Blind sidedgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
It seems that the most damming evidence that Y2K might be quite a bad experience is to be found in testimony before the senate comittee chaired by Bennet and Dodd. The fact that some of the testimony was classified or so I have heard does give one the chills. Forget my opinion or that of other lightweights we are talking statements from experts.
I live in a rural area so there are not that many IT types locally. To my knowledge I am the only IT type locally who is prepared. We do have others preparing and they include farmers, small business people, etc.
From inside info I am aware that some are withdrawing all funds from local financial instutitions. This is causing concern on the boards of the financial institutions. One institution has been running Y2K ready adds on the local radio station all day long for some time now. On the other hand a local building supply has been running spots advertising Y2K generators. It does make for a laugh when the two spots run close to each other.
It does seem to me that assuming that the banks are truely ready, a big IF, that a bad Y2K experience will probably take the banks down due to massive defaults. I don't see for the life of me how mass foreclosure will solve anything and could even cause a revolution.
Maybe Infomagic has a point. A stock market crash just as Y2K unfolds in a nasty manner will be a double shock to the system and the population. People are creatures of habit. I know I sure am. To be blindsided from two directions at once is more than most can cope with if they have no fore knowledge. Playing on wide screen in just two months. PG recommended.
-- Ed (firstname.lastname@example.org), October 26, 1999
One of the reasons my hubbie and I moved back into our own home (made the commute for him much longer) was that last spring the state that we live in passed a law that if the governor declares a state of emergency, the banks will not be able to foreclose on primary residences. At least we will have a place to live.
-- Morrighan (email@example.com), October 26, 1999.
What state would you be in? Hopin' it's MINE!
-- georgia peach (firstname.lastname@example.org), October 26, 1999.