Y2k Vs. Stock Market Crash
The stock market crash of 1929 and the year 2000 bug are very similar. Black Thursday was not one of the brightest days in American History. This day was the cause of a nation downward spiral that closed 4000 banks, starting the great depression, and leading to stock that at one time would decrease 89% to the value some had bought.
The cause of the stock market crash was largely due to over investment. The problem was people who didn’t have the resources, investing from credit to buy into the short-lived age of wealth. Many people now are investing data in computers that is irreplaceable. They leave the data there assuming it will be there the next day or whenever they need it. In an age of information this might not be a wise idea. People are buying information on margin. They buy easy interfaces like Turbo Tax and Windows 98 that come to a computer user with almost no skill. The data is invested by these “Computer Dummies”. It is the assumption......
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