How Facebook could destroy the U.S. economy

Paul B. Farrell
marketwatch.com
May 23, 2012

Facebook just joined a “troubled club,” warns the Economist. Now it’s just another “endangered public company.”

Yes, endangered. The number of public companies has declined 37% since 1997. The number of IPOs has dropped from 311 annually before 2000 to 99 the past decade. Meanwhile, the smart CEOs and the Super Rich are “going private,” to avoid government red tape restricting capitalism.

Over at BusinessWeek they’re warning investors that the growing number of “cutesy mascots” is a dangerous reminder “of the dot-com boom’s irrational exuberance.” They’re also red flagging new reports that “more Chinese investors are betting on U.S. start-ups.” And feeding the flames.

What’s going on? Facebook’s in trouble, that’s what. Now in the crosshairs of public scrutiny, everybody’s taking potshots. And the warnings are just beginning:

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This article was posted: Wednesday, May 23, 2012 at 7:19 am

Tags: domestic news, financial

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