Wall Street Journal Y2K Fare 2-2-99 re: Prescriptions, Gold Prices, Hog Pricesgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Today's WSJ has one article specifically about Y2K dealing with pharmaceuticals and two tangentially related articles dealing with low price levels on hogs and gold.
DRUGS Drug makers are concerned that pre-y2k stockpiling by consumers could cause shortages. The drug manufacturing process is very time-consuming and facilities are already at capacity. Dr. Charles Popper of Merk says if demand were to double or triple in a short period, spot shortages would develop and "people won't get their medicines."
Dr. Popper says priority drugs will go to life-sustaining, such as AIDS, drugs that are big profit producers such as Zocor.
Article is lengthy. See hard copy (page B4) or paid registration for details.
HOG PRICES Meatpacker IBP reported quadrupling of profits from increased margin reflecting depression level prices for live hogs. Farmers angry at IBP for profiting at their expense.
GOLD AS INVESTMENT In a move that reflects gold's decreasing popularity as an investment President Clinton's fiscal 2000 budget asks Congress to allow the IMF to sell $1.4 billion of the IMF' own gold reserve for debt relief for poor countries. (Editorial comments by Puddintame: 1. If we operate on the premise that government is hopelessly incompetent, maybe it's time to start thinking about buying gold, although I wouldn't want to buy right in the face of *massive* central bank selling. 2. I wonder to what extent the Prez.'s buddies on Wall Street, who foolishly lent billions to third world tin-horn governments, were instrumental in this "wise" decision to sell IMF gold so those debts could be repaid.)
-- Puddintame (firstname.lastname@example.org), February 02, 1999
MSNBC picked up the Wall St Journal drugs/Y2K story. It's at:
Sorry, I never have learned how to hotlink in these forums... fora... fori... oh, for-get it :)
-- Drew Parkhill/CBN News (email@example.com), February 02, 1999.
-- Chuck, night driver (firstname.lastname@example.org), February 02, 1999.