times to senior Homeland Security and national security officials that they explore using nuclear bombs to stop hurricanes from hitting the United States, according to sources who have heard the president's private remarks and been briefed on a National Security Council memorandum that recorded those comments.
Behind the scenes: During one hurricane briefing at the White House, Trump said, "I got it. I got it. Why don't we nuke them?" according to one source who was there. "They start forming off the coast of Africa, as they're moving across the Atlantic, we drop a bomb inside the eye of the hurricane and it disrupts it. Why can't we do that?" the source added, paraphrasing the president's remarks.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
60+ million of your fellow citizens voted for this man @pearljammr78
President Trump has suggested multiple times to senior Homeland Security and national security officials that they explore using nuclear bombs to stop hurricanes from hitting the United States, according to sources who have heard the president's private remarks and been briefed on a National Security Council memorandum that recorded those comments.
Behind the scenes: During one hurricane briefing at the White House, Trump said, "I got it. I got it. Why don't we nuke them?" according to one source who was there. "They start forming off the coast of Africa, as they're moving across the Atlantic, we drop a bomb inside the eye of the hurricane and it disrupts it. Why can't we do that?" the source added, paraphrasing the president's remarks.
60+ million of your fellow citizens voted for this man @pearljammr78
President Trump has suggested multiple times to senior Homeland Security and national security officials that they explore using nuclear bombs to stop hurricanes from hitting the United States, according to sources who have heard the president's private remarks and been briefed on a National Security Council memorandum that recorded those comments.
Behind the scenes: During one hurricane briefing at the White House, Trump said, "I got it. I got it. Why don't we nuke them?" according to one source who was there. "They start forming off the coast of Africa, as they're moving across the Atlantic, we drop a bomb inside the eye of the hurricane and it disrupts it. Why can't we do that?" the source added, paraphrasing the president's remarks.
Trump is considering holding the next G7 meeting at one of his resorts.
Next year in Miami?
President Trump appeared to confirm on Monday that he wanted to hold next year’s Group of 7 summit meeting at one of his own properties, the National Doral luxury golf resort near Miami.
Comments
These fireside chats by the running helicopter HAVE to stop.
Q Have you spoken to Wayne LaPierre this week at all during your trip?
THE PRESIDENT: I have. Well, I spoke to him a week ago. And, look, I’ve had a great relationship with the NRA, and I will always have a great relationship. I’ve been very good for the NRA.
If you just look — I mean, we have now two Supreme Court justices — great ones. And who would have thought that was going to happen in, you know, long prior to three years?
So, we have two. And equally importantly, we will have, within another 90 days, 179 federal judges. And I say, “Thank you very much, President Obama.” Because he was unable to get them filled. I don’t know what happened to him, but he was unable. So, President Obama did not do his job. And I inherited 138 empty positions. And, honestly, from his standpoint, and the standpoint of where he’s coming from, that shouldn’t have happened.
And we did do one other thing. I saw last night where some people were talking about criminal justice reform — very liberal Democrats. I’m the one that got it done. And I saw that, and I said, “You know, isn’t it a shame? You do something…” — and I’ve had very conservative people wanting it and very liberal people wanting it.
But if you take a look at — if you take a look at that reform package, without Donald Trump, it doesn’t happen. And you know what? I don’t need the credit. I get enough credit. But they never even mention my name. And these were people that were begging me to do it — calling me, begging me like you’ve never seen. And now that criminal justice reform is done — beautiful package, wonderful — they don’t even mention my name. So stupid. So stupid.
Thank you. Thank you.
www.cluthelee.com
www.cluthe.com
www.cluthelee.com
www.cluthe.com
In the five years before he became president, Trump borrowed more than $360 million via four loans from Deutsche Bank for his hotels in Washington, D.C., and Chicago, as well his 643-room Doral golf resort in South Florida.
The payments on all four properties vary with interest rate changes, according to Trump’s official financial disclosures. That means he has already benefited from falling interest rates that were spurred in part by a cut the Federal Reserve announced in July, the first in more than a decade — and his payments could drop by millions of dollars more annually if the central bank grants Trump’s wish and further lowers short-term rates, experts said.
