US: is Donald Trump cashing in on his post?
In a 927-page statement published on Tuesday, US President Donald Trump declared earnings of 2.2 billion dollars for 2025 – 3.5 times more than in the year before his second mandate began. More than 1.4 billion dollars comes from his family's cryptocurrency dealings. The news triggers a wave of disapproval in Europe's press.
Always an eye on the stock markets
Corriere della Sera has no doubts about what's going on:
“Last week, to prevent a sudden drop in share prices, the Pentagon waited until after the stock markets had closed to announce new US air strikes on Iranian targets in retaliation for the Pasdaran's attack on a ship in the Strait of Hormuz. And rumours about a possible resumption of negotiations in Doha was circulated on Sunday night, as trading in share futures got underway ahead of the reopening of the financial markets. ... During Trump's second term, we've become accustomed to something that was unthinkable until only recently: a president who makes threats, promises, disparaging remarks and compliments among other things to influence share prices and determine the winners and losers among US companies.”
Founding fathers would be turning in their graves
Presidential virtues are a thing of the past, Le Monde laments:
“With Donald Trump, the Founding Fathers' faith in the exemplary conduct of US presidents has been dashed. No one need look for virtues any more in a presidency marred by blatant corruption and a thirst for personal enrichment. ... In light of the constant expansion of executive power – sanctified by a Supreme Court that bows to a quasi-imperial presidency – and contempt for the law and facts, this second term in office is characterised by a complete erosion of the concept of conflict of interest.”
Politics and private interests intertwined
TVNet comments:
“It has not yet been conclusively established that Trump has broken the law with his business dealings. The White House categorically denies that the President's business creates a conflict of interest and stresses that the companies in question are run by his sons, and that all administrative decisions are made in the interests of the American public. Historians, however, stress that this is no longer merely a question of how high Trump's personal earnings are. The issue is how the very understanding of the US presidency has changed. Whereas previous presidents avoided even the appearance of a conflict of interest, during Trump's second term his private business and White House policy have for the first time become unmistakably intertwined.”
Cryptocurrencies must be better regulated
For The Independent, Trump's expanding fortune is proof that clear rules are needed for the crypto industry:
“It also raises questions about the appearance of a conflict of interest – not least with his enthusiastic promotion of crypto via executive orders and legislation. There should probably be laws and regulations about this, but the democratic world's institutions haven't yet caught up with this new breed of crypto-politician. ... When trust in politicians is low (even by the usual standards), and when cryptocurrencies are so murky, every democracy needs better rules.”
Money can't buy respect
Trump may have record earnings but as a politician he is failing, says The Guardian:
“On the one hand, [he is] getting the thing he has always desperately wanted in life – genuine, unimaginable wealth – at a cost of the other thing he has always desperately wanted in life, universal admiration and applause. This trade-off is so morally neat it might've come from a fable, but that is where the US president currently finds himself. Rich but mocked; successful, if you look at his income, but an absolute turkey of a leader with a 39% approval rating.”