My sister’s business, a small beauty shop in a tiny town in New Mexico, received a notice in their most recent bank statment informing them that in December, withdrawals will be limited to $50 per day.
Here’s my take on it:
Logic dictates that some shit will hit some fans. No way to know which ones. Could be minor, could be really ugly. People (and businesses are, in the end, merely collections of people) are really good at denial, so I don’t buy the idea that corporations have their Y2k thing all worked out for fear of losing money. I think they are afraid of spending money and finding out they didn’t have to, so they are crossing their fingers and praying.
I’ve been staying on top of this VERY closely for a year now. I put off my wedding to wait and see if I could afford a big one or a quick one after Y2k. I have no axe to graind either way except that I hope like hell it turns out to be nothing.
But anyway, here’s what I have concluded:
We have two basic choices: dismiss it as hype and do little or nothing to prepare for it, or buy into it and plan to cover our asses. The degree to which you do that is up to you. And here’s the bottom line:
If the doomsayers are wrong, the people who prepared lose almost nothing (assuming they didn’t sell everything they have and moved to Montana to live off Tang and other spacefood) - they are prepared for an emergency (an especially good idea in disaster -prone neighborhoods; I live in LA, aka “Shake and Bake”) and they can use what they have prepared. They might take a bit of a hit financially if they made decisions they otherwise wouldn’t have made.
If the doomsayers are right, the people who didn’t prepare are seriously, badly screwed. Perhaps even dead, depending.
Personally, I plan to cover my ass and hope it’s all hype.
Are YOU ready for Y2K? Take my advice: Panic early and avoid the rush.