Government to data mine social networking web sites

An ominous article by the New Scientist predicts a new wave of privacy violations:

"New Scientist has discovered that Pentagon’s National Security Agency, which specialises in eavesdropping and code-breaking, is funding research into the mass harvesting of the information that people post about themselves on social networks. And it could harness advances in internet technology - specifically the forthcoming “semantic web” championed by the web standards organisation W3C - to combine data from social networking websites with details such as banking, retail and property records, allowing the NSA to build extensive, all-embracing personal profiles of individuals."