Texas Rangers Globe Life Field Debacle!
September 22, 2017 Emailed to WSJ/NYT/DMN on 9/23/17
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 fraud has caused the Texas Rangers and the City of Arlington, TX to make a really, really bad decision to build another baseball field!
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".
Texas Rangers Globe Life Field Debacle!
September 22, 2017
Today's Dallas Morning News had a front page article by Loyd Brumfield featuring the ground breaking next week of the new Texas Rangers baseball field named "Globe Life Field".
This new baseball field for the Texas Rangers is a $1.1 Billion financial debacle!
Dear Mr. Brumfield
CC James Moroney Publisher Dallas Morning News
You and the Dallas Morning News would be a lot more effective as a public communications vehicle if you would inform the City of Arlington that they are entering into major financial debacle by building a new baseball park whose financial viability is based on a massive financial fraud that is being perpetrated by the U.S. Government.
This fraud is not just a problem of causing the City of Arlington to make a really, really bad financial decision. This fraud is causing dramatic inequality between the haves and the have-nots.
The Dallas Morning News needs to inform the U.S. general public that the U.S. Government is cheating them so the U.S. upper class can have nice things like big houses, big cars, country club living, and a plush air-conditioned environment for their baseball entertainment!
John W. White
The Texas Rangers and the City of Arlington have made a very, very bad financial decision to build another baseball park. This will prove to a major financial debacle for the Texas Rangers and especially for the City of Arlington, TX! The City of Arlington should be spending their money on a lot more productive projects. They should be spending their money on things that benefit the general public not just the fraudulently elite U.S. upper class. This project will prove to be a major financial debacle!
The U.S. Government is perpetrating a fiscal and financial fraud that is appearing to make this new baseball field financially feasible. This U.S. Government fraud has fraudulently borrowed $107.6 Trillion from the future Americans to enrich current Americans so they can afford to spend a lot of money being entertained by professional sports. This fraud has made it appear to be possible for professional athletes to get paid $Millions and appear to make many of these professional sports franchises worth $Billions.
The U.S. Government has fraudulently borrowed $107.6 Trillion from the future Americans to enrich the U.S. upper class, to enrich professional athletes by paying them $Millions, to enrich the owners of these professional sports franchises by making their franchises appear to be worth $Billions, and to entice the cities hosting these sports franchises to build arenas for these sporting activities!
Which government, the U.S. Government or the City of Arlington Government, is most at fault for this financial debacle? Which government is the most incompetent? The U.S. Government for committing this accounting fraud or the City of Arlington Government for being fooled by this accounting fraud?
I contend that the U.S. Government is the dominant offender for perpetrating this accounting fraud!
The U.S. Government is corrupt! The U.S. Government is perpetrating a financial fraud by using Cash Accounting rather than the proper GAAP Accounting. This has created a classic Ponzi scheme (USAPonzi) that has undertaxed the U.S. upper class by $107.6 Trillion making them appear to be very, very rich! This is not a small fraud! This a massive $107.6 Trillion fraud!
The City of Arlington, TX has already made two colossal mistakes by building Globe Life Park and AT&T Stadium because of this same U.S. Government accounting fraud. They do not need to make a third such financial blunder!
The U.S. Government is committing the biggest crime ($107.6 Trillion) in the history of the planet to enrich themselves, to enrich their upper class friends, and to enrich the players and owners of professional sports teams! The U.S. Government is creating imaginary-counterfeit money, $107.6 Trillion so far, out of "thin air" so the current upper-class Americans can spend lavishly on their entertainment!
This is just what Ponzi schemes do, they tend to create an ever-increasing pool of phantom assets for the early participants while accruing an ever-increasing pool of unpayable liabilities for the late participants. The U.S. upper class and the players and owners of professional sports teams are fraudulently getting richer and richer because the U.S. Government is assuming more and more unpayable public liabilities for the future Americans.
The U.S. Government is digitally printing counterfeit money and giving it to the current Americans by using fraudulent accounting!
The U.S. Government is committing fiscal and accounting fraud to enrich themselves, to colossally enrich the U.S. upper class, and to colossally oppress the U.S. Common Man!
The U.S. Government is creating money, I call it imaginary-counterfeit money, out of "thin air" to enrich the current Americans by borrowing money from the future Americans, that the future Americans do not have, and giving it to the current Americans. As of September 22, 2017, the U.S. Government has borrowed/stolen $107.6 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the current Americans. Every day the U.S. Government fraudulently borrows another $15.1 Billion from the future Americans and gives it to the current Americans (GAAP Deficit in FY2017 = $5.51T/365 days = $15.1B per day).
The "Dallas Morning News" needs to have a serious and capable investigative reporter study and report on this problem so that they can help stop this U.S. Government fiscal and accounting fraud. But because of this U.S. Government fraud, the Texas Rangers and the City of Arlington are building an unaffordable new baseball park when they already have an outstanding and also unaffordable baseball park. This U.S. Government fraud is causing Americans to buy and build a lot of physical assets that we cannot afford!
This U.S. Government fiscal and accounting fraud is causing bubbles in essentially all asset classes!
The rich in America are not really rich, they are faux rich, because the U.S. Government is corrupt! The U.S. upper class is appearing to get rich because the U.S. Government is borrowing/stealing imaginary-counterfeit money, $107.6 Trillion so far, from the future Americans and giving it to the U.S. upper class! The professional athletes are being dramatically overpaid because the U.S. Government has given the current Americans, primarily the U.S. upper class, $107.6 Trillion of imaginary-counterfeit money of pocket change so they can pay a lot of money to go to baseball games.
The Texas Rangers and the City of Arlington, TX are going to experience a massive financial debacle because they are building a baseball field with imaginary-counterfeit money produced by a U.S. Government fiscal and accounting fraud! The Texas Rangers and the City of Arlington, TX are moving forward with a plan to build Globe Life Field with just a little dab ($1.1 Billion) of the $107.6 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!
The U.S. economy is all a hoax created by a corrupt U.S. Government!
The U.S. Government has got to start telling the financial truth!
The "Dallas Morning News" has got to start reporting the financial truth!
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Sep 22, 2017
This U.S. Government fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
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 is the biggest ($107.6 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!
John W. White