This paper argues that the seemingly unstoppable process of artificial news creation and content sharing has significant implications for the future of citizen journalism, news gathering and broadcasting around the world because fake news reporting has become a phenomenon among all age groups, cultures, communities, and social classes. While phony news sharing is more common in industrialized nations because of users' easy access to portable devices, those in emerging countries share news content on a massive scale, in part, because they do not have the resources to filter real news from fake news. The paper argues that users in the two regions (industrialized nations and poor or underdeveloped nations) may be less interested in working to decipher phony news content because it provides intrigue. Further, the paper presents examples of social injustice to support the claim that fake news reporting shared on social media can have significant implications on nation-building, particularly the socio-economic advancement of the nation. A case in point is that the increased incidents of content-sharing and content recycling in politically fragile states such as Cameroon, Libya, Burma, Iran, Indonesia, and China have been fueled by fears of government monitoring of social users. This paper uses the social interaction and uses and gratifications theories to examine the extent to which a networked, fast-paced news sharing society is indeed a global family; it also explains how fake news reporting can be a useful tool for community mobilization.