The Trump Organization Appears To Be On Verge Of Complete Financial Collapse

[Mainecat]

12 hours ago, Mileage Psycho said:

I don't understand why business's are in trouble as we have had 10 years of economic growth, any business that doesn't have a balance sheet strong enough to weather 4-6 months of shutdown is a poorly run business.

True. Businesses can also run like many families, paycheck to paycheck. Sometimes this happens but usually when it does you learn not to let it ever happen again.

Champagne lifestyle on a beer budget.

[Highmark]

7 hours ago, Mainecat said:

True. Businesses can also run like many families, paycheck to paycheck. Sometimes this happens but usually when it does you learn not to let it ever happen again.

Champagne lifestyle on a beer budget.

Yep.   Was gonna add American's citizens to my response to Vince.   I find it simply amazing what people pay off and save on very modest incomes on the Dave Ramsey show.   It can be done one just has to want to do it.   Priorities and a budget are the starting point. 

[Mainecat]

1 hour ago, Highmark said:

Yep.   Was gonna add American's citizens to my response to Vince.   I find it simply amazing what people pay off and save on very modest incomes on the Dave Ramsey show.   It can be done one just has to want to do it.   Priorities and a budget are the starting point. 

I learned that didn’t work in my 20’s. We vowed to never let it happen again. I had a full time job and got a part time one and had it for years. I never paid anyone to do something I could do myself, from changing oil to putting additions on our homes. Banked 6 months of security. Fortunately we never needed it but some did and we helped them out. 

We know many in their 60’s who didn’t and will never be able to retire and this includes friends without kids. They charged everything and had whopper credit card bills and still do to this day.

Never live beyond your means.

[Highmark]

13 hours ago, Mainecat said:

I learned that didn’t work in my 20’s. We vowed to never let it happen again. I had a full time job and got a part time one and had it for years. I never paid anyone to do something I could do myself, from changing oil to putting additions on our homes. Banked 6 months of security. Fortunately we never needed it but some did and we helped them out. 

We know many in their 60’s who didn’t and will never be able to retire and this includes friends without kids. They charged everything and had whopper credit card bills and still do to this day.

Never live beyond your means.

That's the old MC who believed in personal responsibility.      Great seeing him every once in a while. 

[ArcticCrusher]

16 hours ago, Mainecat said:

I learned that didn’t work in my 20’s. We vowed to never let it happen again. I had a full time job and got a part time one and had it for years. I never paid anyone to do something I could do myself, from changing oil to putting additions on our homes. Banked 6 months of security. Fortunately we never needed it but some did and we helped them out. 

We know many in their 60’s who didn’t and will never be able to retire and this includes friends without kids. They charged everything and had whopper credit card bills and still do to this day.

Never live beyond your means.

Yet they never blamed themselves.

 

I got myself firmly planted before I started spending on pleasures in life. 

[Angry ginger]

1 hour ago, ArcticCrusher said:

Yet they never blamed themselves.

 

I got myself firmly planted before I started spending on pleasures in life. 

same,  one of my regrets was not having a bit more fun in my 20's but the financial foundation I created can last through just about anything. That was fortunate because lots in my world lost it all in the 08 crash.  While it took a toll mentally on me I never had to truly worry about money.  I've refocused myself over the last 18 months for a 5-7 year run at banking a lot hoping to cruise the last 10 years into actually retiring.  

 

[Sleepr2]

On 4/19/2020 at 6:29 PM, Mainecat said:

Ring

Trump- hello

Donnie it’s Vlad. I’m calling about the tab you have run up. It’s now over due.

Trump- well Puttie old friend I’m good for it.

Vlad- my bank oligarchs that trusted you want their money ASAP.

Trump- well I don’t have it.

Vlad- well maybe you could give us something we need.

Trump- Sure maybe we could make a deal on something sensitive perhaps?

Vlad- shut your mouth and call me on a secure line.

cant happen? Think again.

Every single federal employee is screened for security including who the owe money to. If it’s too much and your beholden to someone you don’t get hired OR if you are already and are flagged you can lose your job.

If you have over 3,500.00 in delinquent debt you can lose your clearance or job.

https://www.robinsonandhenry.com/colorado/bankruptcy/debt-and-security-clearances/

 

 

[1jkw]

2 hours ago, ArcticCrusher said:

Yet they never blamed themselves.

 

I got myself firmly planted before I started spending on pleasures in life. 

I have done the same thing, always had a safe decent vehicle for my wife while I drove whatever I could get cheap,    to get sleds or bikes I parted out sleds, fixed heavy equipment, and fixed and sold vehicles,  never over spent, bought a 2003 truck in 2005 paid cash for it still have it. I'm probably one of least wealthy guys here, but also the happiest and most content too.