If its a Bump in the Road then why...Unanswered Questions

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Im looking for answers/clarification: Last June at the CSIS meeting speakers like DeJaeger said words to the effect Y2k will be the 1st curve in the information Hwy and we dont have a steering wheel; wheels will come off the stock market cart;we heard if they dont show leadership by the Nov98 elections it will be too late. On 6/14 The Pres amends an Exec Order to include Y2k communication,reconstruction,etc here and abroad. The Fed issues a regulation that Banks can shut branches without going through usual step in case of Y2k problems. Greenspan is quoted with words that 99% isnt good enough on banking fix. But then many of same guys flip/flop now. Why the change? Is it real? Denial? Disinformation?

-- Ruth the Moab (aapm@aapainmanage.org), June 17, 1999

Answers

All of the above.

:(

-- FM (vidprof@aol.com), June 17, 1999.


It's because this is what would happen if everyone took $500 out of their bank accounts:

If every American did that, $125 BILLION in cash would be withdrawn, or approximately all the cash that is currently in circulation in the country. See how piddly that $50 billion the Federal Reserve said it would make available at the end of the year is?

Add to that all the businesses who might to hang onto or withdraw extra cash just in case, and you can see why the government is telling you to prepare for only a three day period. If they told you to have a month's supply of cash, it couldn't be done. The banks would have to close.

That's why you see flip floppin' all over the place.

-- Dog Gone (layinglow@rollover.now), June 17, 1999.


You ain't seen nuthin' yet! Wait until the spinmeisters figure out how to play down the spillage of 4 million -- thats F-O-U-R M-I-L-L-I-O-N -- gallons of RAW SEWAGE during that Y2K test. (Lets just say that unstead of bump in the road, we will just call it a "pothole", as in "potty"....)

-- King of Spain (madrid@aol.com), June 17, 1999.

Ruth:

Their lies will grow bigger and bolder. They do NOT want to cause panic. Truth is their enemy and my friend.

-- Randolph (dinosaur@williams-net.com), June 17, 1999.


$200 billion + $50 billion y2k contingency currency = $250 billion of available currency.

$250 billion / 102 million households = $2,450 per household.

"Just the facts, ma'am."

-- Sgt. Friday (weekdays@4.PM), June 17, 1999.



I wonder if anyone will answer your question straight Ruth? Here goes-- The reason the experts "flipflop" is because they can evaluate information and adjust accordingly. These are all intelligent, reasonable, business savvy adults. When the facts no longer point to a possible 10 on a scale you move down. When you see business getting their butts in gear and doing the work you can relax a little. when you see many businesses doing the same you relax a little more.

I find it incredulous that these people who moderate are accused of being paid off or lieing just for money. Why? would anyone forget in a mear 6 months what they said? As a line from a movie said "What possible incentive could anyone offer me to do that?"

Things change. People that refuse to change are usually left standing still.

-- Not a Polly (not@doomer.either), June 18, 1999.


"$250 billion / 102 million households = $2,450 per household." -- Sgt. Friday Eye witness report:

$223,500 / 10 households = $22,350 per household.

...some of those 102 million households aren't going to be able to get their $2,450

-- RUOK (RUOK@yesiam.com), June 18, 1999.


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