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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Scott Bergquist who wrote (1277)	12/5/2000 9:54:21 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 74559

If Greenspan & co had just investigated this problem from the positive point of view, they would not have been worried about a liquidity crisis. Actually, I think AG really had a pretty good grasp with regard to US vulnerability to Y2K, namely very little. But the real fears were overseas where many economies were using hand-me-down US technology, or had essentially done nothing. One example was Italy, which only in January,1999 announced they were forming a govt agency to coordinate Y2K planning. Asia, particularly Japan and Korea were even worse in many regards. I have first hand experience with this since a good friend of mine was intimately involved in coordinating Y2K contingency planning with PacRim nations for the Dept of State. Some of the stories I heard with regard to their indifference, ingnorance, or plain out arrogance were astounding.... They were literally 3 months away from 01/01/00 and many nations hadn't even started on a contingency plan to deal with potential disruptions. I'd say that, overall, there were quite a few world leaders who were "whistling past the graveyard" in December-January 2000, hoping and praying that the "experts" were wrong. But they could have just as easily been correct for all these leaders knew. Regards, Ron