Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (25375)	1/12/1998 9:38:00 PM
From: Earlie	Read Replies (2) \| Respond to of 132070

Ron: Good friend Fred Hickey, has done more work on this than I have. Earlier, I thought he was overstating the probable impact of the problem but during this past year, my view has changed and I now believe that he has been right on the money all along in stating that it is a very nasty problem that has been underestimated with respect to its probable impact. Anyone who thinks that computer problems can't have serious impact, need only look at the problems some HMO's have experienced due to their computers not billing correctly, to have their views shaken up. The market doesn't seem to be worried about it, but of course it doesn't worry about anything until its presence is overwhelming (I loved the clowns who today were stating that Asia has bottomed .....shall we bet on that one?). The Y2K problem is both big and near term, and will just add to the market's miseries as it draws closer. Our own work has tended to focus on the degree to which corporate budgets will be re-directed towards solving this problem and away from purchasing more PC's or networking systems. This is in fact already occurring. I can't express an opinion on the computer service providers as a defensive play as insufficient homework has been accomplished. Asian banks already have enough problems just trying to survive until next week, never mind Y2K problems (g). I personally think that the IMF doesn't have and can't raise nearly enough dough to have any serious impact on the Asian debt problems anyway, so a lot of them will disappear before the year 2000 gets here. As an aside, perhaps this is for the best (using taxpayers' money to bail out foolish lenders just encourages more of the same). Your point is well taken with respect to their unpreparedness. Best, Earlie