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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (32273)	11/4/1999 6:29:00 PM
From: Casaubon	Read Replies (1) \| Respond to of 99985

Lastly, here is a very unique take on Y2K: One strategist fears what he is calling the "ATM Effect." He agrees that everyone in the world will take money out of the bank to have cash on hand for Y2K. But, he says, if they don't use or need the money for Y2K, they will end up spending it because no one will put the money back in the bank! Running the math, there are 139.4 million people in the U.S. labor force. If each one took $1,000 out of the bank for Y2K emergencies, that totals $139 billion -- that's lots of cash that could burn holes in lots of pockets! >>>My note: Half the people don't have that much money in the bank. Well, I make up for about twenty of them <ggg>