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Strategies & Market Trends : A Y2K (Year 2000) Depression Worldwide Crash
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To: gizelle otero who wrote (15)12/10/1998 3:33:00 PM
From: charger  Read Replies (2) of 28
 
Looks like interest in your thread has waned since the market bounced back with a vengeance. How quickly they forget! I was drawn here because I believe the Y2K bug will create global chaos and depression. I do not share your view that it will be a subset of the larger problem, but rather the deathblow to an already weakened system. The trigger from recessionary forces to depression, if you will. I think power failures due to the prevalence of embedded chips will be the main problem, which will cause a domino effect of other problems. Can you imagine our society without electricity for months at a time? I am currently liquidating most of my real estate holdings and going to cash. My question for you or anyone else is...which asset class will survive what I believe to be a temporary, yet very painful recession/depression. Gold as you said is a hedge against inflation, not deflation, though it may prove valuable if paper currency becomes worthless. Cash is ideal if you believe the dollar will be worth the paper it's printed on, and government securities are the best asset to be in if you think the government won't default and will pay you back. In my opinion, these are the only classes worth considering, yet I'm not comfortable with any! Is there anyone out there old enough to remember what worked in the 30's? Regards
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