Friday, November 07, 2008
Now I for one don't think that Y2K was so much a scam as an overreaction to a relatively simple and inherently manageable risk. Having said that, I love Ian Plimer's use of it to stir up the troops at a Sydney Mining Club lunch yesterday with his assertion "If you thought Y2K was a scam, you wait for this one". He was, of course, referring to the Kruddster's Emissions Trading Scheme™. It is unlikely to be either simple or inherently manageable. My guess is that both big finance and organised crime (insofar as they are clearly distinguishable) are going to be the only beneficiaries of the whole thing.