For all his bombast, Trump is plummeting – financially, legally and politically

Donald Trump is doing his best Wizard of Oz imitation. These days, Trump is not looking like the “winner” he needs voters to believe him to be. Like the title character in L Frank Baum’s 1900 children’s fantasy and the 1939 movie, there is less there than meets the eye. The 45th president’s lead in the polls evaporates while his cash stash shrinks.

His upcoming felony fraud trial in Manhattan looms. For the record, he is zero for three in his bids to adjourn the trial, and lawyers are expensive.

At the same time, the stock price of Trump Media & Technology Group – his eponymous meme stock, DJT – has plummeted this week. “DJT stock is down again,” announced Barron’s on Thursday. “Trump’s stake in Truth Social parent has taken a hit.”

Elsewhere a headline blared: “Trump’s ‘DJT’ stock dives to lowest close since Ron DeSantis dropped out”. Reminder, Trump is a guy whose businesses are no stranger to bankruptcy or allegations of fraud. He leaves wreckage in his wake.

The spirit of Trump University remains alive. Like life in Oz, so much in Trump World is illusory.

Meanwhile, Trump’s attempts to bond New York state’s $454m judgment have run into a legal roadblock. The purported bond posted to avoid enforcement pending appeal may be legally insufficient. Letitia James, the state’s attorney general, demands clarification. Whether the paperwork will be sustained will be decided at a court hearing later this month.

If the court finds the bond to be insufficient or invalid, James may be able to immediately seek to collect what the state is owed. Financial humiliation set against the backdrop of the campaign is something that Trump can ill afford.

For the record, he has already posted a $91m bond to stave off enforcement in the second E