Author: Serkadis

With the constant hitting and the occasional Travis Barker rage that player usually give their Rock Band drum sets, those things can break pretty quickly. Need a replacement? Blast has spotted a Wal-Mart with the peripherals at

Kyle sent over yet another musician, named Nathan Harden, pulling out the “woe is me” schtick in an article claiming that this generation “killed rock ‘n’ roll.” It hits on all the usual debunked points and only quotes industry sources on the major label side of the business, assumes that the only way to make money in the music business is by selling albums or songs, and doesn’t even realize what a huge contradiction it makes in the process. It starts out by quoting record sales stats, but ignoring all of the recent studies that show that money hasn’t gone away, it’s just shifted to other channels — and those channels are ones where the actual artists get more money. It’s true that the major record labels are making less — no one denies that. But it’s folly to claim that this means the death of rock ‘n’ roll or music at all. Another recent study showed more music being released today than ever before in history. That doesn’t sound like a dying industry at all. In fact, this guy effectively admits that when he complains:

On my own MySpace page, I can upload my own band’s music to the web in a matter of minutes, and sell it to anyone in the world with an internet connection. Theoretically, it has never been easier to be heard. Yet hundreds of thousands of other musicians are competing for attention online.

But wait… just before that you were claiming that rock ‘n’ roll was dead. And yet here you are admitting that there are so many other musicians putting up their music as well? The two things do not compute.

As far as I can tell, Harden’s real complaint isn’t that rock ‘n’ roll is dying, but that a major label won’t just turn him into a rockstar. Instead, he might have to actually do some work to build up a fan base, and that’s icky:

Without support from a record label, musicians must master the intricacies of search engine optimization, social networking, email blasts, and twittering — not to mention traditional tasks like booking shows. Not surprisingly, many musicians lack such skills.

This has been discussed at length, with musicians who do that stuff pointing out that it’s not that much work at all, and if it’s really a problem, you work with someone (the “5th Beatle”) who does it for you.

Can you, even for a moment, imagine Janis Joplin pouring over HTML manuals, or Jimi Hendrix spending hours each day spamming potential fans on MySpace? Not likely. Had those two tried to make it in today’s marketplace, we may never have even heard of them.

Can you, even for a moment, imagine Jonathan Coulton going the major label route or Matthew Ebel getting a six figure advance from a major label? Not likely. Had those two tried to make it in yesterday’s marketplace, we may never have even heard of them.

The fact that more musicians are making music today and being able to release it and make a living from it than ever before suggests that things are actually looking much better, and we’re far from “the death of rock ‘n’ roll,” but reaching an incredible age of creativity, where people who had no chance at all before are now able to make music and make a living.

And furthermore, it’s ridiculous to suggest that artists like Hendrix and Joplin didn’t work hard to build their fanbase with what tools were available at the time.

In other words, it may not hurt Beyonce or AC/DC if you download their music. They are, after all, astonishingly wealthy. But it does hurt the record labels, which, in turn, cannot afford to sign, develop and promote as many new artists. Consequently, our music is becoming less diverse. In the long run, music lovers themselves are deprived.

I’m not sure what music Harden’s been listening to lately, but I’ve actually found music to be a lot more diverse these days, because it’s possible for bands to experiment and try different styles, and reach a worldwide audience. I’ve been listening to a reggae band from Spain the past few days. A few years ago, I never would have known they existed.

Sorry, Nathan Harden, but you’ve been sold the myth that only record labels make the music industry and that only through selling records does the music industry work. That’s simply not true. Yes, the record labels are having trouble, but rock ‘n’ roll isn’t dying. It’s thriving by adapting to this new market.

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Greece is in the 11th hour of bailout negotiations and the world awaits the verdict to see if it will collapse.

Below is the official EU press release that discusses Greece. We’d sum it up, but actually there’s nothing to sum up. It’s a vague, half-page document that doesn’t tell us anything. In other words, there’s no deal yet.

