Lol, let me get this straight… because I didn’t think Donald J Trump could come across any more stupid than he already does.
We’re talking about the Art of the Deal man.
Although widely credited as the author, The Art of the Deal was
actually co-written with journalist Tony Schwartz, who later said Trump played little
role in writing it.
We’re talking about the Donald J Trump who was supposedly such a brilliant businessman that he managed to bankrupt casinos. Casinos. Businesses designed so the house always wins.
And yet somehow, his didn’t.
He’s not the only one who has bled casinos dry, but that does not make it morally acceptable. Nor does it excuse a system that, in my opinion, allows behaviour that looks very much like legalised self-interest at everyone else’s expense.
Protect the rich, and everyone else can go hang.
I’ve digressed already, but I’ll come back to
the point. Let’s put some actual meat on the bones of this so-called great
businessman.
The Reality Behind the Atlantic City Bankruptcies
The financial mechanics behind Trump’s
Atlantic City casinos are a textbook study in how corporate shields protect
owners while leaving others to foot the bill.
Between 1995
and 2009, Trump’s publicly traded casino company lost about $1.1 billion, restructured
massive debts, and struggled year after year.
Yet during that same period, Trump personally
continued receiving large payments tied to salary, bonuses, and licensing
arrangements connected to his name.
Financial reporting based on company proxy
filings estimated that Trump received roughly
$82 million in total compensation and related payments from the casino
business during those years.
While the casinos were bleeding money, Trump
still got paid.
That’s the part people tend to leave out.
How the Debt Was Built
The Taj Mahal casino, Trump’s flagship
property, was financed using high-risk
junk bonds, carrying extremely high interest rates. About $675 million was raised through these
bonds at roughly 14% interest,
leaving the casino heavily burdened with debt from the start.
Later financial restructuring involved the
sale of additional junk bonds, including deals worth over $1 billion, some of which reporting
indicated was used to offset Trump’s personal debts while expanding the casino
empire.
That structure meant the risk didn’t just sit
with Trump.
It sat with investors, creditors, and
eventually contractors.
The Contractor Losses: Real People, Real Damage
When the Taj Mahal collapsed into bankruptcy,
the damage didn’t fall evenly.
About $70
million was owed to 253
contractors when the casino ran into financial trouble.
These weren’t giant corporations. Many were
small businesses. Tradespeople. Family-run companies.
The biggest creditors initially received about
33 cents on the dollar.
Some never recovered.
Associated Press reporting documented that:
- The contractor
responsible for the Taj Mahal’s decorative onion domes absorbed losses of
roughly $2 million.
- The Carrara marble
supplier later filed for personal bankruptcy after
suffering losses linked to the project.
That’s what bankruptcy looks like at street
level.
Not spreadsheets.
Not headlines.
People losing their livelihoods.
The Worker Fallout: Retirement Savings Hit
Employees were also exposed to financial
losses.
Workers were allowed to invest retirement
savings into company stock through 401(k) plans.
When the company moved toward restructuring
and bankruptcy in 2004, the
share price collapsed.
A later class-action lawsuit alleged that more than 400 employees lost over $2 million
in retirement savings tied to company stock.
Not Wall Street traders.
Workers.
People planning their retirement.
The Later Bankruptcies and Worker Benefits
By 2014,
Trump had only a minor ownership stake and was no longer running the casino
company directly, although his name remained on the properties.
During that bankruptcy, the company sought
major labour concessions.
Court rulings allowed the casino to break its
labour agreement.
Workers lost health insurance coverage and
pension contributions as a result.
Again, the people with the least power carried
the cost.
The Civil Fraud Ruling That Followed Years Later
And this pattern didn’t just stay in Atlantic
City.
In February
2024, a New York judge ordered Trump to pay $354.9 million in penalties in a civil fraud case.
In the ruling, the judge wrote that the frauds
found in the case:
"leap off the page and shock the
conscience."
