The so-called “pink slime” we had been using as a filler in hamburger has been in the news of late where it was referred to by many as the mystery meat. I think we should be more concerned about all the “mystery money” that we see around us today. This recent post on what is going on with GroupOn is a good example.
The writer rightly wonders if GroupOn is fast becoming the new Enron with the way they have handled their money and marketing. He shares some important insight into how corrupt much of the market has become.
Today brought news that a company with NO revenue and only twelve employees is suddenly worth a BILLION dollars. And these are only the warm-up acts because next month we will see the launch of the Facebook IPO.
With this purchase and Facebook preparing to go public we will see the same type of games this writer discusses on steroids! Some are arguing, with a straight face [pun intended] that Facebook could be worth $100 BILLION [remember to get a billion dollars you must first make a stack of one million dollar bills which is going to be about 330 feet high! THEN, you must do it 999 more times!]
I am pretty sure that the insiders will do very well with all of this, but it reminds me of all the talk about getting rich that we heard just before the tech bubble burst in 2000 and before the housing bubble burst in 2006.
Just remember, you can scoff at God’s law of gravity when jumping off a 25 story building for the first 24 floors of the fall, but you will pay the price in the end.
In the Lamb,