Month: November 2011

Now that the democratic style for voting in financial referendum in Europe has been changed to unions and blocs, it’s up to Prime Minister Papademos (Greece) to canvas his European neighbours for more emergency loans.

Blogger Nick Malkoutzis however, has discovered a strange reverse parallel in the fate of another European country thats similarly undergoing severe debt problems ; Portugal.

Just like Greece, Portugal joined the Euro currency, and soon had overestimated economies stemming from an overappreciation of Portugal’s economy.

However, Portugal has had a much easier time securing loans, by quickly promising strong austerity (cutbacks) measures, while Greece is still debating between defaulting on loans or the previously mentioned action.

One thing is for certain, the weight of two nations economic welfare and future rest in the balance of the welfare and future of the Nation that gave them their power. I’m sure the blogging world awaits the result with great anticipation. Our fingers are ready!

Greece is in a bad position, for those of you joining us late. After decades of “epic” economic mismanagement, the Balkan country finds itself in debt of a financial sum worth 160% of its annual gross domestic product. Basically putting all the money/commodity made from a years worth of Greece’s economic activity would leave Greece still swimming in debt. This number is only rising.

So how did Greece get in this position? Well after joining the European family in 1981, and sub-sequentially the Euro, Greece prospered after benefiting from the comfort of knowing they were backed by the great EU. Though the economy of Greece was never a major force in the world stage, their financial hardships are sending dramatic waves through the European nations and the world, because the major players in France and Germany have agreed to provide assistance only possible through taking money from other states.

Now faced with the choice between defaulting on their massive debts or implementing massive austerity (cost-cutting) measures, the country Greece is once again reminding the world why the Balkan peninsula is frequently connected with the “epic” and “mythological”.

In Gregory Iannacone’s Blog Post, the succinctly titled “do NOT pass go, do NOT collect $200” (alright I won’t…) chronicles the impossibility of becoming a millionaire through McDonalds.

Though the feat has been managed before, the possibility of achieving this through those ridiculous stickers are, as Iannacone mentioned, simply not worth it. However I do question the reality in which people are playing McDonalds Monopoloy literally, buying dozens upon dozens of eligible menu items just for a chance of finding the Marvins Gardens in their life.  But it is undeniable the temptation of getting a larger size just at the chance of getting free small fries or a cheeseburger.

So in conclusion, I disagree with Greg’s leaning towards a demographic of compulsive McDonalds Monopoly players, but it is undeniable the truth that McDonald’s is definitely good at the game of Monopoly.

In response to my fellow Commerce Undergraduate Brett Kelly’s  crass and clearly irresponsible blog post “Why Can’t We Corrupt Our Children Anymore?“, I opt to put the kibosh on his half-baked summary of post-modern adolescent consumerism.

First, I have to state Kelly’s obvious misrepresentation of the quoted article, blatantly misquoting and in turn misdirecting his blog readers (Mrs. Kelly and her lovely house-sitter Lula Mae Barnes) by stating kids are among the most “sharp and savvy” consumers out there. The general wrongness of this declaration can not be understated, as at best kids are relatively “sharp and savvy” compared to how good (or bad) they are at other things, such as reading or adding (2+2=4.5)

And what’s with Kelly’s dangerous rhetoric about advertisers brainwashing their kids? As a Christian and staunch Romney supporter, I believe in the ethical power of a well placed and timed attack or defense ad.

And if there’s any question about how to protect our children from the pervasive and invasive tactics of mass media advertisement, I say there are “those who ain’t and those who are knee high on a grasshopper”.

Which type ain’t you ain’t Mr. Kelly?

Marketers making kids feel bad about their bodies and encouraging them to get in shape? Totally unethical and evil.

Nowadays, the existence of huge animation studios is a normal concept. Dozens of movies are produced each year by these companies, some of them good, most of them anonymous. But in the early 1900’s, the idea of an animation studio run by just two brothers was an adventurous idea. And that is exactly what Walt Disney did.

After serving in the Red Cross during World War I, Disney looked for an outlet for his creative expression. After a short stay as an advertising cartoonist in Missouri, he was hired by Universal Studios, one of the largest film studios in North America at the time. However, upset with his role (and money) he was making, he left and formed his own company with his brother known at the time as “The Disney Brothers Cartoon Studio”.

Walt risked his safe employment at the powerful Universal Studios because he had a desire to have his own vision shown to the world. That kind of commitment to his art and his willingness to risk everything for it makes him a true entrepreneur. His creative drive didn’t stop once his studio and finance was secure. In the midst of the Great Depression, Disney Studios financed the first feature length movie produced in technicolor, costing $1.5 million dollars which was an unfathomably high number at the time for a movie.

Disney’s fearless nature has paid off in more ways than one, as The Walt Disney Company now has influence over variety of industries such as radio, theater, publishing, online news, and even music. The combined revenue of  Walt Disney studios (as of 2010) is $38 billion dollars annually.

Though the NBA Lockout is a genuine tragedy in the most over exaggerated sense of the word “tragedy” and “genuine”, what, with millionaire players battling with billionaire owners for mere percentile of league revenues, there are a few honest losers to be found in this situation.

Small businesses, local bars and restaurants rely on the forty one home games per basketball season to balance the books and support their staff and families. Without the help of an NBA basketball game to usher people inside, revenues for these humble establishments can drop as much as 20-25% for the year.

Also, arena and team employees (the ones not making six figures) are left in limbo, waiting for the go ahead from the millionaires to allow them to return to their jobs and their ability to support themselves and their loved ones.

Of course, fans and analysts might say the biggest losers in the NBA lockout are the players, who are missing their chance to get their champion rings they worked year long for (Dallas Mavericks), or emerging prospects, looking for a chance to prove themselves, and land the big payday.

I say their lottery ticket is just delayed a bit. Business will return back to normal, and their losses will be recouped in a few years, if not  months. But the average Joe, who’s livelihood depends around the running of a basketball league to entertain thousands of fans a night, might not be so lucky, might not be so easily forgiven.