Our financial system is crumbling this week.

[Freed Roger]

And now the Dow is down again

[doe_boy]

Is this a real story or just some sort of clickbait?

[Secret Weapon]

[slide_into_first]

My reading of the tea leaves says bonds have topped, copper has bottomed, inflation is coming. Disclaimer: I'm not very bright.

http://www.bloomberg.com/news/articles/ ... an-support

[Jocephus]

The Taxpayers Protection Alliance Releases New Report on NFL Stadium Financing

Washington, D.C. - Today, the Taxpayers Protection Alliance (TPA) released a new report, “Sacking Taxpayers: How NFL Stadium Subsidies Waste Money and Fall Short on Their Promises of Economic Development” detailing the public financing deals for NFL stadiums across the country. The report examines the economic impact of taxpayer-financed NFL stadiums on the people who pay the taxes that fund the construction of those very stadiums. Since 1995, a staggering 29 of the 31 stadiums that house NFL teams received public subsidies for construction, renovation or both. Over the last twenty years, taxpayers have been forced to spend nearly $7 billion subsidizing NFL stadium construction and renovation projects.

“Americans love watching the NFL and football fans love going see their team play each week at stadiums across the country,” said David Williams, TPA President. “Unfortunately, beneath all of the glitz and glamour, these venues are nothing more than monuments to corporate welfare and taxpayer handouts. These stadiums have been built on the backs of taxpayers who had no or little say in the matter and in many cases have benefitted little or not at all.”

The report comes as the NFL prepares to open its 2015 season on Thursday night September 10 as the Pittsburgh Steelers visit the defending Super Bowl Champion New England Patriots. The game will be played in Gillette Stadium, which was built using $72 million of taxpayers’ hard-earned money.

St. Louis Rams
The Rams might not win a lot of football games, but they certainly win the award for having the biggest
villain for an owner. Stan Kroenke is worth well over $6 billion, yet he refuses to pay for stadiums for the
teams he owns.
Kroenke obviously believes struggling families should buy his stadiums, even though he’
s the one rak
-
ing in tens of millions of dollars a year from the Rams, as well as his other professional teams, including
the NBA’s Denver Nuggets and the Colorado Avalanche of the NHL.
St. Louis and Missouri taxpayers paid the full $280 million cost of construction for the Edward Jones
Dome in 1995. But that isn’t good enough for Kroenke, who is threatening to move the Rams back to
Los Angeles if the public doesn’t agree to build him another, newer stadium.
The bad news for taxpayers is that state and local officials appear willing to give in to Kroenke’
s absurd
demands.
Government officials have apparently promised Kroenke $500 million in subsidies towards his $998
million dream stadium – and that’s in addition to the $12 million annually the state is paying until 2022
on the Edward Jones Dome.
20
Poverty Rate before Stadium:
29.5%
Poverty Rate after Stadium:
27.2%
Median Income before Stadium:
$36,229
Median Income after Stadium:
$34,346
Cost to Taxpayers:
$280 million

http://protectingtaxpayers.org/assets/f ... pt2015.pdf

[Freed Roger]

These guys just can't get enough handouts. Walmart/Sams -where Kroenke has amassed fortune in development - have been highly subsidized by taxpayer handouts. Then goes back for more welfare with stadiums.

Long long ago I imagined Kroenke was going to say -what the hell, and build a nice STL outdoor stadium out of his pocket. But it was easy to imagine things from someone that is a mute. A guy that gets obscenely wealthy off by gorging himself from the public trough -and he never speaks publicly (or to public officials as far as I know).

Oh well, what should we expect from a guy that choses to look like Hitler.

[GeddyWrox]

These guys just can't get enough handouts. Walmart/Sams -where Kroenke has amassed fortune in development - have been highly subsidized by taxpayer handouts. Then goes back for more welfare with stadiums.

Long long ago I imagined Kroenke was going to say -what the hell, and build a nice STL outdoor stadium out of his pocket. But it was easy to imagine things from someone that is a mute. A guy that gets obscenely wealthy off by gorging himself from the public trough -and he never speaks publicly (or to public officials as far as I know).

Oh well, what should we expect from a guy that choses to look like Hitler.

But those welfare queens and their Obama phones are RUINING 'murica!!!

[pioneer98]

OK so the Fed is not raising interest rates even though lots of people think they should. They raise rates is to battle inflation right? Well, inflation is still really low. At least how they measure it. They look at commodity prices basically. Gas, food, clothees, cars, manufactured goods, etc. Do "experience" type of products like baseball tickets, movie tickets, concert tickets, vacations, etc get included at all? I don't think they do. So this is how we end up with the situation we have today: stuff like gas, food, etc are dirt cheap, but wages are increasing. So people have extra income. So demand for things like baseball tickets is really high. So prices go way up. Sort of talks about it here a little:

http://thereformedbroker.com/2015/09/25 ... um=twitter

[Arthur Dent]

OK so the Fed is not raising interest rates even though lots of people think they should. They raise rates is to battle inflation right? Well, inflation is still really low. At least how they measure it. They look at commodity prices basically. Gas, food, clothees, cars, manufactured goods, etc. Do "experience" type of products like baseball tickets, movie tickets, concert tickets, vacations, etc get included at all? I don't think they do. So this is how we end up with the situation we have today: stuff like gas, food, etc are dirt cheap, but wages are increasing. So people have extra income. So demand for things like baseball tickets is really high. So prices go way up. Sort of talks about it here a little:

http://thereformedbroker.com/2015/09/25 ... um=twitter

Why do you say this? The Fed's preferred inflation gauge is the core PCE deflator, which specifally excludes certain commodity prices, specifically food and energy. Things like baseball tickets are, I believe, included, though not a major component of consumer spending. There is also certainly not anything like a wage boom bidding up prices right now. It would be great if workers bargaining power was in a place where that might actually, but it isn't, which is why inflation is so low.

[AWvsCBsteeeerike3]

Here's a breakdown according to wiki of how PCE and CPI is measured.


https://en.wikipedia.org/wiki/Personal_ ... rice_index

98, I'd disagree that wages are rising.