Guest guest Posted May 28, 1999 Report Share Posted May 28, 1999 ********** From the Producer's Desk May 27, 1999 Jon Huntress Associate Producer Year 2000 Information Center There has been good news and bad news about Y2K in the past two weeks, and that is business as usual. The latest survey shows that fewer people fear a society melt down but almost everyone is going to take some extra money out of the bank next December, "just in case." The Federal Reserve is working to make this easier - so that banks can get extra cash if they need it. I attended a banking Y2K conference in Dallas a couple months ago, and the banks are working hard on just these issues. Did you know that there might be an armored car shortage if everyone want's extra cash? The contingency is to use a bank vehicle, they suggested something the size of a Suburban, but you had to be careful to make sure the same person as usual goes to the Fed to get the cash, because they don't give money to just anybody who asks. Banks are also stocking up on paper so they can meet the anticipated rush when everyone asks to have a printed copy of their statements at the end of December. Did you know that if every company in the country ordered just one extra day's worth of office supplies it will increase the Gross Domestic Product by 4%? Do you think people and businesses will continue buying right up till Jan 1? On the other hand, there is the continued lack of assurance coming from abroad. We don't have a good idea of what is going to happen in other countries. In fact we really don't know much at all in this area, nor can we make predictions of what kind of fallout will result. So the situation is about the same as it has been but we are still here watching things and reporting to you about what is going on. 218 days left! Jon Huntress Associate Producer Year 2000 Information Center http Quote Link to comment Share on other sites More sharing options...
Guest guest Posted May 29, 1999 Report Share Posted May 29, 1999 > Did you know that if every company in the country > ordered just one extra day's worth of office supplies it will increase > the Gross Domestic Product by 4%? Do you think people and businesses > will continue buying right up till Jan 1? Building of inventories has preceded every major depression. The building of inventories in anticipation of shortages stimulates the economy. Even if nothing happens on Y2K, the companies will then draw down on those inventories, sending the economy into at least a recession. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted May 29, 1999 Report Share Posted May 29, 1999 > Did you know that if every company in the country > ordered just one extra day's worth of office supplies it will increase > the Gross Domestic Product by 4%? Do you think people and businesses > will continue buying right up till Jan 1? Building of inventories has preceded every major depression. The building of inventories in anticipation of shortages stimulates the economy. Even if nothing happens on Y2K, the companies will then draw down on those inventories, sending the economy into at least a recession. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.