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Technology Stocks : Discuss Year 2000 Issues
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To: Jeff Redman who wrote (799)12/31/1997 4:20:00 PM
From: Hawkmoon  Read Replies (1) of 9818
 
Jeff,

I think that the prospect for a depression is quite possible. The main rationale supporting this perspective is that come December, 1999, many folks will be removing their cash from the banking system and this may create a financial panic.

Fear of this possibility, as well as reduced corporate earnings overall as a result of Y2K economic impacts, especially in Asia, may first lead to the correction and recession that Yardeni has talked about.

The biggest problem won't be the actual result of the Y2K issue. I don't think there are too many problems that couldn't be worked out given a rational society. But that we're not, and we fear the unknown. The market is psychologically driven in my opinion and that scares me more.

Fear the herd. (except when they are going(buying<VBG>) in your direction... :0)

Regards,

Ron
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