It’s not that complicated

Dear Palmer Report readers: major media outlets are caving to Trump already. Publishing platforms are at risk. Palmer Report is leading the fight. Please consider donating here.

We’re hearing a lot of complex theories about why Donald Trump is “moving” from New York to Florida. The thing is, none of them hold water. The move doesn’t impact where he’ll have to file tax returns next year (he still does business in New York). It doesn’t impact the New York grand jury’s ability to obtain his tax returns or indict him on state charges. It doesn’t impact jurisdiction, which is based on where you committed the crime, not where you currently live. Stop overthinking it. It’s about money. Trump is broke.

Throw in the fact that Trump is suddenly selling off his only truly profitable hotel for cash, and it couldn’t be more clear that he’s broke. Maybe Trump is lining up personal bankruptcy, maybe he’s just trying to dodge state taxes. But the guy is clearly out of money, and for some reason it’s reached a crisis point for him.

“But how can Trump be broke when he’s running so many grifts and he’s on the take from foreign governments?” The same way Rudy Giuliani just admitted during his infamous butt-dial that he’s out of money. When you have no legitimate income, and you live off illegitimate payoffs, you keep needing more. You never have enough. For Trump it’s even worse, because he’s deeply in debt on top of it.

It’s not as if Trump is sitting on a pot of cash that he’s grifted during his presidency. When you’re as deeply in debt as he is, grift money just gets you through the day. Service your debt, do a little to keep up lifestyle appearances, and you’re right back to having $0. Again, Trump is selling off the DC hotel where he makes the biggest chunk of his grift money. He’s giving up a huge amount of future income just to get his hands on a one-time cash payout now. You only do that if you’re flat broke, you’re trying to stave off creditors, and you’re worried about surviving the month without the whole thing collapsing.

Imagine owing billions of dollars to banks around the world. Think about what the interest payments alone each month must be. That’s why a guy like Trump can’t get ahead no matter how many small-time grifts he runs, or how many foreign payoffs he takes. We tend to think of Trump as this wealthy guy because he has a number of assets in hand. But he’s upside down on most of them. It’s just not that complicated. If your broke friend buys a bunch of fancy stuff on credit cards that he can’t afford, it doesn’t suddenly make him wealthy. It makes him more broke.

Dear Palmer Report readers: major media outlets are caving to Trump already. Publishing platforms are at risk. Palmer Report is leading the fight. Please consider donating here.