In this 1998 show, economist and writer Gary North predicted a severe global collapse due to the Y2K problem, stemming from 1950s code in which developers "saved two digits... by dropping the 1 and the 9 of the century" on punch cards used to load computer programs. He predicted bank runs beginning in mid-1999, leading to a "shutdown of the banking system." This would result in an "all cash economy in 2000" with the Dow Jones average shutting down.
He said that his greatest single fear was a shutdown of the power grid, which, if down for over 60 days, would be unrecoverable. North also revealed that governments were planning for a “martial law situation in 2000" under the guise of "cyber-terrorism," as systems for tax collection, Social Security, Medicare, and the military were non-compliant with Y2K.
Other effects included no airline service, credit cards, or pension plans. Essential services like water, sewers, and fuel would be affected due to non-compliant code in embedded chips and telecommunications. North finally asserted that it was too late to fix the problems and recommended personal preparedness, including a "year's supply of food," cash, and fostering community cooperation.