What do you think of this strategy

So this came to me the other day when I was having trouble coming up with fresh new content to one of my blog niches. This is what I have come up with to compensate for this. I head out to my local book store or any store that may have magazines on my niche or pertaining to my niche. I then thumb through the magazine really fast just to see if any article catches my eye.

After reading the article I can now place that article very similarly to the originally but in my own words just for copyright laws and plagiarism issues. After I have done this with the article I found interesting once for my blog. I then head over to eza and create another article in similar manor. Before I publish on my blog and eza I will first publish the one I am putting at eza on hub pages.

Since hubpages has issues with duplicate content from other places. So for a magezine that costed me say $5.00 I then get a return of 60-70 from adsense ads on both my hub at hubpages and on my blog. I also then just built an instant 2 backlinks not to mention that I use onlywire to social bookmark my site through twitter stubleupon and many other social bookmarking sites.

Do you see this as being a good way to come up with fresh content which will also be profitable. With my knowledge in seo I will be able to get all listed on the front page for my key word sets since I always do a test post that will never get crawled by the search engines and is only the text for the original post. Also with extensive keyword research being done. Oh and I for got about the amazon ads that could also make me money from both my blog and hubpages. What are your thoughts warriors.