It's estimated that London and the U.K. at various levels of government have spent upwards of $14B dollars to put on the 2012 Olympic games. This, and not shockingly so, was twice the original estimate, twice the original budget allotted. Hard to believe they are in a recession.

David Cameron has said he is confident that they can recoup costs through the perceived added economic injection. $14B is a lot of money to "find" in 2 weeks, but of course they don't expect that. The financial benefits they feel will be experienced over the next 5 years. Naturally they would say that. All Olympic cities and nations say that. Apparently when it comes to our obsession with "games" you CAN fool all of the people all of the time.

THE GIFT OF DEBT

The Olympics are nothing more than the gift of debt. The International Olympic Committee (IOC) is nothing more than the aggressive owner of a brand. They have marketed and sold their Olympic brand and their 5 rings for exhorbitant fees and lined their pockets. They contribute almost nothing else.

Further, they encourage the mowing down of the poor and the displacement of the underprivileged so that governments can build huge monuments to themselves. These are called venues, which city by Olympic city, sit largely unused quickly taking on white elephant status.

It just seems like a lot of time, effort and money to throw a party for ourselves when for the life of me I don't know what we have to celebrate. It can be a pleasant distraction but not when you consider the tremendous amount of financial hardships that will be incurred down the road...AND, how much good could have been done with that money and dedication to spending it. We get angry when welfare recepients use their cheques to get drunk. Is this that much different?

I was taught as a youngster that I could only go out and play once I finished my homework. I tend to live by the principle as much as possible. Governments apparently not as much. We (the human race) just spent 7 years and $14B (not to mention countless other billions on media and sponsorships) to play, when in fact there is work to be done.

Every 2 years the Olympics are a considerable embarrassment to me as a human being. Let the shames begin. LEAVE COMMENTS.

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