Donald Trump’s financial house of cards is collapsing
Evidence is mounting that Trump’s evil and egomaniacal presidency is causing him harm. When he is not busy cheating at golf, Trump has displayed a fondness for attacking the rule of law, colluding openly with hostile powers, threatening healthcare and asylum-seekers, and, most recently, distracting us from all this through an expensive tariff war with China and the threat of a deadly war with Iran. But while Trump has been enjoying himself immensely, signs continue to emerge that his perverse notion of fun has been turning his name toxic.
A few months ago, Palmer Report told you about how more and more people have been taking action to remove Trump’s name from buildings since he took office. This is remarkable. If having one’s name on the side of condos and hotels was valuable before becoming President of the United States, the prestige of that office should only make that feature even more desirable. Instead, given both the removal of the Trump name and a lack of interest in memorializing it, Trump may leave the presidency with a net negative when it comes to naming buildings for him.
Then, last week we told you that Trump’s name problem is so bad that it extends beyond his last name, and even beyond his own name. A newly released set of government data shows that The Donald’s first name has dropped in popularity to a record low, taking down Ivanka, Melania, Eric, and even Barron with it. While these baby names could recover popularity after Trump leaves office, the Trump surname is on track to remain synonymous with your favorite swear word, if not replace it.
Now, a new blow to the Trump name comes courtesy of a report this week by Bloomberg, which details how New York City’s iconic Trump Tower has fallen from grace. Once “the crown jewel in Donald Trump’s property empire,” the midtown address, famous for its hosting of Russian collusion, is now “one of the least desirable luxury properties in Manhattan.” Although there is some inconvenience from the building recently becoming a “fortress” due to increased security measures, the reporting makes clear that the Trump name is what is chasing residential and commercial tenants away. Since the 2016 presidential election, there have been nine sales at Trump Tower where city records show what the sellers paid for their condos. Of those nine sales, a whopping eight of them incurred a loss, in contrast to the mere 0.23% of all Manhattan homes that sold at a loss during that time period.
It is possible that Trump is confident his name will rebound once his conversion of America into fascism is complete. Or it may be that Trump is having too much fun carving up the country and devouring others’ souls to care. But if Trump is concerned about preserving any remaining value in his name, his best bet would be to resign the presidency as soon as possible.
Ron Leshnower is a lawyer and the author of several books, including President Trump’s Month