26720511-Statement-by-the-Heads-of-State-or-Government-of-the-European-Union –

Watch: Everything You Need To Know About The Greece Bailout >

Join the conversation about this story »

See Also:

• European Economic Ripple Hits South Korea As Germans Push Delay Of Massive Ship Orders
• Striking Greek Unions Send A Message: Screw You Europe, Where’s Our Bailout?
• Greek Unions Strike To Stop Spending Cuts Aimed At Ending Debt Crisis

Filed under: Performance, Europe, Hatchback, Saab, Spyker, Rumormill, Luxury

Hopefully, and while Spyker’s at it they’ll bring back the 900 name. Don’t count on that last bit, but according to a report by the Dutch site Auto Internationaal, Saab will be bringing back a five-door (as in hatchback) 9-3. To even the most casual Saab fan, this makes a ton of sense. In fact, Saab’s decision (even though it was really General Motors’ decision) to end production of the 9-3 hatch in favor of the 9-3 sedan is still both baffling and painful, all these many years later.

The thing is, Saab has always been, and will probably always remain a niche brand. The notion that by dropping the odd five-door (and three-door) body style in favor of a more conventional sedan body, stay a high-dollar front-dollar and poach sales away from BMW is as laughable now as it was back in 2002 when Saab/GM made the switch. Bringing back a five-door is most likely the brand’s best shot at salvation.

Besides, five-door, luxury/performance niche vehicles seem to be all the rage. Look no further than the BMW 5 Series Gran Turismo and upcoming Audi A5 Sportback. Let’s not forget about the Caddy CTS Sportwagon, either. Not only that, you have a lot of people getting older and richer who spent their formative years in Subaru WRXs, Volkswagen GTIs and MazdaSpeed3s now looking for something a little more grown up and sophisticated. We really can’t see any downside to hatch’d 9-3. Now if Saab would only bring back the longitudinal, backwards engine… though probably not, as the next 9-3 will likely be Opel Astra-based.

[Source: Euro Car Blog via Auto Internationnal]

Rumormill: Next-gen Saab 9-3 to see return of five-door bodystyle? originally appeared on Autoblog on Thu, 11 Feb 2010 10:29:00 EST. Please see our terms for use of feeds.

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What is it about Acura’s that makes them better than the competition? Can’t think of anything? Well, according to Acura, that’s because they’ve failed to effectively present their products to the customers (not because there is actually something “third-tier luxury” about the brand).

According to the Acura’s vice president of advertising and public relations Steven Center, American Honda Motor Co. will boost the marketing budget for Acura by 50 percent in 2010, as compared to a year ago.

“Our messaging for years has been too ill-focused and not about the product,” Center said. “The ads weren’t making the point and the point is: What is it about Acura that makes it better?”

Center said that Acura’s advertising will focus more on the brand’s patented body structure, high residual values and a surround-sound audio system. The ongoing launch of the Acura ZDX and the upcoming TSX wagon will be the focus in 2010.

– By: Kap Shah

Source: Automotive News (Subscription Required)

The internet has clearly changed things and old revenue models simply don’t work anymore for many businesses, especially in the content industries. This hasn’t sunk in for most of them but, while the old guard are desperately trying to maintain the status quo, there are others who are trying to find a way for artists to make a… (read more)

All aspects of Japanese life, especially business relations, are governed by strict rules of etiquette. When Toyota’s CEO Akio Toyoda apologized after the company’s surge of massive recalls, he bowed to the public during the conference in humiliation.

Apparently, Japanese media criticized Toyoda, saying his bow wasn’t low enough. Of course that may be surprising to some us here on the stateside since we would have never expected GM’s former CEO Rick Wagoner, or Chrysler’s former head Bob Nardelli, to bow in front of the U.S. Treasury Department when asking for a loan.

Either way, hoping not to be on the front page of every newspaper again, and following Japanese laws of honor and harmony, Toyota today declined to accept a Japanese government energy efficiency award given to the Toyota Prius.

“We declined to accept the award, because we thought it is not appropriate,” said Toyota spokesman Paul Nolasco, citing the recall of the brakes in the model.

– By: Omar Rana

Source: Free Press

CHICAGO — The American Red Cross says residents should be aware of earthquake safety measures after a 3.8-magnitude earthquake hit northern Illinois this week.

