Posted by HankM on April 13, 1999 at 19:18:51:
Yes there will be problems, some may even be big ones, but they won’t last long. And, the widespread fear that the banks will collapse and the stock market will devalue are bizarre … the banks are about the most highly regulated industry in this country (insurance and securities might argue) and trust me the regulatory agencies are MAKING SURE that banks will be ready … they may “help” those with problems in the last half of the year.
With respect to the stock market, there may well be some “earnings surprises” in the 3rd and 4th quarters as $ devoted to Y2K stuff hits the bottom line, but that is good news in my view … it means companies are “fixing” and will be ready.
What I expect is that there will be problems … I think of it like a big snowstorm … things will be screwed up for a few days or a week … the the world will keep moving.
So, if you’re selling, I’m buying … of course at a discount because I’m taking the “big Y2K risk”
BTW … TURN OFF THE CAPS LOCK … IT’S LIKE SHOUTING AND IT’S TOUGHT TO READ!!