So far this week three different banks announced they were cutting off Donald Trump, in response to his incitement of a domestic terrorist attack at the U.S Capitol building. Palmer Report predicted that this would set off a chain reaction that would rapidly ruin Trump financially, and it appears that’s starting to play out now.
Trump just lost his longtime real estate broker Cushman & Wakefield tonight, according to a new report from Bloomberg. This is a big deal because Trump’s banking crisis means he may have to attempt selling off his few real estate assets that have any equity in them, in a last ditch effort at raising enough cash to keep servicing his debts and fend off outright bankruptcy. But now he’ll even have a harder time doing that.
Donald Trump’s potentially imminent bankruptcy may be one of the underreported aspects of his downfall. This guy has always been running a financial house of cards, borrowing or scamming money from one failed venture in order to service the debt accrued from his last failed venture. It won’t take much for the entire thing to come crashing down.
Bill Palmer is the publisher of the political news outlet Palmer Report