The Red Cross says families should have a plan in case of an earthquake and suggests practicing ”drop, cover and hold on.”

That means dropping under a sturdy desk or table, covering and protecting your eyes by pressing your face against your arm, and holding on.

It also advises staying indoors until any shaking stops and staying away from windows.

If you’re outdoors, the Red Cross says you should find a clear place away from buildings, trees and power lines and drop to the ground.

And if you’re in a car, you should slow down, drive to a clear place and stay in the car until the shaking stops.

Read the original article from Herald & Review.

Distributed via Chicago Press Release Services

Whether or not a Greece bailout is good or bad for fixed income in the long run, one thing is for sure:

High-grade debt issuance this week collapsed 90% from normal levels.

It’s not so much that companies don’t want capital, it’s that they’re unsure if any demand is even out there:

Bloomberg:

Borrowers in the U.S. and Europe sold $4.71 billion of high-grade securities this week, the least this year and about 90 percent less than the average $52.9 billion, according to data compiled by Bloomberg. Speculative-grade, or junk, bonds in the U.S. have lost 0.09 percent in 2009 after gaining 1.52 percent in January, Bank of America Merrill Lynch index data show.

“Sentiment has turned significantly amid concerns about sovereign deficits and problems surrounding Greece and other peripheral euro-zone economies,” Simon Ballard, a senior credit strategist at RBC Capital Markets in London said yesterday. “For the moment, we’re unlikely to see much in the way of primary market activity as investor sentiment remains fragile and the broad market feeling is one of nervousness.”

Read more here >

Join the conversation about this story »

See Also:

• The Greece Powder Keg Explodes
• Watch Hedge Funder Hugh Hendry Fight WIth Joe Stiglitz And Say He Wants Greece To Collapse
• Here’s The REAL Reason Germany Is So Hesitant About Bailing Out Greece

CARBONDALE, Ill. — Southern Illinois University is weighing whether wind can help power its flagship Carbondale campus.

The university’s board of trustees was to vote Thursday on whether to develop plans and gather cost estimates on construction of a wind turbine on campus.

The debate comes at a time when university administrators say annual electricity costs for the campus have risen nearly $3 million the past five years.

A final proposal on the wind turbine project will be presented to the board for approval later.

Read the original article from WBBM News Radio.

Distributed via Chicago Press Release Services

Not even news of a Greek bailout is helping right now.

The Dow is currently down 13 points to 10,025. The NASDAQ is down 7 points to 2141 and the S&P 500 is down 3 points to 1065.

Oil is flat, up a mere three cents to $74.55 a barrel.

Gold is up slightly to $1079 an ounce, while silver is down $0.10 to $15.21 an ounce.

Commodity futures are mixed; equities are down while grains and some soft goods are up.

Join the conversation about this story »

See Also:

• Markets A Snooze After Last Week’s Violence
• Market Opens Weak: Dow Down 55 Points, Commodities Up
• Jobs Data Saves The Day As Stocks Start Mixed

Filed under: Chicago Auto Show, Detroit Auto Show, Hybrid, Recalls, Safety, Hatchback, Toyota

By February of each year, we are always right in the middle of awards season, and no, we’re not talking about the Golden Globes, Grammys or Oscars. We are, of course, referring to Car and Truck of the Year awards, Ten Best lists and the like. A brace of trophies had already been handed out at the Detroit Auto Show and here at the Chicago Auto Show, a few more champions were crowned. As you might imagine, Toyota is usually an oft-mentioned brand during this time of year, but we figured this year might be a little different.

Coming on the heels of several high profile recall announcements by Toyota, one might expect the once-bulletproof Japanese carmaker to at least get more careful consideration when handing out the hardware. Well, even if they have gone through closer scrutiny, that hasn’t stopped multiple outlets from still rewarding them for their products. Television show MotorWeek just announced their Drivers’ Choice Award winners, and the Toyota Prius is their choice for best Eco-Friendly vehicle. It also claimed the title of Best of the Year overall, making it their top pick of the 2010 models.

