Doom-filled warnings arrive from AT&T this week. The company says that without substantial investment in network infrastructure, the Internet will essentially run out of bandwidth in just two short years.

Blame broadband, says AT&T. Decades of dealing with the trickle of bandwidth consumed by voice and dialup modems left AT&T twiddling its thumbs. The massive rise of DSL and cable modem service in the 2000s has had AT&T facing a monstrous increase in the volume of data transmissions. And that's set to increase another 50 times between now and 2015. That's enough, says AT&T, to all but crash the system.

In response, AT&T says it's investing $19 billion to upgrade the backbone of the Internet, the routers, servers, and connections where the bulk of traffic is processed.

AT&T says video alone will eat up 80 percent of traffic in two years vs. just 30 percent now. One wonders how YouTube doesn't collapse under the pressure. Hmmm.