Jeremy Kwan's Blog

As an avid follower and fan of the NBA, the lockout has caused much disappointment for not only myself, but for basketball lovers everywhere. I was extremely frustrated when I discovered why it was going on in the first place.

The main issue for the lockout is simply the distribution of income between players and owners. Players and owners make millions of dollars a year and are currently arguing over a ridiculously minute percentage of that money. The insignificance of the money being argued over is currently overshadowing the significance the lockout has on the American economy. Smaller market cities like San Antonio could lose up to $100 million that their local team generates for their economy. Also, some athletes have even resorted to working in local stores while many employees at sports bars and NBA arenas currently unemployed.

I understand that professional basketball generates a great deal of revenue ($4.3 billion in 2010), but it seems like the league values the financial aspect more than the enjoyment aspect of the game. It baffles me how the NBA is willing to sacrifice an entire season filled with profit and admiration for such small percentages of money.

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The $217 billion dollar and most widely used search engine on the planet is being sued by the Author’s Guild for scanning their books and providing 15 million of them online to anybody with internet access.  The Author’s Guild and its counterparts claim that Google and multiple other universities in the United States are infringing their rights.   Google Books has caused controversy upon first being created and the conflict between the two sides is yet to be resolved.  The groups have until July 2012 to create an agreement that satisfies the court.

Personally I feel that Google is misusing their power and does not have the right to scan the works of others without permission.  It is perfectly reasonable if the publishers or owners are no longer living, but those that are still alive should be given the right to be informed about the use of their material.  Google made a an irrational argument saying that the authors can pick out which publications should be taken out.  This is like saying I have the right to go into someone’s room, steal one thing, and wait for them to ask for it back– complete nonsense.

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During the past few years, the 401(k) system for retired American employees has suffered through recent criticisms– and justifiably so. The tax deferred 401(k) plan has unfortunately become the go-to retirement piggy bank in the United States. From the end of 2007- to the beginning of 2009, the average 401(k) balance fell 31%, which greatly hurt those who retired during the recession. Americans of ages 60-62 with a 401(k) account have less than one-quarter of what is needed to maintain its standard living during retirement.

If future generations continue putting their money in the 401(k), I feel that they will be made aware of the severe consequences this financial trap has the potential of creating. It is simply unpredictable how the economy will react but the uncertainty concerning this retirement system should spark the attention of many upcoming American retirees to reconsider where they place their money in the future. I feel that this is just another detrimental issue in America’s suffering economy. Only by retiring the flawed American retirement system will the majority of American citizens be able to enjoy their retired lives.

Original Article

As the suffering economy of the European Union and The United States is becoming more apparent each day, Canada is slowly starting to realize that strengthening ties with China will play a prominent role in Canada’s economic well-being. It is because of a recently improved trade with China over the past couple years that has hindered Canada from the financial scars that the Americans and Europeans faced during the overwhelming recession. During this recession period, exports to China were constantly rising while those to other nations were noticeably declining. The writer interestingly notes that “Canada needs China far more than the reverse.”

Continually focusing on establishing a stronger relationship with the Chinese will greatly benefit Canada. Being able to trade with China gives Canada another viable option in exporting and importing goods and allows them to shy away from potential threats that the waning markets of Europe and The U.S.A present. Canada can take advantage of the growing population and efficient economy in China and in turn, greatly profit from them. China is quickly becoming a reliable trading nation trough rapid industrialization and will undoubtedly continue to play a significant role in Canada’s trading plans for years to come.

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