Google will rule the world – makes United Airlines bankrupted (again)
>from LA Times
Told ya – told ya…..
Google is the “wannabee” ruler of the world….
By accident – an 2002 Chicgo Tribune article showed up Google (again) – Income Securities Advisors (Florida investment newsletter) picked it up – and sent it to Bloomberg News.
They stock shares of United Airlines started that day at 12.30 Dollar – and at one point it went down to…… 3 dollars !!!!
At the end of the day – it got recovered – but not totally = and ended at 10.92 dollar (still down with 11.2%)…..
See – Google will and shall rule the world……
It shows how small causes can have a big impact.
Now imagine by mistake some old, bad economic “news” from years back reappears on the web. A currency trader somewhere in the Far East reads it and starts to sell a large amount of dollars. The exchange rate drops just a bit because of this, but it’s big enough for other traders around the world to notice. Depending on the circumstances on the currency markets, these traders can’t figure out what’s behind this drop, but the feel they need to take action. So they start to sell dollars too.
It’s the start of an uncontrolled chain reaction, the exchange rate falls down faster and faster, everybody wants to sell their dollars, panic sets in and within a few hours we have a huge dollar crisis that is the start of an economic disaster.
I’m just making this story up, but it’s very well possible…