facebook is a bubble that will drag down the market: The Astute Bloggers scoops Marketwatch by a ... a freakin' year

VIA HOT AIR...

MARKETWATCH TODAY:

The Facebook mystique is so powerful today that in our minds Facebook truly is too big to fail. Facebook will never fail, Facebook will just keep growing indefinitely at rates that would remind us of the old dot-com mindset of 1999, hail Facebook, you are too big to fail and nothing will change our minds. And paradoxically, that’s exactly why Facebook is the ultimate economy-killer. 

Could our friendly Facebook really bring down the economy? 

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.

TAB IN  JUNE 2011:

TUESDAY, JUNE 14, 2011

IS THE FACEBOOK BUBBLE ABOUT TO BURST?

THIS IS A REAL BUBBLE IN MY OPINION, JUST LIKE THE NASDAQ BUBBLE AND THE NEW ECONOMY BUBBLE - BOTH IF WHICH BURSTED ON CLINTON'S WATCH. 

I THINK GOLDMAN SACHS IS BEHIND FACEBOOK, TOO - WHICH ONLY MAKES ME MORE SKEPTICAL ABOUT IT.
(BACKGROUND HERE.) 

STAY TUNED - IT COULD BE A ROCKY RIDE: OBAMA'S BUBBLE IS BURSTING, SO IS CHINA'S. AND MAYBE FACEBOOK'S TOO. 

OY.

AND AGAIN LAST WEEK:

MORE PROOF FACEBOOK IS A FAD WORTH BUPKUS
GM DUMPS THEM. AND THEY'RE NOT THE FIRST.
AND THE DOMINOES MAY BEGIN TO FALL... 

BOTTOM-LINE: FACEBOOK IS A TIME-WASTER, NOT A BUSINESS.

AND AGAIN:

FACEBOOK FLOP PRESAGES STOCK BUBBLE BURSTING AND A TRUE BEAR MARKET 

FACEBOOK'S 1ST DAY IF TRADING WAS A FLOP. THE STOCK PRICE WAS PROPPED UP BY THE UNDERWRITERS. 

THE MASSES KNOW IT'S A POTEMKIN BUSINESS. 

AND THAT'S JUST THE START OF THINGS TO COME...

REGULAR READERS KNOW WE SCOOP THE BIGGIES ALL THE TIME.

PLEASE SPREAD THE WORD, BLOGROLL US. BOOKMARK US, FOLLOW US.

AND BRACE YOURSELVES....