In the earlier stages of inflation, it was said that a Texas success story is the man who started with a million dollars and ran it up into a small fortune. That was what we were told about Trump, but because I am a cynical old bastard, I never believed it. Once again, that existential position has been validated.
But wait! There’s more. Everyone knows that American capitalism is a fixed game, one of the unannounced rules of which is that someone who starts with that much money cannot lose it all, no matter how stupid and incompetent he may be. But nature, as they say, treats the word “foolproof” as a dare.
Someone with a stronger stomach than I can go through the Trump story to figure out how much was sheer stupidity, how much was deliberate inattention, and how much was meanness (refusing to pay people you’ve hired because you can hire better lawyers than they can is probably bad for business as well as morally repulsive).
And still, after declaring bankruptcy at a rate lesser companies introduce new models and taking advantages of the many private laws intended to protect the likes of him from the consequences of their actions, he still wound up with the Russians bailing him out and owning his ass.