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Monday, August 8, 2016

The Waste of $$$ which is the Olympics

God how we hate the Olympics, that corporate contrived sham that the whole world is united, everyone loving one another in the cradled bosom of tolerance and coexistence and all it takes to break barriers is sport..

Its funny, but the vile 1936 Munich Olympics was probably the closest thing to displaying how the nations and peoples of the world Sincerely see one other than any other and without phony pretense

Anyways read an article over the weekend where the mayor of Los Angeles, a biased pro-Hillary liberal no doubt 'warned' that if Trump wins the Presidency, it would negatively affect LA's chances of hosting the 2024 Olympics

To which we respond its just Another reason to vote Trump.
Olympics Games are complete and total money losers.. They've been so for over 30 years, and that goes for both Summer & Winter Games.

The reason nations clamor to host is 1% National Pride and 99% all the profit and kickbacks local businesses and politicians make from kickbacks and over-inflated prices for building the venues that would make the Pentagon proud...

They also have a tremendous negative effect on the local economies on the sites their held as money that barely go to the poor and destitute as it is, is continually siphoned to the Games making their situation even worse after..

Let's look at Rio for a moment..
There's economy is in very bad shape, currently suffering their worst economic recession in over 80 years and still according to Reuters, the sports-related costs of the games in Rio are likely to end up being approximately $4.6 billion.

That means the games will end up being approximately 51% over budget. The overall cost of the simply Olympic-related building projects has been estimated at $12 billion for which the state of Rio is responsible for $3 billion..

This does not count other expenses like security presence and other miscellaneous like bribes and other illegal efforts to lure the Olympic Committee to approve the site location
Subway construction, temporary power at venues and seating have all raised the costs of this year’s games and running a deficit between $121 million to $151 million

Meanwhile their city is mostly deplorable slums and dire poverty where drug trafficking and distribution runs rampant

And like all nations, Brazil chose to spend money not on bettering its people, but global egotism
Both the most recent summer games in London and winter games in Sochi, Russia have been the most expensive on record.  London came with a $15 billion price tag  Sochi topped off at $21.9 billion.

According to a study at the Business School of Oxford, NO Olympic Games have come in under budget since 1960

The study also found that "at 156% in real terms, the Olympics have the highest average cost overrun of any type of mega-project,..  For a city and nation to decide to stage the Olympic Games is to decide to take on one of the most costly and financially most risky type of mega-project that exists, something that many cities and nations have learned to their peril.”
When Brazil was announced as the host of the first ever games in South America in 2009, the country’s economy was booming. Now the games are coming amid the worst economic recession Brazil in the last 80 years.

Despite our obliviousness to reality starting with that arrogant mulatto mule President who has the audacity to act like the nation is in good shape due to his leadership all the while worthless Democrat celebrities this past weekend feted and figuratively sucked his you-know-what to show their love of him on his birthday..

The US National Debt as of this very second is over $19.417 Trillion which averages out to $59,900 per person and $162,000 per actual taxpayer since over 90 million people do not work or contribute in any way to the economic betterment of the nation

That's $19,417,000,000,000

And the mayor of LA is talking about Trump being an impediment to hosting the completely Inconsequential event!!
Now let's go back to look at some other Games..

The 2004 Games in Athens ended up costing $15 billion for that small EU nation..

The costs have often been cited as a major contributor to the Greek government-debt crisis. Many of the venues lie vacant and rotting; the Independent UK newspaper reports as many as 21 out of 22 are currently unused..

Beijing in 2008 cost China a whopping $44 Billion and said at the end of the day, they made a profit of $146 million which comes to 0.03%

In other words, 30 cents profit per $100..  

We guess that's better than taking a loss but not by much..
Russia spent over $50 million to host the 2014 Winter Games, the most ever while in a recession

Back in 1998, Nagano Japan hosted the Olympics..

Organizers made big promises about increased tourism in the wake of the Games. But after the closing ceremony, the crowds never really came back.   To make matters worse, the city went over its original budget by 56%

Allegations of corruption were leveled and entire boxes of financial records were reportedly burned. The cost of luring the games to Nagano remains unknown.
Then there's the 1980 Lake Placid, USA Games.. the one our hockey team won as the nation was in the midst of a deep recession and malaise

The Lake Placid Games were 320% over their original budget by the closing ceremony, according to the Oxford researchers.   The organizers were left with a deficit of about $8 million, and needed a bailout from the New York state legislature in order to pay creditors.

Eight million seems paltry by today's standards but thanks to continued Fed dollar devaluation, that $8 million in 1980 is  $23,258,072.35 at present

On and on it goes..