Monday, April 27, 2020

OPM's

Business people are familiar with the phrase, OPM's or other peoples money. Regular citizens use this concept in car loans and mortgages but business people use it for inventory, payroll, expenses and expansion. OPM's are the life blood of business and no business makes use of this idea more than the real estate business. President Trump has used OPM's for his entire business career and so borrowing money to make money is not new to him. He is willing to spend freely during this virus crisis and time will tell if these loans or grants will hurt or help the economy. Congress is more than willing to go along with this approach and if things work out OK they will all claim the credit but if things do not work out they will say the buck stops with Trump. This is what it means to be president.

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