Donald Trump just cut off Rudy Giuliani

| 10:00 pm EST January 13, 2021
Dear Palmer Report readers, we all understand the difficult era we're heading into. Major media outlets are caving to Trump already. Even the internet itself and publishing platforms may be at risk. But Palmer Report is nonetheless going to lead the fight. We're funding our 2025 operating expenses now, so we can keep publishing no matter what happens. I'm asking you to contribute if you can, because the stakes are just so high. You can donate here.

Donald Trump was impeached today, but he may have even bigger problems than that right now. With banks and business partners cutting him off left and right over the past few days, Trump is facing the ugly prospect of quickly going bankrupt. Now he’s taking it out on Rudy Giuliani of all people.

Trump has decided to stop paying Giuliani’s legal fees, and to not reimburse him for his election overthrow tour, according to a new report this evening from the Washington Post. We think this is happening for two reasons. First, Rudy’s idiotic efforts did nothing to help Trump’s chances of magically remaining in office. Second, with the way this week is playing out, Trump may not have any way of paying Rudy anyway.

We suspect we’ll see more rapid cost cutting moves on Trump’s part as he attempts to fend off or slow down the bankruptcy that he’s now in danger of being swallowed by. He has massive debts that require minimum payments. He’s upside down on most or all of his assets. He doesn’t have any way of paying what he owes people. And now the few banks that were still willing to touch him are cutting him off, meaning he can’t borrow new money to service his existing debts. At this point he can’t even pay Rudy anymore.