Atlantic Yards Shortened A Bit

The Wall Street Journal reports "Value of Atlantic Yards Cut Sharply" http://online.wsj.com/news/articles/SB10001424052702304014504579250771212884920?KEYWORDS=Value+of+Atlantic+Yards  Atlantic Yards is the bipartisan eminent domain abuse scheme in Brooklyn on behalf of the Barclays Center with planned housing and office developments.   This should not surprise. The bust in the political business cycle reveals the wrong investments fostered by the monetary expansion known as inflation. Such investments in our economy marked by government intervention tend to rest on cheap money created by the Federal Reserve and more explicit corporate welfare subsidies from different levels of government.

 I described this in 2008 at the start of the Great Recession. http://groundreport.com/greedy-in-brooklyn-well-connected-developer-seeks-still-more-subsidies-for-brooklyn-arena-scheme/ as well as http://groundreport.com/atlantic-yards-eminent-domain-abuse-scheme-confronts-reality/

Unfortunately, the Stop The Pork lawsuit against New York corporate welfare did not succeed.  I was a plaintiff.

Richard Cooper