Other category winners are listed below and there’s a long press release after the jump that includes a statement by MotorWeek host and producer John Davis. While it was probably difficult to change their minds so late in the game, the statement by Davis explaining their rationale in choosing the Prius seems to have been written some time before Toyota started making so many headlines: “If you can only buy one car for your family, the 2010 Prius is the one,” said Davis. “The Prius is a no-compromise vehicle that offers impressive efficiency, cutting edge technology, smart packaging and truly iconic styling.”

While all of that might still apply, it’s bad timing if nothing else to be handing out a top award to the Prius. In that spirit, Davis added an additional statement to clarify and defend the show’s selection. In it he explained that while MotorWeek had two different Prius hybrids in their care for several months, nothing ever went wrong with them and that the show is confident that the problems will be satisfactorily addressed by Toyota.

MotorWeek was certainly not alone on that front however, as Toyota has recently been lauded by several other organizations as well. In Japan, for instance, Toyota was honored with a government energy efficiency award. Interestingly, the company chose to decline that award, though, saying that “the honor is not appropriate for a car hit by massive recalls,” according to MSNBC.

Without further ado, here are the MotorWeek Drivers’ Choice Award winners:

• Best Small Car: Mazda3
• Best Family Sedan: Ford Taurus
  
• Best Luxury Sedan: Buick LaCrosse
  
• Best Small Utility: Chevrolet Equinox
• Best Large Utility: Honda Pilot
• Best Pickup Truck: Ram 1500/2500/3500
  
• Best Eco-Friendly: Toyota Prius
• Best Sport Sedan: BMW 3-Series
• Best Sport Coupe: Chevrolet Camaro
• Best Performance Car: Audi S4
• Best Convertible: Nissan 370Z Roadster
• Best Dream Machine: Audi R8 5.2 FSI/Mercedes-Benz SLS AMG

[Sources: Motorweek via EarthTimes, MSNBC]

Continue reading Chicago 2010: Bad Timing Dept. – Prius MotorWeek Drivers’ Choice winner; Toyota declines JDM award

Chicago 2010: Bad Timing Dept. – Prius MotorWeek Drivers’ Choice winner; Toyota declines JDM award originally appeared on Autoblog on Thu, 11 Feb 2010 10:01:00 EST. Please see our terms for use of feeds.

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Charlie Wilson, a 12 term Congressman (D) from Texas and former United States naval officer, passed away yesterday at 76.

I bought the movie ‘Charlie Wilson’s War’ when my local Blockbuster was going out of business, but haven’t gotten around to watching it yet… Though I know the general gist of what Representative Wilson was known for.

From Wiki:
“…He was best known for leading Congress into supporting Operation Cyclone, the largest-ever CIA covert operation, which supplied military equipment, including anti-aircraft weapons such as Stinger antiaircraft missiles, and paramilitary officers from their Special Activities Division to the Afghan Mujahideen during the Soviet war in Afghanistan. His behind-the-scenes campaign was the subject of the non-fiction book Charlie Wilson’s War and a subsequent film adaptation…” (source)

Hollywood liked him enough to make a film and some libs on FB were lamenting his passing yesterday, but for the life of me I can’t figure out what he did differently than Ollie North with the Contras. Funding a resistance group with government funds and Wilson is heralded and North demonized? Am I missing some major component of the story?

Summary of the Course:

Ever since the end of the Cold War, taking place in the context of, and further propelling forward, the so-called >Third Wave= of democratization throughout the world, many Americans have been celebrating the global victory of democracy and capitalism. Some have even gone to war allegedly to preserve and promote this ‘victory’. At the same time, numerous democracies throughout the world are wrestling with problems of “civic disengagement” and growing disillusionment with ‘elitist democracy’ (i.e. inequality and elite domination) or ‘big government’ (i.e. bureaucracy and state tyranny). What does all of this mean for the future of democracy? Can anything be done to return democracy ‘to the people’? Should anything be done at all? Looking at a real-world case of democratic representation and public administration – the City of DeLand, FL – what can we learn about civic disengagement, elitist democracy, big government and current efforts or future prescriptions to address these?

