Global economy-killer? Yes, Facebook has now been added to my list of global macroeconomic triggers (deadly unpredictable Black Swans like the dot-coms in 2000, subprimes in 2008) that the denial system driving the collective brain of American investors will simply tune out, till it’s too late. Till a crash takes the economy down again.
And, yes, it may take years, or trigger in 2012. We watched the same kind of buildup to the 2008 crash for a few years in advance, as credible warnings were ignored. Yes folks, Facebook is that dangerous to our economy and to the global economy.
You think I’m kidding? Not one bit. In fact Facebook is now one of my top-12 economy-killing triggers, any one of which could ignite a firestorm.
These include: euro zone ills, overpopulation, China, climate crisis, Peak Oil, Fed’s cheap money, 2012 elections, austerity vs growth, high-frequency trading, extreme capitalism, and the Black Swan nobody ever sees coming till it hits, you know, a trigger like the 1914 assassination of an unknown archduke that ignited a world war.