Friday, September 22, 2017

From the comments of "Commissioners delay vote on High Point baseball stadium"

High Point University President Nido Qubein raised $50 million for a baseball team, 
a children’s museum, a park and an event center.

Margaret Moffett
News and Record reporter

Who are the donors?

Margaret doesn't know, or she didn't bother to find out, or she doesn't care enough about fiscal issues enough to inform her readers of the answers.

Have you seen a bank statement showing the $50 million Margaret?

Are Roy Carroll and the Blue Ridge boys on the donor list, considering how much money they stand to make from taxpayers?

Is the $50 million supposed to come in over time?

What happens if the project fails? How is it that no one has been provided any details of the projections of what the losses would be to whom if this thing goes belly up?

How much is Greensboro's ballpark expected to lose after a competing facility and area open up 20 minutes away?

High Point leaders need a way to pay off the bond they’d take out to build the stadium. 

They’ve asked Guilford County to forgo any extra tax revenue 
generated by new development within the zone, 
which would cover 20 percent of the loan payments."

Margaret Moffett

Don't you mean 'could' "cover 20 percent of the loan payments" Margaret?

Where is the information which factually points out that extra tax revenue would materialize?

Where is the math on the property values which doesn't include government owned and non-profit parcels used in the initital bogus projections?

Can you see how misleading this piece is on the questions concerning the project?

The proposal of any [businessmen]
ought always to be listened to with great precaution, and ought never to be adopted,
till after having been long and carefully examined
not only with the most scrupulous, but with the most suspicious attention.

It comes from an order of men
whose interest is never exactly the same with that of the public,
who have generally an interest to deceive and even to oppress the public,
and who accordingly have, upon many occasions both deceived and oppressed it.

Adam Smith
Moral philosopher and Father of Modern Economics

"The stadium proponents claim to have raised 50 million dollars. The total cost of the stadium is said to be 45 million, of which 15 million in taxpayer dollars have already been approved. That leaves a gap of just 30 million, which the supposed 50 million in private dollars would cover with 20 million left over.

 Why borrow a 30 million dollar bond, which will have to be repaid with interest, all with public tax dollars, when you already have 50 million dollars in hand? Unless, of course, that 50 million doesn’t actually exist…"
Frank Swanson
.
.
Questions for High Point's City Counsel, BB&T and Nido Quebein

 http://greensboroperformingarts.blogspot.com/2017/09/questions-for-high-points-city-counsel.html

If we’ve been bamboozled long enough, 
we tend to reject any evidence of the bamboozle. 

We’re no longer interested in finding out the truth. 

The bamboozle has captured us. 

It’s simply too painful to acknowledge, even to ourselves, that we’ve been taken. 

Once you give a charlatan power over you, you almost never get it back.

Carl Sagan

High Point Mayor Bill Bencini's payoff for taxpayer funded give aways for Blue Ridge's David Couch and Chris Dunbar

 http://greensboroperformingarts.blogspot.com/2017/09/high-point-mayor-bill-bencinis-payoff.html

Sometimes the law defends plunder and participates in it.

Sometimes the law even places the whole apparatus of judges, police, prisons and gendarmes
at the service of the plunderers, and treats the victim, when he defends himself, as a criminal.

But often the masses are plundered and do not even know it.

Frédéric Bastiat

 Susan Ladd and financial illiteracy on High Point's ballpark proposal

 http://greensboroperformingarts.blogspot.com/2017/09/susan-ladd-and-financial-illiteracy-on.html

Political ideas that have dominated the public mind for decades
cannot be refuted through rational arguments,
they must run their course in life and cannot collapse otherwise than in great catastrophe.”

Ludwig Von Mises

 Nido Qubein; How much economic growth could Greensboro lose if High Point builds a baseball ballpark area like Greensboro's?

 http://greensboroperformingarts.blogspot.com/2017/09/nido-qubein-how-much-economic-growth.html

 Dr Nido R Qubein Becomes The Voice Of God

 http://greensboroperformingarts.blogspot.com/2017/09/dr-nido-r-qubein-becomes-voice-of-god.html

Trickle-down theory - the less than elegant metaphor
that if one feeds the horse enough oats,
some will pass through to the road for the sparrows.

John Kenneth Galbraith

 Greensboro council to consider taxing the City's poor to give a parking deck to Tuggle Duggins and Roy Carroll

 http://greensboroperformingarts.blogspot.com/2017/09/greensboro-council-to-consider-taxing.html

 "Let me explain the “markets are wrong and we boom now” argument"

 http://greensboroperformingarts.blogspot.com/2017/09/let-me-explain-markets-are-wrong-and-we.html

 Not one word from Scott Yost and Roy Carroll's Rhino Times concerning Roy's pitch for a hotel overlooking High Point's proposed ballpark

 http://greensboroperformingarts.blogspot.com/2017/09/not-one-word-from-scott-yost-and-roy.html

Government spending is the ultimate tax on the economy.

