Y2K Economic Impact in NZgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
For a Report of a
New Zealand Assessment of Economic Impact of Y2K see:
My 2 cents worth:
What I observe around me is reflected in the report.
I think NZers are moving towards a higher state of preparedness.
I think the report seriously underestimates the impact of Y2K on global infrastructure.
JIT won't work without transport.
We have just ordered a years supply of paper. It is ironic that in the age of the digital office (the paperless office?) without paper supplies universities stop functioning.
My thoughts are specially with the people in tornado country, USA.
-- Bob Barbour (firstname.lastname@example.org), May 04, 1999
Bob, I've got a three year supply of paper. Nothing to do with y2k really, it's just that the local office supply store was practically giving it away. It will cost me about $9.00 in interest cost to carry the inventory, but I saved much more than that on the bulk buy.
Since I've heard nothing about the paper industry being ready, I think I'll hold on to the stash.
-- Puddintame (email@example.com), May 04, 1999.
Also see the article at this link. A couple of sentences I've put in bold type are unintentionally classic:
Rennie said that the shock would be on a par with events like drought and the Auckland power crisis. The Treasury believes Y2K will not have much impact at the macro level unless it is widespread and prolonged.
None of the effects we've identified so far is likely to have a significant effect on the economy provided New Zealand is well prepared," said Rennie.
The prediction for the country's economy was based on anticipated altered expenditure patterns as businesses bring investment forward, disruption due to Y2K related failures and stock piling of cash and products.
Rennie added that although overall economic effects would be small, Y2K could cause significant disruption for individuals and businesses and a knock-on effect from unprepared trading partners could alter the assessment.
-- Kevin (firstname.lastname@example.org), May 05, 1999.