Proposed Texas Ranger Stadium is a $Billion Folly!
June 26, 2016
Dear Brett Shipp WFAA-TV
I heartily applaud your efforts to expose the problem with the way the Texas Rangers are attempting to get the Arlington taxpayers to build them an even more elaborate baseball stadium. These same taxpayers have been hoodwinked twice already to get them to help pay for both the current Ranger stadium and the Cowboy stadium aka "JerryWorld".
Your analysis shows that this proposal is a bait and switch scheme that proposes a 50/50 funding but is really an 80/20 funding of this new stadium.
However the economics of this new stadium is being supported by a massive U.S. Government fraud that I call USAPonzi. The U.S. Government has been running a massive Ponzi scheme fiscal policy since FY1969 that makes the United States appear to be much more prosperous and wealthy than it really is by $102.6 Trillion (See Getting Rich on Borrowed Money).
The U.S. Government is creating imaginary-counterfeit money out of "thin air" with this Ponzi scheme by borrowing it from the future U.S. taxpayers so any decision by the Arlington taxpayers to fall for this proposal would be foolish and absurd. They have already made two huge mistakes by building Arlington Stadium and Cowboy Stadium, they do not need to compound the problem by building what would be yet another "ghost stadium".
The effect that USAPonzi is having on the business of professional sports is explained in Chapter 6 of my book "USAPonzi"; "Why Pro Athletes make $Millions" and "How USAPonzi created America's Team".
You can learn more about this fraud/Ponzi scheme by reading my website www.usaponzi.com or better yet by reading my book "USAPonzi" which is available on Amazon and also on my website in PDF format.
This is the biggest ($102.6 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!
John W. White