Course Requirements:

Grades will be based on performance in the following:

• Attendance and class participation, excluding oral presentations: 15%
• Eight Reading/Minipaper Assignments and Presentations: 15%
• Midterm exam of essays and short answer/identifications: 20%
• Outline for final paper (due date TBA): 5%
• Final literature review/research paper (due on last day of class): 25%
• Final exam of essays and short answer/identifications: 20%
• Dr. Nylen stands by Stetson’s official statement on grades, which says:

Grades represent the instructor’s final estimate of the student’s performance in a course. The grade of A (+ or -) may be interpreted to mean that the instructor recognizes exceptional capacity and exceptional performance. The grade of B (+ or -) signifies that the student has gained a significantly more effective command of material than is generally expected in the course. The grade or C or C+ is the instructor’s certification that the student has demonstrated the required mastery of the material. A student is graded C- or D (+ or -) when his/her grasp of the course essentials is minimal. [Stetson University Bulletin, 2006-7, P.31]

• Any form of cheating, including and especially plagiarism, will result in an automatic F grade for the entire course. To plagiarize is “To take and pass off as one’s own (the ideas, writings, etc. of another).” [Webster’s New World Dictionary of the American Language (1962)]
• Requests for make-up exams or late papers must be preceded by a really, really, really good excuse, or by written medical evidence.
• Significant improvement through the semester can result in an upgrade of half a letter grade.

Required Books:

• David Held. Models of Democracy, 2nd Ed. (Stanford: Stanford Univ. Press, 1996).
• William R. Nylen. Participatory Democracy versus Elitist Democracy: Lessons from Brazil (New York: Palgrave, 2003)
• Archon Fung. Empowered Participation: Reinventing Urban Democracy (Princeton: Princeton Univeristy Press, 2004).

* Some required readings will be available online (Blackboard) as indicated. These are just as important to the course as those required for purchase. Others are only recommended, especially for those with a keen interest in the subject matter.

Internet Resources (only a small sample):

1. Sustainable Communities Network, http://www.sustainable.org/creating/civic.html
2. Policyoptions.org, http://www.policyoptions.org/index.html
3. Kettering Foundation, http://www.kettering.org/index.aspx

I. Democracy and Political Participation – definitions, intellectual history, critiques, debates
A. Introduction (Tues., Jan. 15)
– Reading: David Held. Models of Democracy, “Preface to the Third Edition” and “Introduction”
B. Republicanism (Thurs., Jan. 17: A)
– Reading: Held, “Republicanism: Liberty, Self-Government and the Active Citizen” (Ch.2)
C. Liberalism (Tues., Jan. 22: B)
– Reading: Held, “The Development of Liberal Democracy: For and Against the State” (Ch.3)
D. The Marxist critique and alternative (Thurs., Jan. 24: A)
– Reading: Held, “Direct Democracy and the End of Politics” (Ch.4)
E. Competitive Elitism (Tues., Jan 29: B)
– Reading: Held, “Competitive Elitism and the Technocratic Vision” (Ch.5)
F. Pluralism (Thurs., Jan 31: A)
– Reading: Held, “Pluralism, Corporate Capitalism and the State” (Ch.6)
G. Contemporary Crisis Theories & Neoliberalism (Tues., Feb. 5: B)
– Reading: Held, “From Postwar Stability to Political Crisis …” (Ch.7)
– Recommended: Lawrence Reed. “Why Limit Government?” in Heritage Lectures, No. 843 (June 21, 2004): 1-4. [Blackboard]
H. Democracy and the demise of ‘real existing socialism’ (Thurs., Feb. 7: A)
– Reading: Held, “Democracy after Soviet Communism” (Ch.8); AND
Nylen, “Preface and Acknowledgements” and “Elitist Democracy, Civic Disengagement and Citizen Politics in the United States” (Ch.1)

I. Participatory/Deliberative Democracy (Tues., Feb. 12: B)
– Reading: Held, “Deliberative Democracy and the Defence of the Public Realm” (Ch.9); AND Nylen, “Participatory Democracy in Theory” (Ch.3)
– Recommended: John Guidry & Mark Sawyer. “Contentious Pluralism: The Public Sphere and Democracy” in Perspectives on Politics (2003), 1: 273-289. [Blackboard]
J. Conclusion: Democratic Autonomy — the democratic ideal and standard of measurement (Thurs., Feb. 14: NO MINIPAPERS DUE)
– Reading: Held, “Democratic Autonomy” (Ch.10)
– Study Guide Discussed/Distributed