“It will reduce his borrowing costs quite a bit if he gets what he wants,” said Phillip Braun, a finance professor at Northwestern University’s Kellogg School of Management. Braun said Trump’s savings could be even greater if Deutsche Bank permits his company to pay down the loans more quickly without a penalty, which banks sometimes allow.
The White House and the Trump Organization did not respond to requests for comment.
While Trump’s adult sons, Donald Trump Jr. and Eric Trump, are managing the family business, the president insisted on retaining ownership of his company after his election, bucking the practice of past presidents. That decision, ethics experts warned, would lead to potential conflicts of interest between his personal interests and public policy goals.
Trump’s company took out a $125 million loan to buy and renovate the Doral golf resort in Florida. (Angel Valentin/For The Washington Post)
The Trump administration has argued that lower interest rates would spur more consumers to buy homes and cars and businesses to invest in new factories. Cutting rates also typically lowers the value of the dollar, making U.S. products cheaper to overseas buyers, a goal of the president.
But most economists and business leaders say Trump’s trade war is the biggest threat to the economy, not interest rates, which are already at historically low levels.
Since taking office, Trump has aggressively sought to lower interest rates and rejected the mostly hands-off approach other presidents have taken to the Fed, repeatedly blasting Chair Jerome H. Powell — whom Trump appointed to the post last year — for not falling in line.
On Friday, after Powell made no announcement of a rate cut and instead voiced concerns about Trump’s trade war with China, the president immediately attacked him on Twitter, writing that “As usual the Fed did NOTHING!” and comparing Powell to Chinese President Xi Jinping.
“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Trump posted.
Trump and his advisers have privately discussed creating a rotation among the Federal Reserve governors that would reduce Powell’s influence, The Washington Post reported this past week.
Asked Friday night by reporters if he wanted Powell to resign, the president responded, “If he did, I wouldn’t stop him.”
[Trump calls the Fed chair an ‘enemy’ after Powell said trade war is ‘turbulent’]
Continues..
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Experts said it’s difficult to ascertain exactly how much Trump would save if he gets the reduction in short-term interest rates that he has urged, from 2.25 percent to 1.25 percent — a move typically reserved for economic emergencies.
But the president would be substantially impacted by a rate cut, they agreed.
Beginning in 2012, Deutsche Bank provide Trump’s company with about $364 million in loans by working through the bank’s private wealth division, rather than through traditional commercial lending units, according to public loan documents.
The borrowing was for two loans totaling $125 million to buy and renovate the Doral golf resort in Florida, a $170 million loan to renovate Washington’s Old Post Office Pavilion into a Trump hotel and a $69 million loan to refinance an existing Trump hotel in Chicago.
Trump’s financial disclosures and loan records indicate that all four of the loans remain outstanding. His company has paid down at least $19 million of the Chicago loan, according to the filings, though the documents do not show the amount of the remaining balances for any of the properties.
Trump could save at least $600,000 and as much as $1.1 million annually on just the larger of the two Doral loans if the Fed made a percentage point reduction, depending on the loan agreement, according to Clifford Rossi, a professor at the University of Maryland’s business school.
Even a quarter-point reduction, which most Wall Street investors now predict will occur in mid-September, could save Trump as much as $275,000 annually on that single Doral loan.
“If you’re a consumer borrower with a car loan or a credit card, a quarter-point reduction is significant savings,” Rossi said. Trump “has more loans and a bigger dollar size, so he would get certainly a larger reduction on the amount owed than most Americans out there.”
An analysis by Bloomberg News found that for every quarter-point reduction, Trump could save $850,000 in annual interest rate payments, which would mean more than $3 million in annual savings if the Fed dropped rates a full percentage point as Trump has demanded.
During his years as a real estate developer, Trump was famous for his aggressive efforts to save money, even when it meant breaking up relationships or shattering professional norms.
