Tag Archives: capitalism

That’s How We Do: Juxta-Posers

7 Feb

Just thought I’d repost this from a few years ago after listening to Lawrence O’Donnell today and The POTUS yesterday speak about Socialism and how we (The USA) will never, ever be a socialist country in any way shape or form…

Today I took a drive to the Philadelphia airport and on the drive home, thanks to major construction and the worn out, pot-holed, crumbly highway, I was forced to a crawl just as I passed the relatively new South Philadelphia Stadium Complex. Where the Philadelphia Phillies, Eagles and Flyers play.

I couldn’t help but notice how shiny and new and spectacular the stadiums looked…however I also couldn’t help but notice that the names on the stadiums were Citizens Bank Park Stadium, Lincoln Financial Field and The Wells Fargo Center. And I also couldn’t help but notice that the surrounding neighborhoods were about as shiny and new and spectacular as the interstate highway  that I was traveling on.

And that got me to wondering…Why do we almost always put sports stadiums in the worst parts of big cities where then millions of people have to travel from the suburbs to spend millions of dollars to watch millionaires play? Probably you’ll say it’s so we can get all of that money that is being spent back into the cities…but that’s just not the case

Most if not all of these stadiums are financed by the crumbling cities themselves rather than by the wealthy teams and owners and financial institutions that have their names on them. And even though banks like Wells Fargo and  Citizens bank and Lincoln Financial pay millions for the naming rights, when you consider the recent trillions of dollars spent by the federal government in bailing out these banks then just about all of the money spent on these ballparks comes from…the citizens…not banks.

 That’s just plain crazy.

Many politicians and proponents of these publicly financed stadiums argue that new stadiums bring new jobs and economic expansion but when new sport stadiums are financed with public money, all research has shown that the population is actually worse off economically than before the stadium.

In fact arenas and stadiums rarely live up to the promises teams, owners, and city politicians use to justify their construction. Cities are often left holding unsustainable amounts of debt because the economic development that is promised never shows up, and as a result, other services that provide more benefit to taxpayers like new roads and bridges and jobs and boring things like that are slashed to pay the bills.

Which when you think about it is insane.

Almost 40 years ago my home state of New Jersey borrowed $302 million to  construct  the Meadowlands and was supposed  to pay off the bonds in 25 years. Today because of refinancing, and redirecting funds for other stadiums the authority that runs the Meadowlands owes $830 million…on a stadium that was just torn down.

That’s nuts!

Did you know that according to a new study from Harvard: when public-private partnerships are used to build such stadiums, taxpayers finance more than three-quarters of the investment, with teams and owners picking up just 22 percent of the tab…And every NFL franchise is today worth over 1 billion dollars!

It’s so ridiculous that it’s unbelievable!

And while our cities and infrastructures are crumbling around us we are cheering ourselves up by yelling, screaming and cavorting in the midst of abject poverty on urban oases as green as the piles of cash we spend there, named after banks that wouldn’t lend us a dollar under the very same deals and interest rates that they broker to build these coliseums.

Shouldn’t we  really be building these monuments to fame and fortune in the places where they belong like Beverly Hills, Wall Street and Fort Knox?

It’s so ridiculous that it defies explanation…

But after all…that’s just how we do…isn’t it?

 

Who’s Struggling Now?

28 Sep
American citizens (along with other international students) can now attend all German universities…for free! And that’s because the last German state to charge university tuition has eliminated those fees! Wow! How do they do it? College for free? And for foreigners too? Didn’t we go to war with this country… and win… 70 years ago? Shouldn’t we be charging them money to go to our universities? And so much so that school is free for all of us Americans? You know, like that wall Donald trump wants to build and make the Mexicans pay for.
So what gives? Why is Germany being so nice to us and how can they afford it? Apparently most German statesmen and stateswomen believe that tuition fees are unjust and that they discourage young people, who do not have a traditional academic family background, from taking up study. Gee, In the Unites States that’s the whole point of higher education isn’t it?… To separate the haves from their money while also separating them from the have-nots, who don’t have any money to be separated from in the first place.
The Germans also believe that It is a core task of politics to ensure that young women and men can study with a high quality standard that is free of charge. For goodness sake where did they get these ideas? In the U.S. the core task of politics is to raise the interest rate on student loans while making sure that those loans are exempt from bankruptcy filings guaranteeing that America’s young students will be in debt to financial institutions for all time…and so far to the tune of over 1 trillion dollars!
And get this! Even before Germany abolished college tuition for all students, typical semester fees were around $630 and German students could also count on discounts for food, clothing, events, and inexpensive or even free transportation to and from school…Come to think of it we used to do that here in the states too, back in the 70s. I remember that because I was there! But then we got wise and realized that marketing to students, teenagers and even little kids is tremendously lucrative, especially when they have to borrow all of their money from adults! It was like taking candy from babies! or, er, well, selling candy to babies! And today we are all proud to say that the average student loan debt in the U.S. is now almost 30 thousand dollars…with a bullet!
Silly Germans! What are they thinking? Have they gone socialist on us…in just 70 years? We sure didn’t indoctrinate those folks very well did we? They never learned anything about free enterprise and unfettered capitalism! Now they are just giving valuable educations… to their children…for free?! And they want to include our children as well!!
Ach, du lieber! Mein Kampf! When they ask your children what language they’d like to study in high School, make sure you tell them to say, German! Duh, I mean Deutsch! And forget that college savings plan. Just start booking those tickets now! This is America, remember?! By next year a ticket from here to Germany will probably cost $100,000!!! One way!
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