Only a few weeks ago Donald Trump incited hordes of his fanatical followers to storm the Capital Building in Washington.
People across the globe watched live as the very heart of American democracy came under attack from US citizens at the behest of the US President.
That opening paragraph seems as surreal writing it today as watching it unfold live was on 6 January 2021. But it really did happen and as a consequence Donald Trump will pay a higher price for his actions that day than any of his previous misdemeanours.
Trump’s actions offended the US in a way unseen since the Capital Building last came under attack in August 1814 when British troops occupied Washington DC.
However many US citizens voted for Trump in November 2020 the vast majority in time will come to loathe him for his deeds in January 2021.
Not only will the American people disown the perpetrator of the storming of the Capital Building, so will every financial institution around the globe that does not want to irk the US Government. This process has already started with Deutsche Bank, the last mainstream bank willing to do business with Trump immediately disowning him following the insurrection.
His hospitality empire is reported to be deeply in debt both in the US and in the UK. With his three golf resorts in Scotland and Ireland all showing consistent and substantial losses in recent years. In 2018 Trump injected $66 million across the three resorts just to keep them afloat.
The Trump International Hotel in Washington similarly made losses in recent years requiring a further $17.6 million of liquidity loans to remain open.
These losses and others were all reported pre pandemic which can only have impacted even further negatively.
He also faces an avalanche of loans coming due in the next few years- $100 million on Trump Tower in 2022 – $125 million on the Doral golf resort in Florida in 2023 – $170 million on his Washington hotel in 2024.
Trump also faces legal actions that add to his financial woes, not just the ‘small matter’ of his impending second impeachment, but also investigations into potential tax fraud being pursued by the Manhattan district attorney and the New York attorney general.
There are now also investigations opening into Trump’s last days in office, as new details of a more concerted plot to overhaul the election results emerge.
Trump’s hospitality empire is now a truly toxic commodity, the price of that commodity has already been shorted and is now looking certain to collapse.
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