Downside of U.S. hosting a World Cup
By all accounts, U.S. Soccer put on an impressive display for FIFA's World Cup bid site inspectors last week. In addition to showing off new stadiums in New York and Dallas, the U.S. bid group trotted out Michael Bloomberg, Emilio Estefan, Jerry Jones and Yao Ming to welcome the inspectors, who are visiting potential hosts for the 2018 and 2022 tournaments.
But not everyone is impressed. At the same time U.S. Soccer President Sunil Gulati was rolling out the red carpet, a fellow economist, Dennis Coates, rolled out a scathing op-ed in the Los Angeles Times, calling any predictions of a huge economic boost from the tournament "too good to be true."