reply to post by N.B.A.Y.S.O.H
Y2K was a government sponsored PONZI scam. It forced companies to upgrade to new computers, new servers, new software. It created hundreds of
thousands of jobs and gave the economy a shot in the arm like you would not believe. It created thousands of new companies, all destined to fail in
the year following 2000. It created new publicly traded companies that eventually went belly up. I was working down on wall street at the time and
it was the easiest money Wall Street ever saw. You bring a company public, relate it to Y2K and BAM.....stock triples on the opening day. It was
insane, but extremely profitable for Wall Street. It became a boom for traders and day traders at home. It generated some of the largest investment
gains ever seen by individual traders while the stocks went from $10 to $400.
This is the main reason for the budget surplus Mr. Clinton enjoyed was an unprecedented taxes on investments received by the treasury. He never once
submitted a balanced budget and no President in their right mind would. You submit undercut budgets for the whole purpose of coming up short so you
can ask for more the next year. Thats how it works.
In the 24 months following Y2K, countless companies went bankrupt, countless people lost jobs. I hate to say it, because I know the politcal leanings
of most of you on the boards, but this is what was left to George Bush. I know you all hate him and see him as the evil dictator wanna be, but the
mess that was left in his hands was not his fault. After Y2K, Wall street profited further. After the stocks were trading for 6 months, and the
brokers were alllowed to drop coverage, the did. They then got short as the stocks were continuing to go up and profited as they went $0.
I know this is all a little off key from the title thread, but I just needed to get this out there. Y2K WAS A SCAM, NOTHING MORE, NOTHING LESS.
Remember, our vice president at the time was the self pronounced inventor of the internet and both he and Mr. Clinton were huge recipients of money
I will let the rest of you get back to your post now.
Thank you for your time.
Some day I might just write a book about this!