What we're recommending is that people take out as much cash as they would need for a long weekend. And if you're relying on credit cards, request copies of your credit report before and after the century change so you can spot and correct any Y2K errors immediately.
My concern is many people are having financial difficulties. Personal savings rates are down. There is less of a buffer to fall back on.
What the delinquencies tell us is that there are more people who are under financial stress. The rise in energy prices is sucking up much more of households' budgets than they ever did.