“MarketWatch’s Paul Farrell is worried that American investors are blowing a newer, bigger bubble: a “black swan” by the name of Facebook that truly can bring down the economy, bigger than 2000 and 2008 combined.
Author Nassim Nicholas Taleb’s “black swan theory” is a metaphor that encapsulates the concept that an event is a surprise (to the observer) and has a major impact. After the fact, the event is rationalized by hindsight.
“Does our beloved too-big-to-fail Facebook really have that kind of economy-killing power?” Farrell asks. “You bet.”
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