"Asian Markets Skyrocketgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
From the AP:
"TOKYO (AP) -- As they have so often before, Asia's top three stock markets followed a surge on Wall Street by moving higher themselves today, even though no one knows for sure whether the region's economic crisis is bottoming out.
In Singapore and Hong Kong, the key indexes soared more than 3.5 percent. In Tokyo, the Nikkei jumped 2.4 percent, but slipped as the day progressed, closing only a half a percent higher.
These and many other Asian stock markets also had enjoyed a big rally on Wednesday, thanks in part to falling local interest rates and the successful launch of Europe's new euro currency."
-- pshannon (email@example.com), January 07, 1999
Wildly volatile markets are a strong sign of instability. Prudent people will be out of all stock markets and sitting on cash as of a few months ago. The daily swings don't matter in the long run. The US stock market is a gigantic bubble about to burst, I suspect, and when it goes, it will take hundreds of thousands of ordinary folks with it.
-- cody varian (firstname.lastname@example.org), January 07, 1999.
"The US stock market is a gigantic bubble about to burst, I suspect, and when it goes, it will take hundreds of thousands of ordinary folks with it."
Cody I agree and if you add in the consumer credit nightmare that will happen any year now it will be major hard times for a lot of people.
Banks are now as consolidated as they can get so now they have no room to maneuver. Plan on paying $1.00 to use the ATM at YOUR OWN bank soon, I already have to pay to use a human teller.
If this congress manages to change Chapter VII bankruptcy laws that's another nail in the coffin. Add in economic turmoil overseas if foreign banks fail due to Y2K and we could be looking at a global recession the likes of which we have never seen before. I guess this could lead to War. This is the only way I see the doomers being right about Y2K nightmare scenario.
The damn electric is not going off 1/1/00. Book IT.
Have a Nice Day
-- Jimmy Bagga Doughnuts (email@example.com), January 07, 1999.
I dunno, I am preparing just as hard as anyone, pretty much got it under control, but I am feeling like such a duffus as the Dow is racing toward 10,000, employment is at an all time high and interest rates are reasonable. Infomagic and others all ranted and raved about the European currency conversion was second only to y2k in its' possible disruptions and software debacles. LOOK!!The European currency conversion went off with nary a serious hitch! It has been said to look at 1999 for a preview of 2000, well, so far so good. My brother, who DOES NOT GETTIT, but who has lots of problems with the IRS calls me an optimist when I warn him about y2k. Cheers. Msglory
-- Roberta Blackard (firstname.lastname@example.org), January 07, 1999.
Roberta: patience is a virtue. What's getting ready to happen is going to be nothing short of unbelievable. That's why so many are having a hard time believing it.
-- a (email@example.com), January 07, 1999.
Expect The Unexpected.
Then you won't be surprised by anything ... maybe.
Keep digging in the U.S. government and U.N. archives ... somebody's worried, that we CAN "read" between the lines.
-- Diane J. Squire (firstname.lastname@example.org), January 08, 1999.