Resurrection of the Y2K bug??

When i was browsin on the net i came accross a site that said about the year 2038 bug , one that is very similar to the Y2K bug....
The year-2038 bug is similar to the Y2K bug in that it involves a time wrap not handled by programmers. we all know that the same wrap around problem did occur in the Y2k bug were the time at the first count of 2000 will be misinterprted as 1900... though this was a major problem it wasnt extremely critical as blown by the media.. Computer scientists were aware that those machines would continue operating as usual but with a reversed time and an incorrect date. Systems were corrected and tested in time.

now the Y2K bug has come back but in a different form.. this is due to a critical limitation of most of the sysytems. Most programs and many of the operating systems use the Co-ordinated Universal time to find the exact date. which is nothing but the number of seconds that has elapsed from the date Jan 1 1970.. this is the birthday of the Unix system.

Modern computers use a standard 4 byte integer for this second count. This is 31 bits. This means that when the second count reaches 2147483647, it will wrap to
-2147483648. The precise date of this occurrence is Tue Jan 19 03:14:07 2038. At this time, a machine prone to this bug will show the time Fri Dec 13 20:45:52 1901,
if you have noticed this happens on Friday the 13th.

This would not be a problem for machines that calculate time based on the standard Gregorian Calender the standard base for Java. so the major problem would be for Unix and Unix based system ..like freeBSD , linux etc... well, you might be thinkin that this wont affect Windows system and we are pretty ok... but the catch is most internet servers run on unix or an operatin system that is a descendant of Unix, for instance yahoo runs on freeBSD, google runs on Linux, orkut.com runs on Linux and even blogger.com runs on Linux( courtesy www.netcraft.com) ... so dates accross the internet would go haywire....