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This week, Donald Trump's lawyers admitted that he's failed to secure a bond to cover the half a billion dollar penalty he faces in his civil fraud case in New York.

He asked an appeals court to delay the judgment because, as the New York Times delicately noted, he does not have

enough liquidity to persuade any company to provide that bond. Translation, he doesn't have the cash.

This is humiliating to Trump, especially relative to his own self mythology. But we think this also

points to a series of broader weaknesses that go well beyond this story,

ones that could hobble his 2024 campaign and are only just becoming apparent.

Today, we're discussing this with the New Republic's Timothy Noah,

author of a great new piece on Trump's financial travails,

which predicts that in the next few years, Trump will declare bankruptcy.

Welcome, Tim.

...