Would You Celebrate Losing $300 Million?

On Sunday, Dallas celebrated the destruction of a $300 million property; $300 million of taxpayer money down the drain.

I'm talking of course about the demolition of Texas Stadium, former home to the Dallas Cowboys.

Have a look at what was once one of the most famous stadiums in America.

Last Monday Night Football Game in Texas Stadium (Cowboys vs. Eagales, 2008)

Now have a look what happened to it after it was replaced by a $1.3 billion stadium, most of which is to be paid by taxes; just another example of America's economy - socialism for the wealthy like Cowboys owner Jerry Jones.

Notice how they turned this tragic event into some glorious activity. And no one bothered to criticize this huge waste of resources. Texans aren't exactly known to be geniuses.

The way things are going, a good portion of real estate across America might share a similar fate.

UPDATE (April 14, 2010): Previously, I discussed the new stadium as smaller part of what has happened to America. You will note the picture shows a $1.1 billion price tag for the stadium, but I have heard figures as high as $1.5 billion. The variation is likely to be due to the floating interest loans used to finance this wasteful project.