Candidate Trump Likens Greek Debt to U.S. Debt

1434493071676Presidential candidate and businessman Donald Trump said that Greece is “unsalvageable” and likened the Greek debt to the U.S. debt.

Announcing his Republican presidential candidacy from the Trump Tower in Manhattan, Trump spoke of the U.S. debt saying, “We’re at 18 trillion dollars now. We’re soon going to be at 20 trillion dollars. At 24 trillion, that’s the point of no return. We will be there soon. That’s when we become Greece! That’s when we become a country that’s unsalvageable.”

With the Greek sovereign debt currently at 313 billion euros (350 billion dollars) approximately, the leftist Greek government is locked in acrimonious negotiations over its bailout with the troika of international lenders, namely the International Monetary Fund, the European Commission and the European Central Bank. Greece is in desperate need of cash since state coffers are drained after lenders have stopped financial aid.

Trump’s personal wealth is just under 4 percent of Greece’s annual economic output, if that was expressed as a function of the country’s GDP. It stands at 9.240 billion dollars, with 500 million in liabilities. He boasted that a bank offered him a 4-billion-dollar loan because he doesn’t “have enough borrowings,” as he said.


9 COMMENTS

  1. Syriza ran on an anti-austerity platform, knowing [1] the dates and amounts of repayment of Greek debt, [2] the condition of the Greek economy, and [3] that Greece’s creditors had never stated that they would agree with Syriza’s anti-austerity platform and [a] change the amount of the loans due, [b] change the dates on which the loans were due, or [c] offer Greece more money even if it did not pay its loans in full and on time. Syriza gambled with the Greek people as its chips and bet that 3a, 3b, or 3c above would occur simply because of the intimidating, bullying, insulting and narcissistic tactics of Varoufakis and Tsipras. In the end, Syriza lost its bet because Greece’s creditors refused to be intimidated, and they said: “Fine, Varoufakis and Tsipras, you keep your anti-austerity platform; we’ll keep our money. Have a good …day.” Syriza has what it told Greek voters they would have: anti-austerity. Therefore, about what can Syriza and those who voted for it complain? Syriza has only itself to blame – as do those Greeks who voted for Syriza. They shall have no future loans from creditors, and they shall be responsible for finding the money to run their anti-austerity economy. Where will Syriza find such money to run their anti-austerity economy? Nowhere, because the money does not exist and never existed: Greeks do not and shall not pay taxes, so there is no revenue, and no private or governmental lender will loan Greece money. In the end, and ironically, Greece shall have its anti-austerity, but it shall not have an economy and, therefore, its economy shall be the greatest anti-austerity economy in the world. If any Greek Erinyes are searching for someone to blame for this, they can start with Varoufakis and Tsipras. And what shall happen next? “Let all the poisons, which lurk in the mud, hatch out.” Robert Graves, I CLAUDIUS.

    • The problem is most Greeks are socialists and commie sympathizers yet want to have a modern lifestyle. Like money grows on trees. The Greeks that come to America are conservative and free market and despise the Greeks back home. When they come to Greece for vacation they say we love to see our family and Greece is beautiful…so much potential but the corruption and politicians brainwashed the people.

    • spoken like a true right winger and a protector of the status quo. There is a huge challenge but the challenge is up to the Greek citizens if they want to move forward with it or to continue moving from bailout to bailout. There is not an expert out there that suggests that the debt is sustainable in any way. Even the trump says that Greece is unsalvageable. To continue along the same path is defeatist..In fact the bail outs only protect the creditor assetts, they do noting for Greece except continually kick the can further down the path. ..The brave always tread where cowards fear to go.

      • Trump is correct. Greece will fall farther into the abyss. The well educated Greeks have left, or are leaving Greece. All that’s left will be the Greek Marxist degenerates.

        These same Greeks have no idea what is about to hit them. They thought austerity was tough. Wait until they get a load of being isolated in the world and no one will do business with Greece. These Greeks will really whine and cry, which should begin to happen by the end of next week, when the banking system collapses if the EU decides it does not want to fund Greece anymore.

        Why should the EU continue to fund Greece ? Greece is a huge liability now.

        • Fund Greece? People can not withdraw deposits that are their own. Consequently, the problem is not with the Greek citizens because they are just looking to liquidate their money holdings from the banks. The problem as you are well aware is the ECB. If Greek banks are not liquid that is a failure of the ECB. Fractional reserve lending is what is being stressed. Why have an ECB (European Central Bank) if it cannot live up to the demands of the deposit holders? IF Greek citizens do not have access to their bank holdings it means the ponzi scheme is crumbling. What has the ECB and the EU done to ensure that Greeks maintain confidence in the banks that hold their money? NOTHING!!! They refuse to negotiate with the governing representative of the PEOPLE of Greece . Tsipras legitimacy has been upheld. Time for the ECB to step up and uphold their end of the bargain. If they just do their job and give Greek banks the capital required to operate the run will stop and confidence will be restored rather quickly.

          What is the real problem here?? Are you saying that the ECB Does not have the Euro Cash to satisfy the demand of such a small population as Greece?

      • Yes, Trump is a conservative. He’s also something that you and Marxist Greeks will never be………………..wealthy, and successful. LOL, LOL, LOL.

    • It was re-organization bankruptcy, dummy. It is a strategic move used in business. Airlines do it all the time.. In reorganization bankruptcy, the debtor still pays his debt.

      When he did that, Trump was still worth billions. Greece is bankrupt, and flat broke. Trump has more money than the whole country of Greece. As a matter of fact, Trump could buy Greece. He could probably buy it very cheap right now. LOL, LOL.

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