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by criley2 4082 days ago
I mean, realistically you don't have to charge fans a cent. Kraft bought the Patriots a stadium in Foxborough at his personal expense: zero cost to taxpayers or subsidization from fans outside of the business he operates.

My point wasn't to find an alternative to taxpayer stadium financing as those alternatives exist today, my point was to say: If a government wants to take out a $800M loan, how do we make that happen. If an entity has a need: how do we meet that need. Merely saying "your need is invalid" is not a solution in any sense.

By trying to invalidate my use-case of an $800M loan, you side-step the actual problem: Providing a 20 year $800M loan. That's a real need in today's world. Providing a billion USD that you don't get back for multiple decades. That's a real world need that will have to be met by your future-tech. Not evaded, not made irrelevant, not ignored: but solved. How do you crowdsource finance in a way that you can take someone's money for 20 years? Because we know how traditional banks can achieve giving away billions for decades, but not how an crowdsourced futuretech solution would approach it.
2 comments
nemild 4082 days ago
Doesn't a liquid securities market imply that a lender in a 20 year loan can always sell their loan to others if they want? So there's no need to require them to provide a 20 year lockup, assuming a secondary market exists.
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jsprogrammer 4082 days ago
If the government (by US theory, this is: "the people") wants to take out a $800M loan, then, by definition, it will have no problem 'crowd-funding' it.
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criley2 4081 days ago
>If the government (by US theory, this is: "the people")

You're talking about the Federal Government, which yes can monetize debt through the Treasury and Federal Reserve by act of Congress.

However, I'm talking about State and Local governments which are unable to run deficits and unable to create treasuries to sell to the Reserve for new cash.

For all American governments EXCEPT for the Federal level, they must, like any large corporation or entity, find a lender and pay interest.

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