B.K.: You are correct in all of your points.
Can you imagine the consequences and the cascading effects when the said software problem, or ones like them, occur concurrently, in hundreds of thousands of entities?
Why do you think that would ONLY cause a slowdown/mild recession?
The chip/systems problems affect our ENTIRE infrastructure.
How many embedded chips/systems are there- 40 to 70 billion?
The most current estimates are about 5% failures, correct?
Taking the lowest figure, isn't that about 200 million with the potential to disrupt or shut down systems? And, all happening within months, thruout the world? When did widespread awareness of this problem start- about 2 years ago? How much/little attention is being put on replacing these in utilities, water delivery, pipelines, desalinization plants, sewage systems, maritime shipping, military,
port facilities, etc.,? How close to 0 will the % be of correct chips/sytems replacing those billions? What will be the bottleneck for last minute chip orders? Are the manufacturers of them themselves compliant(please don't say 'yes'). Airlines almost certainly will not be flying after/even prior to Dec 31 (pilot walkout, insurance company non-coverage)...how will the chips be delivered? These are just a few of the most relevant questions, just for starters.....
The embedded systems in the whole oil pump to utility company/gas pump chain
(about 10 layers wide) I fear will prove to be the archilles heel of modern civilization.
Only a recession...slowdown?? Wait till the dominoes start falling....
and, in BOTH directions...repeat, in both directions....
Ken "its far too late!"
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