The MeidasTouch Podcast Summary
Episode: Trump Destroys Vegas with Biggest Scam Yet
Release Date: April 30, 2025
Introduction
In this episode of The MeidasTouch Podcast, hosts Ben, Brett, and Jordy Meiselas delve into the controversial impact of Donald Trump on Las Vegas's economy and tourism industry. Combining sharp political analysis with their signature brotherly banter, the Meiselas brothers explore the parallels between Trump's historical business practices in Atlantic City and his current influence in Las Vegas.
Trump’s Impact on Las Vegas Tourism and Economy
David initiates the discussion by highlighting the severe decline in Las Vegas tourism, attributing much of the downturn to Donald Trump's actions and rhetoric. He states:
"Donald Trump is causing severe damage to Las Vegas, which relies on tourism dollars." [01:22]
David explains that international tourism, especially from Canada, Europe, and Australia, has plummeted. This decline is linked to widespread boycotts of U.S. products and services, fueled by negative perceptions stemming from Trump's administration's immigration policies and harsh treatment of migrants.
"They're hearing stories about migrants being thrown in detention centers... and essentially treated like criminals." [01:22]
Historical Context: Trump’s Atlantic City Ventures
To provide context, David revisits Trump's troubled history with Atlantic City casinos in the early 1990s. He narrates how Trump's overambitious projects led to significant financial losses and eventual bankruptcies.
A pivotal moment in the discussion features a clip from a 1990 ABC investigative piece:
James: "Step beyond your wildest imagination." [04:38]
Emily: "The hotel was advertised as the eighth wonder of the world when it opened in 1990." [04:31]
The Taj Mahal casino, touted as a symbol of Trump's real estate prowess, failed to sustain its operations, leading to its closure in the early 2010s. David underscores the mismanagement and unrealistic expectations that doomed the ventures:
"Marvin Roffman... said the Taj would have to make close to a million three a day to break even. No casino in the world ever had that kind of number." [07:03]
Current Crisis in Las Vegas
Drawing parallels to the past, David outlines the current economic hardships in Las Vegas:
- Visitor Volume Down: Recent statistics show a 12-15% drop in visitor numbers.
- Gambling Revenue Decline: Gambling revenues have decreased by hundreds of millions of dollars, reflecting a 15% downturn.
- Employment Impacts: Major employers like MGM are laying off employees, exacerbating the local unemployment crisis.
He emphasizes that these issues are eerily similar to the financial disasters Trump orchestrated in Atlantic City, suggesting a pattern of economic mismanagement.
Media and Public Reaction
The episode highlights critical media responses to Trump's actions, particularly from The Las Vegas Review-Journal, owned by Trump mega donor Miriam Adelson. A recent op-ed condemned Trump's pardon of Michelle Fiore, a former Las Vegas councilwoman convicted of fraud.
David: "The Las Vegas Review Journal described the decision by Trump as a debasement of presidential pardon power." [15:02]
The editorial criticized the pardon as undermining the integrity of the judicial system and sending a negative message to public officials.
Additionally, Howard Stevenson Stutz, a Nevada independent reporter, attributes the decline in Canadian tourism to both tariffs and the perceived disrespect from the White House.
Howard: "It's not the tariffs, it's the disrespect... all the rhetoric coming out of the White House." [13:41]
Comparative Analysis: Then and Now
David draws a comparison between Trump's past business failures and his current political maneuvers. He points out that Trump's promises during elections often mirror his unsustainable business strategies, leading to similar outcomes of economic instability and public distrust.
"Trump was defrauding Vegas right there because all they had to do in Vegas also and elsewhere..." [10:08]
He further critiques Trump's financial disclosures, highlighting numerous bankruptcies associated with his enterprises:
"The Trump Taj Mahal... filed for Chapter 11 bankruptcy in 1991. The Trump Plaza, the Trump Castle, and the Plaza Hotel... filed in 1992." [10:58]
This history of financial failures underscores the ongoing skepticism about Trump's business acumen and ethical practices.
Local Contractor Testimonies
In exploring the human impact of Trump's business dealings, David shares accounts from contractors adversely affected by Trump's bankruptcies. Charlie, a former contractor, recounts:
"Had I known that Trump was going to take over the job, I would have never done the job." [07:40]
He adds:
"He promised if we did a good job, we would get paid. He didn't have the money." [07:53]
These testimonies illustrate the tangible harm caused by Trump's financial mismanagement, leading to unpaid debts and destroyed livelihoods.
Current Economic Indicators in Las Vegas
David presents current economic indicators to paint a comprehensive picture of Las Vegas's struggles:
- Visitor Volume: Down by 12-15%.
- Gambling Revenue: Decreased by approximately 15%.
- Room Rates: Dropped below $100 to attract visitors.
- Employment: Significant layoffs at major establishments like MGM.
He underscores that the economic downturn is not merely seasonal but a direct consequence of Trump's policies and actions.
Conclusion
The episode concludes with the Meiselas brothers asserting that Donald Trump's influence continues to wreak havoc on Las Vegas's economy, mirroring his past failures in Atlantic City. They emphasize the importance of supporting democratic values and hold Trump accountable for his detrimental impact on both local and national scales.
David: "Utter destruction by the Trump regime. Trump's Encore, right?" [15:02]
The brothers call on their audience, the MeidasMighty, to remain vigilant and support initiatives that uphold democracy and economic stability.
Key Takeaways
- Historical Parallels: Trump's past business failures in Atlantic City are repeating in Las Vegas.
- Economic Decline: Significant drops in tourism, gambling revenue, and employment in Las Vegas.
- Media Criticism: Local media outlets are increasingly critical of Trump's actions and decisions.
- Public Impact: Contractors and local businesses suffer due to Trump's financial mismanagement.
- Call to Action: Emphasis on supporting democracy and holding Trump accountable to prevent further economic harm.
Notable Quotes
- David: "Donald Trump is causing severe damage to Las Vegas, which relies on tourism dollars." [01:22]
- Marvin Roffman: "The Taj would have to make close to a million three a day to break even. No casino in the world ever had that kind of number." [07:03]
- Howard Stevenson Stutz: "It's not the tariffs, it's the disrespect... all the rhetoric coming out of the White House." [13:41]
- Charlie: "Had I known that Trump was going to take over the job, I would have never done the job." [07:40]
- David: "Utter destruction by the Trump regime. Trump's Encore, right?" [15:02]
Final Thoughts
This episode provides a comprehensive analysis of Donald Trump's detrimental effect on Las Vegas, drawing from historical events, current economic data, and personal testimonies. The Meiselas brothers effectively argue that Trump's relentless pursuit of personal and political agendas continues to undermine the very foundations of democracy and economic prosperity in key American cities.
Join the MeidasTouch Podcast every Tuesday and Friday morning for more in-depth political analysis, comedy, and discussions on supporting democracy.