Where were you when Rome burntgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
BEWARE: Do not be deceived by last weeks bounce in the Stock Market. Many persons in the know are warning that what we are seeing in the markets is not a flight to quality but a wholesale liquidation of holdings to aquire cash.
Some are linking this current fall in the market to the '29 crash. In this crash, apparently the market fell, bounced then the bottom disappeared.
I have always been told to watch the big players, and now im told that they are on a death march out of the stock market. I am told this anyway, COULD ANYONE VERIFY THIS WITH FACTS?
There is a large buzz out there in the undercurrents that the NASDAQ will find the bottom at 6500 and that the current bounce may end next week or week of 11-2.
Until recently, while I believed that Y2K was a real issue, I generally disbelieved the doomsayers. Now I really wonder and here is why:
Suppose that we really do enter a major global (yes including the USA) meltdown. The market drops thousands of points, consumers stop spending, fear spreads, protectionary trade is in place and lenders lose big due to speculative trades. 1. Do you think that companys will really focus on the money and time to fix this problem (Y2K) if their existence is in question?
2. How focused will countries be on fixing the problem when they are quelching riots and other political turmoil?
I think that the real problem is the impending collapse of our economy. Well at least we can tell our children "yes victoria I was there when Rome burnt"
I believe that now is the time to move to cash. And now is the time to begin to stock up on essentials.
"Come out of her my people lest you share in her sins and lest you recieve of her plagues"
"And the merchants of the earth wil weep and mourn over her, for no one buys their merchandise anymore.....The fruit that your soul longed for has gone from you, and all the things which are rich and splendid have gone from you, and you shall find them no more at all" Rev. 18
-- WAYNE (WWITCHER@MVTEL.NET), October 24, 1998
I believe you mean the DJI at 6500 or perhaps the NASDAQ at 1500? I believe 2Q 1999 we may see 4000 and 1000.
-- T C Mann (email@example.com), October 24, 1998.
Plus, there's this one:
Space Storms Could Disrupt Satellite, Comm Systems October 23, 1998: 3:06 p.m. ET
WASHINGTON, D.C., U.S.A. (NB) -- By Gregory Slabodkin, Government Computer News.
Computer crashes are not the only threat to military and civilian systems come 2000. Air Force experts and other government scientists have concluded that violent electromagnetic space storms will wreak havoc on systems at about the same time unfixed date code fails. "We're going to have a huge storm (about) Jan. 1, 2000, so people won't know what to blame it on," said Ernie Hildner, director of the National Oceanic and Atmospheric Administration (NOAA) Space Environment Center in Boulder, Colo.
The center's Space Weather Operations, operated by NOAA and the Air Force, issues extraterrestrial event alerts to government and industry scientists hourly, much as the National Hurricane Center issues tropical storm or hurricane alerts. Solar and geomagnetic events such as ion bombardments and explosions on the surface of the sun can damage or knock out satellite transmissions, hamper navigation systems, cut electric power and bring down telephone systems. Unlike the Year 2000 problem, space weather is a natural phenomenon that occurs in 11-year cycles. During the cycles, powerful geomagnetic storms generated by the sun spew bursts of high-energy particles and clouds of ionized gas that can damage satellites and affect the Earth's magnetic field. Sunspots, flares, filaments, coronal holes and mass ejections emanating from the sun throw off bursts of electromagnetic particles, radiation and solar wind. Geomagnetic storms occur when blasts of solar wind bend and stretch the Earth's magnetic field.
The latest solar cycle-Cycle 23-is expected to reach its maximum strength around 2000, far surpassing the strength of its predecessor, Hildner said. Geomagnetically induced current from space weathe >can be picked up by power lines and disable transformers, Hildner said. Solar Cycle 22 in 1989, for instance, left more than 6 million people in Quebec, Canada, without electric power for 12 hours, he said.
"We've had three pulses now of activity in this cycle, and in all three we have anecdotal information that the Northeast United States power grid has felt the effects," Hildner said. "So far it hasn't risen to the level of where anybody has shut down or there has been enormous equipment damage." Recent pulses have also damaged navigation systems, especially those that depend on satellites. "We know that Global Positioning System users such as NOAA have been unable to carry out high-precision surveying during these pulses of activity," he said. The accuracy of GPS, a constellation of 24 Navstar satellites managed by the Defense Department for military and civilian use, depends on the transmission properties of the atmosphere, Hildner said. When those properties change unexpectedly during a geomagnetic storm, navigational fixes from GPS can be grossly inaccurate, he said. Such vulnerability could have devastating consequences, Hildner said. DOD relies on GPS to provide precise and accurate navigation signals to military aircraft and targeting information for its guided missiles and bombs, he said.
Even though GPS satellites are hardened against electromagnetic pulses from nuclear-weapons detonation, nothing can protect the ionosphere, through which satellites transmit radio waves, from heightened solar activity. The only way to guard satellites from the sun's magnetic fields, which are thousands of times stronger than Earth's, is to wrap them with 6-inch- thick lead plating, Hildner said. Instead, DOD is turning to cheaper commercial satellites rather than military- unique systems such as Milstar, designed for strategic communications during nuclear war, he said. Iridium, which will be the largest commercial satellite constellation with 72 low-earth-orbit satellites, will also fall prey to the effects of the sun, Hildner said. The $5 billion commercial satellite communications system is designed to provide long-distance cellular telephone service to subscribers anywhere on Earth. Its customers, including DOD, will experience signal strength dropouts as a result of increased solar activity, he said. "We know that during the last solar cycle there were times when we had scintillation-the flickering of a satellite signal," Hildner. During a solar storm, energized electrons race around the Earth, creating uneven buildups of negative and positive charges on satellites. The fluctuations can affect the performance of circuits within the satellites. A solar eruption in 1995, for instance, disrupted the operations of NOAA's Geostationary Operational Environmental Satellites, which continuously monitor space weather by measuring solar X-rays, the Earth's magnetic field and electromagnetic particles in space.
-- doomy (firstname.lastname@example.org), October 24, 1998.
For some reason I've believed the bottom was about to drop out of the market too. I'm not an economist and I can't even afford to put money into the market but back in August I sent out an email to some friends and family titled "Prelude to disaster?". The first paragraph reads "The stock market will begin it's tumble today. I'd seen forecasts that the tumble would begin in the fall of 1998..." The date was 8/27/98. I remember thinking "wow, I didn't think it would start so soon." I ended the email with "If you're in the market, get out now!"
I noticed you made reference to Revelation. I'm not one who can quote scripture. Is it your feeling that we are in this time is now?
-- Michael Taylor (email@example.com), October 24, 1998.
Like you I can only share what Im told as I am not an economist either. Yet I can discern the times and seasons. I have spent days of research reading books, listening to tapes and surfing the web trying to understand where we are in the Gods timeline.
I have yet to find material that supports an optimistic view of our current economic climate. Unless you really give credibility to a stock broker or mass media. Then they are a little more optimistic. (mass media, CNN, ABC etc. is for Sheepal, not thinkers)
And the economy is the issue.
For really cool reading go to WWW.PEI.COM Open up the link PANIC OF 1998.
I believe we are in the end times and the controllers are now setting up the stage for their man. He that has ears to hear let him hear. The wise man forsees the evil and hides himself.
-- WAYNE WITCHER (WWITCHER@MVTEL.NET), October 25, 1998.
Wayne, I always appreciate your posts. I couldn't get the above link to work. Is this the correct address?
-- Louise (~~~~~@~~~~.~~~), October 25, 1998.
I sometimes get sloppy when I go by memory, the real site is WWW.PEI-INTL.COM, really interesting stuff. thanks,ww
-- Wayne Witcher (firstname.lastname@example.org), October 25, 1998.
I was gonna try to excerpt the article and do some underlining and found that would save, like, about a line or 3 so I think I'll put it up as a thread. It certainly explaines what we are seeing and have seen since the date it was pub'd which is impressive.
-- Chuck a Night Driver (email@example.com), October 25, 1998.