Speaking of Y2K....
Recently the Town of Jupiter Island, Florida,(residents include Greg Norman, Dan Marino) the richest town in the USA, average home value $1.7M, has allocated $223,000 for the purchase of additional guns, ammunition, flack jackets and generators among other things in preparation for the coming Y2K. Mind you, this may be off topic but it seems the panic has begun. Trust me, there will be a panic. I'm not sure how this will effect the POG but I don't think it will be negatively. Perhaps this will give the CBs some rallies to sell into.
The US Treasury has already printed $50B in extra cash. Getting a hard copy of your SS payments and benefits now takes 4 months because of a backlog of requests.
Personally, as I've already stated, a food and fuel panic will occur toward the end of the year. I see a BIG slowdown in housing starts/sales toward the end of the year as well as most take a wait and see attitude.
Jim
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