Trump has been sued dozens of times for nonpayment of bills, by building contractors, bartenders and even his own lawyers. He used money from a nonprofit charity to pay off legal settlements for his for-profit businesses. He once sued his own lender, Deutsche Bank, to get out of a large mortgage.
Before entering politics, Trump often advocated for lower interest rates, which are key for a business that relies on large sums of debt.
“Interest rates are very critical to the real estate industry, and [Trump has] spent his whole career there, so he has strong opinions about where interest rates should be,” said James Bullard, president of the Federal Reserve Bank of St. Louis. “Every real estate person I’ve ever met in my life has always wanted lower rates in all circumstances, so I think that’s part of [Trump’s] nature.”
In the 1980s, Trump became one of the most aggressive borrowers in the country, using cheap loans to finance an Atlantic City casino empire that ultimately failed and forced four of his companies to file for bankruptcy.
In the wake of that collapse, Trump was largely frozen out by big banks. He used cash to fund much of his company’s more recent real estate expansion, then turned to an increasingly risk-taking Deutsche Bank for some big loans starting in 2012, as The Post has previously reported.
Democrats in Congress have subpoenaed his Deutsche bank records, but Trump sued to stop the bank from responding and the matter remains mired in court.
Previous presidents have avoided publicly criticizing the Fed to maintain the board’s insulation from politics. Trump decided otherwise from the get-go and as global economic concerns mounted in recent weeks, he escalated his already routine attacks on Powell, tweeting at different times in July that “the Federal Reserve doesn’t have a clue!” and “They raised rates too soon, too often, & tightened, while others did just the opposite.”
Four former Fed chairs, collectively appointed and reappointed by six presidents, then published a Wall Street Journal op-ed urging that the Fed be allowed to act “free of short-term political pressures and, in particular, without the threat of removal or demotion of Fed leaders for political reasons.”
Trump further amped up the pressure Friday after Powell spoke at a meeting of central bankers in Jackson Hole, Wyo. The chair said the U.S. economy was in a “favorable place” but that the trade war Trump launched against China had created a “complex, turbulent” situation.
Trump responded with a tirade on Twitter, blaming China for a boatload of issues and demanding that U.S. companies avoid doing business there. Stock market investors, already wary of a shaky bond market and declining consumer confidence, began a sell-off that resulted in steep market losses.
Braun, the Northwestern professor, said Trump’s constant pressure on the Fed chair and his colleagues to adjust rates to suit the president’s liking could hurt the U.S. economy.
“I don’t think the Fed should be accommodating Trump’s trade war, and the risk is potential inflation and the reputation of the Fed in the future,” he said.Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
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another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
https://apple.news/AWGCjNULeQlia84htu-jeSA
Libtardaplorable©. And proud of it.
Brilliantati©
https://apple.news/AJ1K6A6ZETyWG3nW5pRv_Ug
Libtardaplorable©. And proud of it.
Brilliantati©
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
President Trump has suggested multiple times to senior Homeland Security and national security officials that they explore using nuclear bombs to stop hurricanes from hitting the United States, according to sources who have heard the president's private remarks and been briefed on a National Security Council memorandum that recorded those comments.
Behind the scenes: During one hurricane briefing at the White House, Trump said, "I got it. I got it. Why don't we nuke them?" according to one source who was there. "They start forming off the coast of Africa, as they're moving across the Atlantic, we drop a bomb inside the eye of the hurricane and it disrupts it. Why can't we do that?" the source added, paraphrasing the president's remarks.
https://www.axios.com/trump-nuclear-bombs-hurricanes-97231f38-2394-4120-a3fa-8c9cf0e3f51c.html?utm_source=twitter&utm_medium=twsocialshare&utm_campaign=organic
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
www.cluthelee.com
www.cluthe.com
-EV 8/14/93
-EV 8/14/93
Libtardaplorable©. And proud of it.
Brilliantati©
Trump is considering holding the next G7 meeting at one of his resorts.
Next year in Miami?
President Trump appeared to confirm on Monday that he wanted to hold next year’s Group of 7 summit meeting at one of his own properties, the National Doral luxury golf resort near Miami.
NO EMOLUMENTS, EITHER!