tag:blogger.com,1999:blog-1826828000189814347.post8553502753282098898..comments2023-09-02T12:29:45.592-04:00Comments on Had Enough Indy ?: There's Exaggerating - Then There's Outright LyingHad Enough Indy?http://www.blogger.com/profile/09673791504434523246noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1826828000189814347.post-1543683131734563762013-09-02T18:15:51.546-04:002013-09-02T18:15:51.546-04:00It's a local debt Ponzi scheme. Because no one...It's a local debt Ponzi scheme. Because no one that the mainstream listens too has explained to the public that debt (particularly long-term debt) is theft from the future to mask fiscal malfeasance, thereby creating additional fiscal malfeasance - a debt Ponzi. The bigger problem is that are so-called leaders can keep a government Ponzi going much longer - because they continue stealing from the rest of us now and in the future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-18458577984078702602013-08-30T21:44:21.867-04:002013-08-30T21:44:21.867-04:00Good luck, Jim.Good luck, Jim.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-4980821684536718592013-08-30T20:30:54.866-04:002013-08-30T20:30:54.866-04:00Nicely written and reasoned. We have a similar di...Nicely written and reasoned. We have a similar discussion going on in Fort Wayne...Jim Sacknoreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-41326924720909245592013-08-30T17:55:10.970-04:002013-08-30T17:55:10.970-04:00Excellent idea, Jon. Only, the well connected dev...Excellent idea, Jon. Only, the well connected developers will stop donating to campaigns.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-18004791359891394882013-08-30T15:56:28.708-04:002013-08-30T15:56:28.708-04:00Let's just cut to the chase, we divide Indiana...Let's just cut to the chase, we divide Indianapolis in two parts; anything North of Washington St. is the Colt's TIF and anything South of Washington St. is the Pacer's TIF.Jonhttps://www.blogger.com/profile/09490253182039581408noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-62614260711343528482013-08-30T11:57:40.473-04:002013-08-30T11:57:40.473-04:00Great points. I've been looking over outstand...Great points. I've been looking over outstanding TIF bonds here in Indy - we seem to have fees and interest approaching half of the cost of bonds - not 'just' one fourth. Plus, we like 'collaterized interest', meaning we don't pay on the bonds for a year or two, and the amount that would otherwise be due is added to the principle. UGLY.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-55117983678979321032013-08-30T11:43:56.156-04:002013-08-30T11:43:56.156-04:00I made similar arguments against an EDIT bond whos...I made similar arguments against an EDIT bond whose intended purpose (a sports field complex) was ruled illegal due to flood plain issues. The city council decided to keep the bond, but use it for a grab-bag of deferred maintenance items. I told them they could finance those same items just out of the EDIT's cash flow; there was no need to borrow the money at 4% which meant that every dollar spent on that grab-bag of deferred maintenance carried a big (upwards of 40%) penalty for interest. That argument was ignored or not understood. When they see money, they spend it.<br /><br />Here's a two-pager I used to make my point: http://bit.ly/15lZe6r Racoonhttps://www.blogger.com/profile/18156885099187526666noreply@blogger.com