II. MIDTERM EXAM (Tues., Feb. 19)

III. CLASS DISCUSSION: Where do we go from here? Research Strategies, Responsibilities and Division of Labor (Thurs., Feb. 21)

IV. CASE STUDY & Relevant Theoretical/Comparative Literature: City of DeLand & local-level democratic participation
A. City of DeLand: Historical Background
– DeLand – The Movie: “DeLand: Past, Present and Future” (Tues., Feb. 26: no minipapers)
– Visitor: Dr. John Schorr, Sociology
B. City of DeLand: Institutional Setting & Background (Thurs., Feb. 28)
– Visit DeLand City Hall (New York Ave. & South Clara Ave.)
– Meet with City Manager, Mike Abels, and Assistant City Manager, Michael Pleus

MARCH 3-7: SPRING BREAK

C. Applied Democratic Theory/Practice, pt.1: Participatory Budgeting in Brazil (Tues., Mar. 11: A)
– Reading: Nylen, “Participatory Democracy in Practice – Brazil’s Workers’ Party and The Participatory Budget” (Ch.4); and “The Orçamento Participativo in Betim, Minas Gerais” (Ch.5)
D. An Interview with the Mayor (Thurs., Mar. 13)
– Visit DeLand City Hall
– Meeting/interview with Mayor, Robert Apgar
E. Applied Democratic Theory/Practice, pt.2: Participatory Budgeting in Brazil (Tues., Mar. 18: B)
– Reading: Nylen, “Administering the Participatory Budget—Ideology and Dedication” (Ch.8); and “Participatory Democracy versus Elitist Democracy—Lessons from Brazil” (Conclusion)
– Recommended: Nylen, “Examining the Claims of Proponents of the Participatory Budget” (Ch.6); and “Examining Claims of Critics of the Participatory Budget” (Ch.7)
F. An Interview with Members of Advisory Committees (e.g. Tree Advisory, Senior Council, Airport Noise Advisory, Planning Board, Economic Development, DeLand Housing, Historic Preservation, Citizens Advisory Task Force, etc.: http://www.deland.org/cityhall/clerk-boardmembers.htm (Thurs., Mar. 20)
– Interviewees T.B.A.
G. Applied Democratic Theory/Practice, pt.3: Empowered Participation and the Ecology of Civic Engagement (Tues., Mar. 25: A&B)
– Reading: Fung, “Democracy as a Reform Strategy” (Ch.1); and Marion Orr, “Community Organizing and the Changing Ecology of Civic Engagement” in M.Orr [ed.] Transforming the City: Community Organizing and the Challenge of Political Change (Lawrence: University of Kansas Press, 2007): 1-27 [Blackboard or mimeo]
– DUE: Final Paper Outline
H. Community-Based Research (Thurs., Mar. 27)
– T.B.A.
I. Applied Democratic Theory/Practice, pt.4: (Tues., April 1: A)
– Reading: Fung, “Down to the Neighborhoods” (Ch.2); and “Building Capacity and Accountability” (Ch.3)
J. Community-Based Research (Thurs., April 3)
– T.B.A.
K. Applied Democratic Theory/Practice, pt.5: Empowered Engagement (Tues., April 8: B)
– Reading: Fung, “Challenges to Participation” (Ch.4); and “Deliberation and Poverty” (Ch.5)
L. Community-Based Research (Thurs., April 10)
– T.B.A.
M. Applied Democratic Theory/Practice, pt.6: Empowered Engagement (Tues., April 15: A&B)
– Reading: Fung, “Deliberation in Social Conflict” (Ch.6); and “The Chicago Experience and Beyond” (Ch.7)

V. Class Discussions of Research and Research Findings (Thurs., April 17, Tues., April 22 & Thurs., April 24)

VI. Final Exam Preparation Day (Tues., April 29)
– Final Paper Due (electronic version in dropbox)

VII. FINAL EXAM (Wed., May 7, 9-11am)

CHICAGO — Ousted Gov. Rod Blagojevich’s brother Robert is headed for federal court to answer fresh charges he schemed to sell or trade the U.S. Senate seat from Illinois left vacant by President Obama’s election.

