Wow, there are a lot of people who don't really know what they are on about.
Saying there is no reason to protest the Olympics? I think you fail to understand the scale of these things, a giant stadium doesn't come out of nowhere, and a city has to do a lot to fit the massive influx of people in.
The way I see it, there are two sides to the Games.
The side that people like: The world comes together to watch people test their ability against others for glory. And the side people don't like (and according to this thread, don't really know about): Where cites dig far to deep into their pockets to pay for it all.
Sure, its easy not to see the 2nd part when you are watching it from half a world away in your lounge room. But these things are expensive and damaging.
Here is what my good friend (A 'Couver resident) has to say about the protesting
We're protesting about the mistreatment of people surrounding the Olympics in Vancouver and the games in general. Displacing the homeless, taxing the shit outta us, the terrible treatment of the environment and the building of a $600 million highway through native lands, cutting funds to art, the ambulance services, etc, etc, etc, the list is really endless. So many people have been hurt by this. Apparently all this happened in Sydney too and everywhere else the Olympics have been.
To add to this, author Robert Barney said "There has never been an Olympic Games that has made a profit,"
So in the end, while a city gets two weeks of glory and is the focus point of the entire world, its people are the ones who have to suffer for it.