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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: John Mansfield who wrote (2780)	11/2/1998 11:20:00 PM
From: O. H. Rundell	Read Replies (1) \| Respond to of 9818

If 100 million Americans change anything they do in their normal pattern of economic behavior, whether it's deciding to take money out of the stock market to protect their IRAs [Individual Retirement Accounts] or show up at their gas stations in the last week of December to fill up their tanks, that will be a problem. John, I just cannot trust this guy (but then, who is his boss?). He talks a good talk, but IMHO he is clearly hiding the truth. Certainly we don't want a "panic", but if the public isn't informed truthfully -- well in advance -- there will certainly be a Y2K panic sometime in 1999. Seems to me that a lot of folks inside the beltway are worried about "overreaction". Frankly, here 1500 miles west of the beltway, I'm a lot more worried about "underreaction". Preparation for Y2K means precisely changing one's economic behavior, but John K. doesn't want that. Problem is, you can't have it both ways...everyone preparing but no one changing their behavior. Nonsense! The gasoline argument, by the way, doesn't hold up. Certainly we don't have enough of anything if everyone waits until the last week of December 1999 to stock up, and that's exactly what will happen if the government continues with their "No indication" [of infrastructure failure] pap that we heard from John K. on "Nightline" last week. Best, O. H.