So, What Will the Y2K Bug Do, How Will It Effect Me?
1) Very minor computer glitches will cause limited interruptions of daily life, nothing serious will happen. Possible temporary interruption of telephone, power, and TV services.
2) Moderate computer breakdowns will cause disruptions of daily life. Wide scale power outages cause interruption of many services (including banking). Water and sewerage services disrupted. Systems will recover in time (estimates are anywhere from a week to months).
3) The results of 2) cause companies (large and small) to fail. A major tie up of the courts systems and strain on the economy causes severe depression and/or collapse of governments.
4) TEOTWAWKI!!! (The End Of The World As We Know It) All technology and services abruptly end or "domino" to a collapse.