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Technology Stocks : Discuss Year 2000 Issues

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To: Cheeky Kid who wrote (8858)	10/3/1999 2:40:00 AM
From: C.K. Houston	Read Replies (1) of 9818

"To be sure, not everyone was persuaded by The Limits to Growth that the sky was falling. There were more than a few skeptics who scoffed at the Club of Rome's cheerless projections as misleading and short-sighted. But most such doubts were washed away the following year when Arab oil producers responded to the 1973 Yom Kippur war in the Middle East first by unilaterally raising prices and then by cutting off deliveries to the West." ... "What followed over the next few years seemed to prove the doomsayers right. Between 1973 and 1981, soaring energy prices pitched the United States headlong into its worst recession in four decades. Economic growth sputtered to a halt, unemployment mounted, and inflation soared, seemingly out of control. Long lines became commonplace at gas stations, with frustrated motorists often coming to blows. Electrical brown-outs became a regular feature of urban summers, and with heating oil deliveries uncertain nervous New England homeowners turned down their thermostats in winter." You know, kind of reminds one of Y2K (Y too Kay) - Cheeky Kid Me too. Cheryl

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