Trump has never filed for personal bankruptcy, although in 1990 he came within one missed bank loan payment of doing so, agreeing to a deal that temporarily ceded management control of his company to his banks and put him on a spending allowance. Trump claimed to have initiated this deal with his banks as he saw the downturn in the real estate market, but bankers involved in the matter stated they initiated the negotiations before Trump had realized there was a problem. His hotel and casino businesses have been declared bankrupt six times between 1991 and 2009 in order to re-negotiate debt with banks and owners of stock and bonds. Because the businesses used Chapter 11 bankruptcy, they were allowed to operate while negotiations proceeded. Trump was quoted by Newsweek in 2011 saying, "I do play with the bankruptcy laws – they're very good for me" as a tool for trimming debt. The six bankruptcies were the result of over-leveraged hotel and casino businesses in Atlantic City and New York: Trump Taj Mahal (1991), Trump Plaza Hotel and Casino (1992), Plaza Hotel (1992), Trump Castle Hotel and Casino (1992), Trump Hotels and Casino Resorts (2004), and Trump Entertainment Resorts (2009).
After the rally, fact-checkers found numerous false statements in Trump's remarks. Trump's speech was described as “angry”, "incendiary", “downright scary and disturbing”, "continu[ing] to divide this country", and "a total eclipse of the facts" (a reference to the previous day's solar eclipse). A mostly well-behaved group of protesters gathered outside the rally, but after Trump's speech, the police unleashed CS gas on and fired pepper-spray projectiles and rubber bullets at the protesters, reportedly in response to a few protesters throwing rocks and bottles at police. Saturday Night Live Weekend Update Summer Edition parodied the rally, and the following week, Bloomberg News reported that Trump punished George Gigicos for the rally's small attendance.
Finally, there is the president’s own policies, which could help trigger an economic crisis. Getting into an all-out trade war with China, the second largest economy in the world, is a risky move that could help blow up the global economy, economists say. The Trump administration has also deregulated the financial sector and passed a tax bill that “overwhelmingly benefited the wealthy and worsened inequality,” according to a United Nations report from June. These tax cuts did help juice the economy, but the stimulating effects will run out by 2020, which could then result in a recession (not particularly good timing for the man who signed the bill).
The reports gave rise to speculation that not only was the president’s re-election campaign itself ordering campaign items produced in China rather than in the U.S., but that they were attempting to mitigate against the increased costs that would come with the tariffs by pushing for the quick completion of those materials — moves that would provide a double dose of irony for a politician who has famously emphasized prioritizing American jobs and manufacturing.
Another sign that the economy is weaker than it first appears is the so-called yield curve, which measures the difference between interest rates on short-term U.S. government bonds and long-term government bonds. In a good economy, the rate for long-term bonds is significantly higher than short-term bonds, but recently long-term bonds have been slow to rise while short-term interest rates have been rising due to Federal Reserve policies. The yield curve has been an accurate predictor of past recessions, and it's now close to what it was shortly before the Great Recession.
At a time when the big-tent TV show seems all but dead and niche shows proliferate (“Marvelous Mrs. Mais-who?” groaned many Emmy viewers), Mr. Trump has created an unscripted drama that has unified living rooms everywhere. Whether you’re rooting for the antihero or cheering for his demise, chances are Trump TV has you under steady — some would say unhealthy — hypnosis.
Along with Bill Clinton, George W. Bush and Barack Obama, if Trump is reelected, it would be the first time in American history that there have been four consecutive presidents who were elected to two terms. If Trump completed his second term on January 20, 2025, he would be 78 years old and would have become the oldest person to serve as president, surpassing Ronald Reagan (who was 77 when he left office in 1989).[a]