There are always two sides to every story. In the RDR on Feb. 24, there was a guest editorial from the Arkansas Democrat-Gazette that blamed the plight of New Jersey on Donald J. Trump because he built several casinos at Atlantic City.
During the boom years of the real estate market and the excesses of discretionary money, Trump invested in building out the oceanfront as the Las Vegas of the East Coast. Thousands of construction jobs and thousands of service jobs were created by this effort, not to overlook the millions in tax revenue.
Then the economic bubble popped and the rest of the article described what happened when the discretionary money dried up and the Atlantic City tourist industry was hugely affected. Trump apparently saw it coming and sold his assets to move on to other investments somewhere else around the world, where the economy was still stable.
He did not continue to sink his money into a losing program like our government does all the time.
In fact, one of those locations where he did invest was across the street from my timeshare in Hawaii, on Lewers Street in Waikiki Beach.
The neighborhood was a mix of fairly new to very old structures with hotels, restaurants, T-shirt shops, and other street businesses (think about that one). I invested in a timeshare back in the ‘70s on Lewers Street, when timeshares were all the trend. Unfortunately, that boom period did not last forever either.
But then along comes Trump with a proposal to upgrade two full blocks on Lewers Street with an International Trump Hotel and many upgraded stores, restaurants and thousands of jobs.
Now it is one of the nicest places in Hawaii to visit. I have to admit that this hotel condominium complex is well above my paygrade but it draws billions of international dollars to an American state — Hawaii.
That is just one example of what Trump is campaigning for. There is this love-hate relationship with Trump and the hate part is exaggerated by the media and a lot of left-wingers who have this fixation on anti-capitalism.
Trump is not only a capitalist, he is a smart capitalist most of the time. And when he makes a bad investment, he bails out, something I have done several times in my career.
When was the last time you heard about the government shutting down a failed program? The government has the luxury of taxing the American citizens to continue a bad program instead of bailing out like private businesses have to do.
What our government needs is a shot of good old capitalism, free-market trading and a president who understands this.