Digital World Asset Company (DWAC) is the blank check company that partnered with Donald Trump for his IPO of Truth Social– the shitshow social media platform he formed after he was banned from Twitter & Facebook for his coup attempt on Jan 6, 2021. A blank check company is a publicly traded company that has no operations or assets at the time of its IPO. Also known as a special purpose acquisition company (SPAC), these are people with money to burn and no ideas of their own, but always with a political axe to grind. That axe is being sharpened to cut down working class opposition to fascism, which is the billionaire class preference over Genocide Joe Biden.
Truth Social (DJT) reaches <2% of Americans, and by all metrics it is hemorrhaging active users. Truth Social lost over $50M last year, and only had $5M in total revenue. Five million dollars is a fair measure of what Donald Trump’s grassroots support is worth in a year. But as always, it is the cost of Donald Trump that decisively outweighs any of his cash flow.
Trump Social (DJT) as a publicly traded company is grossly overvalued & insanely out-of-proportion with its underlining business metrics– because of politics. Trump reportedly owns about 79 million shares of Trump Media, 70% of the total. Trump Media stock closed at $57.99 on Tuesday, March 26, giving the company a market value of roughly $8 billion. That is the bond market speaking. Donald Trump will not be threatened with asset seizure, prison time, etc, due to debts he can’t pay. The bond market backs Trump. That eight billion bucks surely isn’t coming from his grassroots supporters.
In an illuminating side note, one of the partners in the deal, Patrick Orlando the former CEO of Digital World is already suing Trump, claimed he was short-changed. Patrick Orlando, Digital World, and Trump Media are all “no comment” on this– it’s a ruling class affair. After the deal was signed last October, Trump fired CEO Patrick Orlando, changed the company name to Trump Media, and replaced its board of directors with Trump loyalists. The SEC approved the Trump-Digital World merger last month.
According to the bond market, the “leftist” credentials of Bernie Sanders, AOC, etc, have been worn out, and Joe Biden doesn’t inspire any confidence, so it’s time to prepare for fascism in the form of Donald Trump.
There is no need to talk of the Republican Party anymore. Republicans are now the Trump Party, which is the right-wing, anti-science lunatic fringe. Donald Trump has purged the entire Republican Party of those deemed insufficiently loyal, and is in control of its political machinery & bank accounts. It’s the Trump Party & the Democrats now.
The right-wing “independent” campaign of RFK, Jr represents more of a ballot-box threat to the Trump campaign than to Joe Biden & his Democrats. It’s the Democratic Party that is going after the RFK, Jr campaign with everything it has got because their job is to disorient the working class and pave the way for Trump. Democrats are always moving to the right.
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