Can a nation's happiness be gauged from Facebook status updates?

Are you one of the 400 million or so people around the world who use Facebook?  If you are, Facebook is tracking your status updates as part of a Gross National Happiness Index.  It's designed to gauge the overall happiness of the country that you live in. So what do you think?  Can you distill a nation's happiness from Facebook status updates? How well do your own status updates reflect your true state of mind? (Also, we'd love to see some of your favourite status updates!)
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