RE: Russian Oil for Ireland?8 May 2019 15:27
At one stage Trump was in debt to the tune of $1.2billion. If he was not the master of accounting how is it he is still here with loads of money?
The answer is that Trump was the master of accounting and used America's Chapter 11 to make himself even richer while taking advantage of the fact that American bankruptcy through Chapter 11 is not viewed as a disgrace but as a virtue and a chance to restructure your debt.
Having worked with a number of American companies who have used Chapter 11 to not only pay of their debts but to come back stronger for it is amazing. In one instance a company was bought for $500m which was worthless. By clever accounting it was nominally revalued at $700m, was liquidated and $200m of virtual money was added to the buying company's accounts and the company was "vanished". Magic? No. Accounting.
That is what accountants do; magic money out of thin air and know every trick in the book that pulls the wool over the eyes of politicians who can only fiddle their expenses to get hold of a bit of hot money.
And have you been to Doonbeg? I spent a few fabulous days there some time ago even when it was in dire straits. Now it is thriving, making money even though when I saw how remote it was and how playing golf depends on how hard the wind is blowing in off the Atlantic I reckoned it would be a ghost town/village in less than a few years. Trump has turned it around to where it is now thriving, making money and, as you say, keeping the natives in business and jobs.
Since my last outing was in Ballyfin Hotel (not at my expense, thankfully) Co. Laois, rated the best hotel in Ireland and possibly the best and most expensive hotel in the world, I would actually prefer Doonbeg to it.
As for Trump, I am no great lover of him as I reckoned he could have stymied the NRA and stopped some of those crazy killings in the US. Unfortunately, the disease has spread and become a world wide plague with gun and knife crime now worse worldwide than in the Old Wild West.
But Trump belongs in that adage I saw in a senior manager's office in one of the world's biggest banks which said "If you have nothing to do, make yourself known by changing something". In other words, keep the pot boiling. Trump has certainly done that given the publicity he creates.
Isn't a pity that our leader here in Providence did not have a bit of the Trump flair and perhaps we could then make a bit of money.
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