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Tuesday, May 25, 2010

As the US private sector dies, so does stadium boom

5/13/10: "One thing is certain: the bubble in stadium construction is over. Even if we weren’t in a weak economy, the fact remains that virtually every team now plays in a new venue already.
  • states with serious budget problems in which
US transitions to welfare state without enough actual production to support the larger non-productive sector. Certainly not enough to fill 30 baseball stadiums. 5/25/10, "Private pay shrinks to historic lows as gov't payouts rise," USA Today, by Dennis Cauchon:
  • "Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.

At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs —

The trend is not sustainable,(see Greece, ed) says University of Michigan economist Donald Grimes. Reason: Government-generated income is taxed at lower rates or not at all, he says. "This is really important," Grimes says."...

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