According to publishing sources, Tuesday's WASHINGTON POST is fronting a massive, glowing homage to Y2K-- a piece that comes close to claiming an American technological victory over the impending millennium bug!
The POST teams up Rajiv Chandrasekaran, Eric Lipton and Stephen Barr who report that over the last two years $50 billion -- according to a conservative Federal Reserve estimate -- has been spent across government and corporate lines to correct potential Y2k problems -- but other analysts say the number could reach $500 billion.
"Technology specialists, industry executives and government officials alike now are increasingly confident that ordinary Americans will enter the new year with few electronic disruptions in crucial public services, including electric power, water, telecommunications, transportation, banking, food distribution and important government operations."
The Post story coincides with Wednesday's arrival of the Senate's report which concludess that "Y2K problems will hit sporadically ... and will cause more inconveniences than tragedies."
The only aspect of the Y2K phenomenon in America the paper seems bearish on is the human response to the pending event:
"A rush to withdraw large amounts of cash or to fill cars with gasoline or pantries with food could temporarily deplete grocery-store shelves, automated teller machines, pharmacies and gas stations..."
The paper's prognosis for the rest of the world is not so cheery:
"Overseas, particularly in Russia, China, Eastern Europe and developing nations in Africa, Asia and South America, severe disruptions are considered likely." |
