Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Why Ordinary People Bear Economic Risks and Donald Trump Doesn’t
Bill Moyers.com ^ | 9/22/14 | Robert Reich

Posted on 09/24/2015 9:27:26 AM PDT by MDspinboyredux

Thirty years ago, on its opening day in 1984, Donald Trump stood in a dark topcoat on the casino floor at Atlantic City’s Trump Plaza, celebrating his new investment as the finest building in Atlantic City and possibly the nation.

Last week, the Trump Plaza folded and the Trump Taj Mahal filed for bankruptcy, leaving some 1,000 employees without jobs.

Trump, meanwhile, was on twitter claiming he had “nothing to do with Atlantic City,” and praising himself for his “great timing” in getting out of the investment.

In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.

The laws protect them through limited liability and bankruptcy.

But workers who move to a place like Atlantic City for a job, invest in a home there and build their skills, have no such protection. Jobs vanish, skills are suddenly irrelevant and home values plummet.

They’re stuck with the mess.

(Excerpt) Read more at billmoyers.com ...


TOPICS: Business/Economy; Miscellaneous; Society
KEYWORDS:
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081 next last
To: Jim Robinson

That is right I will say it again.....

Go, Trump, GO!!

Did you see all the ads around that article? Moyers A Loser.


21 posted on 09/24/2015 9:38:03 AM PDT by Uversabound (Our Military past and present: Our Highest example of Brotherhood of Man & Doing God's Will)
[ Post Reply | Private Reply | To 10 | View Replies]

To: MDspinboyredux

Robert Reich is a disgrace and only stupid people pay him money.


22 posted on 09/24/2015 9:38:32 AM PDT by Read Write Repeat (Not one convinced me they want the job yet)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MDspinboyredux
Hi.

You sure are busy today.

5.56mm

23 posted on 09/24/2015 9:39:24 AM PDT by M Kehoe
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jim Robinson; MDspinboyredux

Robert Reich?

You use Robert Reich to troll Trump? Give it a rest.

Go, Trump, GO!!


+1,000


24 posted on 09/24/2015 9:39:51 AM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
[ Post Reply | Private Reply | To 10 | View Replies]

To: MDspinboyredux

“Robert Reich?

You use Robert Reich to troll Trump? Give it a rest.

Go, Trump, GO!!”

Jim Robinson

You have now been officially Zotzed.....

Proceed at your own risk....


25 posted on 09/24/2015 9:40:46 AM PDT by 100American (Knowledge is knowing how, Wisdom is knowing when)
[ Post Reply | Private Reply | To 10 | View Replies]

To: MDspinboyredux

Well as I said yesterday....stay tuned to the same bat channel, same bat time, more hits on the Trump bat...

I hope and pray that Trump knocks all the msm, talking heads, RINOs, washington cartel and RATS on their butts...

Trump 2016!!! All the way to the White House!!!


26 posted on 09/24/2015 9:40:48 AM PDT by HarleyLady27
[ Post Reply | Private Reply | To 1 | View Replies]

To: MDspinboyredux

Did he sit on his briefcase to write this?


27 posted on 09/24/2015 9:40:48 AM PDT by mindburglar (When Superman and Batman fight, the only winner is crime.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MDspinboyredux

Blah, blah blah.

The average person is also impacted when gas goes up a buck or two but not billionaires.

Same with food, taxes, rent, etc.


28 posted on 09/24/2015 9:40:55 AM PDT by ChinaGotTheGoodsOnClinton (Go Egypt on 0bama)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DesertRhino

That’s just hurtful! LOL


29 posted on 09/24/2015 9:41:31 AM PDT by MDspinboyredux
[ Post Reply | Private Reply | To 19 | View Replies]

To: dforest
You should be thrown off here. This is a totally liberal site.

I dont mind posts from liberal sites. Its a good thing to be exposed to what the creeps are discussing.

30 posted on 09/24/2015 9:41:59 AM PDT by corkoman
[ Post Reply | Private Reply | To 8 | View Replies]

To: MDspinboyredux

This is why we should all work for the govt, live in govt housing, have govt provided everything. A risk free life. Who needs liberty? /sarcasm


31 posted on 09/24/2015 9:42:34 AM PDT by sockhead
[ Post Reply | Private Reply | To 1 | View Replies]

To: M Kehoe

Two posts and a couple replies?

There are posters here who submit 10-15x that many in a day?

Just looking to add a little balance to the information being provided.


32 posted on 09/24/2015 9:42:37 AM PDT by MDspinboyredux
[ Post Reply | Private Reply | To 23 | View Replies]

To: MDspinboyredux

Pay no attention to the hundreds of millions made by the Clintons for selling secrets, brokering power, and just plain talking out of their backsides for bribes thinly disguised as ‘fees’.


33 posted on 09/24/2015 9:43:13 AM PDT by SpaceBar
[ Post Reply | Private Reply | To 1 | View Replies]

To: corkoman

We already know what they are discussing. We should not give them hits by going to their propaganda sites.


34 posted on 09/24/2015 9:43:41 AM PDT by dforest
[ Post Reply | Private Reply | To 30 | View Replies]

To: MDspinboyredux
In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.

They can't cash out of a bad bet at the first sign of trouble unless they can fine someone to cash in. A dumb and ignorant statement by Reich.

35 posted on 09/24/2015 9:44:45 AM PDT by Will88
[ Post Reply | Private Reply | To 1 | View Replies]

To: MDspinboyredux
Success is easy when all you lose is other people's money.

You've just described any kind of franchise, where actors, athletes (Michael Jordan), fast food chains (McDonald's), corporations (GE, Zenith) and other iconic brands lend their names to products and ventures, but only the people and companies who actually invest in those products and ventures risk their financial capital. However, note that to be able to sell these franchises, they had to attain a reputation for (1) quality products and (2) making money for investors. Also, note that while brand equity seems intangible, it's genuine.

Lose too much investor money, and brand equity evaporates. Business people are not dummies - they are idiots savant whose sole focus is on recovering their investment and making a profit. If Trump developed a reputation for losing investor money, he'd never have become a billionaire.

Just as not everything Michael Jordan endorses makes money for the company paying for his seal of approval, and McDonald's has franchisee restaurant closings, someone like Trump is going to have projects that don't make money. The difference is that Trump's projects are orders of magnitude bigger than chain restaurants, so the failures will be much higher profile.

36 posted on 09/24/2015 9:45:45 AM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Flick Lives
Wow. Billmoyers.com with an article by Robert Reich. That’s like liberal to the power of 2.

LOL!
The reference to Bill Moyers is enough to discredit the article as being nothing more than anti-America socialist tripe.
But piling Robert Reich into the mix takes it to a whole different level of commie bilge...

37 posted on 09/24/2015 9:46:05 AM PDT by El Cid (Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house...)
[ Post Reply | Private Reply | To 3 | View Replies]

To: MDspinboyredux
You do know who Robert Reich is, correct?

He and Paul Krugman swap spit.

5.56mm

38 posted on 09/24/2015 9:47:30 AM PDT by M Kehoe
[ Post Reply | Private Reply | To 32 | View Replies]

To: MDspinboyredux

It didn’t work. Sorry.


39 posted on 09/24/2015 9:48:43 AM PDT by MamaB (Heb. 13:2)
[ Post Reply | Private Reply | To 32 | View Replies]

To: MDspinboyredux

You should drink more.

40 posted on 09/24/2015 9:49:11 AM PDT by chris37 (heartless)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson