| An SI Board Since February 1999 |
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The most relevant point is that the PERCEPTION of worldwide calamity will definitely effect all markets and the manner in which people arrange their finances. (If you want proof, see the article attached below).
So many people BELIEVE that there will be a catastrophe and that is all that matters. There will certainly be some amount of system failure, but no one can guess how much.
However, there will definitely be widespread panic based on the perception that there will be massive shutdown. Whether the fear is realistic or not, does not matter, because fear is what will effect the market. In spite of all available data, the market still moves based on "hunches" and "near certainties" since no one ever actually KNOWS what is going to happen.
Therefore, the relevant point is not what is going to happen to the computer systems in 2000 or whether the failures will effect the market. The point is that the perception of worldwide calamity will definitely effect all markets.
The people who call all of this a hoax may be astute oberserves of human nature and society, but they are very naive about what effects markets. If Greenspan's facial expression changes, the market reacts. When half the world's population believes-- rightly or wrongly-- that their bank accounts are lost, the markets will react.
see, "Industry Trend: Year 2000 and Movement Offshore" at
barringtongroup.com
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