What has happened or might happen in the world of Y2K finance.
What has happened.
* People have tried to trademark words like millennium and Y2K.
* The treasury has printed extra dollar bills to cope with people taking money out of checking accounts and ATMs.
* Sales have doubled at bulk food stores like Walton Feed of Idaho, and other emergency food and supply stores across the nation because of preparations for Y2K.
* Economists predicted that there is a 35% chance of the world going into a global recession because of Y2K.
* JC Penney has marketed a whole line of "01-01-00" merchandise including socks, hats, clocks, snow globes, and stuffed animals in anticipation of Y2K hysteria.
* Some who think that Y2K will cause total collapse of all markets are storing up on food, batteries, water, and are buying generators costing thousands.
* "Y2K Solutions" cost $39.99 and up, and are selling like mad.
What might happen?
Many have predicted what impact Y2K will have on business. Here are some of their predictions:
* Y2K may cost the world over one trillion dollars to fix, yes that's right $1,000,000,000,000.
* Looters might loot businesses costing many millions.
* After banks crash we might go back to an all cash economy.
* Y2K might be the litigation event of the century because of companies that get mad at the people that they paid to fix the bug and failed to complete the task.
* Airline businesses might see a loss of customers around New Year's Eve 1999. In a recent survey 60% of high tech executives won't fly on 1-1-2000.
* Y2K might send world economies into a recession.
* The U.S. economy is worth 7 trillion dollars and only 460 billion dollars of it is in cash. This could spell disaster if the computers that contain the other 6.5 trillion dollars in electronic wealth crash.
* Alarm companies might get rich off of people trying to get their homes more secure.
* Because of Y2K the money supply might shrink by 96% in the U.S.