"We’ve got a creative-destruction economy, without the creation: the startups, the venture capital, the entrepreneurship. MySpace and LinkedIn don’t count: they are a faddish extension of old technology, a means by which Americans who bowl alone can pretend to have lots of friends."
—"The People’s Republic of America Reports 1.8% GDP Growth"
(Inner Workings, 5/26/2011)
Ain't that a kick!
What's more, MySpace already has demonstrated the trouble with the internet's low barrier of entry. So, chances are Facebook, too, will fade, just like MySpace has.
Ah, but with so many suckers to bleed and crooks to feed a fix of days gone by, well, LinkedIn will be made to shine, if only that the promise of sugarplums in a Facebook IPO might keep the suckers at the trough of those many hopelessly insolvent banks that otherwise have been offloading risk since 2008.
And speaking of sugarplums, anyone thinking today's raft of bad economic news did not stir visions of QE3 must be a financial diabetic.
However, there's more bad news, suckers: UBS just unloaded on Team Fraud's marionettes who go by the names of Bernanke and Geithner.
I so disagree with David Goldman's claim that, "there’s no more risk to be shed." Apparently, so too does UBS...
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