Sunday, April 14, 2013

Economy Growth Since September 11th 2001

The United States providence has been greatly impacted in new-fangled years by the terrorist attacks of September 11th, 2001 and by natural disasters such as hurricanes.

After the events of September 11th 2001 the airline and tourism industry reported huge rejects, consumer spend was off mostly (in October retail sales did bounce back more than pass judgment though), and the unemployment rate jumped to 5.4% in September in and continued to move in 2001. With the attacks, it ruined 13.4 million square feet of business offices release many unemployed in the city of New York.

federal official economic analysts have also made a few predictions on the economy post September 11th 2001. They predicted: ·         The consumer trustingness could be fragile ·         A reduction in hearty gross domestic product due to a decline in consumer spending ·         That on the fiscal front there could be a cut in tax rate and rebates and along with Monetary Stimulus could help the growth of sum of bullion Demand (http://www.dickinson.edu/departments/econ/webring/Economics/MoneyandBanking/ year2001plus911.htm) ·         On the international front it is marvelous that the United States would be able to help boost the economy at all.

Many of the predictions were correct about the economy afterwards the attacks.

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The United States had always been rather isolated from the terrorist activities that a mammoth segment the world had experienced. With the events of 9/11 Americans were forced to veer some of their beliefs and as a result how they used their money changed as well. Spending dropped tremendously due to the lack of boldness in the consumer. Saving their money for a rainy daylight became the new way to use their money instead of spending it on commercial goods. Companies tried to boost spending by having large sales on goods such as cars (low sideline rates) and sales on everyday items. Overtime this did work...

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