Will Trump Survive? I Wouldn’t Be Surprised.

Remember a long-time member of Congress from Brooklyn named Emanuel Celler? He served in Congress for 50 years and ran the Appropriations Committee which basically wrote the federal budget every year.

He was challenged in the 1972 Democratic primary by an unknown young lady named Liz Holtzman, an election for which Celler didn’t even bother to come back to his home district in order to campaign. He lost the primary by a whole, big 635 votes.

Everyone who serves in Congress knows what happened to Manny Celler in 1972. Which is the reason politics is one of the two most risk-averse careers you can have. The other career which is just, if not even more risk-averse than politics, is real estate development.

The reason that real estate development is so risk-averse is that you never know when the market is going to change. You can start putting up a high-rise condo in the middle of the hottest real estate market of all time, and just as you put the last brick on the building, all of a sudden that long line of people wanting to buy one of your apartments disappears.

Which is the reason real estate developers always try to get some bank to put up the money for their project, because the last thing they want to do is risk their own dough on a deal that can go south in a heartbeat or even less time.