When Donald Trump began frantically pushing the idea of swiftly reopening America for business, without regard for coronavirus health and safety, it was easy enough to understand his political motivation. Trump’s presidency is a failure on every other front, and if the economy tanks too, his slim odds of reelection could get even worse. Now it turns out Trump has a personal motivation as well.
Last week Palmer Report brought you the news that Donald Trump’s Mar-a-Lago property had been shut down indefinitely due to a coronavirus infestation. Now the Washington Post is revealing that it’s not just Mar-a-Lago. Thanks to lockdowns in various states, six of Trump’s highest revenue generating properties are now shut down entirely – and even the one that’s still open is only partially open.
Donald Trump’s real estate empire has always been based on high levels of debt, robbing Peter to pay Paul, and bringing in just enough revenue to keep lenders at bay. He’s particularly vulnerable to a short term shutdown, because it means he has no cash coming in to cover his crushing debts.
Based on how shabbily Trump runs his properties from a financial standpoint, for all we know, his shuttered properties could be weeks or even days away from bankruptcy. No wonder Trump is scrambling to try to get Americans to hurry up and resume spending money at his hotels.
Bill Palmer is the publisher of the political news outlet Palmer Report