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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: jbe who wrote (857)	12/3/1998 2:49:00 PM
From: Rob Shilling	Read Replies (1) \| Respond to of 1301

I guess I am in the camp that Y2K is kind of overblown. But, lets face it, even if Russia has some Y2K problems, how bad could it be. Currently there is NO banking system, so what if a few banks have a Y2K problem ??? People still barter. Outside of Moscow I doubt there are many things that could be vulnerable to Y2K. But, America is very industrialized and sits on a lot of technology in every industry. Also, America is going to have a hard time doing business with the rest of the world that has these Y2K problems (money transfer problems, communication problems). But, America has already blown off Russia because it is not a big trading partner, so America doesn't care too much about Russia's Y2K issues (except for the missile silos). Of course America is worried about Y2K. A small dent in GNP for the U.S. may end the 15 year bull market in U.S. equities that have many S&P 500 companies with higher market caps than Russia. Russia on the other hand will skate by, because they are underdeveloped in technology. Also, isn't something like 1/2 of their economy oil and gas ??? Since these industries have yet to become very modern, I doubt they have Y2K issues.