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To: long-gone who wrote (39266)	8/19/1999 12:35:00 PM
From: John Hunt	Read Replies (2) \| Respond to of 116900

OT - Secret Government Study Reveals Massive Y2K Problems in American Cities << How many days could New York City survive without water and sewer services? How long would it take to evacuate eight million people in the dead of winter? Would thousands die in the process? Tens of thousands? More? When would the rioting and looting begin? How many National Guard troops would it take to control the largest city in the nation? What unthinkable devastation would be wrought on the global financial system? How might our enemies seize on the ensuing panic and confusion? Are these the crazed speculations of a Y2K alarmist? Not if you know what the US Navy and Marine Corps know. According to a June 1999 report titled, "Master Utility List," they believe "total failure is likely" for New York City's water and sewer systems because of Y2K problems. >> ... cont'd at ... jimlord.to List of Cities at Risk jimlord.to (Also check the rest of the links on the left about the survey) ***** Hi Richard, Scariest thing I have seen so far on Y2K. As Ripley used to say 'Believe it or Not' Slick, you are not doing it to us again, are you? :-(( John

To: long-gone who wrote (39266)	8/20/1999 8:47:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116900

Chinese Devaluation Looming NEW YORK, Aug 19 (Reuters) - A Natwest Global Financial Markets analyst said he told bank clients in a telephone conference call Thursday that deflation and poor economic growth may prompt China to devalue its renminbi (yuan) by about 15 percent, possibly in the next 35 to 45 days. China faces ''basically a deflation problem and economic growth problem,'' the analyst told Reuters when recounting the teleconference. Talk of a devaluation by China has swirled around global financial markets over recent weeks, but the analyst at Natwest said he warned the bank's customers that ''the longer they delay it, the longer it is going to take for a domestic economic recovery to set into motion.'' Concerns about slower growth of four to five percent over the next few years and imbalances in the nation's economy prompted Standard & Poor's to lower China's sovereign rating to double-B from double-B-plus in July. The yuan is technically held in a managed float system, but in practice China has kept it pegged firmly at around 8.28 yuan to the U.S. dollar. The Natwest analyst said expectations of a devaluation may actually be holding off investors from China until the devaluation has occurred and news of it has been digested by global markets. ''The devaluation hanging over the market like Damocles' sword is not a good thing,'' the analyst said. biz.yahoo.com