The Halcyon Days of Y2K By E. Ralph Hostetter

John Quayle blueoval57 at VERIZON.NET
Wed Aug 30 19:35:45 MDT 2006

>The Free Congress Commentary
>The Halcyon Days of Y2K
>By E. Ralph Hostetter
>August 16, 2006
>Times were good. The stock market registered an all-time high, well 
>over 10,000 on the Dow Jones. IRAs were growing rapidly in 
>retirement accounts. President William J. ("Bill") Clinton 
>"miraculously" balanced the budget. The Republicans had taken back 
>control of the House of Representatives after some 45 years. The 
>bulls seemed on a rampage; the bears were in hibernation. The 
>Internet was the place to be. Companies with no asset, never having 
>made a profit, were taking over massive multibillion dollar 
>corporations in "paper" transactions. AOL, one such company, had 
>taken over Time-Warner, a Fortune 500 publication/motion picture 
>empire, forming AOL-Time-Warner. Federal Reserve Chairman Alan 
>Greenspan was cooperating by printing trillions of dollars to fund 
>what would become known as the "Y2K" scare. Hi-tech and the Internet 
>was the place to be.
>The change to the year 2000 seemed ominous. Americans had been told 
>several years earlier that, because of the practice of using only 
>the last two digits to enter a year, when the date changed on all 
>computers from December 31, 1999 to January 1, 2000 the computers 
>would crash. Computers would be confused into thinking the year was 
>actually 1900.
>The American public had been told that all computers must be 
>replaced or upgraded if a national catastrophe were to be avoided. 
>The population was led to believe that crashing computers would 
>cause computer-guided aircraft to crash on landing. Added to the 
>panic would be failing power stations and inaccessible bank 
>accounts, with potential loss of all financial records. Americans 
>were urged to hoard cash to carry them over the months the banks 
>would be closed.
>The hi-tech race was on. The Federal Reserve's newly printed 
>trillions found their way into the stock exchanges of the nation. 
>The stock market was booming; IRAs were bulging with the hi-tech stocks.
>Interestingly, China, India, Russia and the rest of the world did 
>nothing to prepare for the date change. And nothing happened. Y2K 
>was a non-event. It was the greatest hoax of the 20th Century.
>How could such a hoax be perpetrated upon one of the best-informed 
>nations on the planet? The United States sets the world example for 
>a free press. And yet the vast majority of Americans were duped into 
>believing that a change of date from December 31, 1999, to January 
>1, 2000, would cause a near collapse of the nation's infrastructure. 
>When the smoke cleared the Y2K non-event had set the American public 
>up for 4 trillion dollars in stock losses. Individual fortunes disappeared.
>Will the unsuspecting public be misled again? The answer is a 
>resounding "Yes!" After several attempts to gain traction with the 
>American public, the global warming movement is back again. Global 
>warming suffered a serious set-back when President George W. Bush 
>refused to sign the United States to the Kyoto Protocol in early 2001.
>As with Y2K, a fear factor weighs heavily in the debate. Where fear 
>is a factor, decisions quite often are made on the basis of fear 
>rather than reality. This was particularly true during the Y2K hoax. 
>The direction for the population to resolve the fear factor is 
>inevitably set by the creators of the fear in the first place. Who 
>first advises the public of the issue involving the fear factor? Who 
>perpetuates the dialogue about the fear factor? It certainly is not 
>by word of mouth.
>The dominant media of the nation is the major source of all news. If 
>the dominant media ignores the issue completely too few people learn 
>about it to make a difference. The dominant media controlled the Y2K 
>hoax completely. The dominant media will control the global warming 
>hoax as well and it will prove to be far more costly than Y2K.
>Likewise, today, the dominant media promotes the likes of Albert A. 
>("Al") Gore, Jr. and his new movie, An Inconvenient Truth, and a 
>Discovery Channel television documentary, "Global Warming: What You 
>Need to Know, with Tom Brokaw." Both the Gore and Brokaw 
>presentations have gone unchallenged in the dominant media and no 
>additional program or news media has offered anything that could be 
>considered balanced. The general public must prepare itself for a 
>massive onslaught of terrifying news of worse-than-ever hurricanes, 
>tsunamis, floods, droughts, 15-foot rises in the ocean level 
>covering one-third of Florida and Long Island, loss of nearly all 
>American seaports and suffocating heat waves. The aforementioned 
>list is nothing more than an over-exaggeration of normal climatic conditions.
>Believe it or not, real science and real scientists agree, at 
>present the globe is in a natural warming cycle, neither caused by 
>man nor able to be altered to any extent by man. If the American 
>public is to avoid another Y2K it must look beyond the dominant 
>media. It must seek out real science. An abundance of accurate 
>science is available from many sources today, including the 
>Internet. Nearly every state climatologist has the story right.
>Ralph Hostetter, a prominent businessman and agricultural publisher, 
>also is an award-winning columnist and Vice Chairman of the Free 
>Congress Foundation. He welcomes email comments at eralphhostetter at
>    -----------------------------------------------
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