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Technology Stocks : Discuss Year 2000 Issues

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To: Runner who wrote (8617)	9/11/1999 8:43:00 AM
From: flatsville	Read Replies (1) of 9818

Runner-- When I read things like this re: foreign banking and securities: cnn.com and this re: foreign transportation: dailynews.yahoo.com ft.com and then this re: global interdependencies: usia.gov of course the global economic implications become hard to ignore. As I've said before we could all be warm and snug in our beds with plenty of hot water for our morning showers the morning of 01/01/00 and this could still be a disaster. I've been keeping a close eye on oil and chemical industry reports which I feel are important clues, but it is difficult to get timely information. For example, the iea.org website has not been updated with the August Working Paper survey on the oil industry. (I've emailed them twice now asking that the site be updated.) If I recall correctly the larger chemical industry is responsible for 10-15% of gross global product? The oil industry may be in the same percentage ballpark if not higher. (Any help here with percentages appreciated.) So problems in one or both of these industries could spell big trouble. And of course the U.S. is highly dependent on foreign suppliers for both chemicals and oil. There is no strategic chemical reserve. The CIA is so concerned that so much of basic chemical processing has moved abroad that it organized a standing committee to monitor the situation. Even if the grid, telecom, banking and other key systems stay up and reliable here in the U.S. foreign based supply line and JIT problems could cause problems weeks and months down the road. What will those problems do to GDP and the unemployment rate? As our good friends at the State Department noted: "Since we live in an interdependent world, lagging Y2K preparations in other parts of the world can affect our national interests. While the United States has taken the lead in preparing for the Y2K rollover, we cannot afford to merely hope that the rest of the world is ready too" In regards to the questions you posted: >>>How do you feel now? More concerned than before. >>>Is there a storm coming? Yes. >>>Or are you reassured? Not by any information I've seen on the global economic issues.

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