Donald Trump has been a walking, talking red flag for years, and the Republicans knew it. They saw it, they smelled it, they warned us about it, and then they handed him the nuclear codes anyway.
While Adam Kinzinger has been making waves recently for dragging MAGA Republicans to filth, let’s not forget that Mitt Romney was one of the first to go full scorched-earth on Trump long before it was futile. Now, an old video of Romney’s blistering speech from March 3, 2016, is going viral on X (formerly Twitter), and it feels more relevant than ever.
“Isn’t he a huge business success? Doesn’t he know what he’s talking about? No, he isn’t and no he doesn’t.” pic.twitter.com/oQpqzuHd7G
— Republicans against Trump (@RpsAgainstTrump) April 7, 2025
Speaking at the University of Utah, the 2012 Republican presidential nominee boldly called Trump a “fraud” and a “phony,” dismantling the carefully constructed myth of Trump as a successful businessman. Romney made it clear that Trump’s claim to fame as a “business genius” was nothing more than smoke and mirrors. “Isn’t he a huge business success?” Romney asked the crowd, before answering his own question: “No, he isn’t. And no, he doesn’t know what he’s talking about.”
Trump’s business history includes six corporate bankruptcies — the Trump Taj Mahal (1991), Trump Castle Associates (1992), Trump Plaza Hotel and Casino (1992), Trump Plaza Associates (1992), Trump Hotels and Casino Resorts (1994), and Trump Entertainment Resorts (2009). For reference, most successful businesspeople aim for zero bankruptcies. Beyond these formal financial failures, Trump’s graveyard of collapsed ventures includes Trump Airlines, Trump Vodka, Trump Steaks, Trump Magazine, Trump University (which settled a $25 million fraud lawsuit), Trump Mortgage (launched right before the 2008 housing crisis), and Trump Network, among others.
Romney, who actually built Bain Capital into a legitimate business powerhouse, recognized the con immediately. “He inherited his business, he didn’t create it,” the republican noted, referencing the estimated $413 million Trump received from his father’s real estate empire. So, Trump was born wearing golden booties and still managed to repeatedly trip over his own inflated self-image.
Romney’s words now echo with eerie accuracy as markets tumble. Our septuagenarian commander-in-chief is busy taking golf victory laps while the economic indicators flash red. Approximately $9 trillion value in U.S. stock market has evaporated. Asian markets have taken even harder hits — Japan’s Nikkei down nearly 8% and Hong Kong’s Hang Seng falling a staggering 12%. Meanwhile, American market indexes have dropped more than 5% across the board. JP Morgan now puts recession probability at 60%.
In the end, Romney’s fundamental point stands stronger than ever: Trump doesn’t actually understand how economics works. He understands how to talk about economics in simplistic terms that sound good at rallies — which, it turns out, is a very different skill set.
Published: Apr 8, 2025 01:22 pm