The 2012 Summer Olympics in London starts in four days with the carefully choreographed opening ceremony. But a related spectator sport is already well underway: Dissecting the economic impact of the games.

A show we did in February looked at how big an economic boost cities really get from hosting the Superbowl, and much of the same analysis is being applied to this year's games.

Transcript

STEVE INSKEEP, HOST:

By now you may have heard the news - the NCAA, which governs college sports, has penalized Penn State University's football program for overlooking or covering up the abuse of children, the Jerry Sandusky scandal.

We're going to talk about this now with our regular sports commentator, Frank Deford, who's on the line. Hi, Frank.

FRANK DEFORD, BYLINE: Good morning, Steve.

Stocks fell sharply on Wall Street this morning as traders reacted to word that Europe's debt crisis may be deepening and that China's economy may slow, Bloomberg News says.

The Dow Jones industrial average was down more than 200 points, or a little less than 2 percent, after an hour of trading. Other indices were also off.

Birth, most people would agree, is a fairly important event. And poetry, most people would agree, tends to focus on subjects of intense emotional significance. So one would think the poetry of early parenthood would be a rich and varied category, filled with reflections on physical transformation, the emergence of life, the realities of infanthood and so forth.

One would be wrong.

Saying that the punishment is "warranted by the conspiracy of silence" among Penn State University's top leadership that turned a blind eye to former assistant football coach Jerry Sandusky's sexual abuse of young boys, the NCAA just announced sanctions on the school that include:

-- A $60 million fine. The money will go into an endowment fund to support programs around the nation that assist victims of sexual abuse, NCAA President Mark Emmert said.

President Obama and Mitt Romney this week will be courting military veterans and raising more money. Romney also will be taking his campaign overseas.

Both speak at the annual convention of the Veterans of Foreign Wars in Reno, Nev. Obama will address the group today. Romney speaks to the group tomorrow, before heading to London for opening ceremonies of the Summer Olympics.

Ten years ago, Romney ran the Winter Olympics in Salt Lake City, Utah.

Good morning.

The nature of the news today has made the subjects of our early posts unfortunately grim:

-- Dozens Dead After Iraq's Bloodiest Day This Year.

-- 13 Reported Dead, 10 Injured After Pickup Crashes In Texas.