The Limited Times

Now you can see non-English news...

Donald Trump: US economy announces allegiance to outgoing president - storming of Capitol as "game changer"

2021-01-21T07:19:39.326Z


The storm on the Capitol caused horror around the world. There is also great unrest over Donald Trump's legacy within the own party. Now the US economy is also moving at a distance.


The storm on the Capitol caused horror around the world.

There is also great unrest over Donald Trump's legacy within the own party.

Now the US economy is also moving at a distance.

  • The outgoing US President

    Donald Trump

    refused to the last to recognize the election result.

  • Shortly after his speech, wild supporters stormed the

    Capitol

    .

  • That could now take revenge not only politically but also economically.

Washington - The transition into private life should

also be a business challenge

for the outgoing US President

Donald Trump

*.

Because after the violent assault on the Capitol, companies and banks are now turning away from the controversial politician.

According to experts, its name has become a taboo in the business world.

His successor

Joe Biden

wants to realign the completely divided country immediately after his inauguration.

Just a few days ago, for example, the

Financial Times

reported that

Deutsche Bank

no longer wanted to do business with the real estate entrepreneur.

The US credit institution

Signature Bank also

closed all of Trump's personal accounts in response to the storm on Capital.

And the golfers' association

PGA of America

unceremoniously canceled plans to hold the golf championship in 2022 on Trump's golf course in New Jersey.

It has become clear that "the implementation of the PGA Championship Bedminster harms the PGA of America brand," said association president Jim Richerson of the decision.

Trump's name has become a "burden" for his corporate empire, says

Trump

biographer

Michael D'Antonio

.

The brutal attack on the Capitol was a "game changer" for the

Trump brand

as well.

"He is the most severely disgraced president in history."

Trump's name has become synonymous with the “mob” that attacked the US Capitol.

Donald Trump: The image of success and wealth is in the can

Marketing professor

Tim Calkins

from

Northwestern University also

assumes that the

Trump

brand will

suffer lasting damage because of the chaotic presidency of its namesake.

"Before his term in office, Trump stood for wealth, success and exaggerated luxury," says Calkins.

Now they arouse “associations with anti-government attitudes, racism and extremism” and are in a sense “poisoned”.

Trump's assumption of office had already affected the appeal of his hotels in some places.

The

Trump Organization,

now run by his sons

Don Jr.

and

Eric

,

abandoned

a luxury hotel project in New York's

Soho

district

.

The Republican is extremely unpopular in liberal New York.

According to the

Washington Post

, occupancy in the Trump hotels in

Washington

and

Chicago

has recently been

extremely low

- also due to the corona pandemic

.

Donald Trump: how wealthy is the outgoing US president really?

Trump

regularly

rejects reports that he is in financial trouble

.

Regarding his debt to Deutsche Bank, he said in mid-October that the $ 400 million was only "a tiny percentage of my net worth."

His fortune was made by

Forbes magazine

last estimated at around 2.5 billion dollars - compared to 3.7 billion at the end of 2016 before he moved into the White House.

Noah Bookbinder

, director of the NGO Citizens for Responsibility and Ethics in Washington (CREW), points out that over the past four years, taxpayers' money has reliably flowed directly into Trump's hotels and golf courses - because

Trump

is very often there with government staff, family members and the guards from the Secret Service.

Donald Trump: million dollar conflict of interest

In September, CREW put the revenue from

Trump

properties from visits by the President at more than $ 100 million.

The organization listed a total of around 3,400 cases of conflicts of interest when, for example, foreign government delegations or lobbyists stayed in Trump hotels.

Trump

used his presidency to advertise his brand - and his sons, who are responsible for the business, made a political mood for

Trump

.

The consequence is that the

Trump

brand will

find

it more difficult in the future to address customers who are not part of Trump's political base.

Trump could now rely on a "smaller, but extremely devoted" group of admirers.

But the ex-president and former TV entertainer could reinvent himself, according to D'Antonio: Trump would possibly build his own TV network that would be anchored in the very conservative milieu.

Trump

would then continue to rally his followers as a kind of “political evangelical” preacher.

* Merkur.de is part of the Ippen Digital network

List of rubric lists: © Delcia Lopez / AP

Source: merkur

All news articles on 2021-01-21

You may like

News/Politics 2024-03-18T11:36:49.761Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.