Trump’s ‘Art of the Deal’ can’t reopen the Strait of Hormuz—and it’s threatening a recession

Donald Trump has spent the better part of 40 years mastering a single, ruthless skill: making other people absorb his losses. He perfected it in Atlantic City, where, as Fortune’s Shawn Tully reported, his casino empire lost a total of $1.1 billion, twice declared bankruptcy, and wrote down or restructured $1.8 billion in debt, as Trump paid himself roughly $82 million.

Trump also refined his methods in bankruptcy courts over the decades, filing for Chapter 11 protection six times across...