OMG!! MSN is killing written language. LOL!!

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I must admit, I use MSN extensively as I liev in a rural area and it has become a huge way for me to talk to my friends that have now moved 1000s of miles away! Sitting in Tim Hortons the other day (coffee shop in Canada) I overheard these highschool kids chatting in line. They were talking in MSN lingo, using OMG, OMFG, WTF, BRB, and LOL, all in the span of 10 minutes. Are we slowly losing our ability to speak? Have we become so caught up in doing things the short way that we are losing how to effectively communicate? Also, they recently ran a test on the streets of Toronto (Ontario). They randomly asked people on the street to cursive write a small paragraph, people of all ages, ethicinity, and gender. What was appalling were the people in my age group and younger (so 30 yrs and younger) their writing was atrocious, many spelling errors, grammatical errors. The writing itself was atrocious and almost illegible. The younger people said that these days they use the laptop for almost everything, even in class. When I went to school we never had computers in the classroom. We had computer class but that was for 30 minutes everyday. Do you think we as a society are losing something wonderful by going to the computer?