That wasn’t political commentary.
That was a court finding.
The Pattern People Should Actually Be Looking At
Here’s the bigger picture.
Trump didn’t personally collapse when his casinos failed.
Others did.
Contractors lost money.
Workers lost retirement savings.
Investors lost capital.
And yet Trump walked away with tens of millions and moved on to television and branding deals.
The skyline of Atlantic City was left with what locals later called concrete ghosts.
Trump left with cash and a brand.
Now Back to the Original Point
Because somehow, despite all of that, I didn’t
think Trump could come across any more stupid than he already does.
But on 16
March 2026, while attacking California Governor Gavin Newsom, Trump
said this:
"The President of the United States,
Gavin 'Newscum,' admitted that he has learning disabilities, dyslexia.
Everything about him is dumb."
Yes, he called Newsom the President.
https://youtu.be/xZqWrXKvwV4?si=QtGhPLbyEASqVdt1&t=75
Yes, he mocked dyslexia.
Yes, he said "Everything about him is
dumb."
Those remarks were widely reported and drew
criticism from disability advocates and political figures.
And frankly, calling someone President when
you actually are, isn't exactly the mark of a sharp mind.
Trump Doubles Down on the Attack
Trump did not stop at mocking dyslexia.
During a speech to supporters in Hebron, he escalated the attack, saying:
“He admitted he has mental problems, that he's not a smart person…that he is unable to read a speech,” Trump said of Newsom. “I don't want the president of the United States to have a cognitive deficiency.”
He then added that he, on the other hand, is “real smart.”
Governor Gavin Newsom responded with a reply that was short, sharp, and devastating.
Writing on X, he answered with just two words:
“Too late.”
His press office followed up with a more pointed response:
“Grandpa’s talking about himself again. We wish him well. It’s never too late to seek mental treatment.”
That exchange was reported by The Independent and widely circulated across news and social media.
Sometimes it only takes two simple words to destroy an argument.
From my observations, Trump has at times appeared to struggle when reading from teleprompters, often drifting off-script into rambling remarks that lose structure.
As far as the public knows, he has not disclosed any medical condition that would explain those moments.
Newsom, by contrast, is known for delivering long responses from memory rather than relying heavily on teleprompters.
So the obvious question becomes:
Who looks more prepared?
Who sounds more coherent?
And who actually comes across as the more intelligent when speaking in public?
That is something people watching the footage can judge for themselves.
Gary’s Soapbox Comment
Now here’s the bit that’s opinion, and I won’t pretend otherwise.
Some people look at that record and see genius.
I look at it and see a system that allowed one man to walk away wealthy while others paid the price. I see a person of low morals. I see someone who does everything for personal gain. I see a person who is currently the President and, in my view, should not be.
If Donald J Trump is what passes for business brilliance, then the definition of success needs rewriting.
Because in my book, bankrupt casinos, unpaid contractors, wiped-out retirement savings and court rulings for fraud do not spell genius.
They spell the actions of a self-serving individual who, in my view, lacks the moral judgement required to be trusted with power of that scale.
His attacks on Newsom, particularly this one, were a spectacular faux pas. If you really wanted to make yourself look like the one struggling, this was how to do it. Calling Governor Gavin Newsom “President” while trying to insult him either showed carelessness or, perhaps unintentionally, sounded more like a prediction than an insult.
And frankly, if that ever did happen, I would agree he would make a far better President than a self-serving Trump.
And if that is the kind of leadership people admire, then frankly, the real problem is not Trump.
It is the people still cheering him on.
Links
Newsom gives scathing two-word retort after Trump publicly questions governor’s mental health and ‘cognitive’ ability
Trump: “A president should not have learning disabilities”
Trump Faces Backlash For Comments About Newsom’s Dyslexia
https://youtu.be/xZqWrXKvwV4?si=QtGhPLbyEASqVdt1&t=75
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