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Wednesday, May 27, 2009

General Motors vs. Facebook

General Motors is worth $879 million; Facebook is worth $10 billion. What else do you need to know about the strength of the American economy?

The world’s largest automaker (until last year) is hurtling toward certain bankruptcy, but still clings to a market capitalization of nearly $1 billion. Meanwhile, the world’s largest social-networking Web site, which contributes little more than narcissism and inane IM messages to the global economy, is worth ten times as much based on yesterday’s investment by a Russian firm.

Are these the data points of economic rejuvenation? Can we Facebook our way to positive GDP growth?
-- from "Fear, Evil…and Gold" at http://www.agorafinancial.com/afrude/2009/05/27/fear-eviland-gold/.

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