Because Yardeni has made some very astute calls on interest rates over the past year I paid close attention to him on CNBC a few days ago.
I am afraid I came away with the impression that whatever percipience he may have exhibited on that matter, his opinions of some other subjects were a little scatter-brained.
All that is necessary to solve the so-called Y2K problem is to junk a lot of computer equipment--and that happens all the time anyway.
There are many far more challenging problems that are easily overcome. For example, in about 1993 I bought an IBM 486 with a 25 MHz chip hard-wired into it and a bios that would not handle a hard drive larger than 540 kb. My daughter still uses it, with a card that modifies the bios every time it boots so that it reads a 1.6 med hard drive. Both hardware and software fixes for the supposed y2K problem can be made available quickly anc cheaply and the "problem" simply not worth discussing further. It's largely imaginary.
Of course, for people who love things like flying saucers, Communist conspiracies, mediums, palm-readers, acupuncture, Edgar Cayce, Andy Warhol, John Cage, John Ashbery, Pyramid Power, and so forth, the Y2K problem is a great blessing. Oh, I forgot the Oxfordian theory of Shakespeare authorship. |
