Remember H.G. Wells’ novel about an alien invasion? It’s not robots the Earth needs to fear. It’s rogue bloggers.

Cyber attacks halted posts to Twitter and Facebook last week. The source of the assaults is still unclear. But suspicion has turned to a Georgian blogger with the screen name “Cyxymu.” The digital blitzkrieg makes Acrimoney wonder:

Is a world without Twitter and Facebook such a bad thing?

Let’s face it. These two social networks eat time and money. Here’s what a 15-year-old analyst, working for Morgan Stanley in the United Kingdom, had to say:

“Teenagers do not use Twitter,” he pronounced. Updating the micro-blogging service from mobile phones costs valuable credit, he wrote, and “they realise that no one is viewing their profile, so their tweets are pointless”.

He may be right. But “denial-of-service” disruptions are terrifying. It appears that one blogger, the aforementioned Cyxymu, took down these two social networks. Think about all the lost tweets and the status updates gone forever. And in retribution, a different tribe of bloggers counter-attacked Cyxymu. His blog went down-a victim of the dread “denial of service.”

How long will it be before cyber spats spill over into financial services and disrupt wealth management?

Earlier this summer there was an attack against the New York Stock Exchange. Authorities think the online assault originated somewhere in North Korea. The attack failed, but it’s plausible that future strikes will be more successful.

Ultimately, Acrimoney believes the wealth management industry will have no choice but to deliver ALL information online. It’s cheaper to e-mail digital statements than to snail mail hard copies with all the disclaimers that come at the expense of trees. Paperless statements save us the hassle of shredding and cleaning up trails of confetti that invariably spill everywhere and software like filecenterdms.com can save us the inconvenience of having to print, file and manually store every document we need.

So do we care whether Twitter and Facebook go down, new-age victims of geo-political rogue bloggers?

You bet. Acrimoney backs up all financial information. We hope you do, too.

Thanks for visiting.