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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: SOROS who wrote (13282)11/23/1998 8:34:00 PM
From: Jeffrey S. Mitchell  Read Replies (2) of 13949
 
From the East Asian Strategy Report release today by the Pentagon:

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[Separate box: Even as Asia-Pacific nations work to base their societies increasingly on advanced, computer-based technologies, we must remain aware of, and indeed anticipate, potential complications such modern and intricate systems may engender. The "Year 2000" (Y2K) computer problem, for instance, threatens to affect major public and private operating systems around the world, with potentially substantial impact on economic, social and military security in the Asia-Pacific region.

The "Y2K problem" is the term used to describe the potential failure of information technology prior to, on or after January 1, 2000. The potential exists because of the widespread practice of using two digits, not four, to represent the year in computer databases, software applications and hardware chips. Difficulties will arise in the Y2K when that year is 00 and information technology will be unable to differentiate it from the year 1900.

DOD is taking the Y2K problem seriously and has generated cross-service work groups to address the issue. Likewise, the United States encourages all nations in the region to redouble their attention to the problem,and work together to anticipate and manage this potential security challenge.]

defenselink.mil

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The report was not intended to be about Y2K, so, in that context, it was nice to see that some people in the Pentagon are willing to acknowledge Y2K as a legitimate global problem. During the press conference on CSPAN today, someone actually asked a question about Y2K and that passage. Sorry, but I find that quite interesting considering all the other "major" issues in it.

- Jeff
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