Coop,

Candidly, I see a number of problems with this business plan:
1) monetized websites commonly rely on either subscriptions or ad revenue.
2) From the sounds of it, you're talking about mashing-up a blog + twitter or similar... frankly, unless you do this in some spectacular and new/original fashion, you're just wasting your time.
3) there are lots of blog sites for our types out there, starting your own is going to require a tremendous volume of time/energy/resources, and at the end of the day if you spent the same resources on writing for another -- already syndicated -- blog, you'd probably see a better return.

That said, I'm not the guy to piss on anyone's dreams. I'm just trying to be a practical sounding board.

Cheers,
Soda