How do you consider the post-modern form of 'text-speak'

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How do you consider the post-modern form of 'text-speak' utilized by young folks in the west, particularly in America, through instant messaging on their phones and computers? Is it a threat to the english language, or a forgettable colloquial zeitgeist?

When I speak to people online who type in this manner, I find that their personality and consequently a vital part of communication is lost in the speak, and I need to ask them to clarify things often. I feel that this method of speech is just one of many self-censurships which were forseen to happen in the dying days of capitalism.