By Je’Rod Cherry
The NFL owners continued willingness to lock out players should serves as a two minute warning to all Americans, that things are going to drastically change financially in America. Think about it, why would ultra-successful business men jeopardize the health, popularity, and profitability of their enterprise if there were not a greater fear?
Recently, Standard and Poors, a credit rating agency, suggested that America may soon loose its AAA credit status. A lower credit rating translates to a loss of purchasing power for every one in America, and that includes wealthy NFL owners. If Standard and Poors lowers the US credit rating, the end result is that it will require more dollars to buy products in a global open market trade system. In essence, America will become a poorer nation.
In the global economy, US consumers compete with other countries for the right to buy goods and services from both domestic and international producers.
For the past sixty to seventy years, Americans have been the possessor of a more valuable currency. With a more valuable currency Americans have had the luxury of paying less for the right to purchase domestic and international products. It appears moving forward, Americans will have an internationally less valuable currency. This means that we will have to spend much more to acquire goods and services both at home and abroad.
Oil, groceries, clothing, and other items we Americans purchase will cost significantly more if, and when, America’s credit score is lowered and demand for products like energy, and food remain high.
The International Monetary Fund, or IMF, just projected that by 2016 the US economy will began to loose ground to China as the economic world power.
This is important because NFL owners get paid in dollars, not euros, pesos, and or yuans. Thus, if the IMF is correct, and due to our overwhelming national debt they probably are correct, nine billion dollars today that the NFL owners and players are fighting over will not have the same value or purchasing power in the future if America looses it’s top tier credit status, coupled with a shrinking economy and devalued dollar.
In my opinion the real reason owners imposed and are continuing to impose a lockout is because they realize that moving forward with a future devalued dollar is highly probable. A devalued dollar can significantly lessen a NFL owners personal level of wealth, return on investment, and may possibly jeopardize a NFL owners ability to operate a NFL team at a profit.
Consequently, the now defunct NFLPA is aware of the potential future financial woes and refuses to make a financial sacrifice and acquiesce to the NFL owners demands. The NFLPA leaders mindset is that the NFL owners financial gain equates to NFL players financial loss, and vice-versa for the owners, thus the gridlock and a continued lockout. Yes, the NFL lockout is about money, however, if our country was not loosing ground to China and our nations financial future was not in serious turmoil, we are not having this discussion.