Mercedes-Benz Stadium Debacle
November 21, 2017 Emailed to WSJ/NYT/DMN 11/21/17
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains how U.S. Government fiscal and accounting fraud has appeared to make it economically feasible to demolish the Georgia Dome and build Mercedes-Benz Stadium!
The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”!
Mercedes-Benz Stadium Debacle
November 21, 2017
The U.S. Government is running a Ponzi scheme (USAPonzi) that is creating money out of “thin air” that appears to make it possible to tear down old sports arenas and build newer and fancier ones. This phenomenon is occurring throughout the United States. The demolition of the Georgia Dome yesterday marks the completion of a project that will be a financial debacle for the Atlanta Falcons and the associated local governments when USAPonzi implodes!
The U.S. Government is fraudulently creating imaginary-counterfeit wealth and income for the current Americans by borrowing money from the future Americans, that the future Americans do not have, and giving it to the U.S. upper class! This imaginary-counterfeit wealth has fraudulently made professional sports appear to be a lucrative business activity and the NFL is the poster child for this imaginary business success!
The U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)! The U.S. Government is not properly accruing for the future benefit promises that it has made to the U.S. general public. The U.S. Government has deferred $109.0 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans, has undertaxed the U.S. upper class by $109.0 Trillion, and has underfunded the future benefit promises to the U.S. general public by $88.5 Trillion (US Unfunded Future Liabilities).
The corrupt U.S. Government is fraudulently borrowing fake money ($109.0 Trillion so far) from the future Americans so that it can enrich itself and its U.S. upper-class friends! I call this fake money; imaginary-counterfeit money! The U.S. Government has given this $109.0 Trillion to the U.S. upper class by undertaxing them! The U.S. Government has then borrowed $20.5 Trillion (National Debt) from the fraudulently enriched upper class so that it can overpay itself and its related businesses!
The corrupt U.S. Government is cheating the U.S. general public by promising to pay U.S. Government benefits but has underfunded these benefit promises by $88.5 Trillion so that it can enrich itself and its U.S. upper-class friends!
The corrupt U.S. Government is cheating the rest of the planet by borrowing fake money ($109.0 Trillion) from the future Americans and giving it to the current Americans so the current Americans can buy stuff from the rest of the planet with this fake money!
This is a fraud and a Ponzi scheme because the future Americans do not have $109.0 Trillion!
This Ponzi scheme fiscal policy is fraudulently creating imaginary-counterfeit wealth and income for the current Americans by deferring public liabilities to the future Americans.
We are fraudulently buying cars with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans!
We are tearing down houses and building bigger and nicer houses with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!
We are paying more and more for tickets and TV subscriptions to watch football with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!
We are tearing down sports arenas and building bigger and nicer sports arenas with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!
The Georgia Dome was built for a cost of $214 Million in 1992 and now has been replaced by the $1.6 Billion Mercedes-Benz Stadium just 25 years later! When this Ponzi scheme implodes, the value of the Mercedes-Benz Stadium will drop precipitously! The U.S. Government is producing a geyser ($109.0 Trillion) of imaginary-counterfeit money with GAAP basis deficit spending that will evaporate when USAPonzi implodes (See NFL Death)!
Mercedes-Benz has signed on for a 25 year naming rights sponsorship that is reported to be for a total of $900 Million! Mercedes-Benz has also been fooled by this U.S. Government fraud! I estimate that Americans are buying 5-7 times as many cars each year, as we can afford, because we are buying these cars with the now $109.0 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans! When USAPonzi implodes, the Mercedes-Benz corporation will be forced to default on this 25-year naming rights sponsorship because they will be selling a lot less cars in America (See The Automobile Bubble)!
In fact, Mercedes-Benz will not sell any cars in America for a long, long time, when USAPonzi implodes, because we in America have cars running out of our ears that we have already bought with the $109.0 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.
The Implosion of USAPonzi will trigger “Great Depression II”!
The U.S. Government is “Cooking the Books”! The U.S. Government is corrupt!
The U.S. Government is running a $109.0 Trillion Ponzi scheme!
The senior members of the U.S. Government are “Criminals, Scoundrels, Liars, and Cheaters”!
The rich and the powerful in America have conspired to use fiscal and accounting fraud to enrich themselves!
Because of this Ponzi scheme; people, governments, and corporations are making foolish financial decisions because they are being fooled by this U.S. Government fiscal and accounting fraud!
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Nov 21, 2017
To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.
This fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.
This is the biggest ($109.0 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White