Milton Friedman
Economic Nobel Laureate

 Sometimes knowing/thinking of what most probably will come can be a pain in the ass

 http://greensboroperformingarts.blogspot.com/2017/08/sometimes-knowingthinking-of-what-most.html

See if the law takes from some persons what belongs to them,
and gives it to other persons to whom it does not belong.

See if the law benefits one citizen at the expense of another
by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay.

If such a law is not abolished immediately it will spread, multiply
and develop into a system.

French economist Frederic Bastiat (1801-1850)

 Duke Energy requests 16.7 percent rate hike [Tax Increase] on residential customers

 http://greensboroperformingarts.blogspot.com/2017/08/duke-energy-requests-167-percent-rate.html

 City Of Greensboro: $147,000 Unaccounted For

 http://greensboroperformingarts.blogspot.com/2017/08/city-of-greensboro-147000-unaccounted.html

 Greensboro, North Carolina; "Crony capitalism is the worst case in point"

 http://greensboroperformingarts.blogspot.com/2017/08/greensboro-north-carolina-crony.html

Ponzi finance units must increase outstanding debt
in order to meet financial obligations.

A transition occurs over the course of an expansion
as increasingly risky positions are validated by the booming economy
that renders the built in margins of error superfluous,
encouraging adoption of riskier positions.

Eventually, either financing costs rise,
or income comes in below expectations,
leading to defaults on payment commitments.

Hyman Minsky
Believed excessive debt causes financial crises

 Eclipse thoughts; "We have 1,000 years", If That...

 http://greensboroperformingarts.blogspot.com/2016/11/we-have-1000-years-if-that.html

 Marty Kotis re-upping his campaign bribe funded $359,883.33 gift from his City Council cronies at Tuesday's meeting

 http://greensboroperformingarts.blogspot.com/2017/08/marty-kotis-re-upping-his-campaign.html

Human beings are… of two persuasions,
the first would spend tomorrow what they earn today,
the second would spend today what they hope to earn tomorrow.

From this…arise all conflicts that lead to economic crises,
to panics, depressions, violent and revolutionary transfers of wealth
and perhaps most wars.

Freeman Tilden

 What are the chances Justin Outling isn't playing ball for Brooks, Pierce's other clients if he got 16 Brooks, Pierce employees to give to his campaign so far?, and some Marty Kotis

 http://greensboroperformingarts.blogspot.com/2017/08/what-are-chances-justin-outling-isnt.html

We Americans are not usually thought to be a submissive people, but of course we are.

Why else would we allow our country to be destroyed?

Why else would we be rewarding its destroyers?

Why else would we all
by proxies we have given to greedy corporations and corrupt politicians
be participating in its destruction?

Most of us are still too sane to piss in our own cistern,
but we allow others to do so and we reward them for it.

We reward them so well, in fact,
that those who piss in our cistern are wealthier than the rest of us.

Wendell Berry

 "Councilman Justin Outling violated conflict of interest rule", and should resign

 http://greensboroperformingarts.blogspot.com/2017/08/councilman-justin-outling-violated.html

 Ever wonder how crooked the Bryan Foundation's Jim Melvin is?

 http://greensboroperformingarts.blogspot.com/2017/08/ever-wonder-how-crooked-bryan.html

Statements by high officials are practically always misleading,
when they are designed to bolster a falling market.

Gerald M Loeb

 "Contribution" and "Greensboro"

 http://greensboroperformingarts.blogspot.com/2017/08/contribution-and-greensboro.html

 If you want to understand how corrupt Greensboro is, read Billy Jones' post on Roy Carroll and The Rhino Times

 http://greensboroperformingarts.blogspot.com/2017/07/if-you-want-to-understand-how-corrupt.html

All animals are equal,
but some animals are more equal than others.

George Orwell

 The decline of great powers
is caused by simple economic over extension.

 Paul Michael Kennedy
British historian, and author of “The Rise and Fall of the Great Powers”
People who have what they want 
are fond of telling people who haven't what they want,
that they really don't want it.

Ogden Nash 

This country, with its institutions belongs to the people who inhabit it

 Whenever they shall grow weary of the existing government
they can exercise their constitutional right of amending it 
or exercise their revolutionary right to overthrow it

 Abraham Lincoln
For imposing Taxes on us without our Consent

The unanimous Declaration of the thirteen united States of America


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