Art of the loss — what blowing a billion tells us about Trump (via WestWingReport)
I’ll bet that few of President Trump’s supporters will actually read the article in The New York Times outlining just how he was able to blow $1.17 billion between 1985 and 1994.
What’s interesting here is that even with one mild recession, the overall period in question—1985 to 1994—was a boom time for the U.S. economy. GDP grew 43%, and the stock market, as measured by the S&P 500 SPX, -0.15% , grew 171%—not counting dividends. The problem here—and a reflection of Trump’s phoniness and shameless self-aggrandizement—is that this didn’t stop him from pretending to be a big donor to charitable causes. He got his photo in the New York papers a lot by showing up at events to benefit charities he never gave a dime to.
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