The former governor himself pleaded not guilty Wednesday in a brief hearing before U.S. District Judge James Zagel to the revised federal indictment.

Now his brother, a Tennessee-based businessman and former Army officer, is due to follow suit.

The revised indictment doesn’t include any allegations of misconduct that weren’t in the earlier version. But it adds eight charges based on the same misconduct a grand jury cited in the previous indictment.

Read the original article from WBBM News Radio.

Distributed via Chicago Press Release Services

Do not shed a tear for the allegedly suffering Germans who now face the prospects of footing much of the bill for the bailout of the Greek government’s debts. Germany has taken advantage of the EU system for years to live far beyond its means, just like Greece, Spain, and Portugal have.

At first, it can be hard to see the Greek and German fiscal imprudence as mirror images of each other. The Greek people and the Greek government accumulated too much debt, importing and borrowing too much. Meanwhile, the Germans seem like prudent savers who profited by exporting awesome German made goods all over the world, especially to the spendthrift European countries.

Look below the surface, however, and you’ll see that the higher German savings rate was parasitical on the higher spending rates of its profligate neighbors. There’s simply no way the German’s would have enjoyed the same level of prosperity and quality of life over the past two decades if their fellow Europeans were as fiscally prudent as they were. They needed their neighbors to spend because they were refusing to.

To put it differently, the fall of European trade barriers allowed the Germans to enjoy the best of both worlds: huge savings rates coupled with income from huge spending rates by others. Germany’s economic boom has been financed by the borrowing of the debtor nations.

Let me put it this way. Germany blaming its fellow EU members for “living beyond their means” is like Countrywide blaming borrowers for buying houses that were too expensive. First, it couldn’t have happened without Germany enabling it. Second, German’s did pretty well by the system until it broke down. It’s a bit much for them to suddenly start pointing fingers.

Watch: Everything You Need To Know About The Greece Bailout >

Join the conversation about this story »

See Also:

• Somehow, Everyone Now Blames Germany For Their Debt Disasters
• Here’s The REAL Reason Germany Is So Hesitant About Bailing Out Greece
• If You’re Outside Of Europe, Cheer For A Greece Bailout That Creams France And Germany

The enormous European and American debt problems we fret about today are just an early signal of what’s inevitable — the end of Western dominance.

While we may assume such an event will happen in the distant future, a recent report from Citi Investment Research actually shows how this giant shift is already upon us today.

The bottom line: By 2015, America will lose its place as the GDP king to Emerging Asia.

So, brace yourself, because complaining is futile. These mega trends aren’t the kind that anyone can change any time soon, if ever:

10 Mega Themes Signaling An End To Western Dominance >

Charts and excerpts sourced via Citi Investment Research, Ten Asia Themes For The New Decade, Johanna Chua, 2 February 2010.

Join the conversation about this story »

Filed under: Videos, Crossover, Chevrolet, GM

From our vantage point the 2010 Chevrolet Equinox is a monumental upgrade from the Bowtie brand’s first generation midsize crossover. General Motors seems to be pretty proud of its work as well, as the automaker has poured cash into advertising its first post-bankruptcy success story.

One such marketing exercise involving the Equinox is captured in the General’s inaugural Department 180 video. The videos seek to showcase the improved quality of Chevy-branded vehicles, with the engineers co-starring in the spots along with the cars and trucks. The Equinox gets the first turn at bat in the new series, with employees showing how they tested the crossover to ensure that it had a quiet cabin.

The first test involves filling the cabin with a thick cloud of smoke, then checking every crevice of the vehicle to ensure nothing seeps out. The second, unofficial test is slightly less scientific and you can check out both in the video after the jump.

Continue reading Video: GM smokes out Chevy Equinox; figures out how many ping pong balls fit inside

Video: GM smokes out Chevy Equinox; figures out how many ping pong balls fit inside originally appeared on Autoblog on Thu, 11 Feb 2010 09:27:00 EST. Please see our terms for use of feeds.

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