Posts Tagged ‘money’

Cha-ching, Beijing

 

Monday, August 25th, 2008

 

It’s always a let-down for my family when the Olympics are over. We really get into the games here, glued to the TV every chance we get during those two weeks. Winter games, summer games, doesn’t matter; we just love our olympic athletes.

That said, I was a little stunned to see the extravagance of this year’s opening and closing ceremonies. Now before you start having a hissy fit, hear me out. I love a big party as much as the next girl. The Olympics are a very big deal for whatever country is lucky enough to host them. It’s a boon for their economy and draws international attention like nothing else does. Watching the opening ceremonies this summer, I had to wonder, just what does an elaborate production like that cost, and what’s the final tab for hosting the Olympics? So I did a little checking.

The Athens games in 2004 were budgeted for US $1.6 billion and ended up costing US $16 billion. The upcoming London games were originally budgeted at US $8 billion but already US $19 billion has been spent. And one of the worst examples is Montreal, where residents just finished paying off the games they hosted over 30 years ago. Taxpayers always end up footing a big bill for their leaders’ Olympic vanity.

Turns out this year’s extravaganza was the most expensive of all Olympic Games ever held. The Chinese government promoted the games to highlight China’s emergence on the world stage and invested heavily in new facilities and transportation systems. When the Chinese Communist regime planned the budget for the Summer Olympic Games years ago, the budget was estimated to cost US $1.6 billion. A recent tally shows that China has spent over US $55 billion. Wow.

Is it me or are there a lot of other things the world could do with 55 billion bucks? Such as… oh I don’t know… feed starving children in third-world countries who don’t even have a TV to watch the games on? Forget TV, they don’t even have running water. Or video games. Or (and this one really hurts) Internet access. Wait a minute, did I say “third-world countries”? I just described a great number of impoverished migrant families living in China today.

The $1500 Wedding

Now you have to understand you’re talking to a lady who spent $550 on her wedding. It’s been 34 years and people are still talking about how much fun that thing was. I know what you’re thinking, she’s old and that was a long time ago in cost-of-living years. Well, I also threw together a darling wedding for my only daughter to the tune of $1,500 and it wasn’t so long ago. (If you have daughters with expensive taste, you’re curious and a little scared, let me know. I’ll share the details.)

Not to get off-topic, but my point here is that you can throw one monster of a party without mortgaging the farm and auctioning off your first-born. I’ve always taken issue with spending money on fleeting things vs. lasting things. Weddings and ceremonies and parties last a day and then, poof, they’re gone. If you spend a lot of dough on these affairs, it’s down the toilet, which just doesn’t make a lot of sense to me.

Beijing’s such a big show-off. Do we really need to see a host of bejeweled, hydraulically suspended flying acrobats and enough fireworks to power New York City for a month?

At the end of the day, here’s the problem I have with it all:

Is it me?

Just my Lynnterpretation.